Taxman Targets the King of Punters - Zeljko Ranogajec

[UselessBettor]

http://www.theaustralian.com.au/national-affairs/treasury/taxman-targets-the-king-of-punters-zeljko-ranogajec/story-fn59nsif-1226229779154

Interesting read.

[UselessBettor]

In particular :

"There is nothing particularly profound about this. We've been successful but the rules are simple and there are a million books that tell you how to do it. You just need to know what the odds are."

Very interesting to read.

[Chrome Prince]

You know why there's no mystery?
Z is no better gambler than anyone.
Money makes money, and if you can get better than 10% TAB odds on hotpots from the TAB itself, it's probably the easiest gig in the world to make 1% to 5% POT just betting.

Say 2.5% of of $100, the average punter would keep trying to find some better returns.
2.5% of $100,000 would do any average punter for the day.

Couple that with he can easily arb on Betfair including commission on hotpots.
Whereas due to commission any arb opportunity is hardly worthwhile.

He had a big Keno win and he used it smartly, but there is no mystique over his betting prowess.

I think his tax would be more to do with capital gains and asset disposal or business dealings rather than his actual betting activities.

The difference between Z and us.....................money makes money.

[Barny]

Post moderated. Please refer to members by their correct User Names. Thank you. Moderator 3.

[rails run]

...He had a big Keno win and he used it smartly...
Keno need the $mil jackpots to go off regularly to keep the mugs interested. Wonder who handed him the ticket with the winning numbers neatly etched on it? Departing with a small commission of course

[AngryPixie]

Must have been a slow news day. Hang on ... news! The Australian!

What a nothing story. Let's go visit some rental properties and see if anybody knows him.

[Chrome Prince]

Well I'm certainly not Z, not even close unfortunately.

I just get a little fed up with how some punters are granted rebates and incentives and the real core of any business are it's bread and butter customers.

There are three or four very large punters who are receiving rebates and as well as that manipulating the markets.

A rebate plus the opportunity to manipulate the markets all add up to far more than a 10% advantage over the everyday punter.

So it doesn't actually take talent to win, like the punters who are at the mercy of the big hitters and without rebates.

Here's an analolgy of just how unfair it all is for the normal bloke.

I open a Milk Bar and pay trade prices.
Next door a big chain comes in with millions of dollars, so can buy everything cheaper due to rebates.
They undercut me and put me out of business.
The only other consideration is that they also have ten times my overheads.

Now fast forward to the punter, there are no other overheads for the big hitter.

And there you go, a very small percentage are winning a lot and cannibalising the average punter along the way.

[mattio]

bhagwan, here's an opportunity to sell "Z" one of your many systems ..... when you're talking to "Z" ask him if he's read "Unlesh The Beast".

We all read "Unleash The Beast".......still waiting for the moral to the story!