Hollywood Park to offer low-takeout pick five

I’ve bashed the California Horse Racing Board and the Thoroughbred Owners of California plenty of times, but when they do something that’s positive for the industry, they deserve kudos.

Santa Anita is suffering through a terrible meet handle-wise, and it’s due partly to the increase in takeout for exotic bets that went into effect this year.

Something had to be done, and although it should have been done earlier, the new early low-takeout pick five during the upcoming Hollywood Park meet is a step in the right direction.

Here’s hoping the CHRB and TOC continue to make similar moves for the bettors rather than alienating them with head-scratching decisions.

Here’s the press release Hollywood Park revealed earlier today:

REDUCED TAKEOUT PICK 5 ADDED TO WAGERING MENU
INGLEWOOD — After receiving approval from the California Horse Racing Board and the Thoroughbred Owners of California, Hollywood Park will offer a reduced takeout Pick 5 on its wagering menu when the Spring/Summer meet begins Thursday, April 21.

The Pick 5, which will have a takeout of 14%, the lowest for any multiple race wager in California, will be a 50-cent minimum bet. It will consist of the first five races daily.

There is a carryover provision with the Pick 5 if there are no perfect tickets. The carryover rules are the same as those applicable to the Pick 6.

Formerly available on the first four races, the early Pick 4 will now cover races 2-5. The late Pick 4 remains on the final four races.

2 thoughts on “Hollywood Park to offer low-takeout pick five

  1. This new wager was visible through the telescope many weeks ago. I am surprised that those who are hawking this wager are oblivious to the fact that this is a new way for the racetracks to take a cut of the “new” action.

    This new wager fails to address the fact that many of those still wagering on horse racing being conducted in California are suffering from rapidly dwindling bankrolls due to the increased takeout rates in the exotics pools. This predicament endured by the customers is exacerbated by the fact that the field sizes continue to dwindle in California.

    Tying up bettors and forcing them to handicap on five races on the card and hoping they will also wager on these races individially in the wps-ex-tri pools is tantamount to “wishful thinking” and does NOT address the root of the problem. This new wager is but another band-aid, a source for short-term revenue to keep the purse levels up while Rome burns.

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