September 9, 2021 at 21:39 #1559728IanDaviesParticipant
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I feel well and truly told off.
And no doubt deservedly so.
Question: What’s worse then being accused of being a “Champagne Socialist?”
Answer: Being accused of being a “Shed Socialist.”
https://m.facebook.com/pages/category/Personal-Blog/The-Point-to-Point-NH-Flat-racing-punter-105339604816039/September 10, 2021 at 08:55 #1559827Richard88Participant
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A bookmaker friend of mine says there comes a point where even the most recreational of punters won’t have a bet because the odds of an outcome are so big they think it must be impossible for it to happen.
He bets a lot at the Points and says a Bank Holiday crowd won’t back a no hoper if he puts it up at 100/1, but if he goes 20/1 he will take a few quid on it.
A sort of law of diminishing returns as you push the odds out.
Interesting, thanks. The polar opposite to my thinking that when the odds are past a certain point, the horse can’t possibly be that bad that it should be such a long price.
As an aside I think Laura De Minishing-Returns was representing one of the Oxford colleges on University Challenge the other week.September 10, 2021 at 09:46 #1559833The Tatling CheekilyParticipant
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I can well believe it – plenty of punters back ‘un-named favourite’ in the shops for example.September 10, 2021 at 19:21 #1559892homersimpsonParticipant
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Probably something trained and ridden by Dr Philip Pritchard.September 23, 2021 at 00:39 #1561235
I’ve read an uncorroborated report concerning a beast named Wishing Ring who, on 17 June 1912, duly obliged at Latonia racecourse (now Turfway Park) in Kentucky.
The article states that Wishing Ring paid $1,885.50 to a $2 stake, giving an impressive return of 941/1.September 23, 2021 at 21:36 #1561309
The early mechanisms of Tote/pari-mutuel systems across the planet clearly threw up the occasional atypical payment when a single racecourse punter scooped the win pool on a particular race, which is perhaps what occurred with Wishing Ring.
It certainly happened at Haydock Park sometime in November 1929 when, in the first year of the tote operation on British racecourses, only one punter bought a ticket for a winner named Coole thereby collecting the money at odds of 3410/1.
This remains the highest ever win dividend in the Tote’s history.September 24, 2021 at 19:35 #1561386Salut A ToiParticipant
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Top investigative work Seasider – what was the take out in 1929 , do you know?September 24, 2021 at 20:38 #1561397
Thanks, Salut A Toi.
The cost of a Tote win ticket in 1929 was 2 shillings, so the fortunate punter would have collected exactly £341 at the payout window. This is roughly £22,000 in today’s money, depending upon which inflation calculator is used.
In 1929 £440 was the average house price in London, so there’s a nice deposit if you were thinking of settling down. For a more mobile individual, £341 would have bought you nearly 3½ Morris Minors.September 25, 2021 at 07:36 #1561427homersimpsonParticipant
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Therefore using this calculator 2 shillings was over £6 in todays money. Rather expensive tote tickets if you are on a loser.September 25, 2021 at 11:29 #1561473
I concur that the equivalent of £6 looks expensive for a tote win ticket back in 1929.
All I have in support of that is an internet snippet from ‘Statistics of Totalisator Betting’ (APL Gordon, 1931) that says:
“The Totalisator dividend includes the stake money, and represents the return on a wager of two shillings”.
The book seems to be out of print.
I guess that just because the stated dividend assumes a stake of two shillings it doesn’t necessarily mean that two shillings was the minimum bet.
I’ll seek out further details on this. If anyone can help, that would be good.September 25, 2021 at 15:56 #1561536
In The Story Of Your Life – A History Of The Sporting Life Newspaper 1859-1998 (James Lambie, 2010) the author strongly implies, rather than comments unequivocally, that the minimum stake on the Tote was 2 shillings back in 1929.
‘It was evident the machine was a big hit with the public largely due to the fact that it accepted place bets and 2s stakes.’
‘In its first full year the Tote derived 25% of its custom from the 2s punter, while only 1.5% of its sales were to those who placed bets of £10* or more.’
There is also a comment concerning a Sporting Life reporter making 2s bets at a Carlisle meeting the same year.
Lambie makes no reference to any lesser amounts.
*I’m not surprised. £10 in 1929 equates to £650 today. I’m using the Bank of England inflation calculator throughout.September 26, 2021 at 08:22 #1561573IanDaviesParticipant
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“Laura De Minishing-Returns was representing one of the Oxford colleges on University Challenge the other week.”
Quality – much mirth here in Hampshire.
https://m.facebook.com/pages/category/Personal-Blog/The-Point-to-Point-NH-Flat-racing-punter-105339604816039/September 26, 2021 at 08:45 #1561579sporting samParticipant
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“In 1929 £440 was the average house price in London, so there’s a nice deposit if you were thinking of settling down. For a more mobile individual, £341 would have bought you nearly 3½ Morris Minors.”
Only if you were a time Traveller as they didn’t come out until 1948.
And travellers were even later of course….September 26, 2021 at 23:04 #1561626
‘The Morris Minor is a small 4-seater car with an 850 cc engine manufactured by Morris Motors Limited from 1928 to 1934. The name was resurrected for another newer car for the same market in 1948.’September 27, 2021 at 17:19 #1561670sporting samParticipant
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That is me told.
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