Morning journal and courier., 1893-12-14
The Profits of Rookmakers. From Harper's weekIy.1

"cchy.I
 Racing in America Is not in ss good re- pute ss 1t was some years ago. It has now become 8 regular business instead of 8 sport, and the bookmskers of the betting ring probably have more to say In mana ging races than any other class of men. These bookmakers age not only owners of horses, but owners and managers of race tracks. They make the laws of the racing world, and break those laws whenever 1t suits them. A more idiotic Idea never e1- isted in the world than that man by per sistent betting and "good luck" could overcome the percentage that the book makers have In their favor.
 If men must bet on horse races, 1t would probably be better and more in their favor if the bookmskers regulated the odds en- tirely according to the amount of money placed on each horse. Then the bettors would merely be paying to the bookmaker @ certain percentage for his services in clearing the bets. But. as has been said before, many bookmskers are also horse owners and raoe-track owners. Under such circumstances 1t can be readily be- lieved that they have every facility to win tuC ol OcttOLc hAc latter chance whatever. Say that 6 bookmaker or an owner iu league with & bo7kmaker has horse of great speed and endurance The bookm&ker causes this horse to be beaten repeatedly by inferior animals. The race going public concludes that the horse Is not nearly so good ss had been thought. This conviction having been arrived at, the bookmsker puts him in a race; the public bets heavily upon other horses, the bookmsker giving all kinds of odds so as to induce heavy bet
 ting. Then In the race his horse or the horse he controls is cut loose, and wins
 money in the book. The nen who go into the business of bookmsking are not, as 6 rule. persons of the highest moral sense. The legitimate profit from a book made with mathematical exsctness should bs great enough to satisfy the desires of any we'll regulated man. But the chances in favor of making a large sum out of one race, by methods highly considered to be disreputsble, gre 80 great that 1t Is most exceptional bookmsker who will not go into a combination or conspiracy to de- ceive and rob the public. At an ordinary rsce-meeting there are fifty bookmsksrs In the ring. Sometimes there are many as eighty. When there are fifty the expenses of these bookmakers are g. 500 day, of $112, ,5e0 for 8 meeting of fifteen days. Now it Is absolutely necessary for these
 bookmskers to tax the bettors during the
 meeting $112, 300. Each bookmaker, of course, tries to make good deal more than | expenses, and If they all succeed, the tax | would be at least $225, ,000 during each meeting or fifteen days. If we should add
 to this amount $200, 900 as the amount won by the bookmskers, not as msthemsticiAns, | but as gamblers, we should come to some | thing near the amount that the bookmsk' CTS exact from the public at each race. | meeting of fifteen days. This $425, ,00C | only represents the amount of money that | the bookmakers take from the public in an | ordinary rsce-meeiing. It Is probable that there is a small and select ring of bettors f who win at pretty nearly every meeting Certainly these winnings must average | $75, 900 at each meeting. This would | make 8 grand total of $500, 900 that the public pays for the privilege of betting al | a race-meeting of fifteen days. It would be hard to get at the volume of betting a,
 each raos-meeting, but 8 half million of dollars Is 6 very large sum of money, and
 great many pocketbooks have to be emp tied to make 1t up. The ordinary visitor
 to race track probably pays, even though
 he have good fortune, 8 tax of ten per
 cent. upon all of his wages. At this rate, | taking five successful and five unsuceess-
 ful bets, the capital first invested is likely
 to be exhausted after ten races have been | speculated upon.