BETTING HOTCHPOT

Evening Post, Volume CXIX, Issue 31, 6 February 1935, Page 8

BETTING HOTCHPOT

NEW SYSTEM A SUCCESS?

The geneial opinion of southern cutics it. that the extremely no\cl sjbteiu o£ bcttiug'intioduccd at Koibuiy Paik hht week wab an outstanding success. The, opinion in tome instances, liowcvei, may be simply that it was such a biicccbb because theie w as s>uch an mcicasc m turnover. It is difficult indeed to behove that such a mixed system—7d-20 peL cent, on one machine, and thice place dividends on another machine—could gain any leal popular favoui. The cuticb who laud the system die oveilooking the tact ihat. whereas admittedly there was aii increase ot 28 per cent, at Foibuij, tlie incieases at Wanganui and Wanoa, the other two meetings held duung the week, wcie icspectnely 43 and 36 per cent. Jn a critical analysis all such facU mubt be taken into account.

However, it may be of mteicbt to lead what has been wntten about the Koibuiy Meeting. The Dunedin "Stai" says:— 'lhe introduction of a second dividend on the win machine, with the oidinaiy place machine also operating, was quite a success at Forbury Paik, but tins was largely due to the increased number of selling windows -opened. The good dividends leturned on the place machine on the^early races on the opening day greatly added to its popularity as the afternoon advanced, and the proportion' of investments gradually rose from one-thud to one-half. As the public become better acquainted with the two systems the proportion of investments on the i>lace machine" should increase." - * , 'The Chnstchurch" "Piess" says:—"The Foibuiy Park Trotting Club has every reason to be satisfied with the financial result ot its Summet Meeting and its new system of betting. The substantial increase m the totahsator investments on the first day as compared'with last year was not altogether unexpected, *for last year the weather and1 track conditions were not favourable,'and rains f ell -.for half the afternoon. On the second „ day twelve months ago, however, conditions were ideal, and the big increase of nearly £8000 on Saturday shows that trotting is coming into its v own in Otago. In 1930 the totahsator investments tat the club's Summer Meeting amounted to £62,189, but for several years there was a noticeable decline. This year's total wa& the best since 1930." ' t The Christchurcb. -"Times" says:—"The huge success'of the betting system adopted by the Forbury Park Tiotting Club should influence other club organisations to nse the same methods. The idea of paying two dividends,m the" ratio of 75 and 25 per cent, on 'the ■win machine satisfied big speculators and owners, and the place machine pleased*the small investois. The new arrangement is a solution to a muchvexed question, and is infinitely supenor to the single-pool method with'three dividends, and a distinct improvement where only the single-pool and two dividends aie available. The substantial increase of £913710s in the investments at the meeting was due to the new system. It is true thift the gate receipts were £100 moie than at the Summer Meeting-last year, but the increased attendances were not wholly responsible for the improvement in speculations. »■

"There, was another aspect equally important. Speculators seem to divide into two" camps, the big bettor patronising the win machine and the small investor confining his activities to ,the place machine. Few people supported both totahsators. Thus quite early in the meeting the win machine carried three times the amount of money the place machine did,, but betting was more evenly distributed on the place machine, whereas opinions were definitely expressed on the win machine. The fact of big amounts being invested on the win machine made certain horses pronounced favourites, though they would be only a few tickets better backed than several other horses on the place machine. Tho lesult was that splendid dividends were letumed on the place machine and satisfactory prices were returned '"on * the win tnachine. The geneial opinion of all classes of bettors was that the fact of five dividends being available kept the volume of money spread over a wide ciicle of imestois." This was a feature of the new system which should-tend to become very popular and satisfactory to all classes of speculators."