What Do Pro Gamblers Do Differently?

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Gambling is often seen as a game of luck, but professional gamblers know that success in betting is more about skill, strategy, and discipline than mere chance. While casual gamblers rely on intuition and luck, pros use calculated risks, bankroll management, and data analysis to gain an edge. It's like visiting https://au.crazyvegas.com/online-pokies/ for a chance to enjoy the slots. A perfect example of this transformation is Tony Bloom, who went from an average gambler to one of the most successful sports bettors and a billionaire.

So, what separates professional gamblers from the rest?

1. They Rely on Data and Statistics 

Most casual gamblers place bets based on hunches, emotions, or gut feelings. Professional gamblers, on the other hand, rely on in-depth statistical analysis. They use data-driven methods, such as probability calculations and modeling, to make informed decisions.

Take sports betting, for example. A casual bettor may bet on their favorite team, while a pro gambler analyzes team performance, player injuries, weather conditions, and historical data before making a bet. The key is understanding the probability of an outcome rather than simply guessing. 

2. They Manage Their Bankroll Effectively 

One of the biggest reasons casual gamblers fail is poor money management. Many bet too much in one go, chase losses, or fail to set limits. Professional gamblers, however, are extremely disciplined with their bankrolls.

A common strategy used by pros is the Kelly Criterion, a formula that helps determine the optimal bet size based on perceived value and risk. This ensures they don’t bet too much on any single wager, reducing the chances of going broke due to short-term variance. 

3. They Avoid Emotional Betting 

Most gamblers let emotions control their decisions—whether it’s overconfidence after a big win or frustration after a loss. This leads to reckless betting, chasing losses, and ignoring rational analysis.

Professional gamblers, however, treat gambling like a business. They detach emotions from their decisions and stick to their strategies, even after a losing streak. They understand that variance is part of the game, and short-term losses don’t necessarily mean their strategy is wrong. 

4. They Specialize in a Niche 

Rather than betting on everything, professional gamblers focus on a specific area where they can develop an edge. Some specialize in poker, some in horse racing, and others in sports betting.

Tony Bloom is a perfect example of this specialization. While many casual gamblers jump from game to game, Bloom mastered football betting. His ability to analyze odds and patterns led him to build one of the world’s most sophisticated betting syndicates, StarLizard. 

5. They Use Advanced Betting Models 

Professional gamblers don’t rely on intuition; they use mathematical models to predict outcomes. They build complex algorithms that factor in thousands of variables to calculate the true odds of an event happening. If they find odds that are mispriced by bookmakers, they capitalize on them.

Tony Bloom’s company, StarLizard, employs data scientists and analysts who crunch numbers daily to gain an edge in football betting. By leveraging big data and analytics, Bloom turned sports betting into a science rather than a gamble. 

6. They Treat Gambling Like a Business

A major difference between casual gamblers and professionals is mindset. For pros, gambling is not entertainment—it’s a business. They keep detailed records of their bets, analyze their performance, and constantly refine their strategies.

Tony Bloom applied this business-like approach to sports betting, which allowed him to scale up his operations. He eventually used his gambling expertise to invest in Brighton & Hove Albion, a football club he transformed into a Premier League team. His success in betting fueled his financial empire, turning him into a billionaire. 

Conclusion

Professional gamblers don’t rely on luck—they rely on skill, discipline, and a deep understanding of probability. They manage their bankrolls carefully, use data-driven strategies, avoid emotional betting, and specialize in a niche where they have an edge.

Tony Bloom is a perfect example of how someone can go from being an ordinary gambler to one of the most successful figures in sports betting. His journey from a young poker and betting enthusiast to a billionaire sports investor proves that gambling, when done professionally, is less about chance and more about calculated decisions.

The key takeaway? If you want to be a successful gambler, treat it like a business, not a hobby.

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How Is Tony Bloom Such A Good Gambler?

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Who hasn't heard of the most astonishing gambler in the world? 

The Lizard. 

A self-made billionaire by the age of 55. Bright-born and bred, he's the man of the moment with his finger in many pies. Not only is he popular from a gambling perspective but he is super popular with the general public. The world hasn't heard a bad word about Tony 'The Lizard' Bloom. 

But how is Bloom such a good gambler? 

If you wonder whether a billionaire gambler is a creation of nature or nurture (clearly both because you can't escape your biology or environment) it is worth noting that Bloom detailed his early gambling experience as being remarkably unsuccessful to the point of guessing. 

We've all been there. 

This factor tells us something very interesting - if not unsurprising - he learned how to gamble successfully. 

It disappoints me how few gamblers progress as if lazy bystanders losing cash for fun. Thankfully, not everyone follows this maxim but many do and it really is something which can be improved upon. 

