BETTING IN BRITAIN

Manawatu Standard, Volume XLV, Issue 287, 7 November 1925, Page 9

BETTING IN BRITAIN

HOW MUCH DOES IT COST? INTERESTING CONTROVERSY. (By Electric Telegraph—Copyright.) Received November 7, 8.55 a.m. LONDON, Nov. 0. Canon Peter Green, of Manchester, was the central figure in an inseresting betting controversy. Canon Green asserted that Biitish bookmakers take £170,000,000 annually from the bettors' pockets. Mr Lionel Phillips, a well-knovn London bookmaker, promptly denied this. He offered to give £IOO to charity if 'Canon Green could substantiate his statement. Both parties have now agreed to put their evidence before a chartered accountant and accept, his decision. Canon Green commenced by showing that the total number of bookmakers in England was 10,000, and that the income tax authorities, after inspecting the books of 1701 credit bookmakers, found that their net profits were £1,042,000, which was only 0.4 per cent of the gross profits, so that the gross profits of 1701 bookmakers were £00,047,000. He asked what did the remaining 14,208 bookmakers make. If they only averaged 00s per week the total came to £G0,000,000, making the total gross profits £90,000.000. But it was impossible to believe that 00s per week was the real profit, as the inland revenue authorities estimated the gross betting turnover at £117.000,000 annually, 'and the probable average net income of each bookmaker would bo £OOO to £7OO per year.—A. and N.Z. cable.