Repeal of Tote Rule

Sun (Auckland), Volume I, Issue 161, 28 September 1927, Page 9

Repeal of Tote Rule

NEW SOUTH WALES PLAN OLD SYSTEM RESTORED By Cable.—Frets Association. —Copyright Reed. 9.40 a.m. SYDNEY, To-day. The Government of New South . ales has decided to repeal the totalizator rule, providing for the return of not less than the unit of investment to the Daekers of placed horses, as Hs ' Btem did not, prove popular with the betting public. The old system of allocation of 50 per cent, for the first horse, 30 per cent, for the second and 20 per cent, tor the third will be reverted to.—A and N.Z.

_ A Sydney cablegram of May 13 read c-s ioJiows:—

a view to popularising the totalisator, the revenue from which for some + shown a decreasing tendency, the Government has framed new regulaVlay S h * Ctl Wiil com ' 3 into operation on

The chief amendment is that, wheneV?r. P° SKlbl e, all dividends shall be calculated so as to assure that each investor on a placed horse will receive a return of not less than the unit of investment on jyhich the totalisator is operated. This will ensure that backers of placed horses will at least receive their money back.

Another amendment deals with the number of dividends in a race and proy»des that there shall be two dividends if there are not less than four and not more than seven starters, and three dividends if there are eight or more starters. The ratio of the division for a threedividend race of the amount available for distribution has been fixed at 50 per cent, for the first horse, SO per cent, for the second, and 20 per cent, for the third. The ratios for one and two dividend races remain unaltered.