BETTING AND "THE RING" 213 



not want to miss the price against anything that 

 *' seems to be backed," follow suit, and a more or 

 less genuine market is made by degrees. So much 

 foolish gossip is current about well-nigh every horse 

 in training, that a false lead is readily followed, 

 especially as the gossip is tolerably sure to find its 

 way into some of the numerous sporting papers that 

 are now published. One or two prominent writers, 

 indeed, are easily caught to act as "bonnets." If 

 a trainer of a certain class thinks a horse that he 

 wants to back is too much talked about, the scribe 

 is invited to pay the stable a visit, is told that the 

 animal is not very sound, it is hoped that it may 

 stand a preparation, but there are grave doubts, and 

 so on ; all of which is duly printed. Or it may 

 be that a rascally owner wishes to keep his horse 

 in the market, to lay against it or to maintain others 

 at longer prices ; in which case care is taken that 

 the scribe shall be impressed with the admirable way 

 the creature is (supposed to be) doing its work, and 

 the excellence of its chance. 



As regards post betting, that is to say betting which 

 does not begin till the numbers of the runners are on 

 the board and the horses are being saddled to be sent 

 to the post, it is a tolerably usual thing for the book- 

 makers to open out with the cry of, "The field a pony." 

 That means to say that they will lay even money — 

 an even " pony " (^25) or any other sum — against any 

 horse in the race. In many cases backers in general 



