PAYMENT OF DIVIDENDS IN NEW SOUTH WALES

Sun (Auckland), Volume II, Issue 475, 3 October 1928, Page 10

PAYMENT OF DIVIDENDS IN NEW SOUTH WALES

OLD BASIS REVERTED TO The ffew South Wales Cabinet has decided that the old basis of distribution of totalisator dividends shall be reverted to. In a three-dividend race the distribution of totalisator dividends shall be on the basis of 60 per cent., 20 per cent., and 20 per cent., respectively against the 75 per cent, and 25 per cent., first and second horses only, in New Zealand). This step has been taken in view of the decline in the totalisator receipts, and, it seems, has been urged by the Australian J.C. for some time past. With a view to still maintaining uniformity in totalisator rules throughout the State, it has been decided that this basis of distribution shall be applied to all clubs, whether racing under A.J.C. or other rules. When the totalisator was first installed in New South Wales, dividends were paid only on the first and second horses. Pay Out on Three In order to make machine wagering more popular, and thus increase the revenue, three dividends were decided upon, and the basis of distribution of the divisible amount was 60 per cent, to the winner, and 20 per cent, to each of the second and third horses. In recent 3 r ears further experiments were made, and one of the regulations provided for the return to the backer of the unit of investment at least, if the horse ran into a place. This method did not meet with the success anticipated, for the reason that so much money had to be reto backers of a favourite that had finished in a minor place only, the amount available for the winner was materially depleted. Last year this regulation was repealed, and it was decided to adopt the method of distribution providing for 50 per cent, to the winner, 30 per cent, to the second hors e , and 20 per cent, to the third horse. This failed to increase the amount invested. The old basis has now been reverted to.

In Father's Footsteps Norman Scobie has achieved in England some of the success that his rather’ James Scobie, has had in Austraiia. N. Scobie is private trainer to Sir Charles Hyde, who races on an extensive scale. Although he does not have as many opportunities as a trainer with several patrons, Scobie has had a fair share of wins this season. His best horse is Baytown, who of late has won the Irish Two Thousand Guineas and the Irish Derby. This three-year-old by Achtoi, a noted sire of stavers, gives every promise of training into one of England’s best distance horses next season.