How Australia’s biggest punter gave up his lucrative career as a GP to trade millions of dollars a year on horse racing
- Dr Nick says he is an ‘algorithmic trader’ who gambles over $100million per year
- He uses mathematical models to predict the chances that a horse will win a race
- Dr Nick’s unique models allow for thousands of bets to be placed every second
- He gambles using many small bets instead of large sums to make his fortune
A former doctor who became Australia’s biggest punter has revealed his secrets to success on the race track.
Dr Nick, who withheld his surname to remain anonymous, calls himself an ‘algorithmic trader’ instead of a gambler, who trades hundreds of millions of dollars per year on the horse racing market.
The 61-year-old places his bets using statistical analysis, where mathematical models are used to predict the chances that a horse will win a race.
‘I find the idea of having no idea about something and just putting on money and hoping something will happen is … mind numbing basically,’ Dr Nick told The Sunday Telegraph.
Dr Nick uses statistical analysis of horses and tracks to create a wealth of data and knowledge before placing his bets
Dr Nick is a father-of-two who studied medicine and worked as a GP thirty years ago, before turning to algorithmic trading.
He doesn’t bet big money, preferring to place many small bets to make his fortune, and treats the racing industry simply as a financial market.
His business implements extensive research before placing bets, with his computer generated models allowing for thousands of bets to be placed every second.
Dr Nick announced that his business is pulling out of trading in fixed odds markets, where he currently gambles more than $40million per year.
Dr Nick doesn’t place big bets to make his fortune, preferring to trade smaller amounts, with his computer models able to place thousands of bets per second. Pictured: Invincibella ridden by Tim Clark (centre) takes the lead to win The Star Mile race at Royal Randwick in 2017
‘It is inefficient and it’s a small part of what we do,’ Dr Nick said.
Dr Nick hasn’t attended a race day since 2005, and has no deep love of the sport, preferring to keep a low profile with his trades compared to the flashy characters the racing world is known for.
His move away from fixed odds markets stems from a new focus for Dr Nick, where he is looking to use his money to ‘make a philanthropic difference to the planet.’
Dr Nick announced his business is pulling out of the fixed odds market, saying that placing his bets there was ‘inefficient’