Race Day
The syndicate entered Fine Cotton in a race at Eagle Farm on 18 August 1984. The event chosen was a novice handicap for horses that had won fewer than a set number of races.
A horse of Bold Personality's ability was not eligible to race in a restricted novice handicap because he was considered to be an open class horse. Even allowing for the restricted class, Fine Cotton was in such poor form that he was considered to have an outside chance of winning and opened in the betting at odds of 33-1.
As betting continued, money began to be invested on Fine Cotton both at Eagle Farm and at other tracks and TABs throughout the country. Such was the avalanche of money that Fine Cotton/Bold Personality eventually started at 7/2 ($4.50).
It is believed the conspirators would have netted more than A$1.5 million if the ring-in proved successful. This scale of betting plunge was highly unusual, so racing stewards were already suspicious before the race. Bookmakers in Sydney noticed the unusual change in the odds and voiced their concerns. The word ring-in was mentioned, but nothing was raised with the stewards. By the time the horses reached the barrier, the whisper had become something more.
Read more about this topic: Fine Cotton
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