Word: bets
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Dates: during 1940-1949
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...away by newly rich industrialists plunging at punto y banco, a South American version of baccarat. But most of the money came from the pockets of vacationing descamisados, who preferred roulette. The casino's main hall looked like Macy's basement as players pushed and shoved to bet at the 71 roulette tables. Most of them ignored the more conservative red-and-black, put one-peso chips (20?) on one of the 37 numbers and waited for the long shot to come home...
...sound investment. Last week, the biggest crowd of the year (52,000) bet the most money of the year ($2,847,663) on the first big race of Doc Strub's rich Santa Anita winter season (TIME, Jan. 31). The track had been a quagmire much of the meeting, but sun and 1,000 tons of beach sand had finally dried it out. Most of the dozen four-year-olds were in patently poor condition. Ace Admiral quickly took the lead, was never in danger of being headed, and won by half a length in 2:02⅓. Said...
...enough elbow room in grandstands. So Doc ordered up the largest parking lot in the U.S. (215 acres of it) and an ultra-roomy grandstand. His attendants, ushers and gatemen were drilled in courtesy. Strub even handed out kindly advice to the uninitiated bettor, posted such warnings as: "Bet only what you can afford to lose, not what you hope...
Last week Doc had more than the end of the boom to worry him. California's Governor Earl Warren said the state was not getting a fair share of racing's "fabulous" profits (the state now gets from 4 to 6? of every dollar bet at California horse tracks and would like to get more; Santa Anita's cut of the betting runs from 7% to 9%). But if Doc was alarmed he showed no sign of it. His greatest disappointment seemed to be that injured Citation, the wonder horse, would not run at Santa Anita this...
...though the value of his original stake had tripled, tall Laurance Rockefeller (whose Princeton '32 classmates voted him most likely to succeed and third "most pious") was not sure how long he would keep all of his McDonnell stock. The paradoxical reason: the once risky McDonnell bet now looked too safe & sound. As head of Rockefeller Brothers, Inc., a unique research and investment house, Laurance and his brothers are only interested in enterprises that offer genuine risk. When the companies are well established, the brothers think most of their money should be taken out for other speculative ventures...