Word: mutuels
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...compact action, nothing quite compares with quarter-horse racing. A horse that covers 350 yds. in 18 sec. is likely to win, while a horse that finishes only one second later can be dead last. And big money rides on every split second. Pari-mutuel betting is now permitted in 13 states, and last year's total handle was $78,328,686. In that same period, purse money increased from $1,752,256 to $6,984,558. Dollar for distance, it is the richest racing in the world...
Over the past ten years, the number of tracks has grown to 32 in seven states,* attendance has climbed 40% to 10 million a year, and the pari-mutuel handle is expected to top $500 million in 1965. At least half of that will be bet in Florida, where 16 tracks (four in Miami alone) outdraw the horses by a margin of 2 to 1. Florida dogmen classify their sport as "nighttime entertainment." The big tracks run eleven 5/16-mile to 9/16-mile races an evening (purses: up to $80,000), provide extras like free parking, bar service, "lead-outs" in white...
...case in the New York Court of Appeals. Gambling debts are legally collectible in Puerto Rico, noted the court's 5-to-2 majority, and New York is bound to honor a "foreign right" unless it violates "some prevalent conception of good morals." New York does permit pari-mutuel betting, and "public sentiment in New York is only against unlicensed gambling." Given this quasi approval, ruled the majority, "injustice would result" if New Yorkers could renege on losses in any state where gambling "contracts" are binding...
...Dahlman, 21, dropped out of New York City's Wagner College this fall and began to devote full time to the pari-mutuel teaching machines on the oval campus of Yonkers Raceway. His discriminating bets on the trotters soon put him $15,000 ahead, surely enough to make him an honor student among dropouts. Then, fortnight ago, he broke the record at Yonkers U., picking twin-double winners two nights in succession and walking off with $176,482.20 in prize money (half the lifetime earnings of the average college graduate...
Unfinished Business. In the grandstand, mutuel clerks watched incredulously while bettors tore up losing tickets on Gun Bow and hugged each other with delight. Allaire du Pont dashed around the winner's circle, kissing everybody in reach. And what was Kelso doing? Trotting calmly off to the barn to catch up on his sleep. After all, there was still some unfinished business to attend to-a small matter of $38,737. With $1,711,132 already in the bank (including his day's pay of $70,005), that was all that stood between the sturdy old champion...