Owners have also existed who, for a time, have reaped a rich harvest by the success of their horses. Over Hermit's Derby Mr. Chaplin is said to have landed an enormous stake, something between a hundred and a hundred and twenty thousand--he never received the whole of the amount which he won. Mr. John Hammond was also at times very successful in winning large sums. He is said to have cleared over £70,000 by the victory of Herminius in the Ascot stakes of 1888. This horse he had bought for two hundred and forty guineas! A singularly lucky owner was Mr. James Merry, who is supposed to have cleared over £80,000 when Thormanby won the Derby. Another big win was that of Mr. Naylor, who is supposed to have won £100,000 over Macaroni for the Derby of 1863. Nevertheless, from a financial point of view betting on horse-races is almost without exception disastrous, and, whether they know too much or know too little, men who systematically indulge in it to any great extent stand an excellent chance of being left with empty pockets. As for the general public, a number of whom are more or less given to risking an occasional bet, their chance of winning is absolutely infinitesimal. An individual who bets throughout the year is indeed very lucky if he loses only two-thirds of the money he has risked--as a rule he does far worse than this. The sporting papers, on which many rely, are of course genuinely anxious to assist their readers to find winners, but do not pretend to be infallible guides. Sporting journalists themselves, who should be in an excellent position to obtain reliable information, are not infrequently peculiarly unsuccessful in their own bets; probably few end the year on the winning side. The most expensive guides of all are, of course, the advertising tipsters, some of whom make quite large sums by issuing thoroughly unreliable vaticinations to a touchingly confiding clientele. Some time ago one of these men very cleverly took advantage of a newspaper competition, when a prize had been offered by a sporting paper for naming the most popular tipster of the day. Purchasing some thousands of coupons he put his own name on them, of course varying the writing to prevent suspicion. As a result of these tactics he was eventually adjudged to be the prize tipster, and, though the scheme cost him a good deal of money, it eventually brought considerable grist to his mill. The circulars and letters issued by these prophets are generally admirably calculated to increase the number of their followers. Not infrequently they adopt a high-flown style. One for instance, moved by purely philanthropic motives, declares that "when he casts his practised eye on the broad surface of struggling humanity and witnesses the slow and enduring perseverance or impetuous rush of the many to grapple with a cloud, he is seized with an intense desire to hold up the lamp of light to all." Another adopts a bluffer style and writes:--