takeout n. the amount of each bet deducted by a horse-racing track to cover expenses. (source: Double-Tongued Dictionary)
whale n. a serious, heavily funded bettor; a high roller. (source: Double-Tongued Dictionary)
takeout n.— «In the Kentucky Derby on Saturday, for example, Churchill Downs will return to bettors at the track about 82 cents of every dollar wagered in the form of winnings. The remaining 18 cents, known as the takeout, will be used to...
rebate shop n.— «He bets through what are called rebate shops, which are off-shore, on Indian reservations or in states with fewer regulations. Rebate shops offer from 4 percent to 10 percent back on every dollar wagered—win or lose...
whale n.— «In horseplaying parlance, Maury Wolff is a whale, one of the thousand or so professional bettors who collectively wager as much as $1.5 billion a year on thoroughbred races in the United States. He will not attend the Kentucky...
Collyer n. a home excessively packed with junk, trash, or belongings. Also Collyer mansion, Collyer house, Collyer apartment. Editorial Note: It is said that on the American West coast a similar term is Habitrail house. Etymological Note: After the...