A PLAYTHING

Sun (Auckland), Volume 1, Issue 70, 14 June 1927, Page 6

A PLAYTHING

Tote in Australia WOMEN LIKE IT HOW A BOOKMAKER LOST MONEY Members of the Sydney ring- are not thinking of turning in their licenses because of the new rules. So said a prominent bookmaker the other day. “We look upon the machine as little more than a plaything, and do not regard it as a serious opponent. Experience has proved that it does not offer any better prices than "we do, except, perhaps, in the case of extreme outsiders. “Now it will return smaller dividends than ever, and that is not likely to make it more popular. WOMEN'S VIEW “Women may like it better, but their investments don’t amount to a very large sum compared with what is handled by us.” “Do you think there may now be more inducements to back the favourite?” “Of course, there may be; but the average Australian loves a gamble, and I believe he would sooner stand or fall by his chance of winning 30s for the risk of £1 than take a chance of getting back 25s or 26s if his horse won.” Other ringmen expressed precisely similar views. They are not afraid. BEAUFORD INCIDENT One well-known fielder recalled an experience he had with the machine and wondered what would happen in similar circumstances under the new regulations. “About five years ago,” he said, “Beauford started for the Ail Aged Stakes at 10 to 1 on. Someone came to me in a hurry, and told me that the machine was showing only 6 to 1 on. Without stopping to think it out, I sent my clerk to put £2OO on Beauford. Imagine my joy, when I found that Beauford, who won, paid 9s 6d. I therefore lost £lO on my clever deal. Had I laid the £2OO on in the ring I should have won £2O. Now, I wonder what would happen in such a case if the amount deducted on each placed horse has to be set aside for return to the investor, before ‘the remainder’ is divided.” In the case to which the bookmaker referred, there were six starters, and 6,121 tickets were issued in the paddock. Of these 4,056 were on Beauford, and 549 on Tangalooma, who finished second. Beauford paid a dividend of 9s 6d, and Tangalooma one of 255. Under the new scheme, if backers of Beauford and Tangalooma had had their 10s returned to them, they would have nothing else to divide. The 12X per cent, which has to go to the Government, and the club would absorb £765, and the remaining £751 would go in fractions, as it would not yield a sixpence each to the “lucky” investors. No profit at all for any of them.