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 pay for expenses like racing purses, state taxes and track maintenance.» —“Horse Racing’s Biggest Bettors Are Reaping Richest Rewards” by Joe Drape New York Times Apr. 26, 2004. (source: Double-Tongued Dictionary)
Further reading
A listener reports that when his Kentucky-born grandmother heard anyone say Who, me? she’d respond Your feet don’t fit a limb. It’s a pun on the sound an owl makes. This is part of a complete episode.
Related
Barbara in Jacksonville, Florida, recalls her grandmother saying she liked her coffee strong enough to tote double and kick up behind. The expression tote double refers to the action of a horse carrying two people. If a horse is able to kick up...