MODERN BETTING ILLUSTRATED, ETC. 223 



other case (of Pari-mutuel betting) there would 

 not be such pressing necessity for him to have 

 the money." 



A very excellent reason was recently given 

 for the adoption of a ready money system of 

 betting by one of the "big bookmakers" of the 

 day ; it was pithily expressed to a gentleman who 

 was complaining of the small odds now laid to 

 bettors. " Look you," said the layer of the odds, 

 " I have thirty-three per cent, of bad debts to 

 contend with every season, and so have some of 

 my friends. When we have ready money betting 

 there will be no bad debts, and the odds will then 

 extend by twenty or thirty per cent." An ex- 

 tension of the odds, say all backers of horses, is 

 certainly much needed ; of late years prices have 

 been growing small by degrees and beautifully 

 less. 



