Ed,
Read a book about money management once(don\'t recall name) but it stated that any time you made more than one bet, of an equal amount, on two different horses, it was poor wager from a money management standpoint.
As I recall,it did not have to do with takeout but rather with dilution of the wager. For example, if you were wagering $100 in exactas, a poor play would be to make a $50 exacta box.The proper bet would be a $40 exacta box and a $20 press on one of the combinations.Apparently, you are never supposed to have less than 60-70% of your money on one combination.
According to the book, all those 3-4-5 horse boxes(for an equal amount) are poor bets from a money management standpoint as are any bets for equal amounts in the same race.
Mike