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The Bookie's Ledger: 120 secrets from the betting ring, so you know exactly how the bookies take your money, and keep more of it.
Educational only. No tips, no selections, no promise of any outcome.
For 42 years I stood on a box at Randwick, Rosehill and Flemington and watched good blokes do all of that. I took their money. This book shows you exactly how.
Every price carries a margin. A market that adds up to 115% means, over the long run, the bookie keeps about 13 cents of every dollar bet. Here's what that looks like if you put $100 a week through the bookies — that's $5,200 a year:
| How it's bet | Average cost a year |
|---|---|
| Win bets, 110% markets | ≈ $473 |
| Win bets, 115% markets | ≈ $678 |
| Win bets, 120% markets | ≈ $867 |
| The tote, ~15% takeout | ≈ $780 |
| 4-leg multis, 115% a leg | ≈ $2,227 |
Long-run averages, worked out as turnover × (1 − 1 ÷ book) and (1 ÷ book)legs for multis. Any one week can go either way; these are what the margin costs on average over time. Takeout varies by state and bet type.
The book won't make the margin disappear. Nothing can. It shows you where it hides, so you can bet less, skip the worst of it, and keep more of yours.
Every entry has two parts: What bookies know (how it really works) and What to do (how to lose less and stay in control).
I was eight the first time Dad let me carry his bag at Randwick. Frank Mahoney's bag. Heavy leather, stuffed with punters' money. He looked down at me and said, "The book doesn't care who wins, son." Took me twenty years to understand it.
I took over his stand in my twenties and worked it for 42 years: Randwick, Rosehill, Flemington, and every country cup with a crowd and a bar. My clerk Normie wrote every bet in the ledger, and over the long run that ledger always came out our way.
Now my grandson bets on his phone at two in the morning, and nobody's ever told him what he's up against. So I'm telling him, and you. This isn't tips and it isn't a system. No book can turn a punter into someone who comes out ahead. But I can show you exactly how we took your money, so you keep more of yours.
A PDF e-book, 172 pages, with large, easy-to-read print. You download it straight after paying.
Yes. It opens on any phone, tablet or computer. You can also print the tools and printables.
No. There are no tips, no selections and no "best bets" in the book, for the Cup or any other race. It's an educational book about how betting markets work.
No, and anyone who promises that is selling you something. Over time the margin works against every regular punter. This book shows you how the game really works, so you lose less, bet less, and stay in control.
No. It's a plain-English guide to odds, margins, each-way bets, multis, promos and the tote, plus tools for setting a budget and keeping track. It's not betting advice and makes no promise of any outcome.
Email colmahoneybookie@gmail.com within 30 days of buying and you'll get a full refund.
Adults 18 and over who bet on the horses and want to understand how the bookies make their money. If betting has stopped being fun, please skip the book and call Gambling Help on 1800 858 858.
42 years of the bookie's side of the counter, for less than a couple of Saturday multis.
This book is for adults only, and it's an educational guide: no tips, no betting system.