DAVIS THE LEVIATHAN.
Among the racing adventurers who flourished sixty years since, the names of Davis, Crockford, Gully, and Ridsdale were prominent in turf affairs; these men and others like them were much trusted and betted to win or lose large amounts; "their mere word," as a certain noble baronet who did business with them said, "is better than other men's bonds." They paid sums of five, ten, or twenty thousand pounds when they lost them without the slightest hesitation, not infrequently indeed before they were due according to betting etiquette. Sixty years ago, racing adventurers began to come to the front and some of them soon acquired fortunes; several of the number who did so had not the wit, however, to keep the money they earned, and so fell back to their original condition. Such was the fate of Ridsdale, at one time racing partner with John Gully and a man of wealth. Crockford, as shall presently be narrated, began life as a fishmonger, and in the course of his career became a millionaire. In his young days Gully was a butcher and afterwards a professional pugilist; Davis again was a carpenter by trade, and flourished every day after becoming a betting man, the excitement of which career suited his temperament. Others of the bookmaking and betting fraternity had beginnings equally humble: some of them had been helpers in stables; one prominent man in turf affairs had driven a hackney coach; another had been footman at one time in a gentleman's family, but by the aid of turf chicanery became wealthy, and able himself in time to keep a couple of footmen. It is not possible within the limits of the present volume, to include more than three or four brief biographical sketches of the more prominent of the racing adventurers who have earned notoriety on the turf.
Davis, "the Leviathan," as he was called in racing circles, possessing a genius for the manipulation of figures, ultimately became one of the most successful bookmakers of his time, betting to thousands in the ring and to the silver or gold offered at his lists. As has been more than once related, the future "Leviathan's" first bet involved no greater risk than half-a-crown; but that sum, small as it was, turned out a prolific parent, he who risked it being found ten years later in the foremost ranks of the betting ring. Davis speedily discovered in his own case that "backing" horses, unless in exceptional instances, could never be profitable, no matter how generally fortunate he might be in selecting winners; he therefore speedily forsook that mode of betting and began "making a book," laying at first the odds to small money only to his fellow workmen. At the time indicated he was in the service of Cubitt & Co., the great builders, as a journeyman carpenter.
The "Leviathan's" plans received a fillip from the fact of his being engaged in the erection of the subscription rooms at Newmarket. Cubitt & Co., his employers, being contractors for the job, he had therefore congenial surroundings, which confirmed him in his resolve to make money by means of horse-racing. The chief meetings held at the turf metropolis took place while the rooms were being built, and as Davis had taken lodgings in the house of a stable helper, he was thus enabled to obtain more reliable information of the doings on Newmarket Heath than he might otherwise have been in a position to get. This enabled him to lay the odds and back horses with a greater certainty of winning both ways, a plan he adopted with considerable success. As he said to a friend, "when I got to know, which I often did, that a horse was not doing the right sort of work for a particular race, I tried all the more to lay the odds against it; on the other hand, I backed any horse that I was told was taking proper exercise. It is a fine thing for a small betting man as I was then to be able to handle the stick at both ends; by doing that I made a bit, and so was all ready when bigger chances came to hand to make the most of them."
When the job he was engaged on at Newmarket was finished, Davis came back to London with what he called a tidy pocketful of money, as much as fifty-seven pounds, the fruit of his economy and industry. Having thrown up his work at Cubitt's, he with the sum named began business as a bookmaker, and succeeded from the beginning. His first great hit was made on the "Two Thousand Guineas." Having obtained reliable information about the chance of Sir Tatton Sykes for the race in question, he backed that horse to win, taking care at the same time to lay against as many of the other horses engaged in the contest as his customers would back. The money he made on this occasion amounted to a considerable sum, the possession of which enabled him to extend his business and also to bet in bigger sums. Hitherto he had very rarely laid the odds to half-a-sovereign, but after Sir Tatton's victory he ventured to bet sovereigns, and by doing so increased his store not rapidly but steadily.
A friend of Davis' was wont to relate that it was in consequence of a dream he backed Sir Tatton. Falling asleep one Sunday afternoon, he fancied he was reading a newspaper, and that its tip for the Guineas, in large letters, was "Sir Tatton Sykes first"; that he read quite plain, but the names of the placed horses being blurred he could not make them out. Thinking little of his vision, he went about his work on Monday as usual, but, singularly enough, on Monday night the vision was repeated, with the words added, "this will come right." Davis was staggered by the circumstance, and being in possession of other information resolved to have "a bit extra" on, and so landed a good stake for his then position in the betting arena. Many curious dreams connected with horse-racing have from time to time been told, and the above story, now first related, may be added to the number.
Visiting, day by day, all the well-known sporting public-houses in London, picking up a little information here and making a few bets there, and always paying punctually when he lost, Davis speedily made a connection, and in a short time attracted a large number of customers. Being modest of manner and invariably civil, good fortune attended most of his efforts. Another feature in his favour was that he was liberal in offering odds, generally naming a point more than any of his competitors, so that he soon became "first favourite" among the betting men who were fond of backing their "fancy." Davis, in those days, betted for ready money only, and it was a maxim of his that "if you can lay all the horses, a point of additional odds is of no moment." "The horse which wins," he was wont to say, "brings you nothing, all the others do." In the beginning of his career, slow and sure was his motto; "ten pounds gained on each of five small races makes fifty." Passing on to a later period of his career, when his betting relations had extended to the patricians of the turf, Davis occasionally laid the odds to an almost incredible amount against all the horses entered in a race, and the greater favourite a horse became, the more willing was the "Leviathan" to bet against it; on many occasions the sums he stood to lose were really enormous in their amount.
