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Anatomy
Ever wonder where the prize money at year-round pari-mutuel racetracks comes from? It comes from you, the bettor. , The so-called “takeout” of every wager placed on every race — whether on track, an in-state off-track site or an out-of-state offtrack betting parlor — pays winning gamblers, horsemen’s purses, state taxes and the racetrack plant itself. Takeout can be as little as 14 percent in New York or as much as 30 percent for exotics in Pennsylvania. Virginia takeout ranges from a standard 18 percent for win-place-show bets, to 22 percent for exotics such as exacta and superfecta gambles. A $2 bet pays out this way:
On track Winning bettors: $1.68 State taxes: 7 cents Horsemen's purse account: 13.3 cents The racetrack: 11.7 cents
Off-track betting parlors Winning bettors: $1.68 Purse account: 3.32 cents The racetrack: 3.18 cents OTB operator 25.4 cents
90.1%