It will be obvious enough that a person betting such large sums runs heavy risks, more especially as he so seldom goes for big odds. Risks, however, are comparative, and it should be easier, therefore, to realise a 7 to 4 chance than to obtain a win when the odds are at the rate of 66 to 1; in the latter case the bettor only requires to risk £15 to win £1,000, while in the former case to win a similar amount a sum of nearly £600 will require to be risked. Some bold spirits on the turf, when they think the opportunity has befallen them, "down the pieces" in the most fearless manner, or rather they go in for big money at the risk of those who will give them credit. On some occasions a lucky coup will be made that may prove to be the precursor of good fortune. A man may bring off a double event or may win a few hundred pounds over a handicap, and so be able to inaugurate a successful career on the turf. On the other hand, a person may bet for a season with all his might, and with fair knowledge and experience, and lose more than another man may pocket. Numerous instances of such being the case might be cited. It is not long since the sporting journals related the downfall of a backer who in one season made a tolerably nice little fortune by backing the mounts of the chief jockey. In a few months the thousands which that person had realised had taken unto themselves wings and flown away, and so he became "broke," like similar speculators. There are, however, men on the turf at the present moment who are worth money, and who earned what they possess by betting. The persons here alluded to have proceeded on the lines that "small fish are sweet," and have been contented with modest profits, taking care to keep carefully what they gain. "Old Thatchem,"[5] who is the happy possessor of a whole village in a well-known racing county, made all the money with which he bought or built his houses at the race-meetings held in his own shire. His first bit of luck--he was then a day labourer--was in realising a bet of £10 to 10_s._ on Princess for the Two-year-old Stakes at Doncaster, in 1843. A sum of £10, forty years ago was thought by a labouring man to be "money," and such was the opinion of "old Thatchem." Not a penny of the £10 was parted with till next year, when a sovereign invested on Kedge for the Champagne Stakes doubled the sum, whilst £2 invested on Bee's Wing for the Gold Cup added £16 to the hoard. In three years the old man was worth a cool hundred, which he invested in the purchase of a house. His ambition being stirred, he continued his careful and successful career, and soon became an adept at his business; not that he was always successful; oh, no, many a time he felt the frost of speculation; on such occasions, like a prudent general, he wisely desisted from business for a brief period that his _luck_ might have room, as he was wont to say, to turn itself round.