THE TURF. 
It is on a plurality of events that figures must be 
resorted to, the chances on which must be put to the 
test of arithmetical solution. As everything may be 
understood which man is permitted to know, a few 
lessons from the schoolmaster will furnish this ; and 
we now give the following simple examples, which 
are easily understood, and generally applicable. And 
let us add, that, to a betting man, who speculates 
largely, the difference of half a point in the precise 
odds may win or lose a large fortune in the course of a 
few years. 
EXAMPLES. Two horses are about to start. The 
betting on one is even, and the odds on the other is 
6 to 4. What odds must B bet A that he does not 
name both the winners? The expression for the former 
is -J-, and for the latter T 6 Q ; but -f$ is equal to f-, 
therefore say 
1 3 3 
-X- = -; and 10-8 = 7: 
hence the odds are 7 to 3. B, therefore, lays A 7 to 3 
that he does not name both winners, and then hedges as 
follows : As three pounds is the sum to which he has 
staked his seven pounds, he lays that sum even that A 
wins ; and on the other event he lays 6 to 4 (the odds 
in the example) the same way. Now A wins both, and 
receives of B seven pounds ; but B wins three pounds 
on the former by hedging, and four pounds on the 
latter, which is equal to what he has lost to A. It 
is here obvious, that had B, in hedging, been enabled 
254 
