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.

Well, this is certainly interesting! The Marist College Institute of Public Opinion recently did a survey of 2,243 people that included 1,006 of what they call Millennials, AKA Generation Y, AKA 18 to 29 year olds, AKA Us Yoofs. The participants were asked questions relating to ideology, religious practices and belief, and it seems that the Gen Y respondents were a pretty liberal lot.

Now, the survey had a lot of findings, including that Gen Y is as committed to philanthropy as any other generation, but we’re here to talk about gambling, aren’t we? Well, it turns out that the majority of Gen Y surveyed thought gambling wasn’t a moral issue. The kicker? Many of the respondents from other generations said the same thing.

I reckon that seeing young poker players like Annette Obrestad, Tom Dwan, and Joe Cada being so successful is probably part of the reason Gen Y are more willing to accept gambling as a healthy leisure activity. They are young, successful players who are among the best in the world. It would be hard for liberal Gen Y’s to think that gambling is wrong when looking at these young millionaires!

It’s good to see a shift from the old way of thinking about gambling, as it is just a bit of harmless fun for the vast majority of players. Playing a few rounds of craps within your limits or spending your time perfecting your poker game is just another way to relax. That a lot of other young people also see it that way points to a bright future for those gamblers who have to deal with politicians harping on in a cheap grab for more votes.

I'm thinking it'll be this with horses.

There are rumors that Michael Mann – famed director and an important part of the legendary Miami Vice – is attached to a pilot for a drama set in the exciting world of horse racing. It’s called “Luck” and it’ll be made for HBO, which usually guarantees 3 things: sex, violence and Machiavellian intrigues.

David Milch is writing it, with Mann to direct the pilot, so I really hope this is picked up. The question is: Will it get more people interested in horse racing, or will they assume that going to the racetrack means tawdry affairs and stylish violence? …Actually, I bet people would find that a compelling enough reason to start following horse racing.

If you already have a taste for horse betting, then try out BetUS or one of our recommended racebooks on our racing pages.