The Totalisator.

Manawatu Herald, 28 April 1904, Page 3

The Totalisator.

In an interesting article on “ What the Machine Wins,” by “ Onlooker ” in the Hawera Star, that writer goes into detail us to how much the totalisator takes out of £IOO invested at a two day’s meeting, which comprises sixteen events. He states if we follow the fortunes of any £IOO of the money taken to a race meeting in being invested and reinvested the result disclosed is astonishing. The principle governing that £IOO in its rapid reduction is the same as would be the case supposing that 100 persons each with £1 attended a two day’s meeting and invested the whole of their money on each race. And as the consideration of the case in this way will make the point clearer we will adopt it. For the original investment of £IOO we must allow the sum, 10 per cent, being deducted each time. A tabulated form will display the decrease to better advantage, fractions of £1 being omitted Ist race, 100; 2nd 90; 3rd 81 ; 4th, 72 ; sth, Go ; 6th, o 9 ; 7th,’ 53 ; Bth, 45. It will be seen that the conclusion of the first day’s racin'* the totalisator has had a “orettv good time.” But to continue : 9th race, 43 ; 10th, 38; 11th 35- 12th, 31 ; 13th, 28; 14th, 25; }6tb, 28; 16th, 20. The position is

now established that of the £IOO taken on the course by our 100 investors only £lB remains to be divided amongst the winners. As a matter of fact even that sum would not be left to the investors as a portion in “odd pence ” would also have been retained by the insatiable machine. In connection with the imaginary case made use of it may be remarked, in conclusion, although there was only .12100 originally no less a sum than £Bl4 passed through the totaliaator.