BOOKMAKING.

New Zealand Illustrated Sporting & Dramatic Review, Volume I, Issue 12, 18 October 1890, Page 3

BOOKMAKING.

OLD TURFITE.]

[by

The question has often been asked how is it that bookmaking is such a profitable thing that many leave a good paying business to take it up ? At the same time backers in ninety-nine cases out of a hundred come to grief. The answer lies in a nutshell. If you have a good connection there is no trouble in getting round, and then you are sure to win if you only make a square book (a thing, I am bound to say, I have never seen done in the Colonies, and this is the cause of so many of the fraternity going smash). We will take for instance the V.R.C. Derby. The quotations in the Star” of last Monday are as follows :—2 to 1 against The Admiral, 4 to 1 Gibraltar or Annesley, 8 to 1 Whimberel, 10 to 1 litan. It must be allowed that these are the prices that backers will take, so we commence a Hundred Pound Book and lay as follow: — 67 to 33.10 = The Admiral. 80 to 20 = 100 Gibraltar 80 to 20 =lOO Annesley 88 to 11 = 99 Whimberel 9 o to 9 = 99 Titan 93.10 Here we have 10s. in our book, so therefore can only lose on it, and there are such horses as Magic Circle, Highlander, Correze, Gatling, Jew Boy, and several others, that are sure to come into the market before the day, so there will be no trouble in getting round and making a certainty of winning. At the same time we keep our fancy, therefore if he wins you skin the lamb, if not stand to win something on your book. The answer to this will be—what rot! As a man said to me the other day, “ I have laid all my money long ago against so and so,” and I simply said, “ More fool you.” To commence a book at the start you should never lay more than onefourth of your intended book at such prices as you can get backers to take, then when you have some field money, say 25 per cent, of the amount of your book, increase it another fourth taking care to keep 25 per cent, until at least a week before the race, as the market will then be settled, and you can bet up to your book. If you follow these principles you are bound to win. The following bookmakers that I knew in England followed this system, and from a low origin died wealthy men. Davis began life as a carpenter, and died at about 60 years of age, worth —leaving to the town of Brighton John Jackson, who after he bought the celebrated stud farm was commonly known as Jock of Fairfield, who also at one time owned the celebrated stallion Blair Athol, commenced life as a greyhound slipper, died comparatively a wealthy man, and would have been much richer only he took to drink and fooled a lot of money away. Billy Nichol, of Nottingham, was boots at a low hotel there, and commenced ready money betting. The last I heard of him he was worth between and £400,000, and had j'ust been elected for the third time a councillor for Nottingham. Hibbard, another wealthy Nottingham man, commenced life in a very humble way, and has given over to the charities of his native place. Fry, who is at present one of the leading men in the English ring, commenced with nothing, while the Leviathans, Steele and Peach, who are considered millionaires, were in 1853 and 1854 hawkers in Sheffield, and well do I remember them coming into the barracks, ostensibly to sell fish but in reality to bet their half-crowns with the men. There are many more instances I could mention where men have made large fortunes by bookmaking on the correct principle, and never taking a liberty. One thing noticeable in England is the scarcity of Jews in the ring. The principal ones used to be Johnny Gideon—well known as the chief backer of prize-fighters—and the three Morris’s —well known in Paris as well. In the Australian ring their number is legion. Judging from this the game must be more profitable in the Colonies than in the old country.

The name of Vengeance appears in the list of entries for the Melbourne Stakes. If he starts he will carry the same weight as Carbine.