Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1904-12-28
HAVE A BAD YEAR
Race Plungers Generally Lost
Money During Season
of 1904
WESTERN MEN ExCELLED
Some of the Leaders Were Driven to
Turn Attention to Other
Lines

The metropolitan racing season was
among other things. for
the i'll success of the plungers. Only
few of the great bettors whose doings
were the talk of the racing world early
in the year cut much of figure. If
the general information obtainable in
Gates, Yeager and half dozen other
big players found the season disas-
trous one. Yeager is said to be $150.0oo
loser. Gates got tired of the game
and turned his attention to Wall street,
which ne finds easier 10 manipulate
than is the betting ring. Drake Lad
long run of hard luck. but reduced his
losses IN the last 80 days.
OF the half dozen men who are credit
ed with big winnings in 1904 all but
George Wheelock are practically I'M
known to the general public. Wheel
ock unquestiOnably is the biggest Win
uer. He has had a remarkably sue
cessful year OF the others, Charley
Cash. John Fay, Joe Hayman, and
Kid Rogers rank in the order named.
There is good authority for saying, pub
lie belief to the contrary notwithstand-
ing, that the ring is heavy loser on
the year The Metropolitan Turf as
ISOLATION. the official name of the book
makers organization, has member
ship of 200. The maximum number of
NETS" operating at one time this sea
son has been 30. This number was re-
duced as the season wore on to about
80. Only twelve of this number have
balance on the right side of the ledger.
Erroneous Impression.
The general public looks upon book
making as a sure thing in gambling,
but most of the men who try it do not
find it So The fault is that 80 per cent
of the books are not conducted on
strictly business principles. Most of
the men embark in the game without
sufficient capital to stand the strain OF
] period of i'll luck. Others try to do
100 much business ON too small CAPT
tai. The books with big capital have
come out winners; the others have not
One statement that may be surpris
ing is that the bookmaker who has
been most uniformly successful this
year, as he was last and the year be-
fore that. pays no attention to the past
of horses. To the advice
Of owners, to the reports of "clockers,,"
Dr to the opinions of trainers. He takes
no tips and he does not talk horse.
Matter of Mathematics.
He listens to everybody who wishes
10 talk to him. but he conducts his bust
ness on purely mathematical lines. He
makes his book according to the vol
lme of money wagered by the public.
He does not believe in refusing a bet,
40 matter how large or how small. He
figures that with ample capital he is
bound to win in the long run. He will
AXE a $4,000 or a $4,000 bet as will |
ngly as n SO or $40 one. with this ex-
:eption: If the ring price is even mon |
~ on a horse which q plunger like |
Drake or Gates wishes to wager $4,000 |
On, he will take the money at to or |
to 10. He considers he is getting it |
cheap at 9 to 10. 9 to 10 being 10 per |
cent below the market price, and to 5 |
)eing 20 per cent below the market |
price. He figures, as a matter of mathe |
natical equalization, that 10 or 20 per |
cent difference is certain, in the long |
'un, to come to him. He does not lay |
,ff dollar. He is there to sell goods, /
Wholesale or retail-it is all the same |
o him, except that he is certain to get /
larger margin of profit on wholesale (
han on retail. In that respect he re-
yerSeS the general order of things. The |
)lungers may have a run of luck with |
linn for a while. but the bookmaker
With the big capital he has behind him
S able to stay with them until the tide
urns. He feels that he is simply lend
ng money to them-money that is
pound to return to his cash box.
Best business Early I'm Year.
1t looked at one time this year as If
904 was going to be q record break
IT for the betting ring. The bookmak
rs had all they could attend to in the
pring and most of the layers prosper
ID. From July l on there was a de-
ided falling off in the volume of money
The dullness continued until
he last couple of weeks. There was q
gain at the Jamaica meeting,
Jamaica is one of the
mallest tracks, and there is fair
mount of business at Aqueduct. The
hen who make study of conditions
ay this is explained by the fact that
arly in the year Wall street was in the
oldrums- When the affairs are dor
nant in the stock market the brokers
urn their attention to other fields Of
ctivity. Hundreds of them look to the
acetrack- They must get action for
heir money. They can get quick ac
ion On a horse race. The boom in
tocks began about July 1. The dull
ess in the betting market was coinci-
ent with the arrival of the boom.
Westerner. Best Winners.
II is significant fact that most of
he men who are large winners this
ear are westerners. Cash, Fay. Hay