HOW THE TOTE WINS.

Poverty Bay Herald, Volume XXXI, Issue 10038, 3 May 1904, Page 4

HOW THE TOTE WINS.

In an interesting article on "What the Machine Wins," by "Onlooker" m the Hawera Star, that writer goes into detail as to how much tlie totalisator takes, out of £100 invested at, a two' days' meeting, which comprises 16 events.* He states if we follow the fortunes of, say, £100 of the money taken to a race meeting m being invested and re-invested the result disclosed is astonishing. The principle governing that £100 m its rapid, reduction is the same as would be the case supposing that 100 persons, each with £1, attended a two. days' meeting and invested the whole of their money on each race. And as the consideration of the case m this way will make the point clearer we will adopt it. For the original investment of £100 we must follow .tho sum, 10 per c_nt. being deducted each time. A tabulated form will display the decrease to better advantage, fractions of £1 being omitted :— First race, £100; seccvnd, £90; third, £81; ■fourth. £72; fifth, £65; .sixth, £59; seventh, £53; eighth. £47. It will be seeu that, at the* conclusion of the first day's racing tlws totalisator has had "a pretty good time." But to continue: — Ninth race, £ .3 : tenth. £38 ; eleventh, J £35; twelfth. £31; thirteenth. £28; ' fourteenth, £_5 ; fifteenth, £23 ; sixteenth. £20. 1 The position is now established that oj; the £100 taken on the course by our 100 investors only £18 remains to be divided amongst the winners. At .'a. .uiatter 'of fact, even that sum would no t be left to the investors as a portion i n "odd pence" would also have been reta Jned by the insatiable machine. In con nection with the imaginary case made usi s of it may be remarked, m conclusion , although, there AVas only £100 origball 1 y no less a sum than £814 would be shoi vn as having passed through tho totalisato; t.