William Edmund Davies
Encyclopedia
William Edmund Davies was a bookmaker
, who left a sum of money that enabled Brighton
Corporation to purchase Preston Park
for the public.
, contractors and builders, Gray's Inn Road
, London.
s, was so great that he gave up carpenter's work and became an open-air betting-man in Long Acre, London, and the adjoining streets.
His customers in London were very numerous, and he originated in 1846 the betting-list system, which was continued until 20 August 1853, when such lists were declared illegal by a special act of parliament. The first of his lists he hung up at the Salisbury Arms in Durham Street, Strand; at a house known as Barr's Windsor Castle, 27 Long Acre
, a second list was posted, and at these places he and his clerks stood at huge bankers' ledgers and entered the bets. The certainty that claims on him would be paid on demand made his winning tickets as negotiable among his customers as bank-notes. Davies established himself at the head of the profession by betting with the Earl of Strafford
£12,000 to £1,000 on The Cur for the Cesarewitch in 1848; he paid the money on the day after the race.
From that moment he enjoyed the chief patronage of all heavy backers of horses, and his lists ruled the market. In 1850, when Lord Zetland's Voltigeur was the favourite, Davies had to pay out nearly £40,000 over his list counter to his humbler clients, who had put their sovereigns on the race. In the previous year, on the defeat of Hotspur by the Flying Dutchman, he had lost a similar sum. He also lost heavily over Teddington at Epsom
in 1851, and on the morning after the race sent Mr. C. C. F. Greville a cheque for £15,000. In the autumn of that year, however, Mrs. Taft and Truth in the Cesarewitch and the Cambridgeshire brought him in more than £50,000; but in 1852 the somewhat unlooked-for victory of Daniel O'Rourke in the Derby
resulted in his having to pay upwards of £100,000 Despite his losses he opened the season of 1853 with £130,000 to his credit at the London and Westminster Bank; but £48,000 of this money he lost in that year, when West Australian won the Derby, and £30,000 of it went in one cheque to Mr. John Bowes. He became known as Davies the Leviathan, or more commonly as the Leviathan. His constant habit was to go to Tattersall's after the Derby, however great his losses, and pay on the Monday instead of waiting until the conventional settling Tuesday; and while his lists were in force he returned every night from Newmarket to attend to them, and provide the money for paying next day. Daily travelling and the excitement of daily betting thousands told on the constitution even of the Leviathan, and finding himself no longer equal to the struggle in which he was engaged, he wound up his business on the Friday in the Houghton meeting in 1857, and took his final leave of Newmarket.
Bookmaker
A bookmaker, or bookie, is an organization or a person that takes bets on sporting and other events at agreed upon odds.- Range of events :...
, who left a sum of money that enabled Brighton
Brighton
Brighton is the major part of the city of Brighton and Hove in East Sussex, England on the south coast of Great Britain...
Corporation to purchase Preston Park
Preston Park, Brighton
Preston Park is a park near Preston Village in the city of Brighton and Hove, East Sussex, England. It is located in Preston Park ward to the north of the centre of Brighton, and served by the nearby Preston Park railway station....
for the public.
Early years
Davies, known as "the Leviathan", the son of a carpenter, was born in London in 1819, near the site of the Great Northern Hotel, and his earlier years were spent in the service of Cubitt & Co.Holland, Hannen & Cubitts
Holland, Hannen & Cubitts was a major building firm responsible for many of the great buildings of London.-History:It was formed from the fusion of two well-established building houses that had competed throughout the later decades of the nineteenth century but came together in 1883: this was...
, contractors and builders, Gray's Inn Road
Gray's Inn Road
Gray's Inn Road, formerly Gray's Inn Lane, is a major road in central London, in the London Borough of Camden. It is named after Gray's Inn, one of the main Inns of Court. The road starts in Holborn, near Chancery Lane tube station and the boundaries of the City of London and the London Borough...
, London.
