Having recited the duties of the chief officials connected with the
business department of horse-racing, it becomes necessary to proceed
a stage further and explain the constitution of one or two of our
principal race meetings, of which only those immediately interested in
the sport know very much. The constitution of several of these events
is, however, somewhat obscure, inasmuch as the details are not known
to the public. At Newmarket it is the Jockey Club which profits or
loses by the racing which takes place on the classic heath. At Royal
Ascot the handicappers are only the servants of higher powers; at
Goodwood the moneys derived from the annual meeting, whatever they
may amount to, are placed to the credit of the noble Duke on whose
estate the races are run. The revenue from the race meeting annually
held in Goodwood Park is reputed to be large, and as in a comparative
sense little addition is made to the stakes, the profits are probably
considerable. About Epsom and its grand stand, information of an
interesting kind has been frequently published. At Doncaster, the
various meetings are in the hands of the corporation, the profits
derived going to benefit the town. Gate-money meetings are promoted
by joint-stock companies, and several of them have become profitable
institutions. It has been computed that on some race days at
Manchester, as many as eighty thousand persons have paid for admission
to the ground in sums varying from sixpence to a guinea.
New sources of revenue are frequently devised. Tattersall rings,
not known of old, yield a handsome sum, and are supposed to be used
only by the _crème de la crème_ of the sporting fraternity; charges
are also made for admission to the saddling paddock; at every turn,
indeed, there is something to pay, either legitimately, or by way of
_backsheesh_. The various refreshment stations, in the shape of rooms
and tents, and often multiplied "bars," likewise yield a considerable
revenue.
Newmarket is the capital of the turf in England. It is known as
"head-quarters," and is the nominal seat of the turf legislature, which
is represented by the Jockey Club. There are thirty-one different
racecourses at Newmarket, ranging from a little over a furlong, to the
Beacon course of four miles, while, during the year, seven meetings
take place at which about two hundred and fifty races are decided.
Newmarket, as well as being head-quarters of the turf, so far as sport
is concerned, is also a resort of many trainers: several stables of
importance being located at that place. The Jockey Club being eminently
conservative, none beyond the stewards and its principal servants know
anything about its financial position; but it is supposed to be growing
wealthy. The numerous racecourses at Newmarket form a puzzle to the
uninitiated, and, conservative as the Jockey Club is known to be, the
time is not far distant when it will require to remodel its racing
ground; race grounds might be named, which, although less classic, are
more convenient.
Before racing can be entered upon, the horses must, as a matter of
course, be in a fitting state of preparation to run for them. Trainers
to prepare those animals for their work, as also jockeys to ride them
in their various contests, is a matter of necessity. Race-horses are
very expensive to keep; but it is questionable if more than twenty-five
per cent. of the animals in training ever earn for their owners much
more than a clear £1,000 per annum. Horses which prove successful in
the Two Thousand or One Thousand Guineas Stakes, the Oaks, the Derby,
the St. Leger, and the more important handicaps, earn large amounts
for those to whom they belong. These, however, are exceptional horses;
generally speaking, they are _the_ horses of their year. Owners of
one or two animals who lay themselves out to win an occasional big
handicap, occasionally bag a large sum of money, chiefly in bets,
however.
Investing money in blood stock for racing purposes is much like
purchasing a lottery ticket. It is the breeders, we suspect, who make
most money out of "blood stock." There are, at least, a dozen famous
breeding studs in England, kept up at great expense, and introducing
to the turf, year by year, many highly bred horses, the greater number
of which are sold by auction; two breeders of renown, out of their
profits, were enabled to found races of value which are annually
decided at Newmarket.
The "business" of racing includes the breaking-in and training of the
horses, and on the skill with which this is accomplished, depends much
of the success or non-success which attends the animals during their
racing career. Some trainers are particularly fortunate with yearlings
entrusted to their care, and are able to bring them to various race
meetings trained to perfection. Others, again, less able in their
profession, or less fortunate in the ability or stamina of the animals
entrusted to their care, do not make so good a show with their horses,
and are consequently not looked upon with the same favour by the
racing community. It is seldom difficult, however, to win a race with
a good horse (or even a bad one) properly prepared for the struggle.
Many capable judges of horse-flesh think that horses are occasionally
"overtrained," and that, in consequence, when the hour of contest
arrives, they are compelled to succumb to some more robust rival. Some
trainers have acquired fame in their business from their ability to
train a horse to win the Derby; others devote their time and attention
to the preparation of horses for long or short distance races, whilst
a third class look chiefly to steeple-chasing, and delight to train
horses to jump.