My two cents..

Back to the original thread and lets look at it for what it is....

The blokes assuming $6,000 can be turned into $50,000 in 1 year on
$7.00 selections. (I certainly hope he doesn't mean returning 700% each time on average.. that would have to be impossible.)

Let's assume his strike rate is 1 in 5.. and he makes $7.50 on average.
An extremely healthy 50% POT, hard to acheive these results but certainly not impossible if your selection processes are thrifty.

I ran a drawdown simulation 50 times on these excellent returns over 1000 bets, the average drawdown was 33.3 units. Now factoring in an unexpected bad run might occur the average of the highest 25 drawdown results is 41 units. Let's say we are prepared to bet on this very successful system aggressively and are happy in the knowledge that if a bad run might occur we are very confident we'll still be okay as our betting is geared towards this bad run happening.

So we'll bet 1.2% of our account (factoring in the 41 units drawdown might occur). That's saying if the bad run occurs in the near future we won't lose more that 50% of our account.

So the starting bet on $6,000 would be $72.00.

How many bets using this method to turn $6,000 into $50,000?

Assuming each time we bet our 1.2%.. and get back 1.8% on average.
It would take just over 350 bets to turn $6,000 into $50,000. (The power of compound interest!)
(The next year that $50,000 would be over $400,000)

That is 1 bet per day, starting at $72 bets. Certainly not impossible if one has the selections.

If you've been doing it long enough how hard would it be to find just 1 horse out of the 100 odd that race every day that is 50% or more over the odds.. just 1 horse.

So let's stop ridiculing the guy and hear what he has got to say.