Even Money - By Dick Francis & Felix Francis Page 0,1

not so much for the man in front of me, more for Luca Mandini, my assistant, to enter the bet on his computer.

Luca was my magician, my Internet whiz kid with a razor-sharp mathematical brain who stood right behind me. His fingers tapped his keyboard, and the betting slip duly appeared from the printer.

Without Luca, I was sure I would have given up by now, forced out by the relentless bullyboy tactics of the big bookmaking firms who did all they could to squeeze the profit out of the small independents. It was the same in the grocery trade, where the big supermarkets used their muscle to force the small shops to close. They didn’t necessarily do it on purpose; they just did it in their never-ending drive for bottom-line figures to satisfy the expectations of some faceless group of shareholders. I was the sole shareholder in my business, and I felt the pain.

I lived in daily fear that Luca would be enticed away from me by some other outfit, maybe one of those big firms who, it seemed, would stop at nothing to put the likes of me out of business in their greedy quest to capture a larger share of the betting market.

I took the slip from the printer and handed it to the man standing patiently in front of me.

“Are you Teddy Talbot?” he asked.

“Who wants to know?” I asked him back while looking beyond for my next customer.

“I know your grandfather,” said the man, ignoring my question.

My grandfather’s name had indeed been Teddy Talbot, and it was his name that was still prominently displayed above our prices board next to me. The slogan actually read TRUST TEDDY TALBOT, as if the extra word might somehow encourage punters to bet with us rather than the next man.

“My grandfather’s dead,” I said, still looking beyond him and hoping that he would move away. He was disrupting my business.

“Oh,” he said. “When did he die?”

I looked down at him from my lofty position on a foot-high metal platform. He was gray haired, in his late fifties or early sixties, and wearing a cream linen suit over a light blue shirt that was open at the neck. I envied the coolness of his attire. “Look,” I said, “I’m busy. If you want to talk, come back later—after the last. Now, please move aside.”

“Oh,” he said again. “Sorry.”

He moved away, but only a short distance, from where he stood and watched me. I found it quite disconcerting.

“Weighed in,” announced someone over the public-address system.

A lady in a straw hat came up and held out a slip to me. I took it from her. TRUST TEDDY TALBOT was printed across the top, as it was on all our betting slips. It was a winning ticket from the previous race, the first of rather too many. Nowadays, the potential win amount had to be printed on the slip, so I scanned the details and paid her out for her win, tearing the slip in half and placing the bits into a hopper to my left. The transaction was wordless—no communication was necessary.

A line of winning-ticket holders was forming in front of me.

Betsy, Luca’s girlfriend, came and stood on my left. She paid out the winners while I took some of their winnings back as new bets on the next race. Luca scanned his screen and adjusted the prices on our board according to the bets I took and also the bets and lays he made on the Internet gambling exchanges via his computer behind me. It was like a balancing act, comparing potential gains against potential losses, always trying to keep both possibilities within acceptable ranges.

It was my surname on our board, and I was the handler of the punters’ cash, but, in truth, it was Luca with his computer who was the real bookmaker, betting online and setting our board prices to always try to keep our predicted return greater than one hundred percent, as indicated on his screen. Anything over a hundred percent was called the “overround” and represented profit, less than a hundred indicated loss. Our aim was to keep the overround at about nine percent, but all the mathematics relied on us taking bets in the correct proportions for our odds, something we tried to ensure by continually adjusting our prices. However, the punters didn’t always cooperate with our plans, so Luca tried his best to compensate by betting and laying on the Internet.

The computer was both our best