Concession Betting Plan: Australian System Being Introduced to Race Courses of England, Daily Racing Form, 1921-07-29


view raw text

CONCESSION BETTING PLAN Australian System Being Introduced to Race Courses of England. In Liugficld. first at Lingfield, July 9. J. Robinson, a well-known bookmaker from Melbourne, Victoria, Australia, attempted to introduce the "concession" system of betting. When it is properly understood it will find favor with small punt--ers who wish to limit their outlay whatever happens as regards those who bet in larger sums. Koughly, the effect is to combine in one bet the advantage of saving ones stake by hacking the horse for a place, and to enable him to meet the backer, the bookmaker naturally lays a shorter price to win, for he undertakes to return the stake if. say. in a field of eight or more horses, tin- fancied animal runs second or third. Thus, if a horse is ou offer at 0 to 1 the concession" bookmaker will lay his client .1 to 1 or thereabouts, but I understand that it is not easy to support a favorite in this way, for it does not often happen that the price is sufficiently elastic to allow the necessary margin. It is said that iu Australia the "concession" men do the bulk of the business with the public as distinct from owners and the professionals. It will be interesting to see how the idea is taken up on English racecourses. Kackers there are keen, and will soon find out whether it works in their favor or against them. London Sportsman.

Persistent Link:
Local Identifier: drf1921072901_1_6
Library of Congress Record: