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Show BETTING ON DACES : LEGIL 1H YORK Wagers Must Be Made in Cash and Stakeholder ; May Keep Record. 2CEW YORK, Feb. 27. The "sport of kings" ia to come back again, and there "is every indication that during the forthcoming season racing in this state will enjoy the same popularity it did prior to ttia pasage of the Aguew-Hart Aguew-Hart law, which practically killed the sport. From a. good source it was learned today to-day that there will bo cask betting this year on the tracks iri the state under the jurisdiction of the Jockey club. Track owners arrived at this decision today after consulting with their attorneys attor-neys and scrutinizing the official reports re-ports of the betting methods now in vogue at New Orleans. The plan to be adopted, it is said, will not conrlict with the present laws regarding the control of racinq in New York state. According to the new method there will be stakeholders, who will handle i money wagers without receiving coin-: coin-: pensa.tion from rither levers or bettors. 1 Section 9S6 of the penaf code prohibits persons from holding stakes or wagers for pay, hire or reward, so that the custodians of betting transactions on New York race courses must be friends of thoso taking part in the betting. Cash Betting Legal The racing associations hare been advised ad-vised by attorneys that under the interpretation inter-pretation of the Agnew-Hart laws cash boning is legal; also that a person not a bookmaker may . record a wager. The sytem to be employed here, therefore, is this: Two friends meet on tie lawn 'at the track. One lays 2 to 1 against a horse and the other waes $10 that the horse will win. A thira party, acting as an unpaid ttakeholder will receive re-ceive 6-0 in cash from the layer and $10 from the better. The full amount will then be put in an envelope, on which wi!! be written names or numbers for the identification of parties in the trausaction. After the race the stakeholder stake-holder will return the sealed envelope to the winner of the bet. Ever since the passage ofthe Agnew-Hart Agnew-Hart law there has been trouble about oral betting. This dates back to 1910, and conditions were due to lack of cash and inability! of racegoers to record bets. Consequently there was much welching ana overplaying by persons who couldn't afford to nlay the races. The new system will limit speculation specula-tion to small bettors, inasmuch as big lungers would have to put up cash. This would necessitate carrying large bonk rolls. Work Under Supervision. It is figured that speculation under supervision, instead of going skelter with no organized control of it, will do much to eliminate old condition?. A point made clear by racing men who discuesed the new plan is that the tracks will take absolutely no revenue from the speculative end ot the game. The Jockey club, it is understood, based its idea on the fact that the courts in this state have declared that oral betting, cash betting and the recording re-cording of wagers by a person not a bookmaker are legal. When the news leaked out today that cash bettinz is to be introduced'again at the New York state tracks controlled j by the Jockey club there was much re- ioicing among the horse fraternity. The j idea, it is believed, will cot only in- crease interest, but also will eventually pnt the sport back on its old basis. |