98 BETTiyO RULES. 



wocd, about thirty years ago, who became not only an 

 attraction, but a necessity at every large race meeting of 

 his day and time, as no meeting was complete without 

 Doc. Underwood, as he was familiarly called by all the 

 patrons of the turf. Many *' silver tongued orators " 

 have appeared in Underwood's role as pool-sellers, but 

 a gentleman named Herdic, hailing from Williamsport, 

 Pennsylvania, I think can transfer more money 

 from speculators pockets into the pool box in a 

 given time, than any man that has appeared since 

 Underwood's day. Pool-sellers are merely the stake- 

 holders of speculators who desire to deposit the amount 

 of their bet where they know they can get it when the 

 event is decided upon which the wager is laid, as pool- 

 sellers are compelled by all large racing associations to 

 give bonds, or secure their patrons against any default of 

 payment as soon as the bet is decided. To illustrate: 

 Suppose ten horses start in a race, or are expected to 

 start, the pool-seller commences by selling at auction the 

 first choice which may bring §ioo; he then sells in the 

 same way the second choice, which may bring $50; now 

 there is $150 in the pool, and he will probably sell the 

 *' field," or all the other horses in a bunch, for §20, and 

 the total pool amounts to $170. If you have bought the 

 favorite, or any other part of the pool, you step up to 

 the cashier and pay him the amount you bid and receive 

 a card, or pool ticket as it is called, which states the 

 name of the horse you have selected, the amount you 

 have paid, and the total amount of the pool. If the 

 horse you have selected wins the race, you, upon presen- 

 tation of your ticket, are paid i^he total amount of the 

 pool, less three per cent, which pAys the pool-seller for 

 his time and trouble. ^Money deposited with the pool- 

 seller at any large meeting is just as safe as though it was 

 in a bank, as far as he is concerned, as pool-buyers would 

 be a little too desperate a class of creditors for any man 

 to fool with. In some cases the horses are all sold sepa- 

 rately, which is called " selling them down." In such a 

 case, of course, there is no " field." 



