I was soon “at home” at the “game.” I was sharp and cautious, with but little capital, so, for a time, our rule was “small bets only.” Lor! how the coin came in! seldom did we have a losing day. Well! to sum up my many years of experience, money has ever since rolled in. I have long since been in a position to take any bet you like, from half a sov. to thousands, “with pleasure,” and “thank you.” Money soon became no object to me, nor is it now. How comes it thus? One answer only. Because betting is a one-sided game, and is almost wholly against the backer. Thus the “bookmaker,” be he a ready-money bookie on the course or a S.P. bookie at home, is as certain in the long run to “cop” the backer’s coin as I am writing this. To be sure, the bookie attending the meetings can control his liabilities to a certain extent, which a starting-price bookmaker cannot do; but really it matters little—the bookmakers get the cash in the long run. Let me say that I am referring to substantial well-known bookmakers, and not to the crowd of penniless welshers who infest every race meeting held. I am writing, as I have said, more particularly for the benefit of backers; they can adopt my advice or not, as they please. Now listen. I have attended every race meeting held in the land over and over again. I am as well known in sporting circles as any man could possibly be known, from the highest in the land to the lowliest, so to speak; my betting transactions amount to thousands and thousands—I really cannot say how much. I am known, and properly so, as a very wealthy man—money is nothing to me—and let me candidly and truthfully tell you that I have never known a backer of horses to permanently succeed. The backer is successful so long as his money, pluck, and luck lasts, or until ruin has overtaken him. He wins and loses—wins and loses. He is up and then down—up and down. Hope! hope! hope! prompts him to go on; and he goes on. He diligently studies all kinds of plans and systems; he also fools his money away with “tipsters,” who have been described as a set of race-course harpies; every system, all of them of course, certain and sure. He tries “1st favourites,” “2nd favourites,” “1st and 2nd favourites,” “newspaper tips,” “newspaper naps,” “jockey’s mounts,” and numbers of other plans and systems—some his own particular fancy, and some other people’s. He gluts over sporting news, and talks of owners, trainers, and jockeys in a most familiar style, as though they were his own personal friends! He becomes acquainted with horses’ names and pedigrees, and eventually his mind is so full of Turf matters that business, his occupation, and employment become of second importance; he sacrifices home, comfort, occupation, and money—all! all! all! What for? In the hope of easily making money, but in the end for the benefit of the bookmakers. My experience is not an isolated one, but truthfully is that of every well-known bookmaker on the Turf.