There was grim silence.
"Tick--tick----,"
"Here she is!" yelled Campbell.
"A-N-N-I-E LAURETTA second--40--20--10" (meaning that the odds were 40
to 1, first, 20 to 1, second, and 10 to 1, third, and that those who
had played "across the board" had won second and third money at great
odds).
I boarded a Broadway car, rode down to the Stewart building and rented
one of the finest suites of offices in its sacred purlieus. I ordered a
leading furniture dealer to furnish it sumptuously. At night I walked
over to the _Morning Telegraph_ office, laid $250 on the counter,
ordered inserted a flaring full-page ad. announcing that Maxim & Gay
had given Annie Lauretta at 40, 20 and 10, second, and previously
Silver Coin at 10 to 1, won, and were ready for more business.
A telegram was sent to Frank Mead, instructing him to spend money in
every direction with a view to getting the very best information that
could be obtained from handicappers, clockers, trainers and every
other source he could reach. Mead continued to wire daily the name of
one horse, which we promptly labeled and thereafter advertised daily
as "The One Best Bet." Soon "One Best Bet" became a term to conjure
with.
The success of this enterprise was phenomenal. In the course of two
years it earned in excess of $1,500,000. There were some weeks when
the business netted over $20,000 profits. At the height of its career,
in the summer of 1902, at the Saratoga race meeting, when the
pool-rooms in New York were open, our net profits for the meeting of a
little less than three weeks were in excess of $50,000.
We established an office in Saratoga and our average daily sales on
race days were 300 envelopes at $5 each. In New York the average was
just as large, and, in addition, we had a large clientele in distant
cities to whom we sent the information by telegraph. The wire
business, in fact, increased to such an extent that it became
necessary to call upon the Western Union and Postal Telegraph
companies to furnish our office in the Stewart building with direct
loops.
I spent the money as fast as I made it. I believed in our own
information and made the fatal error of plunging on it. My error, as I
afterwards concluded, was in not risking the same amount on every
selection. Had I done this, I would not have suffered serious losses.
The trouble was that every time a horse on which I wagered won, I was
encouraged to bet several times as much on the next one, and by
doubling and trebling my bets, I played an unequal game.
The expense of gathering this information within a few weeks increased
to upwards of $1,000 a week, and it was not only our boast, but an
actuality, that the Bureau did really give more than value received.
Public-domain text, read in full here on John Shaqi.
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