The Washington times., 1930-06-18
PERCENT
/ BASIS USED
=. TODAY
BY JACK DEMPSEY
Tex Rickard was the real pio-

Tex Rickard was the real pio-
neer in promotional gambling.
There was none to equal him
I'm daring during the deyday Of
his career and now that Tex has
gone the game has returned to
the percentage principle. The lat
ter is a good "safety-first" pro-
cess.
A promoter rarely can lose
who does not offer guarantees.
Nor does he ever stand to win
very much.
Tex took his first big gamble
an 1905 when he offered $4,000
for a Gans-Nelson fight. He
made money on the crazy
scheme" His next plunge was in
1910 when he put up a purse Of
$10l 900 for Jim Jeffries and Jack
johnson to shoot at. Again he
made a huge profit: one far
greater than If he had offered
so per cent Of the gate to the
fighters to split in any way they
saw fit.
The 1915 promotion be-
tween Jess Willard and Frank
Moran in Madison Square
i Garden, whereby he put up
Il $4,000 for the star card,
a looked suicidal to many. But
RiCkard again was winner.
8 And in 1920, when he handed
Bill Brennan $25, 900 and gave me
$1,000 for an indoor show, he
established the record for a guar.
antee for an indoor fight. Yet
the bout showed a profit. Folks
thought Rickard had gone a bit
cuckoo in 1921, when he guar
anteed George Carpenter $780,
900 and handed me $S60,000 for
our Jersey City fight. When costs
of getting the land and building
the arena were added to our
guarantee it meant that Rickard
would have to gross about 81, ,000,'
600 on the fight to make a profit.
There never had been a mil
lion-dollar gate up to then
There was little reason to believe
that the show would hit that
mark. Rickard seemed due for
a "brodie." The folks who criti-
cized his gambling were certain
that he would be a big loser.
Yet Rickard made a gross profit
of more than $500, 900.
If he had gone on the prin-
eiple OF giving the fighters SO
per cent--the safe Scheme-he
would have made a profit Of not
more than 100000. But he gam
bled and made $500, 900.
RiCkard was ever . gam
bier. He never liked to play
things safe. He never pro-
NOTED q bout without being
sure in his own mind that 1t
would bring a tremendous lot
Of cash. He was not eager
to share the spOils with the
fighters. He hired them for
as low a figure as was pos
sible and then took the long
! chance that his judgment
would be vindicated.
Always Tex won-with a single
exception. That was the Tunney-
Heeney fight where he guaran-
teed Tunney $525, 900. That was
Richards only big error. Yet 1t
was excusable. He guaranteed
that money to Tunney long be-
fore he knew who his foeman
would be. He figured that Shar-
key or Risko might be the man.
But neither qualified for the
bout. Tunney demanded that
Heeney, never much Of a card,
be sent against him. -,
The bout seemed too one-Slded
to be attractive and plenty OF
people stayed away from the bat.
tlefield that night. So R1ckard
and his Madison Square Garden
associates lost around $16S. .OOO..
That didn't cure Rickard Of
rambling on fights. He point
Cd out that the loss came be-
cause there was not suitable
opponent for, Tunney at the
time. He insisted upon gam
bling still farther by guaraTk
teeing Sharkey 100000 to
! fight Stribling in Miami.
Rickard died before the bout
was staged but his Judgment was
Vindicated for the Garden profited
more by guaranteeing cash to
Sharkey than it would have by
giving him a percentage. Rickard
has gone.
And he took along with him
into the great beyond the spirit
of gambling in the promotion of
fistic battles. Others who have
followed him are against the
scheme that was typically Rick
ard, and these are days where
fighters operate on the percentage
basis.
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