2o6 THE RACING WORLD 



made wins his race, it will be seen that he is in 

 a very pleasant position. 



Making a ;C5°° book means so arranging that 

 not more than that sum is laid against any one 

 horse and has to be paid on its success, and 

 fielding would be a delightful occupation if the 

 little business always came off as one designs it to 

 do. Too often, however — from my point of 

 view — the result of the attempt is that I find I 

 have ^^300 or ^(^400 with which to pay the monkey, 

 and this altogether changes the aspect of affairs. 



" Skinning the lamb ! " When the little beast 

 can be submitted to this operation the result is 

 succulent and altogether fascinating. The term 

 signifies the pleasing state of the case which arises 

 when you have laid against every horse in a race 

 except two or three, and one of these forlorn 

 outsiders is so very good as to win. You have 

 a considerable number of bets to receive, you have 

 not a shilling to pay. Everything is all one 

 way — clear profit. Truly the lamb is an en- 

 chanting little creature, but he is very, very 

 seldom caught for skinning purposes. I hope this 

 is not too jubilant, but it is so agreeable to think 

 about and to anticipate that one must be a little 

 exuberant. 



The ranks of bookmakers are often recruited by 



