I didn't realize this until the other day but good for them. Starting with the Ellis Park meet this year, Kentucky is the first racing jurisdiction in the US to get rid of the breakage and pay to the penny. If you don't know how pari-mutual wagering works, the track takes out a certain percentage of all betting pools and pays out the rest to the winning bettors. If you thought that always came out to .00, .20. .40, .60 or .80 cents, it doesn't. They always rounded down and split the profits between the track and the horseman. They explain it perfectly in the article. It may not seem like much, and to a bettor like me that plays the exotics, it doesn't matter much. Still it's the right thing to do.
To answer the question of why they didn't do it in the past, if most of your wagering was on track and the tellers had to deal with pennies it would be a complete pain in the butt. Understandable. My solution to that on track now is to just tip the teller the change. Most wagering is online now.
The Glenn solution to breakage would have been to put the breakage to the PDJF and thoroughbred aftercare programs to make sure the horses don't end up as dog food in China and the jockeys that ride them have some health insurance in an industry that is harder to get health insurance in as an individual contractor than professional wrestling.
paulickreport.com
To answer the question of why they didn't do it in the past, if most of your wagering was on track and the tellers had to deal with pennies it would be a complete pain in the butt. Understandable. My solution to that on track now is to just tip the teller the change. Most wagering is online now.
The Glenn solution to breakage would have been to put the breakage to the PDJF and thoroughbred aftercare programs to make sure the horses don't end up as dog food in China and the jockeys that ride them have some health insurance in an industry that is harder to get health insurance in as an individual contractor than professional wrestling.
Ellis Park Becomes First American Track Paying Out To The Penny - Horse Racing News | Paulick Report
Ellis Park ushers in KY’s first-in-America payoff to the penny; Legislated policy means more money to be returned to horseplayers
paulickreport.com
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