Discussion of Bookmaking Methods, Daily Racing Form, 1909-07-08

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DISCUSSION OF B00KMAKING METHODS. "How the different ways of bookmaking are viewed by peoplo in and out of the business and what figure is cut by the style used "was a subject that was discussed many times since the Latonia meeting opened," remarks the Cincinnati Enquirer. "In all of the years that the track betting ring was open to lKXkmakers the big booths and slates held forth. Last fall and at the meeting just closed the small hand slates have replaced the other form. Many ask why the change. Bookmaking is bookmaking. whether the slate Is big or little, if a ticket, is given out. The change was made chiefly to get a larger number of bookmakers. The track naturally expected to profit by this arrangement, as It was figured that over double the number would cut in with the tariff fixed at 15 per race. With the booths it was 00 a day. cut in for two or three days, and each bookie had to pay part of the sixth purse. The little slates gave a chance to cut in with a small bankroll and take a chance, but in this particular Instance the eastern style failed to accomplish the purpose for which it was employed. "The bookmakers did not come this way. and to read of seventy-seven doing business at Toronto and fifty at Hamilton, is enough to make one sit up and do a lot of thinking. There must be some reason why Cincinnati is not on the map when it comes to racing. The chances are largely that there are reasons why a bookmaker should not come to Latonia. But thats another story. "The question is, who profits by the small slate, the player or the layer? Both would make a good answer. "At times the layer can get the money in cheaper and again the player can get a good price before the bookie is aware of whats doing. What is being done is too plainly shown by the big slates and the bookies watch each other liku hawks and rub at the first inkling that a horse is going to be played. When he sees a horse is being bet on at S to 1 he doesnt wait until the mones- is offeied at those odds, but anticipates the customer by laying six. Thats the gag with the booths and big slates. "It lias been shown where a horse was backed from 30 to 1 to 5 to 1 and not a penny wagered. There is where the small slates pinch the layer who has been accustomed to trade on what his brethren in the ring arc doing. He cant see with the hand slates, and has to wait until his trusty runner arrives witli the information, and then perhaps the lire is out."


Persistent Link: https://drf.uky.edu/catalog/1900s/drf1909070801/drf1909070801_6_4
Local Identifier: drf1909070801_6_4
Library of Congress Record: https://lccn.loc.gov/unk82075800