190 THE RACING WORLD 



would be glad to take 5 to 2 they have to put up 

 with 7 to 4, supposing they are able to get it. 



An old story describes how some inquirer who 



" wanted to know," and asked a member of the 



ring by what arithmetical processes books were 



made, received for answer, " I know nowt about 



'rithmetic. I want to lay 6 to 4 on the field." 



He did himself injustice, however, for no doubt, 



without being aware of it, he must have known a 



good deal about 'rithmetic. Someone in a French 



play was surprised to learn that he had been 



talking prose all his life without knowing it, and 



much the same must have been the case with this 



bookmaker, who was a better mathematician than 



he suspected. Mental arithmetic is, indeed, the 



foundation of the bookmaker's business, for if he 



does not " bet to figures " — that is, keep his book 



as level as possible so that some horses will pay 



money to meet losses on others — he is likely at any 



time to get into a mess. In theory he ought not 



to lose, and would not do so if only backers could 



be persuaded to support every horse in a race ; but 



of course that is just exactly what they won't, and 



are not likely to, do ; the natural consequence 



being that the success of favourites against which 



he has laid a great deal of money is a more or less 



heavy blow to him, for the obvious reason that he 



