The Bolivar bulletin. [volume] (Bolivar, Hardeman County, Tenn.) 1865-1888, 1876-05-11
BETTING ON RACES.
TlaR. Respective Merits OF English Books
and ulerican Pools

/ =
| ctiiFsGs: Is IL true Mr.. Wilkes did not
! himself open the books, but~by repeat
edIv calling attention to the advantages
which books offered, and by PersUading
| John Morrissev first, and afterwards
| Kelly and Bliss, books were opened in a
/ few Of the leading stables at Jerome
Park and Saratoga.
| 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 book. Louisville,
New Orleans, Nashville, Lexington, Bal
timore, 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 de
prived of either, we should be compelled
| to own a preference for the American
pool However, as there are many of
our readers who have but a vague idea
Of English books, we explain the matter
little before saying anything of its
advantages.
In England, the book-maker is the
party who lays odds against the various
! horses entered for the stake and so Is the
| book plan as introduced among us. Say,
for example, that Ten Brock, George
/ Graham, Volcano, Emile Cobb, Jack
| Trigg, and Judge Wells sare entered for
a cup race, at p 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
shove, it would be almOst-a certainty
| that Ten Brock would win the race;
| but then he might break down before
! the race took place, or he might not start,
or might be scratched by his owner, or
some of the thousand accidents which
! horse flesh is heir to, might OveTtake
! him; so the bOek-maker would say: 81
| will lay four to enc that Ten Brock does
not win" Looking at George Graham
with the above chances against him,
added to the fact that if he and Ten
| Brock came together all right, that
| George would certainly be compelled to
| take a second place, he would lay seven
| to one against him; about the same
against Emile Cobb, with ten to one
| against Volcano, and fifteen to one against
Jack and the 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, ex-
! cepting the one against the winner, Is
cash to the bOok-maker's pocket. So also
| is a bet which lays on horse that breaks
! down OF does not start, and this, in fact,
is the chief profit Teaped, for in a stake
| of forty horses perhaps only ten will come
| to the string, and of these ten but one
] av-ponFTrocr in of q dead hpgt
! when half is paid to each horse; and it
! is from the large amounts received from
! those which do not win that bOOk-makers
/ are enabled to lay such heavy odds
against the different contestants.
| The great advantages in the English
| system are-One knows exactly how
much money he will win or lose by bet
! ting on any named horse that he can
! bet as small or as large a sum as he may
! desire that he has no per centage to pay
on his winnings; that he can place the
bet at any time during the season when
| he has the money to snare, and Is not
cramped all at once. But the greatest
| advantage lies, where properly it should,
/ to the owner of the horse, the party who
! spends his money and time in creating
! sport Say, for instance, that an owner
! has a colt which he has entered in vari-
| Gus stakes as a two year old, and which
| has run unsuccesSfully as did Calvin and
| Pennington, here the owner has run into
great expense. When the three-year old
stakes are announced very heavy odds
are placed against his horse. In Cal
| wins instance thirty to one was given by
the bOOk-makers But very frequently
colt shows wonderful improvement at
three over his two year old career. Cd
course at home and by his owner Is this
first known. Aagain, recurring to Cal
vim, in this very manner was Mr.. McCzTath
enabled to win $4,000 for $500, as Cal
win won his three year old stakes right
off the reel, while as two year old he
was worth nothing at all.
Under the pool system this would
have been absolutely impossible, for as
the colt had been galloped on the track,
! half the bummeTs of the town would be
living in fence corners catching his time
and telling of the discovery made.
Still English books have many disad,
yautapes. as we have already shown, and
besides, to those who have no means o.
knowing anything about the horses, {
personal observation is necessary tC
such rs wish to place their money intel
Iigently, and not altogether from chance
while in a heat race, one has chance Il
hedge, which is something unknown K
the English practice. Hedging, in fact
is always possible in pools if one vii
only take the time to wait his chances
as pools constantly vary during an even
ing selling to so large a per cent. il
fact that we would not like to name the
figure for fear Of not being believed.
But the greatest impOst which is placed
on the American pool is the per centage
a sum on a weeks racing 80 enOrmou
as TO frighten anyone that will take time
to calculate it. Three per cent. fou
times a day is twelve per cent, and OF
the six days is seventy-two per cent.
provided one will bet on every race, anC
as every race has to pay the per centage
, the bookseller actually gets that amour
during the week, and this is what en-
abIes Morrissey to pay the jockey clul
$4,000 a year and have a little to spar
for himself
DEEP WATER TO THE GULF.-W
? have had the pleasure Of meeting Car
5 tain John Cowdon, Of Memphis, Tenn.
but formerly a citizen of New Orleans
, who is here in the interest Of & grca