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.

Everyone’s favorite racecar driver is back in the news, generating buzz over her rumored move to NASCAR.  She sparked these rumors some time ago by informally meeting with several teams after her Indy contract with Andretti Green Racing expired.

Now the rumor mill is in overdrive as a two-year deal with Dale Earnheardt Jr’s JR Motorsports team is likely in the works.  Though ESPN reported that the two were close to an agreement, Earnheardt is saying that there are still plenty of other teams interested in her driving skills.  He also asserts that her presence would be a plus, saying, “She will be good for NASCAR, whoever gets her.”

If a deal is reached, Patrick will be racing for both Indy and NASCAR as she has already signed a three-year contract extension with AGR.  The official announcement is expected to come in December.  Though there has been no confirmation, many are suspecting that she will drive her IRL IndyCar full time and drive a Nationwide car when IRL isn’t racing.

She is the only woman to win an IndyCar race, and her appeal is a sponsor’s dream.  All racing fans will be waiting with baited breath for a conclusion to this story.  In the meantime, have a little fun at BetUS as they are offering some sporting specials on Danica Patrick’s career in 2010.  These include:

Will Patrick win a Nationwide Race?
Yes in 2010: +160
No, not in 2010: -220

Will Patrick’s best finish come in
Nationwide Series: +200
IndyCar Series: -160

Patrick joins NASCAR Sprint Series in 2010
Yes: +250
No: -400

There are a few others on offer, so get to BetUS to make your bets on Danica Patrick’s NASCAR future.

October/November really is a great time of year if you like to have a bet.

The NFL season is in full swing, so too is NCAA Football, where there’s real money to be made from sentimental fans betting on their alma mater.

My other favorite sport is just about to fire up as well, with the NBA season about to tip off and the Lakers favorites to win it all again with the online bookies.

And poker’s biggest event, the World Series of Poker, is down the final table, known as the ‘November Nine’. Full Tilt’s Phil Ivey is third favorite at 4-1, behind chipleaders Darvin Moon and Eric Buchman. Ivey will be doing well to win the thing considering he is starting with some serious stack envy. Bodog has all the latest WSOP odds.

And one of the world’s biggest horse races is also coming up on the first Tuesday in November – The Melbourne Cup. It stops the whole country of Australia, but the rest of the planet is also becoming more and more intrigued by this great race and you should be too as there’s always great odds to be had as the horses run over two miles and it is often anybody’s race at the final turn.

If you’re in the northern hemisphere things are probably starting to get a little cool now, but if you’re in the tropics like me, things are just starting to heat up. It’s my favorite time of year… NFL… NBA… warm weather… more people indoors up north and playing poker… it’s all good!

Don’t hate me cause you ain’t me!