Shaun,

Sorry to be a real nitpicker, but why do you put a decimal point in there? It's $80000 or $80,000 or $80 000. It's not $80.000

That's $16000 per annum tax free level stakes betting.

If he only increases his bet only each time his bank doubles in size (roughly twice a year) that equates to a lot more than $16,000. It's a very nice living tax free with a pretty good pay increase each year.