From Bloodhorse, a good news story for value investors. A serial win wager with only a 14% takeout. Assuming 8 horse fields, the random odds are about 32,000 to one, but still , the takeout's only 14%
Here's the five-bar version: 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 April 21.The Pick 5, which will have the lowest takeout rate for any multiple race wager in California at 14%, will be a 50-cent minimum bet. It will consist of the first five races daily.
For the rest of the story: http://www.bloodhorse.com/horse-racing/articles/62466/hollywood-to-offer-pick-5-with-14-takeout