There is a bit of talk at the moment over Australian Zeljko Ranogajec and the extent of his gambling operations. With bookmakers all over the world reporting substantial amounts of wagers from Ranogajec, including up to 6 to 8 per cent of Tabcorp’s annual betting turnover, it has been estimated that Ranogajec may be betting more than $1 billion per year.

Now, we can’t be sure just how much he bets on a yearly basis, as he obviously keeps things secretive so that his bets don’t lose value with other punters following his lead. Regardless of the exact amount, it’s certainly substantially more than anyone else wagers, and Ranogajec’s protestations that he really doesn’t wager all that much can’t be taken too seriously.

The amount he bets isn’t the most interesting thing about his operation, though. What I find really intriguing is the way he goes about making a fortune from gambling. First of all, he has a massive staff that analyzes gambling opportunities from all over the world in order to find odds that are inconsistent with the probability of winning. Finding betting odds that are favorable to the bettor is standard for a successful gambler, but Ranogajec’s team are also able to place bets as late as possible thanks to direct connections to betting pools. This stops other gamblers from following their picks, so that the odds aren’t disastrously shortened before betting has closed. Despite the huge amounts that Ranogajec bets, his profit margins are apparently only single digits – which still means he’s making millions of dollars, thanks to the size of his bankroll and the bets being made!

You don’t need to have billions of dollars in capital and a team of analysts to turn a profit on sports betting, but it certainly doesn’t hurt. Successful betting is a lot of work, and it requires incredible self-control. You have to manage your bankroll very strictly and need be an expert on the bookmaker’s craft. If you want to become a better punter, then it is worthwhile checking out a betting exchange where you can set your own odds, or take the odds set by other users. It’s a really interesting system that can greatly reward players who take the time to research betting markets, so give it a try if you are thinking of going professional with your sports or horse racing betting.