HOW TO HAKE ilOXET ET HORSES. 191 



would astonish you in such matters, much more than 

 that a beaten horse in one race should be the win- 

 ning one in another. I am aware that I here show 

 myself a bad friend to the turf in strenuously ad- 

 vising those no more conversant with such matters 

 than yourself not to bet, for it is precisely such that 

 are wanted to fill the pockets of those who are adepts 

 in such matters ; but as I write with the intent of 

 showing a man how to make money, and at the same 

 time how he will lose it, common honesty calls for 

 my doing so in this instance." 



That there is money made, and, indeed, fairly 

 made, by betting, no one will attempt to deny ; for 

 it would be hard if a pursuit in which hundreds fail, 

 none should succeed ; but it is done by betting round, 

 so that if one thing fails, another succeeds. It is done 

 by having scouts in the neighbourhood of the differ- 

 ent racing establishments, ready to give such infor- 

 mation as is likely to affect the odds for or against 

 any particular horse, and the bettor alters his bets 

 accordingly. You may often hear that such a horse 

 has gone back in the betting ; this has been from some 



