Australia’s biggest anonymous gambler on horse, Dr Nick, has exited the Aussie horse racing industry, citing unfavorable betting conditions as the reason why.
Dr Nick Wipes 6-per-cent of Australian Racing Turnover
The Australian racing industry may have lost a man worth at least $100 million in total bets over the years. One Dr Nick, an anonymous punter in Australia, won’t be placing any more bets, after the man, originally from Adelaide, has reportedly moved to the Channel Islands.
According to reports, Dr Nick has protested against the steep tax levies imposed on the industry forcing the hand of sportsbooks and leading to diminishing rewards and lack of sufficient betting opportunities.
Dr Nick has been responsible for estimated 6% of the total betting turnover every year so far, but he might miss out in the years to come. According to the well-heeled sports bettor and his syndicate, sportsbooks are no longer able to offer favorable odds.
The majority of fellow punters (a term describing sports bettor in Australia) are no longer able to turn a profit off the available lines and fixed odds betting is simply unprofitable, Dr Nick has argued.
A Man in the Shadows – Who’s Dr Nick?
Far more impressive than the sums Dr Nick is wagering yearly is the identity of the man who is still anonymous. How come an individual can move several millions on various bets for years and never leave a trace of his true identity?
Dr Nick is what is known as a whale in the sports betting industry. He has been using a lot of cash to sway the odds through the use of trusted agents. Dr Nick and his confidents have been able to influence sportsbook and betting exchange odds, sending odds plummeting from $17 originally down to $7.
What is known about the man is that he has been betting for the pats 20 years and he has been working hard on upholding his anonymity, possibly including family members to ward against any risks.
Australia, One of Many Markets
Based on reports, Australia is just one of the markets where Dr Nick’s syndicate operates with betting operations already progressing throughout Asia, the United States and Europe.
Dr Nick is also in an all-out competition with Zeljko Ranogajec, a prominent punter who may be the biggest name in horse betting.
Yet, the real problem is that millions worth of turnover will now leave the Australian market at the behest of Dr Nick. The ramifications are yet to be gauged.