How can horses which cost two thousand pounds and upwards be made to pay, except by betting? When an animal is not quite good enough to figure as a Derby or Cup horse, he may, as the phrase goes, be "bottled up" and kept to win a large sum of money in a big handicap. That is the way some men manage to make their horses pay; but even that plan is precarious, so many are playing the same game. As to winning money on the turf without betting, it has been shown that, with the aggregate expenses at double the sum which can be won, it is, as a rule, impossible. The majority of those now running horses on the turf are simply gamblers, many of them having gone into the business on a large scale. A round dozen of the most enthusiastic supporters of racing, it is said, do not bet, but are said to breed and run horses for their own pleasure; but among the many who have registered their colours will there be a dozen? Mr. Houldsworth is one, and Lord Falmouth was another. His lordship is reputed to have once betted with and lost a sixpence to a lady--the wife of his trainer, in fact--to whom the coin was in due time presented, set in a brooch, and surrounded with costly gems. It has often been observed, as a curious feature of the racing world, that the horses of gentlemen who do not themselves bet become at times more prominent in the turf market than the animals of those who bet heavily themselves, either _in propriâ personâ_, or by the aid of a commissioner! How comes that? It is probably because the owner does not bet that the public, believing in his _bona fides_, and that his horses will run on their merits, and independent of all betting considerations, rush into the market, and by largely supporting them, bring them to what is called a short price. Still the horses of some reputed non-bettors often figure in the quotations of the turf market in a rather suspicious way, just as if they had been given over to a clique of bookmakers to do with them whatever they pleased. That most of the gentlemen who keep race-horses use them as instruments of gambling, has been often made manifest to those who can read the signs of the times. Instances of such being the case are daily thrust upon us. It is somewhat difficult to make up an accurate account of the finance incidental to horse-racing; but by way of providing means of argument and illustration in that department of turf economy, we can take stock--it can only, however, be done in a rough-and-ready way--of the number and value of horses at present used in breeding and racing. The cost of maintaining and running these animals may then be estimated, and the interest on the money paid for them can be calculated, and the figures then obtained will give the best idea that can be formulated of the cost of the sport. Stakes run for and won can be subtracted, and the balance exhibited will form profit or loss, as the case may be.