The backer of horses, as a rule, takes to it as a business by which to make money, as in every other business. Every business and profession (for a master man at any rate) is a speculation. Betting is a business, but a speculative and, I should say, the most speculative kind of business there is. There is nothing wrong or sinful in betting. But it is a business so very speculative, so very much against the backer, that, as I hope I have proved, it is a fool’s game, and for business considerations only it is best left alone. In addition, however, to the reasons before set out, why the backing of horses never will pay any one (let “the sportsman” be never so clever and cunning), there are in addition other and more potent reasons of force. Yes! forcible reasons why the _respectable_ person should not meddle with it, at least, until the greatest reforms have taken place. Look, for instance, at the class and character of those regularly participating and taking part in betting pursuits and attending race meetings. Think for a moment who and what the majority are. I advisedly say the majority, and I wish to emphasise it. Ask the police; ask the railway people; ask any one who has to come in contact with them. Betting and the race meetings collect together huge assemblies of the lowest and vilest scoundrels on earth—thieves, cheats, ruffians, highwaymen, vagabonds, returned convicts, castaways, ne’er-do-wells, welshers, card-sharpers, tricksters, foul-mouthed quadrupeds, villains, and the worst form of humanity that it is possible to get together—many of them superbly clothed and well dressed—all, all, in some way or other preying upon the thousands upon thousands of the fools of backers in one way or another. This is truth; deny it who can! Can any one name an attraction that draws together one-tenth of this scum of the earth? No; we all know it. Don’t let me be misunderstood, for goodness’ sake! I am not inferring that all who attend race meetings are to be classed in the above frightful category. Certainly not. We have the very best people—the most respectable, the politest of persons, from the highest in the land to the lowliest—in their thousands also; but I should say that for every respectable person there are fifty otherwise.