Harry L. Straus
From Wikipedia, the free encyclopedia
Harry L. Straus (March 10, 1896 - October 25, 1949) was an American electrical engineer, horse and cattle breeder, sportsman, entrepreneur and computer pioneer.
On April 26, 1927, Harry Straus was at a racetrack in Havre de Grace, Maryland. He had bet $10 on a horse showing twelve-to-one odds. The horse won, and Straus expected to collect about $120. However, the final odds, announced 10 minutes after the race, were less than four-to-one, and he collected only $36. Disappointmented, Straus, who was a graduate electrical engineer of Johns Hopkins University, decided to do something about it. He devised an electro-mechanical system for calculating odds, dispensing tickets, and displaying payouts on horse races. He called the device an "electromechanical totalisator".
Straus received help from General Electric's Remote Control Division, who supplied the electric relays and rotary switches to compute odds. After struggling for several years to market his invention, the first all-electric totalisator installed in the United States was at Arlington Park racecourse, Chicago, Illinois, in 1933.
A rival machine maker approached Straus and proposed a collaboration. The resulting company, the American Totalisator Company of Baltimore, dominated the parimutuel betting market for years. Harry Straus grew wealthy as his all electric totalisator became a near-universal fixture in racetracks in Europe and North America.
By the 1946, Straus had begun to experiment with an all-electronic calculating system for the totalisator. Then, in 1948, he learned of the work that John W. Mauchly and Presper Eckert were doing with the EDVAC and BINAC computers. Straus became convinced that electronic computers had enormous potential for a range of applications, including applications in the race track business.
In 1948, Straus convinced the directors of American Totalisator to invest $500,000 to shore up the financially troubled Eckert-Mauchly Computer Corporation which was then developing UNIVAC, the first electronic digital computer designed for commercial use. American Totalisator received 40 percent of the EMCC stock, Straus became chairman of the EMCC board and was active in the business side of operations. Within a year, EMCC was a healthy corporation with contracts for UNIVACs worth $1.2 million.
On October 25, 1949, Harry Straus was killed in a plane crash, and soon after the American Totalisator's directors withdrew their support from EMCC. Eckert and Mauchly were forced to look for a buyer, and sold their company to Remington Rand in 1950.
