Hmmmm, Thehoarsehorseplayer is correct when he says the big boys are in the money churning game. Mostly , anyhow, you still have to have an opinion (or information) 15% or so better than the crowd to play a break even game. Then the rebate is your profit margin.

Now, the logic that says a universally lowered takeout would hurt the rebaters escapes me. Maybe you could explain the math there.

Maybe you are saying that a 10% take with NO REBATE would be a problem for them, and I would agree. If they were still able to get a 2-3% rebate, then the game would still be in thier favor, and the rest of the players would simply lose less to the track and state.