WHEN THE "TOTE" LOST
Advocates of the' bookmaker- are/ apt to direct: attention. ;to --, .tlie " fact' that tlie totalisator cannot. lose.; /The machine did however,.lose- at Newmarket ,(England) on-14th .Ootober. ; ,'.-,. ■ .'. .. -, ■
Lord Lonsdale'a champion, two-year-old filly Myrobella 'was a runner'in' the Prendergastl Stakes," 'and 'she "^carried very nearly; all the tickets. She and her baekerß-would have lost But for a recently adopted rule that ■ guaranteed ;a minimum of a threepenny dividend .on the hvoshilling unit. ' The. totalisator had to sacrifice its customary .10 per cent., and lost £232 in addition. .■' .
That was the end of this; role, as a few clays later the Racecourse Betting Control Board announced that Rule 6 of the Board's Totalisator Rules had been amended, to read as follows:—"The dividend on the unit bet will be paid to the nearest multiple of 3d below the calculated amount provided that (except in the case of a dead-heat) if the calculated dividend is equal to 2s, or lies between 2s and 2s 3d, then 2s 3d shall be paid, but (except in the case of a dead-heat) if, after deducting the determined percentage the amount in a pool is insufficient to pay back the value of the bets on the winnin<* or placed horses, as the -case may be, all bets in that pool will be returned iv full."
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WHEN THE "TOTE" LOST, Evening Post, Volume CXIV, Issue 138, 8 December 1932
WHEN THE "TOTE" LOST Evening Post, Volume CXIV, Issue 138, 8 December 1932
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