THE PARI- MUTUEL

Otago Daily Times, Issue 18537, 24 April 1922, Page 8

THE PARI- MUTUEL

DEATH OF THE INVENTOR. Press Association—By Telegraph— Copyright. PARIS, April 22. (Received April 23, at 5.5 p.m.) Mr Joseph Oiler, inventor of the PariMutuel system of betting, died at his birthplace in Austria. His first scheme was to run a carriage through the streets of Paris, painted red, containing clerks who received bets from two to 100 francs. At this time betting was merely a lottery, the holder of a winning ticket taking thestakes. Subsequently Mr Oiler introduced a system by which patrons backed their fancy, the pool (less commission) being divided after the race among the winners. Mr Oiler soon had betting vans on all racecourses. When rivals came Mr Oiler invented the pari-mutuel. He first deducted 10 per cent., and then 5 per cent, as business flourished. The authorities in 1869 prohibited pooling agencies, but permitted pari-mutuels, until 1874. When the French Government re-established the pari-mutuel a few years later Mr Oiler was invited to organise it. He demanded a epnceSsion for the whole of France on condition that he paid 10,000,000 francs a year. The Government accepted his terms, and Mr Oiler paid 5,000,000 francs on: account out of the proceeds. At the end of the year the Government gave him his money back, and also permitted him tp retain' the pari-mutuel on certain racecourses.—A. and N.Z. Cable.