Horses race in Ascot Stakes during Royal Ascot meeting in England

The transcript describes a half-mile race at Ascot, highlighting the excitement and drama of the event. It begins with an introduction to the race and its participants, followed by a detailed account of the race's progress. The narrative builds up to a dramatic conclusion where unexpected events lead to the disqualification of a horse, Royalist IV, despite initially appearing to win. The story captures the thrill and unpredictability of horse racing.

What was the significance of the heavy wagering mentioned in the text?

How did the crowd react to the outcome of the race?