The midland journal. (Rising Sun, Md.) 1885-1947, 1889-09-20
Pool Selling,

The recent breeze which the move
ment to license pool selling at the
EIkton Fair has started general
inquiry for an explanation of the
business. When used at a horse
race it may be thus briefly described.
The pool seller is simply an auction
eer. He need put no money in the
business.
The pool auctioneer calls out the
names of the horses that are to be
entered in the race. We will for il
lustration take the following entries
in the No. l, trotting. 8 minute class:
Play Boy, Grover c.. Billy D.,
Osker, Agnes NJ, Jacose.
Suppose the above six horses are
to start in one race. The pool seller
calls the names and asks for bid
for the choice of the entries. Mr..
Jones says $40. (Which horse,'
asks the pool seller. "Play Boy"
The money is handed over to the
auctioneer, the name of the bidder
and his choice of horses entered by
the clerk. Play Boy is taken. Chow
much for the choice of the other five
horses?' SIS may be and Billy D.
chosen. There are four more horses
to choose from, and the next offer may
be $40 and the choice Jocose. The
pool man may then ask for bid on
the field. The "field'' comprises the
three horses not chosen, Grover c..
Osker and Agnes NJ. We will say S.
is offered for the field. $40, $15, $40
and S., making "poor of $50. II
the first choice, Play Boy, should
win the race the man who put in $40
on him wins the pool. Or if any one
of the three field horses should win
the man who put in S. takes the
whole. Or any one of the four who
has an interest in the pool, whose
choice wins, takes the "pot," and the
pool seller, after deducting 5 pei
cent for his commission, pays over
the balance to the lucky man who
named the winning horse.
A dozen pools, more or less, may
be sold on the same race, and the
choice of horses may be varied from
one to three or four, but it is policy
TO leave sufficient number in til e
field" to induce bid, for in case
an untaken horse won the race none
of the stockholders in the pool could
claim the money.
1t will be seen that the pooling
device is the least Objectionable OF
the schemes to induce persons to
risk their money in the hopes OF
gaining larger sum, and is not en-.
tirely dissimilar to buying and sell /.
ing stocks, grain, meat, -four, ETC.,
etc, on "margins" which is carried
on at all the stock and other OK
changes, and reported in the city
papers every day.
Pools are sold at probably a
thousand miles from the races and
the business done by telegraph. A
pool seller could conduct the bust
ness just as we'll at one of the hotels
or offices in the town as on the edge
of the "speed ring at the Fair, if he
had access to the crowd. Pool sell.
ing and horse racing go together but
they are not natural branch of 40
rioulture, and sooner or later thew
are sure to part company.
"Book making" differs from pool
selling and is class of direct bet.
ting. The book maker names the
conditions, offering odds or eyeps as
the case may warrant 10 his iudg
ment, pocEeting the money when be
wins and paying out when luck is
againt him.
Horse running and trotting is
mostly done by professionals who
go in gangs and in concert with the
Jockeys make out the programs with
the winning horses named that are
to win, and the bets are made to
fleece the greenhorns, when the
winnings are divided among the
gang. This is NOTABLY the plan
which is said to be followed at the
Fairs.