It's closer to 22.5% in total. [1] But it also depends on specifics like race, location, type of bet [2]. Looks like a conventional win, place, or show bet has

It's closer to 22.5% in total. [1] But it also depends on specifics like race, location, type of bet [2]. Looks like a conventional win, place, or show bet has the least taken out of it [1] http://www.calfairs.net/files/publications/14.pdf http://www.calfairs.net/files/publications/14.pdf -- check slide 5 [2] https://www.scribd.com/document/84887435/CA-Authority-of-Racing-Fairs-Ten-year-Satellite-Report-2000-2009-Final-03-11-11-Compressed-Version https://www.scribd.com/document/84887435/CA-Authority-of-Rac... -- An Example for Northern CA breeds on page 10