He made the bet with the book-maker for Jeremiah, and took four hundred to twenty for himself. "I've made yours ready money," he said. "You can give me two sovs. now, or when the race is over, if Praxis loses." Jeremiah nodded; he was too much excited to speak; it was his first bet on a race, and his heart went thump, thump, and he could scarcely distinguish what was being said. "Horses at the post. False start. Butterfly bolted." Thus proclaimed the man at the tape. "I told you so," said Captain Ablewhite to Jeremiah. "Cost three thou. as a yearling; not worth his keep." The man at the tape spoke again. "Butterfly pulled up, and at the post again. Another false start. Another. They're off!" Jeremiah did not know whether he was glad or sorry that he had risked two sovereigns. He was animated by new sensations; the spirit of gambling was awakened within him. Then came the result, and Jeremiah could scarcely refrain from shouting when he heard the name of the winner--Praxis. "Here's your money," said Captain Ablewhite, after "All right!" was called out by the man at the tape. He handed Jeremiah four ten-pound notes. "Easy, isn't it? Done the trick this time. Major Rex-Schon backed it; he has a system, and has won eight thousand this year if he's won a penny." "A system?" said Jeremiah, handling the forty pounds with delight. "Yes. See which horse he backs in the next race, and follow him. Reckon you've won thirty pounds, and back the Major's fancy for a tenner." Jeremiah, after some hesitation, decided to take the advice, and backed the Major's fancy for ten pounds at six to one. Again he was fortunate, and he won sixty pounds. His head throbbed with the possibilities of the future. Major Rex-Schon, satisfied with his winnings, took his departure, and Jeremiah bet no more on that occasion. "What are you going to do to-night?" asked Captain Ablewhite. "Nothing," replied Jeremiah. "Come and have a bit of dinner with me," said the Captain. To enjoy anything at another man's expense was an opportunity which Jeremiah never neglected, and he and Captain Ablewhite had their bit of dinner at a French restaurant. The Captain was a man of expensive tastes, and the dinner was the best meal which Jeremiah had ever sat down to. The wines were hock, champagne, and claret, and Jeremiah took his share; he was entering upon a new world. When the dinner was over, and they were finishing the claret and smoking the Captain's best cigars, Jeremiah's host gave his views of betting on horse-racing.