The proprietors of several weekly racing periodicals at present published, not satisfied seemingly with the sales of fifty or sixty thousand copies which they say their papers attain, send out daily tips by telegraph, or pen nightly letters to all who will pay the requisite fee, and according to their own accounts of what they achieve their success as tipsters is enormous; but it may be fairly stated on behalf of the gentlemen who cater sporting news for the daily press, that considering the difficulties incidental to the formulating of their prophetic work, they do wonderfully well, although it has been often stated against them, as a matter of reproach, that they "follow the money"--in other words, tip those horses which are being or are likely to be heavily backed. MODERN BETTING ILLUSTRATED AND EXPLAINED. I. Having received the selection of his tipster, or having become enamoured of a horse selected by himself, the bettor proceeds to his club or other rendezvous where he knows he will find a bookmaker ready to lay the odds against the horse of his choice. In this he finds no difficulty. In large towns and cities, and in smaller seats of population also, there are persons whose business it is to accommodate such customers. Bookmakers and backers have many ways of coming together; they meet at divers times and seasons and in divers places as a matter of course, and during those months when there is little or no horse-racing they keep up acquaintance with each other at billiard matches and in their clubs; indeed, sporting events of some kind on which "a nice little bit of betting" may crop up are always on the tapis, whilst during the winter season there are usually a score or so of steeple-chase meetings which are provocative of speculation in bookmaking and betting circles. The great coursing meetings which take place in the season when racing is pretty much at a standstill also give rise to a vast amount of betting, of which very little is known, because it is not published from day to day.