You must have been pretty well off to be able to bet 10 bob each way in 1962! My first illegal bet as a 14 year old in 1968 was sixpence to win. That was 25% of my weekly income, or pocket money as it was called back then. I did well at first and thought it was an easy way to make money, so upped my stakes until one Saturday I lost the lot. Going without sweets for a whole week taught me a valuable lesson about the first principle of betting - never bet more than you can afford to lose.
I think they are, but if you haven't used them you lose them. That would mean you starting on 37 YAPs instead of 60.