The canadian pick 4's are not really a good bet for americans. In canada, they have a minimum 20 cent wager for the pick 4 while americans betting through the ADW's must bet $1 minimum. This gives the canadian a big advantage since they can spread out and cover a lot more combinations. consequently, when do you get a long shot, the payoff are smaller due to that. The pick 3 is a better play because of the even playing field with canadian bettors. but their take out is high.
Ry you are right on both counts.
P-3 take out is 26.3%
The payoffs for the p-4 at Woodbine can be very large sometimes like last night (April 11) there was a payoff for $34340 with the pool being $73260. Either one guy got it for a dollar with 3 .20 cents tickets or 8 fellas got it for .20 cents ($6868 a piece) for a total of $1.60.