US racetrack lifts minimum bet threshold

An American racetrack will raise the minimum stake on several wagering products as part of changes designed to reshape betting during its upcoming season.

Kentucky Downs will increase the minimum bet on win, place and show (WPS) wagers from $2 to $5.

The track will also reduce the takeout on Pick 3, Pick 4 and Pick 5 bets to 15 per cent while rates on other exotic wagers remain unchanged.

Kentucky Downs is home to America’s only European-style all-turf racecourse and, at just over one mile in circumference, is one of the longest racetracks in the United States.

The wagering changes were first reported by Horse Racing Nation and will apply during this year’s Kentucky Downs seven-meeting season that runs through August and September.

Kentucky Downs handled $107,389,452 over seven days of racing last year, a 19 per cent increase from the previous year, a 44 per cent increase from 2021 and a 375 per cent increase from 2016.

The WPS handle has maintained the same ratio of total handle throughout the upswing.