After Secretariat’s famous 1973 Belmont Stakes win by 30 lengths to secure an
American Triple Crown in such extraordinary and record-breaking style, the
famed US steward, Francis Dunne was asked by a reporter, what seemed like, a
very straightforward question. For in 1973, Dunne remained one of only a
handful of racing experts old enough to have witnessed two of America’s
greatest racing legends, as well as every other racehorse in between. “Which were the greater? Man o’ War or Secretariat?” To the reporters’ surprise, Francis Dunne replied
emphatically and without a moment’s hesitation to a parochial US racing press, “Neither. I saw Phar Lap.” That reply said it all, for Dunne had never
been alone in his assessment of the Australasian's “Red Terror”. Those who saw Phar Lap race, never forgot the experience. Magic, beauty
and sheer thrill of seeing this huge thoroughbred stretching out effortless
down the straight, almost floating away from the field, stayed with them
always.
In the 1930 Melbourne Cup, Phar Lap’s started 8/11 as the shortest priced favourite in the race’s long history. His easy winning of the Cup saw bookies and Starting Price (SP) illegal off course operators around Australia lose an estimated $100 million in modern valuation due in large part to a devastating Caulfield-Melbourne Cup double. The original estimated loss started with a combined £200,000 being taken out of the Sydney and Melbourne rings. This grew with a further £200,000 out the remaining capital city rings, another £100,000 out of the regional rings. Then it was estimated as much as £500,000 may have been inflicted on the SP or illegal bookies. Depending on how you measure it, the spending power of £1,000,000 in 1930 would certainly afford you £100 million of real estate today, especially during a Depression. Taken on the pricing of general consumer goods, it could even be more. In reality, no one could accurately state for sure what exactly the real toll this double took on the nation’s bookies and SP operators. All there remains are estimates and even the most conservative guesses are crippling losses.
Ever
since that fateful day, two men have been repeatedly credited, or blamed, with
putting this devastating double together. Australia’s most notorious punter of
the day, Eric Connolly working in conjunction with Phar Lap’s unpopular American part owner, David Davis. Almost every
book, film or article dealing with this double either directly or indirectly
implicates Connolly as the mastermind behind the scheme. It has been this way
for 90 years. Ever since Phar Lap cantered past the Flemington post that
blustery Tuesday afternoon, and knowing bookies were to be slaughtered as a
result, this “fact” of Connolly and Davis working in cahoots has never really
been challenged. “Phar Lap, Amounis and the $100 million Swindle” examines how this established story is
not so clear cut. There were many more moving parts making up this amazing Cups
double and involves many more players than just Eric Connolly and David J. Davis.
“Phar Lap, Amounis and the $100 million Swindle” re-examines
the story of trainer Harry Telford and Phar Lap while looking closely at
this sting on the bookies. It reveals, and examines, for the first time, close
lifetime relationships that were central to how this double succeeded.
Relationships the central characters enjoyed long before Phar Lap and this double was conceived. Special attention is given to
what really happened in the 1930 Caulfield Cup and how Amounis won at
top weight while setting an Australian earnings record in the process. Also, the
amazing story of the 1929 spring racing season and Melbourne Cup of that year. It is here many of the real secrets of this
scheme lie.
“Phar Lap, Amounis and the $100 million Swindle” delves closely into the story of Phar Lap. Special attention is given to Phar Lap’s breeding by Alec Roberts and the role of long forgotten international bloodstock agent Andrew Robertson and Wagga Wagga pastoralist Paddy Wade. Explained is the pivotal importance of “Underbank”, a magnificent stud owned by ex-bookmaker Sol Green and used by many in the racing community to agist, rest and revive their horses over the winter and summer breaks. Close attention is paid to the Amounis camp. Owner Billy Pearson, his veteran trainer Frank McGrath and the mother and son big betting duo, the Vandenbergs, “Phar Lap, Amounis and the $100 million Swindle” takes the reader back into the murky world of Australasian racing of the 1920’s and 30’s.
“Phar Lap, Amounis and the $100 million Swindle” will help racing lovers and historian better understand why the horses that placed in the 1930 Caulfield Cup, and those men behind them, are so suspicious, and central, to this story. One of which was my grandfather, Lou Robertson, a close lifelong friend and gambler of both Eric Connolly and Harry Telford.
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