BETTING RECORD
The Year’s Figures
MORE THAN £25,000,000
WELLINGTON, Oct. 6.
Betting on the totalisator in New Zealand created a new record in the racing year ended July 31, 1950. The Census and Statistics Department, in figures released today, stated that the total sum put through the totalisator for the year was £25.041,532. compared with £22,837,195 for 1948-49, and £23,209,986 , for 1947-48, which were the previous highest figures.
Of the amount invested on the totalisator, 82.69 per cent, was returned to investors by way of dividends, Government taxes (less refunds) absorbed 9.13 per cent., and the racing clubs retained 8,18 per cent. The department notes that an event of interest during the year was the introduction of the doubles totalisator which operated from December 17, 1949, for the first time since 1907. The amount invested in this form of betting from December 17 to July 31, 1950 (the end of the racing year), was £1,161,122.
The department adds that it should be noted that not all clubs operated the doubles totalisator, particularly during the earlier portion of the period under review, and the figures quoted cannot be regarded as indicative of the amount that may be expected to be put through the doubles totalisator in a full year.
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Bibliographic details
Otago Daily Times, Issue 27514, 7 October 1950, Page 6
Word Count
208BETTING RECORD Otago Daily Times, Issue 27514, 7 October 1950, Page 6
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