You are viewing the content for Monday 2 August 2010

Brought to book

THE racing festival season is upon us again.

The media do a wonderful job reporting these events, but what a pity the commentators get it so wrong in referring to the bookmaking trade as a betting market.

However, the betting trade is a book, where the bookmakers set and control the odds to their own advantage.

Like many other self-regulating bodies, the business is run for the benefit of the bookmakers rather than the punters.

The system of setting odds needs properly to be regulated.

Gerry Molloy
Morehampton Square
Dublin 4