Wrong Payoff at Gulfstream?

[ScottJ]

Small, but very important, point to be noted when calculating place or show prices (pre-Net Pool Pricing days) : The takeout rate applies to the entire pool as the FIRST mathematical operation. Then, the winning wagers are subtracted from the net and divided (in two or three pots based on place or show) appropriately.

By subtracting the winner wagers first and then applying the takeout rate implies that winning wagers are NOT charged takeout which is incorrect.