"backing" = supporting (in the case of a literal horse, more specifically betting on) Yes to the second part. It should of course be "shouting its name".
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SweetFreedom If that's betting on the horse, "you ride into town" means "you ride your car into town"? That is, you don't ride the horse into town?Literally it would mean ride a horse into town. "Ride into town" has connotations of arriving somewhere with an attitude, air of importance, air of coming to sort things out, etc. None of this horse-related stuff i
wilpeterThe expression is more American than British,I kind of associate it with the American Wild West, like in a cowboy film.