214 THE TURF 



have made up their minds that there is "a good 

 thing," and they hasten to get on, in which case " I'll 

 take 5 to 4" or " I'll take 30 to 20" is speedily heard, 

 and if backers — now become "layers of odds" — are 

 willing to continue at the rate, "I'll take 2 to i " 

 follows. Perhaps, on the contrary, there is no general 

 opinion abroad in favour of any one horse, in which 

 case "the field a pony," is soon altered to " 5 to 4 on 

 the field," " 6 to 4," and so on until a price is reached 

 at which some backer will deal. There may, again, 

 be some horse with an obviously great chance, the 

 excellence of which bookmakers are at least as well 

 able to perceive as other people. If this be so — after 

 some futile attempts on the part of backers to get on 

 at even money or by offering to lay short odds — there 

 is a pause until some prominent member of the ring 

 proceeds to set the market. "I'll take four ponies! " 

 is possibly his suggestion — a pony, for some unknown 

 reason, being a favourite sum — and backers — " the 

 talent " they used to be called, not without a touch of 

 satire, as one suspects — either lay the price or, by 

 declining to do so, induce a less exorbitant demand. 

 When a number of indifferent horses are about to run, 

 the ring, in its endeavour to find a favourite, may 

 begin by offering 3 to i or 4 to i on the field, and 

 extend the price until backers make up their minds. 



There is usually some betting in London, Man- 

 chester and elsewhere on the mornings of race days 

 — which means on nearly every morning throughout 



