PLAY OR PAY,—a description of BET so made. Whether the subject of such _bet_ be MAN or HORSE; the object _a race_, or a _boxing_ match; either party being present at the time and place appointed, ready to perform _their_ part of the engagement previously entered into; the other _not_ appearing, or appearing, and _then_ and _there_ refusing to enter into the contest, upon the event of which the article or bet was originally formed, can lay no claim whatever to the stakes deposited; and the holder stands justified in handing such stakes over to the WINNER, having sufficient evidence in justification on his own part, to prove that it was _bona fide_ a "PLAY or PAY" bet. PLAY OR PAY,—the name of a horse of much recent and racing celebrity, the property of MR. DURAND. He was bred by MR. PARKER, and got by _Ulysses_ out of _Tiffany's_ dam. In 1794, at three years old, (in the name of _Mars_,) he won 50_l._ at Epsom, beating _six_ others. At Stockbridge, a sweepstakes of 10 guineas each, nine subscribers. At Winchester he walked over the Course for a sweepstakes of 20 guineas each, eight subscribers. In 1795, when four years old, he beat Mr. Turner's _Tim Tartlet_, two miles for 200 guineas. The next day he beat Mr. Cauty's _Alderman_, two miles for 50 guineas. He won also 50_l._ at Guildford; a sweepstakes of 15 guineas each at Stockbridge, seven subscribers: the next day a sweepstakes of 10 guineas each, six subscribers. At Winchester, a sweepstakes of 10 guineas each, eight subscribers. At Egham he walked over for a sweepstakes of 10 guineas each, five subscribers. The next day he won a 50_l._ plate, beating _Pandolpho_ and _Serpent_. In 1796, when five years old, he won the Craven stakes, of 10 guineas each, at Newmarket, beating _eleven_ others. 50_l._ at Ascot Heath. In 1797, then six years old, he won 50_l._ at Epsom, beating five others. 50_l._ at Lewes, beating _Gohanna_ and _Keren-happuch_. 50_l._ at Abingdon, beating _Keren-happuch_, _Paroquet_, and _Roland_. In consequence of having been so _hard run_ for FOUR years in succession, he started SEVEN times in 1798 without _once_ winning. In 1799, he won 50_l._ at Epsom, beating _Yeoman_ and _Midnight_. 50_l._ at Guildford, beating Mr. Lade's _David_, and two others; and 50_l._ at Egham, beating Lord G. Cavendish's horse by _Jupiter_; after which he was purchased by Mr. Dashwood, in whose possession, at nine years old, in 1800, he beat Mr. Whaley's _Post Boy_, four miles over Ascot, for 100 guineas, and walked over at Egham for a sweepstakes of 20 guineas each, three subscribers: after which he appeared no more on the turf.