takeout n.— «The OJC receives 9.5 cents per dollar wagered through the mutuels and turns back approximately 50 per cent of its takeout to the horsemen in purses.» —“Backstretch bookmaking at racetrack, OPP charge” by James...
rebate shop n.— «Rebate shops have no such overhead to cover and give most of it back to their customers. Typically, that amounts to between 3 and 12 per cent of the amounts bet, even as high as 18 per cent on some exotic bets...
rebate shop n.— «Laurel Vice President Jim Mango traced the bet to the island of St. Kitts, site of a suspected rebate shop.» —“Rebates Knock Betting Off Track” by Andrew Beyer Washington Post Feb. 1, 2001...
rebate shop n. a gambling broker which guarantees to return a percentage of every bet to a bettor. (source: Double-Tongued Dictionary)
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)