Horse racing fans will pay more for the privilege of betting on the Kentucky Derby this year. Churchill Downs, the home of the Kentucky Derby, announced (this week) that it will be raising its takeout for the spring 2014 meet. Takeout is what the track removes from the pools of money before paying off the winners. It is used to pay the purses for each race as well as to provide operating expenses and a profit to the track as well as paying state and municipal taxes and fees. It is the price that horse players pay in order to wager on horse races. So the money that supports horse racing comes from the bettors, the horse players.
More: continued here