The sun. [volume] (New York [N.Y.]) 1833-1916, 1893-08-06

to note the accidental marks on the backs Of
playing cards, and still more to make such
marks, will yet avail himself OF knowledge jus,
as unfair IN horse racing as b ~ wSss OF
In tcart6 Take. by way Of ILLUSTRATION the case
OF one who knows that, as the resntt 9. a
great race will take part in It indeed. but will
only do so TO make running for better morse.
anti the time whsn tnH aSne such S tnoWedss
waeers in favor OF the former horse: and he
is offered him except by persons ignorant OF
the true state of things. Eyen II sucn omets
are mado BY book makers. whose pro nnt ion, a
particle OF sympathy. the acceptance OF sue ~
wagers is in no sense justifla BILE, No more IN
this case than in any other will TWO wrongs
make right.
Mr.. Proctor. Of course. does not mem TO deny
that money may he gained quite safely by
gamblers. Gambling banks, like the estab-
lishment Mt Monte Carlo. may look forward
with perfect confidence to earning handsome
dividends upon their capital ut the end oil
certain period Granting. first. odds such as
tho banks" have in their favor: secondly.
sufficient capital to avert premature collapse,
and, thirdly. gu fflcicnt number OF customers,
success is absolutely certain In the long run.
SO. too. in betting on races. success may be
relied upon by bookmakers who understand
their business. or. in other words. who
SEQ to 1t that they ALWAYS have In
their favor the conditions Just specified.
The author goes into an extended mnthe-
mntical explanation OF the method OF
laying the odds as to win. Considering the
matter from the viewpoint OF those who makea
business Of betting on horse races. Mr.. Proc
tor propounds tho following rules for a lucra-
tive practice Of the profession. In the first
place. the book maker must always lay odds
against horses never back them. Next, he
lays against every horse in the race as early as
possible when the odds are longest. II no lays
against few which are certain not to run. 80
much the better for him: that is SO much clear
gain to start WITH He should proportion his
wagons 80 that the sum OF what he lays against
horse and what he is backed for. may
amount to about tho same for each horse:
The precise system requires that It should
be exactly the snme. but the bookmaker often
special cases Of his own knowledge OF u horses
Chance and Of his opponents inexperience.
me! II every ease ne lays ODDS ODDS nont or two
Mhen his book has been made up, upon
these PRINCIPLES. the bookmaker Gapp watch
horse 10 successful the BOOK max err must win
money the amount Of which can be deter
adheres to the well.known principles OF book
from ms victims. while he always'inys the cd DIS
not fail to teke fancies for nom iavortes and
TO back their fapcies boldly, too. They deem
It absurd to haggle about odds in the case OF
horse which is morally sure to win. or to in
slst on ten to one when you are confident that
the odds are not seven to one against a horse.
When the simpleton wins he assures himself
that he ia In tho vein and goes on betting:
must change. and goes on betting I'LL the same
by continuing patiently in this course he is
likely to learn before long how 1t Is that the
book makers make SO much money.
1t is. we repeat. Indispensable. to lay less
Eat o M is to
must be made with Inexperienced persons. II
al bettoTs were equally experienced. the prob
pose. for instance. there are three horses en-
gagged !; in race with equal chances Of success.
to one against each. But. II a bookmaIer can
Eet 2 person to take even betting against q
rst horse a. 49, second person to DO the IKE
The like about the third horse tC) and if
Ill these bets are are made for like amount:
one thousand dollars on that horse IA. but |
TSus The on wsae @ the bss
gains one Thousand dollars. the sum laid out |
IN ea nc horse. II the layer Of the odds had
suppose; for instance. that he laid one thou
zach horse and won: then he would have to
,ay one thousand dollars to the hacker OF 4. |
i the bakers Of and G. IN liz ipHm eseh
person who backed his horse to the same ex-
v.
In a chapter on lotteries Mr.. Proctor reviews
he extent to which they were authorized in
england during two centuries and a half.
The earliest English lottery recorded is that
II tho year 1863. when 10000 chances were
old at ten shillings each. the prizes being
rtieles OF plate. and the profit being used in
he repair Of certain harbors. The gambling
pirit seems to have developed greatly during
Ire next century. for. early In the reign OF
lueen Anne. it was found necessary to sup
ress private lotteries MS public nuisances, a
description quito as applica Bile to public lotter-
ss. In the early period Of the history Of
he English national debt 1t was GUS
omary to pay the prizes in the
tate lotteries in the. form OF termInable an
uitles. In 1904 loan Of a million pounds
'as raised by the sale OF lottery tickets at ten
ounds pcr ticket: the prizes were to be
unded at the rate OF ii per cent for sixteen
ears. In 1748 loan Of three million pounds
'Rs raised on per cent. annuities. and a lot
cry OF fifty thousand tickets OF ten pounds
ach; and in the following year one million
Tan raised by the sale Of one hundred
lnded In perpetual annuities at the rate Of
Per cent. per annum. The last occasion on
'tich the taste for gambling was thus made
se OF n England occurred in 1850. when every
uhscriter OF one thousand pounds toward
loan Of twelve million pounds at i per cent
eceived a bonus OF four lottery tickets, the |
intrinsic value of each Of which was fl0 Even
late as bali century ngo an American law
er OF high character WAS not nshame ed op,niy |
. defend lotteries In the following terms: II
m no friend. he said. ito lotteries. but cam
ct a, admit m, that they are per Sc criminal or i'm
distances 1t was tho manner in which they !
ere managed. In England. IL not in France.
here were lotteries instituted by tho Govern.
tent bo apa It wrf fair
isnosed to dissipate their funds. The Ameri.
an Congress OF 1875 instituted a national
'ttery. yet, perhaps. no body OF men ever sur.
a ne them n in I,t inteigence and virtue
urg lotteries Is pronounced by Mr. Proctor
fair Here. all the money for
hich tickets were sold WAS distributed in the |
,rm OF Grlzfe e, except deduction Of ten per
tent. The experience Of those who managed
10 earlier State lotteries showed that from |
zen In general especially the poorest. forming
10 great bulk OF the population who place
al on I'll,