Churchill Downs said it’s increasing its takeout rates on money bettors place on races at the track. The hike is being made to prevent Churchill from having to cut the prize money for winners — or cut races altogether. As a result, the track was able to increase its stakes purses by 2.7% to nearly $7.7 million for the spring races. That means it will cost you more this year to bet on the Kentucky Derby at Churchill Downs, which has already seen $72,870 worth of bets pour in prior to the race.
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