Newly elected Victorian
Bookmakers Association committee
member Lyndon Hsu came across
this fascinating article that
appeared in the now defunct
Sporting Life in February 1949.

It tells the story of the then recently
retired bookmaker Eric Welch as told
to journalist A.W Dexter and it
touches on many issues still relevant
to bookmakers and punters today.

“Apart from some very interesting
anecdotes about his experiences as a
bookmaker throughout the first half of
the 20th century, the article concludes
with Mr Welch discussing the high
cost of operating as a bookmaker —
government fees, ticket taxes, an
additional 1% turnover tax, and staff
costs,” said Hsu — “and he also
complains about the introduction of
betting boards!”

“The article shows how certain
bookmaking issues have not changed
over the past 50 to 100 years,” he
continued, “and that reforms sought
by the VBA committee and granted by
the government (such as turnover tax

reduction, the creation of a
bookmakers development fund, the
introduction of partnerships and
Internet betting) represent the
greatest potential changes for a very
old profession.”

It is, Hsu says, up to bookmakers
themselves to make the most of these
changes — “we have to unite to
utilise these reforms to our best
advantage,” he said, “and this will
only come through strong leadership
and cooperation.”