“CREDIT BETTING”

Dominion, Volume 15, Issue 30, 29 October 1921, Page 9

“CREDIT BETTING”

ACT TO BE STRICTLY COMPLIED

WITH. It was recently pointed' out to the Hon. E. P. Leo. Minister of Justice, that there were many instances in New Zealand where "credit, betting” was allowed on the totalisator nt race meetings, nnc thtit in one or two cases cheques hail been issued in this wjy against banking accounts for upwaifli of JriOO when the investors had no funds in the bank to meet their cheques. It was stated that this form of betting was an encouragement to men whose, financial circumstances wero uncertain to "plunge.’ anil if the investment were unsuccessful to make their position very unsatisfactory. Particulars of tho cases of several young men o f good social and. 'business stalling who had hotted "on credit” with no cash in the bank to meet their cheques had been supplied to the Minister of Justice In one or two instances friends nail paid a greater part of the money owing to save the honour of tho young men concerned. Tn speaking to a reporter about the matter. Mr. Lee san. that section 8 of the Gaming Act Amendment, 1910. clearly provided against credit hetlino.” Tho section stated: No investment on the totalisator shall he received otherwise than in money banknotes, or cheque, before or at the time of the investment.” The Minister said that ho had instructed the police to sec Hiat tho provisions of the Act were strictly complied with.