I know I've made this point before, but it's been a while so:

Bottom line, the thing that funds racing (ignoring horse owners and slots) is the net amount the public loses. My guess about big-money players is that they are more likely to be sensitive to how much they are winning or losing. If they stop winning, they stop playing. Bringing that kind of money into the game is of no real long-term advantage. Players who win are just another mouth for the industry to feed.

That said, the industry does need some players to win, so that others will make the attempt (and mostly fail). But the industry also needs to make it enough fun to play that people won't mind losing. Does the lower takeout do that, because people get more bang for their buck? I don't know the answer, but that's the real question.