184 THE SPORTING WORLD. 



account with chance, and he usually so arranges 

 it as to leave the balance the right side of the 

 book. If he only did this it would be all 

 well enough, we should have no greater right 

 to find fault with him for availing himself of 

 his superior knowledge in calculating odds, than 

 any other man for calculating the chances in 

 favour of, and against, any speculation he enters 

 on. The better has nothing to do with other 

 persons' books, or with the wisdom or reverse 

 of the bets of those making a book, or not, 

 he offers or takes such odds as suit himself. 

 If they are such as do not suit the bets 

 already made by others it is their folly, not 

 his fault, if they accept them. If a foolish 

 fellow chooses to back a horse that the better 

 has good reasons for having betted against, he 

 deserves to lose his money, nor can we blame 

 the other for winning it. The merchant would 

 not hesitate in buying up a man's stock of 

 hops if he had got certain information that 



