Hear the Other Side. TO THE EDITOR.

Otago Witness, Issue 2244, 4 March 1897, Page 32

Hear the Other Side. TO THE EDITOR.

Sis, — Mr Norwood Young's article is a very one-sided one indeed. He thpws the advantage tho bookmaker has in a £110 book on the Prince of Wales's Stakes, and then asserts because the bookmaker does not lay the mathematical odds the totalisator must be the best form of betting, but he doesn't show the odds the totalisator lays or what advantage it has in the betting. To fill up the gap I will not make an imaginary book on the Prince of Wales'* Stakes, but will endeavour to show in actual figures the odds laid by the machine on Lord Rocslyn in the Dunedin Cup, and the fair and proper odds it should have laid by the following table. The odds in all the columns are actually correct : —

This supplementary table is to give it in the form of odds instead of dividends :—: —

A backer wbo made the bets shown in the fourth column would come out straight without loss or profit whichever horse won, and as he couldn't win or lose he would be having all the fun on his own. These, therefore, are the fair odds — to wit, 10 to 4 instead of 6to 4 ; or, in actual money, Lord Rosslyn should have paid £3 8s instead of £2 9s. Someone reckon up the percentage againit the bicker here — that is, provided the totalisator was a good sportsman, and did not wish to make a profit or take advantage of its clients. Trusting you will insert this as a warning to a large* and ignorant public against betting with the tote — I am, &c, March 1. Poker Ned.

Horse. Skirmisher Plotter Lord Rossly v Actual Fair Proper Dividend Dividend. Bet. £a. d. £s. d. 210 0 210 0 78 to 52 350 350 90 to 40 290 380 92 to 38 130 Total Stake 130 130 130

Horse. 'roper Bet. r Total | Stake, | Odds. Odds. Skirmisher ... 6to 4 hotter 13 to 4 ..ordKosslyn... 6to 4 6 to 4 13 to 4 10 to 4 78 to 52 130 90 to 40 130 92 to 38 130 130