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A seasoned bookie betting heavily on a high percentage hitter, especially one who has a good average & has performed consistently in the past, makes it likely to miss the decline in his performance, especially if it is interspersed with brilliant innings.

A) A seasoned bookie betting heavily on a high percentage hitter, especially one who has a good average & has performed consistently in the past, makes it likely to miss the decline in his performance, especially if it is interspersed with brilliant innings.
Use of "HIS" is ambiguous as it can refer to either Bookie or Hitter. First "IT" is used as a placeholder, but the sentence original intent requires a Noun to remove ambiguity. Second "IT" has no antecedent at all as it refers to "PERFORMANCE" but performance is not mentioned anywhere in the sentence.

B)A seasoned bookie who bets heavily on a high percentage hitter is likely to miss the decline in his performance, more so when it is interspersed with brilliant innings, especially one who has a good average & has performed consistently in the past.
"IF" should be used instead of "WHEN". The modifier "especially one who has a good average & has performed consistently in the past" is placed incorrectly, and thus appears to modify nearby noun "Innings" instead of "Hitter".


C)Betting heavily on a high percentage hitter, especially one who has a good average & has performed consistently in the past, a seasoned bookie is likely to miss the decline in the hitter’s performance, especially if it is interspersed with brilliant innings. - CORRECT.


D)A seasoned bookie who bets heavily on a high percentage hitter, especially one who has a good average & has performed consistently in the past, makes missing the decline in his performance likely more so when it is interspersed with brilliant innings.
Because the bold portion in this option is a non essential modifier, we can safely eliminate that portion.
---->A seasoned bookie makes missing the decline in his performance likely more so when it is interspersed with brilliant innings.
Apart from grammatical errors this option changes the original intent because it means that "Bookies makes the decline in performance". Use of "HIS" is ambiguous & WHEN is incorrectly used.

E)A seasoned bookie’s heavy betting on a high percentage hitter, especially one who has a good average & previously performed consistently, makes it likely to miss the decline in his performance being interspersed with brilliant innings.
Because the bold portion in this option is a non essential modifier, we can safely eliminate that portion.
---->A seasoned bookie’s heavy betting on a high percentage hitter,makes it likely to miss the decline in his performance being interspersed with brilliant innings.
Apart from grammatical errors this option changes the original intent because it means that "Betting makes to miss the decline in performance". Use of "HIS" is ambiguous. "IT" is incorrectly used the same way as in option A.

So the answer has to be C.
Hope this detailed explanation helps.
(Kudos encourages many others, like me.)

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full marks for posting such brilliant question..
my approach is little diff For big sentences like this ...i look for meaning(always works best for full underlined no pattern sentences) modifier err(put it near the one it is modifying) , parallelism err( check if there is any list)

A seasoned bookie betting heavily on a high percentage hitter, especially one who has a good average & has performed consistently in the past, makes it likely to miss the decline in his performance, especially if it is interspersed with brilliant innings.

A) A seasoned rookie betting heavily on a high percentage hitter, especially one who has a good average and has performed consistently in the past, makesit likely to miss the decline in his performance, especially if it is interspersed with brilliant innings.-> decline of whose performance hitter's or bookies's also....it can not stand for humans ; second it (bolded one) correctly refers back to his performance

B) A seasoned rookie who bets heavily on a high percentage hitter is likely to miss the decline in his performance, more so when it is interspersed with brilliant innings, especially one who has a good average and has performed consistently in the past.
-> we need hitter before the modifier

C) Betting heavily on a high percentage hitter, especially one who has a good average and has performed consistently in the past, a seasoned rookie is likely to miss the decline in the hitter’s performance, especially if it is interspersed with brilliant innings. ->> Always check if the middle one can go modify both items coming after or before it - Check out OG12/105 ...->

D) A seasoned rookie who bets heavily on a high percentage hitter, especially one who has a good average and has performed consistently in the past, makes missing the decline in his performance likely more so when it is interspersed with brilliant innings.-> totally akward construction


E) A seasoned rookie’s heavy betting on a high percentage hitter, especially one who has a good average and previously performed consistently, makes it likely to miss the decline in his performance being interspersed with brilliant innings. subject becomes heavy betting ..meaning err
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