DOES IT PAY?

Gisborne Times, Volume LXVII, Issue 10476, 5 January 1928, Page 5

DOES IT PAY?

A NALYSIS .OF ‘ ‘TOTE’ ’ IN-

VESTMENTS & £

CLUB AND GOVERNMENT TAKE , MORE THAN HALF

ACTUAL MONEY. ON R ACECOURSE.

(Special to the Times.) AUCKLAND, Jan. 4

A correspondent writing to the Herald made the following interesting remarks :i—----“In Tuesday’s paper there was a detailed statement- of the investments on every race at Elierslie on Monday the total- having been nearly.. £112,000. Since many people bet on many japes' that amount represents a, multiplication of the money actually taken on to the .course, and if it is to bte presumed that the whole of the dividends are subsequently invested, a. fair idea may be- obtained of * the total sum engaged in the day’s speculations. Thus, of the investments of £9760 on the first race, about £1415 was retained by the club and thq Government, leaving £8344 with the public in dividends. To that sum £4OOO odd must have been added to fnako up the investment of £12,378 on the second race..

“Pursuing the calculation leads, to the conclusion that the ‘actual amount used by the public as a Whole during the day was about £32,500, of which over £IB,OOO was taken by the club and the Government, and only a little over £15,000 retained by investors.

“Those who condemn gambling: do so on the ground that it involves the transfer of money from the loser to the winner without just return, but the gamblers themselves may wonder whether there is any advantage in the game when the bankersappropriate more,than half The stakes."

“TOTE” INVESTMENTS AT AUCKLAND SUM OF £602,681 FOR SEVEN DAYS

BIGGEST FIGURES FOR. SEVERAL YEARS

(Special to the Times.) AUCKLAND, Jan, 4. The total sum passed through the totalisator at- the recent seven days’ racing in Auckland was £602,681 10s. This sum is £55,193 above the total invested on the machine during the corresponding seven days of 192627. Nearly two-thirds of the total put through the machines was in respect to the four days’ carnival of the Auckland Racing CluK This is the first marked upwards .tendency in the volume of betting for several years. The record year was 1920-21, When the summer carnival for the, two clubs involved £724,572 in tofalisator tickets.