This mini-glossary is intended to guide individuals unfamiliar with racing terminology. Percentages given are average examples only and can vary widely from state to state.
Dark Days
Racetrack terminology referring to days when there is no live racing. Some state restrict simulcasting on dark days.
Handle
The total amount of money wagered on an afternoon or evening racing program, excluding refundable wagers.
ITW
Acronym for Inter-Track Wagering. Refers to the televised trasmission or reception of a live race to or from another racetrack.
OTB
Acronym for Off-Track Betting. Wagering at a site other than where live racing is taking place. OTB sites are licensed by the state.
Pari-Mutuel
Derived form the French term meaning "among ourselves." A system of wagering whereby holders of winning tickets proportionately divide the total amount of money wagered, less the take-out. Differs from casino-type gaming where gamblers are betting "against the house."
Program
Total number of afternoon or evening races conducted. On average, 10-13 races constitute a program. Also referred to as the Card or Performance
Purse
Percentage of the take-out paid to kennel owners. Average purse is four percent.
Simulcasting
Televised transmission or reception of a live race to or from an out-of-state racetrack or OTB site.
Take-Out
Percentage of the handle withheld by the racetrack for state taxes, purses, expenses and profit. Take-outs vary by state presently ranging from 17 to 25 percent depending on the type of wager, and are established by state laws.
Reprinted from Greyhound Network News (Winter 1994-1995)
