BETTING AT RACES

Poverty Bay Herald, Volume LX, Issue 18068, 20 April 1933, Page 12

BETTING AT RACES

INCREASES IN PROVINCE WIN AND PLACE SYSTEM ' That, the Lie of four dividends where only two wen- paid before’has expanded the volume of betting on the racecourses is revealed by an examination of tile tolalisator returns of racing and trotting ■meetings held in tlie Auckland Province from the .beginning of the season on August 1, Since February,,, the win and place system of betting on the totalisatoe has displaced- the long-established method of 'paving only on the first and second horses and, without exception, it has resulted iu a larger turnover.. on the machine, Up to the time of th(e change the racing clubs’ figures had fallen by £34.857 55., Not only have . subsequent increases extinguished this decline, but, up to the close of the. Easter meeting at Ellerslie on Monday, there has been a net gain on. the previous season’s figures of £32,121 10s. A similar positionexists in regard to trotting, a , he£ decrease of £LJ,953 15s under .the , old system being more tlpin offset, by an increase of £14,998 10s. tinder 1 win and place, betting. ' , . .’ ' , While the increase in the. totalisatbr turnover is due, without doubt, the introduction of,Win and place Ib.ettirig, there is room, for considerable.'.cUfferejice of opinion as to what prpb'ortloii' iof the' • increase ‘is represented .‘lie on the racecourses. That tfre systom'lifts . attracted bets .which ! previqifilf'y,\\V,ere. planed elsewhere is. cettaiiij 'bill), those' j who follow; racing 1 greater’ part 1 of tlie )Tuc'rbskt?..y ; the wider circulation of the money'after each race. That the modest bettor on the turf who has a reasonable share of good fortune may collect one of four dividends' aiid plane either his wihnings or return his original betting capital to 'Me-totalisatbr on tlie next'race; Under -lo two dividend systeni many small ' et'tors were eliminated when their fanles failed to gain either first oi* second j !» Lace in tlie early stages of the meeting. For the clubs, whether -the iflorley is new or bid, the change *has helped materially in removing the cause for anxiety which has worried the executive officers. . Wit'h continually decreasing turnovers, their share of the totalisator profits was falling and jeopardising their finances., For the time being, at, least, they, may look at figures which are on tlie right side of the ledger.