According to "Ruff's Guide to the Turf," the money won by horses running under Newmarket rules, in 1889, amounted to £480,889 18s., and if for illustrative purposes the sum won by steeple-chasing and hurdle-racing be set down at the modest amount of £20,000, we thus obtain a grand total of half a million sterling. As a rule, the money won in racing is that of the gentlemen whose horses run for it. With the bright exception of Ascot, can a meeting be named that gives twenty-five or thirty per cent. of its drawings to the men who supply the horses? Who finds all, or, at all events, say seven-eighths of the money for the leviathan stakes now becoming so marked a feature of the racing of the period? The gentlemen, of course! As a matter of fact, it may be said that a hundred or two hundred gentlemen place a large sum of money in a pool, that one of their number may win it in a race which tens of thousands of people pay money to see run. In plain language, these gentlemen contribute say £10,000 to a particular race, in order that speculators, who have formed a racecourse and erected a grand stand and numerous refreshment bars, may make as much as the winner; the rent of the racecourse and the wages of the _employés_ being deducted, the profit derived from the venture must still be enormous, and might as well find its way into the pockets of those who supply the horses and the stakes. "Owners," as is well known, provide in reality most of the so-called "added money," while in the classic races, namely, the Two Thousand Guineas, the Oaks, Derby, and St. Leger, it is simply their own money which the patrons of these stakes run for. In such contests as the Derby and St. Leger, as many as one hundred and eighty or two hundred horses may be entered. As only one animal can win, the owner of the horse which accomplishes the feat is paid by the gentlemen whose horses prove unsuccessful; and were it not that so much gambling can be accomplished by making the matter dependent on a race between a few horses, the persons interested might, as has been said, toss up a copper to determine the result! Of the horses entered as yearlings for the classic events, how many will be found at the starting-post on the day of the race? Probably nine or ten on the average, or, at the most, fourteen.