Davis, like other bookmakers, had his fortunate and his unfortunate races. The Derby, for instance, was one of the latter class of events; he was never fortunate in transactions entered into in connection with that race. Upon the occasion of Voltigeur winning the Blue Ribbon he stood to lose nearly £40,000 on his list accounts, as well as having to meet many liabilities for large sums in the ring and at Tattersall's consequent on the victory of that horse. The non-success of Hotspur in the great Epsom event cost him, he was wont to say, £50,000, while the failure of Barbarian involved the disbursement of about a plum; and in the year which was sacred to the victory of Teddington he dropped a mint of money; one cheque alone written out and paid away on the morning after the race was filled up for three times "five thou" (£15,000). Again, the Derby victory of Daniel O'Rourke necessitated his parting with £30,000, whilst one of Davis' bets on West Australian was paid to Mr. Bowes, the owner of that horse, in the shape of a draft on the London and Westminster Bank for the full amount.
These big sums, however, were not all loss; he had the amounts he won over the other runners to aid him in paying them, and as was to be expected, he came every now and then into the possession of great gains; on one or two occasions he bagged £40,000 over a race; had that not been so, he would have been unable to battle with the wholesale losses he had sometimes to encounter. His business at one time was quite remarkable in its extent; often in the ring he was mobbed by people desirous of betting with him, from whom, on the days of popular races, he received hatfuls of money. No matter what race-meeting he might be attending, if the place where it was held was within a few hours' reach of London, he made it his business to return, to ascertain what was doing at his various lists, and to draw a cheque for the next day's settlement; punctual payment was with him a rule from which he never deviated.
As to the betting lists which were ultimately put down by the strong hand of Parliament, Davis was not, as many have supposed, the originator of them. They were "invented," if such a word may be used, by Messrs. Drummond and Greville, who took care to let it be known they kept a big balance at their bankers'. By the persistent display of "the lists" (which were exhibited by many licensed victuallers in their houses), betting, especially in London, extended among all classes, as at some of the lists as little as sixpence was accepted. For the benefit of those who do not know any better, it may be as well to explain here that a "list" was a written or printed document containing the names of the horses engaged in the particular race to be betted upon, with a price affixed against the chance possessed by each animal. Previous to the institution of the lists, the great body of the people were pretty well contented with a ticket in a Derby or some other sweepstake, of which a great number, at prices ranging from pence to pounds, were drawn in London and the provinces, but more especially in London, where there were then thousands organised, embracing most of the popular handicaps, as well as the classic races—so called.
It was calculated that at one time more than seven hundred lists were open in the great metropolis, most of them being "placed" in the public-houses of the period. Betting on horse-racing by means of lists became in time so popular and extensive as to attract the indignant attention of many people, who conceived it to be a cause of degradation and deep demoralisation. Lotteries of all kinds, big and little, had been effectually suppressed by the strong arm of the law, but list betting took the place of the lottery tickets with a vengeance.
The "Leviathan," although not himself the originator of the list system of betting, was not long in seeing—being a ready money system—that good fortune awaited that plan of turf speculation, and he accordingly commenced business at a public-house in Serle Street, in the Strand, known as the "Durham Arms," at which in the course of time so great a trade was done (in liquor) as to enable the landlady to retire from business within the course of two or three years. Davis was proprietor of two or three lists, as also the originator of three or four for which other persons ultimately became responsible. Publicans were well pleased to allow betting lists to be shown in their houses—it was a source of revenue to them, as few bets were made over which a pint or two of beer was not consumed, so that landlords "made money," as the saying goes, in the days of the lists, a list being an excellent advertisement for every house in which it was hung up. The chief centre of list betting was Long Acre, and in that street was to be found one of the "Leviathan's" lists, and so great was the business done, that not only was his own supervision necessary, but the aid of two or three clerks became essential. Other "list masters" carried on a roaring trade as well as Davis, but he was undoubtedly the leader in that feature of the betting business of his time; "punctual payment with a pleasant courtesy of words," was his motto, and that way of doing his work soon made him king of the list men. No man engaged in betting was ever more punctual in his payments than Davis. On various occasions when he had lost big sums to gentlemen, he did not delay his payments till the orthodox settling day, but would hand over a cheque for the amount he had lost immediately after the race had been decided.
As was to be expected in such a money-making avocation as list betting seemed to be, scores of the merest fortune hunters speedily entered into the business, many of whom were utterly dishonest scoundrels who pocketed all the money they could collect, and then on the decision of some important race on which they had received large deposits, closed their offices and were no more seen in their accustomed haunts.
Davis in time retired from business and lived for some years at Brighton, where he died, leaving a sum of about £150,000 behind him.