Mysterious Australian gambler who bets $100MILLION a year from a remote island pulls out of the local racing market – saying new taxes make it too hard to turn a profit
- A gambling mastermind known as Dr Nick has pulled out of Australian racing
- The punter ran a syndicate that placed over $100 million worth of bets a year
- Organisation is claimed to have injected six per cent of turnover into market
- He cited taxes and levies as the reason for his exit from the Aussie market
An anonymous gambling mastermind who places an estimated $100million worth of bets each year has shut down his mystery syndicate.
‘Dr Nick’ officially pulled the plug on his family’s empire on Wednesday. His syndicate is claimed to have injected six per cent of turnover into the market each year.
The unknown man lives in the Channel Islands off the coast of France, but is rumoured to originally come from Adelaide.
The Australian newspaper reported that the wealthy gambler has blamed taxes and levies for his exit from the racing industry.
Mystery man: Few know the identity of the anonymous punter ‘Dr Nick’ whose organisation injects an estimated six per cent of turnover into the market each year
The anonymous Australian mastermind Dr Nick pulled the plug on his extraordinarily successful gambling syndicate on Wednesday as percentages no longer favoured the punter
Dr Nick’s local employees were reportedly made redundant this week.
A new consumption tax was cited as one of the reasons why the business closed its doors.
Bookmakers have been hit with a new levy which is being passed on to consumers, leading to punters getting worse odds.
Dr Nick was known to bet several million dollars a day.
He had employed a team of trusted agents to organise plunges with service providers as little as ten minutes before a race.
This handiwork affected TAB, bookmakers and even the betting exchange, meaning his interventions could drastically change odds for horses in the last few minutes before a race.
Dr Nick’s syndicate had worked with a highly successful rating system for about twenty years which allowed them to influence the odds minutes before a race started
The syndicate developed this extraordinarily successful rating system about 20 years ago and allowed Dr Nick to influence the races.
All of their betting was done through agents and very few knew Dr Nick’s true identity.
Bookmaker Rob Waterhouse said Dr Nick employed a ‘vast staff’ that included ‘everyone in smart in racing.
‘I imagine all of those people are looking for jobs now,’ Mr Waterhouse told RaceNet this week.
Mr Waterhouse said he expected Dr Nick’s departure will affect race prize money.