With all this in my mind, I press my readers to understand that I leave the ethics of wagering alone for the present, and confine my attention strictly to the question of expediency. What is the use of wearing out nerve and brain on pondering an infinite maze of uncertainties? The rogues who command jockeys and even trainers on occasion can act with certainty, for they have their eye on the very tap-root of the Turf upas-tree. The noodles who read sporting prints and try to look knowing can only fumble about among uncertainties; they and their pitiful money help to swell the triumphs and the purses of rascals, and they fritter away good brain-power on calculations which have no sound basis whatever. Let us get to some facts, and let us all hope in the name of everything that is righteous and of good report that, when this article is read, some blind feather-brains may be induced to stop ere the inevitable final ruin descends upon them. What has happened in the doleful spring of this year? In 1887 a colt was brought out for the first time to run for the greatest of all Turf prizes. As usual, some bagatelle of a million or thereabouts had been betted on a horse which had won several races, and this animal was reckoned to be incapable of losing: but the untried animal shot out and galloped home an easy winner. So little was the successful brute distressed by his race that he began to caper out of sheer light-heartedness when he was led back to the enclosure, and he very soon cleared the place in his gambols--in fact, he could have run another race within half an hour after the first one. In the autumn this same winner strained a ligament; but in spite of the accident he ran for another important prize, and his lightning speed served him in good stead, for he came in second for the St. Leger. Well, in the spring this animal was entered in a handicap race, and the weight which he had to carry seemed so trifling that good judges thought he must romp over the course and win with ease. Hundreds of thousands of dolts rushed to wager their money on this chance, and the horse's owner, who is anything but a fool, proceeded to back his own property lavishly. Now a certain number of the betting-rogues appeared to know something--if I may be pardoned for using their repulsive phraseology--and, so long as any one was willing to bet on the horse, they were ready to lay against him. Still the pigeons would not take warning by this ominous symptom; they had chances enough to keep clear of danger, but they flocked into the snare in their confused fashion. A grain of common sense would have made them ask, "Why do these shrewd, hard men seem so certain that our favourite must lose? Are they the kind of persons who risk thousands in hard cash unless they know particularly well what they are doing? They bet with an air of certainty, though some of them must be almost ruined if they have made a miscalculation; they