Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1876-04-25
BETTING ON RACES.
The Respective Merits OF English
Hooks and American Pools.


The Respective Merits OF English
BOOts and American Pools.
Louisville Lsdger.l
About two years since Mr.. Geo.
Wilkes, Of the New York Spirit Of
the Times, introduced into this
country the English system of bet
ting on American race courses. It
is true Mr.. Wilkes did not himself
open the books, but by repeatedly
calling attention to the advantages
which books offered, and by per-
suading John Morrissey first, and
afterwards Kelly and Bliss, books
were opened in a few of the lead
ing stables at Jerome Park and Sar-
atoga.
But Notwithstanding the success
which attended the venture, even
to this day Saratoga, Jerome Park
and Long Branch are the only
courses whose stakes have been
honored with a book, Louisville,
New Orleans, Nashville, Lexing-
ton, Baltimore, and in fact all other
courses, are dependent entirely on
the old plan-the American pool.
There are many advantages in
| the English plan which ours does
not enjoy; but on the whole, if we
were to be deprived Of either, we
should be compelled to own pref
erenee for the American pool.
However, as there are many of
our readers who have but q vague
idea of English books, we explain
| the matter a little before saying
anything of its advantages.
In Englnd the book-maker is the
party who lays odds against the va
Ifous horses entered for the stake,
and 80 is the book plan as intro
duced among us, Say, for example,
that Ten Broeck, George Graham,
Volcano, Emile Cobb, Jack Trigg
and Judge Wells are entered for a
cup race, at 21 miles. The book
maker would look at the recorded
performances of each horse, what
he could learn of his private doings
at home, and then would set about
making up his betting list, which
is called the book. From the lot
above it would be almost certain
| ty that Ten Brock would win the
race; but then he might break
down before the race took place,
Or he might not start, OF might be
scratched by his owner, or soRe of
the thousand accidents. which
| horse Gesh is heir to might over
| take him; SO the book-maker would
say: 81 will lay 4 to | that Ten
Brock does not VIM Looking
at George Grahanl with the above
chances against him, added to the
! fact that if he and Ten Brock
came together right, that George
would certainly be compelled to
! take a second place, he would lay
to1 against him; about the same
against Emile Cobb, with 10 to l
against Volcano, and Is TO ]
| against Jack and Judge-and thus
would his book be complete. In
| this book he limits himself to a loss
Of ten or twenty thousand dollars.
| Of course only one horse can win,
and as bets are against them all,
every bet which is laid, excepting
the one against the winner, is cash
to the bOok-maker's pocket. So
also is a bet which lays on a horse
that breaks down or does not start,
and this, in fact, is the chief profit
4 teaped, for in a stake of forty
horses perhaps only ten will come
to the string, and Of these ten but
one can win, excepting in case Of a
dead heat when half is paid to each
horse; and it is from the large
amounts received from those which
| does not win that bOok-makers are
enabled to lay such heavy odds
against the different contestants.
The oraat advantaoea in the Enp-