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COMPLICATIONS OF BETTING ON CREDIT. In England not all. but the great bulk of track betting, is done on credit. Those who have access to thetoetting ring make thebr wagers from Monday to Saturday without any money passing, bookmaker and patron keeping their own separate accounts of transactions. Thin each Monday they meet at Tat-tersalls and balance accounts, whichever is in arrears paying the other whatever may "be due. It is a point of honor to settle. Credit may be extended if one is unable to" pay on that day. but at any rate he must be present in person or by duly authorized agent, and make arrangements satisfactory to the creditor. Failure to do so means not only banishment from tlie course, but social and business ostracism as well. Since the New York racing season opened betting there has been on, credit, and it is reported that some "memory brokers" have suffered considerable losses through defaulting bettors. It is also reported that they look at" the English protective system enviously and would fain devise some method that would similarly operate, to reduce their losses bs- default to a minimum. It seems a difficult thing to do. in view of the great variance between English and American racing customs and laws regarding track betting. The English Jockey Club does not recognize" betting directly, any more than does ttie .Tockov Club of New York, but it does recognize Tattersalls and all its, rulings aud penalties. The New York decisions concerning letting make bets a private affair between individuals, and the formation of something akin to Tattersalls In public recognition, authority and effective backing by the Jockey Club is" out of the question in New York. It has been suggested that a blacklist containing tilt- names of all defaulting bettors be prepared anil furnished to all of the layers, with the understanding that such persons are to be barred from betting in the future. Tills lias met with favor in some quarters, but the big layers oppose It. One Is reported to have said: "While the plan looks very well on paper, it would not work out in practice. No layer is going t6 report ii man while there is a ghost of a chance of his paying up. for all. the man lias to do is to ; pretend to take offense and make it an excuse for not -paying at allj and there is no way the1 debt can 1m collected. In commercial circles such associations Ivive proved of value because the man owing . the debt could be forced to pay by legal proceedings, but in this instance there is nothing but his sense of honor to. induce hint to square his ac-J That is expressive of the whole situation and it seems probable that the layers will, be content to I go along as they are. Unpaid, "markers" were no 1 novel tv in the days of open letting, and it is quite . probable failures to pay are now no more numerous 1 than tliev wore then. The present system of track ; betting is still a new thing witli possibilities yet to be learned. As the days go by the solid I lavers will1 acquire their lists of dependable patrons i arid a deliiiite knowledge of those to whom it will 1m- unprofitable to extend credit. Then the business will adjust itself without friction.
