"Then you must hedge," said Jack.

"That is it, exactly. I must back Pocket Book for first place. This is a sure tip—I can depend upon it."

"Then send to the fellow you bet with, and let him put you on Pocket Book."

"That is just it, Jack—the bookmaker wouldn't take a bet from me."

"Why ever not?" said Jack, mystified.

"Because I'm a minor—I'm under age."

"Then how do you manage?" said Jack.

"Why, I bet through another man."

"I see," said Jack, for this was but another edition of his own little adventures. "And that man——"

"Is Raffles," said Acton, quietly.