Originally Posted by TheEasyRun

Name one big money Professional Punter that makes his sole income on punting horses here in Australia. Just one. (sponging commission agents not accepted).
The only men that even come close are the boys in the States that turn over massive amounts on exotics, just to recoup a turnover bonus from the totes.
Their profit, funnily enough, averages out to the figure of the bonus. One bad year and their nervous, two in a row and their dead in the water.

The 'great' ***** did not make a betting fortune on the punt. He in fact lost all his money on the punt.
His selection and staking methods were seriously flawed. He only managed to survive with 66-1 shots carrying an increase in stakes. He did not last long. He was one of the great falacies of Australian punting.