Track racing was a huge focus of gambling in early to mid 20th century. Legal gambling always seems to attract shady money. We have straight up provincially operated casinos all over the place here, and they’ve still been implicated in money laundering plots. Apparently you can buy huge amounts of chips for cash, redeem them at the end of the night, and then bank that money as legitimate casino winnings.
Anyhow I’m sure as the major source of legal gambling in the mid 20th century, organized crime would have been all over the race tracks.
If he had two plain bay geldings the lame or crazy one went for meat and the sound sane one got the papers.
An Amish friend sold his plain bay standardbred gelding at a local sale. When he came back from getting the hip number, he couldn’t remember which plain bay standardbred gelding was his. He picked one. The wrong one. Someone else sold his horse. The owner of the horse he sold ended up getting the money for it. Nobody 'fessed up to selling his horse, so I don’t think he came home with anything.