, 1875-07-10
THE SCIENCE OF BETTING,
The Various Systems of Pools.

general that human ingenuity hss oooh
racked to devise new methods 20 CRAFTY IT,
" A man, said prominent lottery dealer 10
the writer The other day, " who could devise
8 new system of alIotting prizes, even II 1t
were no better tnsn the worst OF those now
in use, would make fortune"
II this is the case in method OF rlsklng
money on chances which rests under the Dan
OF the law, the system Of betting upon races,
which receives the sanction of 50 large por-
ton OF the community, has been made the
subject or even greater amUnnt OF study and
and inventive application. The result, how
ever, practically, is four different systems:
The first-that between one individual ana
the other-is probably as old as the human
race.
POOLS BY AUCTION.
For many years the most popular system
Of betting on racing and other sporting events
" as by the auction Of pools, OF pool selling,
as 1t Is called. Let US suppose horse race IN
which several horses engage Is the SUBJECT OF
speculation. The pool seller offers at auction
what he terms the g first choice. " His pat
rUDs understand that this means that Il bet Is
to BE- made on the favorite against every
other horse in the race. al Il give one hun
dred dollars for the first choice, says a bet
ter "0ne hundred dollars is offered, cries
the auctioneer. No one offers more, and the
better pays down has money and secures the
right 10 place it on whichever horse he
pleases "a Is the fAvorire, and he bets on
that horse What is offered for the second
cholce?" shouts the aucrioneer- Fifty,
"sixrv," " stventy," are the cries of the
speculators. Done at seveny dollars,
cries the auctioneer, and the second better Sc
lects "B'' OF &c If he pleases. Then the
third choice is offered and suld and last OF all
the " field, " or he group OF horses entered
in the race, bnt whose merits are not well
enough known to guarantee their Individual
-ntIun- These four sums of money thus
ri>ked upon th- fir-S, second or third choice,
and ou the f-ld, constitute IL pool, to bs
turned over, minus a commission Tor the pool
seller, 10 the man who has placed his money
on the horse that WIS the race Each pr
son purchasing a pooi receives a ticket, duly
numbered and recorded by the auctioneer,
bearing the name OF the horse be has selected.
BOOK BETTING.
The system of book betting has been in use
in this country bar Il comparatively short
time. To the uninitia,ed The term Is only
a source of mystery 4 E2n who opens
books on a race must be well informed on all
poin barring on the speed, bottom and p,ob-
able condition Of The several horses hat are
entered. He arraages a series OF odds on
each one as against all the others, which odds
are offered to the public. Ia looking down
the LIST printed on a card 81 gentleman may
find that opposite the name OF SpringbUk the
odds are five 10 one. He knows, therefore,
that IL the opinion of the book maker there
are five chances that Spring gbok will be beaten
by some one of the other horses III the race
10 one thai he viii win. If, therefore, he
has better opinion OF Springbok, he backs
that opinion by paying into the book keeper
any sum Ut mou-y he chooses above ii certain
prescribed minimum. II Spring box wins he
Will receive five times the amount he has
ventured Ii the horse does not win he will
receive nothing. In race in which there
are twenty horses the odds offered will run
from two 10 one up 10 thirty or more 70 one
Suppose the least likely horse to win, then,
ii the minimum investment is $1,000, the
IN IL who bets on the winner vail receive
$50, 600, less the percentage of the book
maker, and, IN turn, the book-rnakcr VI i
nav -NN'A''- A.A9 lD'si' M a. l. -
called, on every horse. from v hIch to pay it.
II two persons have accepted his odds On the
horse IN question he viii have to p.y out
S6J, $50, and If his salves of other hur~-s have
been complete he may be q heavy loser
The pecEliar features Of this mode Of bet
ting are hat the Sums bet are USUALLY quite
large, and Jhat if horse changes owners or
for any other reason does not run, The money
OF the investor Is not returned TO him, hut be-
longs 10 the maker of the book This is I.
favorite wayof betting with wealthy sporting
men who prefer to risk large sums.
TAE PARIS MUTUALs.
The only other system of betting that re-
mains Is one that. has attained great pop
nlarlty within the past four or Ave years,
81 &c. is Introduction into this country from
France, namely, the Paris mutual pools.
The seller OF the pools III this instance stands
behind couater on which there is il series If
brass knobs arranged like the keys of =. piano
board. Suppose there are twenty horses en-
tered. The tickets are ALWAYS five dollars "a
piece y person desirOus of investing viii
purchase ticket on any horse he chooses
Immediately a key Is struck, and he seis ON
the face Of a large machine standing against
the wall figure | appears opposite the name
OF the horse designated. II u second person |
invests on the same horse the same key viii /
be struck, and the figure l will disappear
and i4ure viii appear in lis place. IN |
looking up and down the list Of horses on the !
board be sees various figures opposite the /
horses names. From these he knows lust !
how popular each horse l. In the opinion OF /
those who have gone before him. II be |
thinks any hrrse, although poor one, has /
been rated too low, II al once becomes his in
terest buy icker npon him. The sum /
Of ali the numbers shows Cst how many !
tickets have been sold. Suppose it amounts /
to 100, hen 500 has been paid 30 tie pool I
seller. Now, suppose again hat C. wins, |
and hat ten tickets have been sold on HIM,
Ihs entire sum, $500, l. divided between the /
holders Of ia, se ten tickets, after a small per-
centa-se has been deducted Us the profits of |
he pool s-ller-
HISTORY AND POPULARITY Of TIE SYSTEM. |
! comparatively short time only has /
el pSed since h. system OF murUtl p5,S WAS !
devised lad he machine invented by an in
seuious t:euohmau by which Ii record is
marked OF each investment made. TIE mr.
rs and easy applicability of the system were
1t once perceived in Paris by an eminent
a American gentleman who was sojournrng in
the French capital, and he brought numb-r
Of the machlues here. The system Was at
once received with favor by The public. aud
Justly 50, Tor It l. the only way In which tn
man who only seeks moderate risk can !av
out ms money, while rhe iull publicity of ali
the Transactions and the checks which are
employed TO perfect The system render he
Preparation OF any kind OF fraud nearly i'm
possible, IN the face of hundreds Of men who
surround the stand upon which are placed
the machines, the placards, and the opera
tors. The public knows this, and the on cry.
raised mainly by men who have tried to get
control Of The system themselves and failed, /
Is OF no effect These parties may believe