On the Turf.

New Zealand Graphic, Volume XLIX, Issue 10, 5 March 1913, Page 13

On the Turf.

FORTUNE HUNTERS. Some of thkir systems It was quite by accident that at an important race meeting I became acquainted with half a dozen men belonging to the comparatively small section of the community that earns a livelihood by horses on the course. 1 had often heard of such men and had been led to suppose that their calling was a very precarious one, also that they led lives of dissipation. I can only say that the fortnight I subsequently spent with them, to all intents as their guest, was most enjoyable- It served also as an interesting experience, and quite expelled the false impression I had formed of professional backers of horses, considered collectively. Two of these men, it seemed, had been public school and university men; another had been a gentleman rider of some repute; one., oddly enough, had for many yeai's been a coal merchant. The other two I did not classify, beyond ascertaining that their fathers before them and their grandfathers had been professional backers of horses and had apparently done well in the "profession.'’ "Fortune hunters,” I have called them, and so such men are in the sense that all who earn a livelihood by any form of speculation are fortune hunters. From the beginning of the flat-racing season until quite the end of it these men, and probably scores of others, travel from racecourse to racecourse. That does not mean, however, that they bet on every race, or that they bet every day. Quite the contrary. To lie successful at backing horses a man must possess, as these friends of mine explained to me, five important qualifications. He must have an excellent ‘‘all round” memory, he must have a good head for figures; he must not be a gambler; he must have enough self-restraint to refrain from betting on what are technically termed ‘‘impossibilities,” and he must have pluck enough to lay heavily on occasions. “Ours is one of the only systems by which an income may be earned by a backer of horses steadily, regularly, aud consistently,” one of them declared; “and a backer of horses cannot conduct operations successfully for any length of time unless he works in partnership with others, as we do, and unless he personally attends meetings regularly. Alone he may last for a little while, but sooner or later he must fail, and generally it is sooner. This has been proved over and over again by any number of professional backers'-'’ "Our exact method of working?” he said, in answer to an inquiry. "That I cannot tell you. This I will say, however, the lowest number of partners able to work successfully is three; the highest is six. If we were seven instead of six we should do no good in the long run, even though for some weeks our profits might be considerable. There is nothing speculative or uncertain when operations are conducted as we conduct them, always provided that the operators understand their business. No, you don’t want any capital to speak of—at the start. Our joint capital when we began operations eight years ago was barely £500.”

The ordinary man who, unable to attend raee-nieetings, seriously attempts to supplement his income, not to say earn a livelihood, by backing horses, is usually an individual of small intelligence. He may back horses now and Again by way of amusement, but that is a different thing. The first meeting I attended with my friends—for sake of brevity 1 will in future refer to them as “the syndicate”—was tbe Craven Meeting at Newmarket. On the first and second day tbe syndicate remained pas sive; they termed it “dormant” —that is to »zy, during the whole of tho->e two days they did not make a bet. On the third and last day they remained “durniniit" for the first two races. As soon as tbe uunrbers were twisted for' the third raw, however, they all separated, and I did not see them again until the

horses had passed tlic post- There wi* a very big field in this race—l think: about twenty starters —jind a horse caHed Th rave won, the second being Kufrosina, and the third La Touquet. Over this race they netted between them X 237, backing nine horses in all, some for large and some for small sums, some each way, and some lor a place only. “There is one rule we made three years ago, and have not yet broken,” one of them voluntoeicd, “aud that is never to lay odds on, no matter how many starters thei*e may bo, and no matter how great the temptation to tweak the rule may be. Laying long odds wilt sooner or later wreck the system, no matter how carefully adjusted it may be. The main system that we work/’ he ended, “is the outcome of long and patient study; experience—bitter experience some of it—has taught ns aiany things.” In addition to their main system, however, they ■“ worked ” I found, several by-systems. One of t hese they revealed to me, and a very simple and safe system it is—it is so safe that no bookmaker, they assured me, wili entertain it, and OQMseqMently it can be worked only on the course. Briefly, it is ttasi When four or less than four horses start, and the favourite starts at <xids on, back every starter but the favourite, provided, of course, that the prices quoted make this possible, and every time the favourite wins, increase the stake on each of the outsiders by one-third. Once, twice, perhaps five or six times in succession the favourite may win. Then ■will eoiue a day when in a race with two.' or three starters the favourite starts Jong odds cn, and the others at very long odds against, and the favourite is beaten. “ This by-system,’” they assured me, “ we have followed for four years, and it has never faded us. If you like to look up in ‘ Ruff’s Guide ’ all the races run in this country during the last four years, you will see for yourself how sound the system is—as a by-system only.” A strange life, and yet. when all is said, pleasanter than the existence spent by many a city financier who. taking one year with another, does not, to my knowledge, earn a larger income than these professional backers of horses do. An outdoor life, too. for of course the syndicate travels everywhere by car — a 60 h.p. Daauiler hired by the month. Hotel and incidental expenses are considerable, and these have to be taken into consideration and carefully weighed when the scale of betting to be adopted is being decided upon by a new concern. This particular syndicate, when it started operations eight years ago with a. capital, as stated, of Jess than £5OO, travelled by rail, and third class; oniy cheap hotels were patronised; and all betting was done outside the enclosures. Then, as prosperity came along, the syndicate rose to the dignity of the Salver Ring. To-day it would, scorn to do business outside Tattersall’s Ring. With reference to hotels and living, certainly my hosts spared no vxijensc. Everything was of the best, though reckless extravagance was avui-Jed. “ Plenty of men who start in this business,” one of them observed laconically. “ make too big mistakes. 'Tiny want to get rich too quickly, and they l»egiu at the spending end. It is useless trusting to luck, for what is caHed Juuk has notJiing whatever io do with it. The only ‘luck* connected with the business is ‘luck’ that is the outcome of careful calculations and a carefully thought ■ out plan of campaign, and really that is not luck at all.” It may be urged that backing horses in this cold-blooded, matter-of-fact way reduces the sport to a purely vommereial enterprise. That is exactly what it is intended to do, for only by setting all question of sport completely aside can the punter bo io to benefit pecuniarily. The man who is a judge of horseflesh, and who likes to back his fancy, has as much <‘hance of coming out a winner in the long run as a roulette player is likely to win at roulette because he knows all about roulette tables and how they are manufactured. Sport, properly so-called, has ho connection with belting. s|Kntsmau is the man with grit, who docs things. 'Hie betting man pure and simple, is tbe man wlw> “ knows all about it ” and took* on. Basil Tozer, in •‘OirtkxA ”