Entry into bookmaking
Having been sent with some other workmen to repair the inside of the subscription-rooms at Newmarket, Suffolk, he overheard a conversation about some approaching races, and perceiving that money could be made by one who was quick at figures he immediately commenced business with his fellow workmen. His success as a petty bookmaker, who laid the odds in half crownHalf crown (British coin)
The half crown was a denomination of British money worth half of a crown, equivalent to two and a half shillings , or one-eighth of a pound. The half crown was first issued in 1549, in the reign of Edward VI...
s, was so great that he gave up carpenter's work and became an open-air betting-man in Long Acre, London, and the adjoining streets.
Bookmaking operations and success
He frequented racecourses, where he joined the throng of ready-money bookmakers outside the ring, generally laying a point or two above the odds obtainable inside. Great advantage being taken of the more liberal odds that he laid, he went within the public betting rooms.His customers in London were very numerous, and he originated in 1846 the betting-list system, which was continued until 20 August 1853, when such lists were declared illegal by a special act of parliament. The first of his lists he hung up at the Salisbury Arms in Durham Street, Strand; at a house known as Barr's Windsor Castle, 27 Long Acre
Long Acre
Long Acre is a street in central London, England. Starting from St. Martin's Lane it runs from west to east just north of Covent Garden piazza, one block north of Floral Street. The street was completed in the early 17th century. It was once known for its coach-makers, and later for its car dealers...
, a second list was posted, and at these places he and his clerks stood at huge bankers' ledgers and entered the bets. The certainty that claims on him would be paid on demand made his winning tickets as negotiable among his customers as bank-notes. Davies established himself at the head of the profession by betting with the Earl of Strafford
Earl of Strafford
Earl of Strafford is a title that has been created three times in English and British history.The first creation was in the Peerage of England in 1640 for Thomas Wentworth, 1st Baron Wentworth, the close advisor of King Charles I...
£12,000 to £1,000 on The Cur for the Cesarewitch in 1848; he paid the money on the day after the race.
From that moment he enjoyed the chief patronage of all heavy backers of horses, and his lists ruled the market. In 1850, when Lord Zetland's Voltigeur was the favourite, Davies had to pay out nearly £40,000 over his list counter to his humbler clients, who had put their sovereigns on the race. In the previous year, on the defeat of Hotspur by the Flying Dutchman, he had lost a similar sum. He also lost heavily over Teddington at Epsom
Epsom
Epsom is a town in the borough of Epsom and Ewell in Surrey, England. Small parts of Epsom are in the Borough of Reigate and Banstead. The town is located south-south-west of Charing Cross, within the Greater London Urban Area. The town lies on the chalk downland of Epsom Downs.-History:Epsom lies...
in 1851, and on the morning after the race sent Mr. C. C. F. Greville a cheque for £15,000. In the autumn of that year, however, Mrs. Taft and Truth in the Cesarewitch and the Cambridgeshire brought him in more than £50,000; but in 1852 the somewhat unlooked-for victory of Daniel O'Rourke in the Derby
Derby
Derby , is a city and unitary authority in the East Midlands region of England. It lies upon the banks of the River Derwent and is located in the south of the ceremonial county of Derbyshire. In the 2001 census, the population of the city was 233,700, whilst that of the Derby Urban Area was 229,407...
resulted in his having to pay upwards of £100,000 Despite his losses he opened the season of 1853 with £130,000 to his credit at the London and Westminster Bank; but £48,000 of this money he lost in that year, when West Australian won the Derby, and £30,000 of it went in one cheque to Mr. John Bowes. He became known as Davies the Leviathan, or more commonly as the Leviathan. His constant habit was to go to Tattersall's after the Derby, however great his losses, and pay on the Monday instead of waiting until the conventional settling Tuesday; and while his lists were in force he returned every night from Newmarket to attend to them, and provide the money for paying next day. Daily travelling and the excitement of daily betting thousands told on the constitution even of the Leviathan, and finding himself no longer equal to the struggle in which he was engaged, he wound up his business on the Friday in the Houghton meeting in 1857, and took his final leave of Newmarket.