The New York herald., 1921-01-30
MAKE BOOK NOW
ON THE WEATHER
Odds of 6 to 1 Openly Laid
Against Rain at Horse Shows
and Trotting Meetings.
by GURNEY c. CUE.

Thanks to the bookmal<er, the man
ayers of trotting meetings. fairs and
horse shows no longer have to worry
about the weather Rain often ruins
these amusement enterprises, the prep
arations for which sometimes cost many
thousands of dollars. Until the book
maker came to the rescue there was no
way OF preventing a total or partial loss
when the raindrops' rhythmic beat was
substituted for that of the horses. But
nowadays the bookie will lay you little
better than six to one that ii doesn't
rain enough TO hurt your show on any
day you want to name.
The Westchester Polo Club put up
$3.50 to $1,000 with one of the layers
last season that it would rain on the day
of the polo show at Gedney Farm The
bet was lost but the show was favored
with beautiful weather. Out at Trenton
the managers of the fair wagered $4,000
against S20.0 that it would rain on
Thursday. always the big day of the
week for gate receipts. When it poured
all day. necessltating postponement of
the trotting races and all the other
features the officers hardly knew whether
10 rejoice or mourn. They lost the gate
receipts. but won the bet, which made
them whole
,nstic wagers on the weather are not
retired race track layers like Tom Shaw
and Orlando Jones. but new men, nearly
all of whom appear to hail from Hart
ford. the home of the lamented Andy
Welsh. When they make wager they
take your money openly and give you n
ticket showing what is coming to you If
.ou win, just the way they used to do
p Monmouth Park in the good old days
They would doubtless be indignant and
rilght refuse your money IL YOU called
them boolSmakers. but it's. the old game
5ast the same, only they call it insur-
rnce. The money put up by the track
1lanager is called the premium. the
ticket he gets is the policy. the odds he
takes is the rate and the layer of the
odds Is the underwater.
The distinction between bookmaking
and Insurance is this: One is forbidden
by law while the other is permitted
Apart from this there is no real diff
ference In the nature OF the contracts.
both OF which are wagers. The man
who has a prospect of profit or loss;
on money he has expended in prepar-,
ing to hold a race meeting, according
as the weather is favorable or un-
favorable. may lawfully agree with an
underwater that in consideration of
the payment to him of premium of
sl,500 before the day Of the meeting he
Viii pay TO the Insured person $4,000
II the meeting Is ruined by rain and
the courts win enforce the contract.
But If man who has entered horse
in a race at this meeting with the
prospect Of a handsome return for all
the money laid out in breeding, rear
ing, training and nominating the horse
makes an agreement with a bookmaker
that In consideration of the payment
to him of 81. 500 before the race he will
pay TO the owner $4,000 If the horse
Is beaten. then both. parties to the
contract would in most States be liable
10 arrest and punishment by the courts.
IT might. of course. be urged that the
contract was one of indemnity. but the
court would doubtless decide that
bet on O. horse race is not less bet
because 1t is a hedging bet instead Of
n bet ito win