Betting Machine Adds to Revenue in British Racing

Hawke's Bay Herald-Tribune, Volume 81, Issue 61, 4 December 1937, Page 18

Betting Machine Adds to Revenue in British Racing

LONDON — Totalizators on British racecourses increased tbeir turnover by nearly 20 per cent in 1936, according to a report of tbe Bacecourse Betting Control Board released bere. Tbe actual turnover amounted to £7,367,925 against £6,149,253 in 1935— a net increase of £1,218,672. Tbe biggest turnover a't any one meeting was at Ascot, wbere £425,850 was invested. Tbe year's increased revenue was £666,896. After 'meeting expenses, . a surplus of £292,580 remained, from wbicb grants amounting to £118,814 were devoted to borse improvement, racing and charitable purposes. A "tote" cbarity trust bas been set up, to disburse grants for "purposes wbicb are in law charitable." Tbese are believed to include ' 'purposes conducive to improvements of breeds of borses and tbe advancement and encouragement of veterinary science and education" — toward wbicb grants amouting to £10,850 were made. Tbe board bas made an issue of £2,400,000 four per cent. registered stock, of wbicb half has been sold to tbo public and tbe proeeeds employed in strengtbening its finances. Tbis, it is said in anti-betting circles .bere, will bave tbe efirect of furtber popularizing tbe totalizator and of "entrencbing it as a vested interest."