1 83 THE BLUE RIBBON OF THE TURF. 



have probably been 2 to 1, or even more, against its 

 chance, as the horse never showed prominently in the 

 race, which vras won by an animal so little fancied by 

 baclcers that IG to 1 was actually laid against its chance. 



When there is sufficient time, even in the space of 

 three or four minutes sometimes, ' the market,' as the 

 saying goes, ' will revolutionize itself' and the horse 

 Avhich was made favourite be relec^ated to a lonq" price, 

 some other animal being promoted to the post of 

 honour. It is difficult to give a reason for this, other 

 than one given to the writer b}^ a hanger-on at race- 

 meetings, who has acquired considerable knowledge of 

 such matters. 



' You see, sir,' he said, ' it's the money as does it all. 

 It's fine business, it is, Avhen a man has laid forty to 

 sixty agin a horse as goes back to five to one, and is 

 then able to lay fifty to forty, or mayhap even money, 

 agin another as comes with a rush acause of its being 

 heavily backed by its owner. In that case, you see, 

 sir, he has a century any way in his book, if neither o' 

 the two win, and has other four all a running for him 

 at some sort o' odds ; and if he has booked a matter 

 o' sixty quid (pounds) for them, he is sure to get 

 round with a big profit. Only one horse can come in 

 first, you know, sir, and that is the one he's got to pay 

 over ; and, of course, if he's a-doin' for " the ready," 

 he has to give back the stake. The reason as how 

 horses come and go is that a cute owner, thinking the 

 horse he has entered in the race can beat all the 

 others, waits till he sees a good favourite made before 

 he backs his own horse, and then he goes and puts on 

 a couple of monkeys (£1,000) with one of the big pen- 



