A COMPLETE SWINDLE.

Inangahua Times, Issue 19, 2 October 1878, Page 2

A COMPLETE SWINDLE.

Mr R. A. Prootor writes to tho E.iho ! " Mnking a book " on a rnco moans making a flories of bet* nbout tho, van us homos engngoil in thn moo in »u«!i a way Mint money shall bo won, whiohevor horso wins. Tho principle is simplo onouji. All tlrit is csuontial to suooess j 'h that oieh wngor should bo n partial R ipindlo, tho ontiro sorios forming a com* pleto flwindle. I'ho thing can bo done either by taking or by laying tho odds, or by a combination of both. Ihif. the " br>ol»- makers " properly so called follow tho Riifost course in more commonly layinu! tho odds. For tho ineicperionood aro aUvnvß on 'ho lookout for a ohanoo of winning hundro-ln hv risking tons, or lens 5 and if tho just odd* against a horso nro ton to one, a greenhorn will soldom refuse to aeeepfc nino to ono pressed on him b' v n elovw book-mnkor. To under* stand the nnturo of sunh, a trnnsnotion we npod only oonsidor thnt whon tho odds ngninst a horio nro ten to ono on tho ehnneo of ono who bnoks tho horso for, Bny. £100, nhnuld bo rqual in vnluo to ono tirkot in a lotlorv whora (horo nro ton blanks nnd ono prta" worth £1100. Tho eleven tickets in mob a lottory won! ' on(<]\ bo f.olJ for £100, nnd odds would bo 10 to 1 ngninst anyono who hnd bought only on« liokot; drawing tho pm>\ T> odor only 0 to 1 is equivalent to giving only £000 for tho r<?nviinin,r ton tickets in such n lottory, insioml of thoir true valuo £1000. IP Hw fair o''ds wore Inid, tho totnl stnlces, nr £1100, boing placed in (ho hands of a stakeholder, nnd. presently tho layer of tho odds picked tho stnko* holdor's poqki't of i'lOO, ho would nofc more directly havo swindled his opponont thnn ho doo»l by porsuivrling him to nccopt odds of 9 to 1 w'mii tho jusfc od.ls nro 10 lo 1, And similarly of nil such ensos, A " finfo book " wns nevor m ido on a moo in whioh oithor all, or neirly all, tho wafers entered woro nofc swindlos of this sort. Tho groonhorn does not rooogniso the swindle. In tho oaso abivo inviginod bo would ronson (siwo Uio mark !) " I loso £100 in any onso if thn horso does not win; nnd if ho <loo<i win I got £900, which will bo a go ul haul of money." O'lsos hnvo boon known in whioh a vory inexperienced bettor bus booked a number of wnftors of this lciml nbout scvorul horsos in n rnco, nnd hna boon nmnznl to lonrn from ft moro exporionood friend thnt ho has mndo so clover a book as lo bo sure to loso, whnlovor tho result of the rnec. But tho moro gonernl thing is tliat •Iho greenhorns Hevernlly back tho horses they fnney, somo winning nnd somo losing { whilo tho book-makors mnko themholvoß sufo by proporlyndjustod bels ngainst nil Iho horses engaged.