TOTALISATOR RETURNS

Otago Daily Times, Issue 26042, 4 January 1946, Page 4

TOTALISATOR RETURNS

During the holiday season, New Zealanders have “ invested ” nearly £3,000,000 on race totalisators throughout the country. Large though this figure is, it does not accurately reflect the amount of money used in the betting, for it is common knowledge that more bookmakers are in operation than are revealed by the periodical prosecutions for infringements of the Gaming Act. There are no means of ascertaining how much money is entrusted to them. It is, nevertheless, a very considerably, sum, and taken in conjunction with the legitimate investments thfe aggregate figures must represent an interesting comment on one of our national characteristics. The people of New Zealand are, hardly less than their brothers and sisters across the Tasman, widely known for their love of horse racing and for the extent to which they are prepared to support financially their opinions of the respective merits of horses that are engaged. And marked though this trait has been in the past, the totalisator figures over a period of years, as well as race meeting attendances even during the war, indicate that it is increasingly exhibited. According to the Abstract of Statistics, totalisator figures for the racing year ended 1944, amounted to £ 10,279,036, and in the more recent year the total had risen to £12,030,432; and even when allowance is made for the fact that there were 19 additional race days in 1945, the increase in the betting is clearly evident. This fact should give all sections of the community food for thought. The racing authorities and Parliament should both be actively concerned over the control of racing. A system of totalisator betting which was reasonably efficient some years ago may require adjustment as the business increases. For example, the merits or demerits of the provision of a double totalisator might be investigated. Again, there is the question of the control of betting by means which are at present illegal. On moral grounds and in the interests of healthy sport, should bookmakers be legalised or not? In this question the Government possesses a financial interest. In the racing year ended in July, 1945, the Government received £1,133,830 from taxation on totalisator investments, dividends, and stakes. On the illegitimate betting it must stand to lose much larger sums than are recovered through

occasional successful prosecutions which may be described as a somewhat ineffective and indirect method of imposing a licence fee on the bookmaker. In view of the obviously wide interest taken, the comparatively minor matter of the publication of totalisator dividends may also be considered. In New Zealand such publication is banned, although it is admitted in Australia, but the fact that dividends can be more or less indicated on larger returns robs this ban of its effectiveness and all that remains is a very stupid prohibition for there is no person concerned who cannot ascertain the amount of a dividend within a few minutes of the completion of a race. But entirely outside the sphere of racing interests, these returns have a general interest which should be more seriously considered. The amounts invested are an indication of the large amount of loose money which is current in New Zealand at the present time. The record note issue by the Reserve Bank of New Zealand of more than £40,000,000 provides a striking indication of the amount of money being handled by the public. In a world where there is a marked shortage of consumer goods of all kinds, a condition which seems likely to persist for some time, the dangers of this state of affairs should' be clearly recognised. It is a problem which ought to receive the constant attention of both the political and social leaders of the country.