Wednesday, 7 March 2012

John Wilson

I must admit that I don't often read the TARGET 100k AUSSIE PUNT blog, (the world of Australian Horse Racing is of limited interest to me), but the latest post was of interest. I mentioned 'big gamblers' in my last post, and many readers will probably be aware of John Wilson, aka Zeljko Ranogajec, who is "a professional gambler from Australia, with an annual, global betting turnover that is claimed to be over $1 billion" - and by most peoples definition would qualify as a 'big gambler'.

According to the Wikipedia entry, he dropped out of university to concentrate fully on advantage gambling. (Sports and horse betting can be beaten in the long run by skillful handicappers who only bet when they believe the line offers them an advantage). Indeed.

While reading this article, I came across a piece that sums up the big fish / small fish problem faced by the exchanges:
The nature of racing is also such that not everyone can win - it's a zero sum gain. In fact, the more Ranogajec won, the less was left for other punters. This is McIlwain's main gripe. "They are giving money back in rebates to punters so they can screw over the betting pools," he says.

"The ordinary punter is subsidising these guys." The result has been a devastating one for the weekend gambler. The sheer weight of money from Ranogajec, facilitated by rebates, has flattened out the odds and means that any wins enjoyed by punters are far smaller than in years past. It should be remembered that Ranogajec bets in all states, it's just that TT was the biggest provider of rebates." The recreational gambler is losing their money faster," McIlwain says." And if you take their money away from them too quickly, then they lose interest. "Taken to its logical end, it could mean smaller betting pools and less money to fund the racing industry.

2 comments:

Rick said...

It's true money makes money but I don't think this guy dictates how much I win or lose.

Scott Ferguson said...

this guy has been betting in telephone numbers for a long, long time, so any statement by rival TAB chairmen that it's a new thing is utter rubbish.