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Richard's Most Memorable Guests — Peter Hoysted
Jan 3, 2025
Peter Hoysted, a crime writer and columnist for The Australian under the pseudonym 'Jack the Insider', dives into the infamous Fine Cotton affair. He reveals a bizarre tale of a racehorse switch, scamming bookmakers, and a cast of quirky characters, including a gangster and a hapless horse trainer. The discussion highlights the chaotic underbelly of Australian racing, punctuated by dark humor, scandal, and the absurd lengths people went to in pursuit of gambling dreams. Hoysted’s storytelling offers a captivating mix of crime and comedy.
49:00
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Quick takeaways
- The Fine Cotton affair exemplifies the absurdity of crime, featuring a comical plot involving horse substitution and amateurish cover-ups.
- The scandal revealed deep connections between organized crime and Australian horse racing, highlighting the lengths individuals would go for financial gain.
Deep dives
The Fine Cotton Ruse
In an infamous horse race on August 18, 1984, Fine Cotton, a low-level racehorse, unexpectedly won after being substituted with a more accomplished look-alike horse, Dashing Saltaire. The elaborate scheme, hatched by John Gillespie and his associates while in prison, was aimed at defrauding bookmakers of over a million dollars. This substitution involved extensive planning, including training Fine Cotton to perform poorly in prior races to lower its odds, while Dashing Saltaire was prepared as the replacement. Unfortunately for the conspirators, Dashing Saltaire suffered an injury just days before the race, leading them to scramble for an emergency replacement to execute their fraudulent plan.
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