Bloom's interest in gambling came from his grandfather who enjoyed a night at the casino and owned greyhounds. 

Tony frequented the local arcades to play the slots (more like one-armed bandits back in the late 70s) and even made a fake ID to place bets at the bookmakers. However, these formative years told him something - he wasn't a very good gambler. Clearly a very intelligent man. He had the wisdom to understands knowledge is not only powerful but something to be protected from prying eyes. 

This poker player (who has won over $3.5 million just for fun) is known to keep his cards close to his chest and that has been the key to his successful football betting consultancy, Starlizard.  

Like many successful gamblers, Bloom gained a degree in mathematics. After, he worked for over two years at accountants Ernst & Young. While he beavered away, he focused on improving his knowledge of sports and spread betting. 

By the end of this period (1993) he had won £20,000. 

For a short time, he worked in the City as an options trader. However, this was just a six-month stint. 

He said he was winning more money betting at home!

Whether Bloom's employment was by luck or design, he was on a big learning curve, improving his knowledge and acquisition of skills.  

From 1993 - 97, he honed his skills as a professional gambler. He bet aggressively on cricket and football using spread betting platforms, a form of gambling that can be very volatile. He recalled losing £5000 on a cricket match which felt like a triumph considering it could have swallowed up his entire bank. He said: 'I believe in betting aggressively, and, occasionally, to win big, you have to risk losing.'    

Clearly, this is a very insightful quote for the man would soon be betting billions. This understanding would serve him well with Starlizard.  

Bloom's pivotal career moment came when he received a phone call from, of all people, bookmaker, Victor Chandler. Both Bloom and Chandler would learn and greatly benefit from the bookmaker dipping his toe into the Asian handicapping betting market. Primarily the football betting markets. You can see the link, hey. I'm not sure if Bloom had any experience of the Asian handicapping platform but he probably did (making good money) for Chandler to ask for his help. If not, he was a very fortuitous. Even Bloom would agree we can all do with a stroke of luck. 

Bloom spent six months in Bangkok learning about Asian handicapping. He bet for himself and Chandler, before a further three years at Chandler's bookmaking headquarters at Gibraltar. 

Clearly, wishing to bring Asian handicapping to the UK punter, he started his own bookmakers Premierbet. However, this was short lived and closed after a year. Basically, selling it for a nominal sum of £1M. 

There's little doubt the experience of Asian handicap markets and bookmaking made him appreciate something very important. He could make a lot more money using his knowledge and that he needed to protect it from prying eyes. Also, why bet with your own money when you can bet with other peoples, gain a big commision on winnings, and plough some of those profits into Starlizard.

The company website says it best: 

Data. 

We are data specialists. 

We consume information on every aspect of sporting fixtures to provide unparalleled view of what is happening on, and off, the pitch. We combine cutting-edge analytics with our expertise and passion for sport to produce world leading match predictions. We are at the heart of an evolving, dynamic, global market. Our bespoke platforms enable us to execute high frequency orders around the clock. 

So what have we learned about Tony Bloom? How did he become such a good gambler?

It was a journey of both learning and fortuitous events. But, ultimately, he continued to learn and progress even when many would have stopped, satisfied with their lot. 

Starzard say: 'We answer the most interesting questions in sport.' 

Starlizard was founded in 2006. A sports betting consultancy, primarily football, providing data-driven insights to high-stakes gamblers. 

The biggest betting operation in the world. 

From a gambler who started off guessing to a billionaire. 

The word is learning. Ultimately knowledge.

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Harry Findlay: Tempting Fate and the Costly Folly of the Rugby Clock

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Time waits for no man.

Not even Harry Findlay. 

Few names in the gambling world stir up as much fascination and controversy as Harry Findlay, the legendary professional punter who once declared there was value betting odds-on and has lived his life with a devil-may-care boldness that has made him both revered and reviled. Known for staking jaw-dropping sums on horse racing, tennis, and rugby, Findlay's story is one of dramatic highs and crushing lows. But of all his memorable gambles, one tale sticks out for its strange symbolism and sense of destiny gone awry — his monumental loss on a rugby match, which he himself linked, with half-serious conviction, to the purchase of a clock shaped like a rugby ball.

This wasn’t just a loss. This was a life-altering financial hit. Findlay staked everything on New Zealand — the mighty All Blacks — winning the 2007 Rugby World Cup. He saw it as a sure thing. The All Blacks were dominant, fit, and in form. Findlay, ever the audacious gambler, wagered around £2 million on their victory — spread over various bets. He had no hedges, no cover, and no plan B. This was full commitment, a belief not just in rugby logic, but in sporting destiny.

But destiny had other plans.

In the quarter-final, the All Blacks crashed out of the tournament at the hands of France, losing 20-18 in one of the most shocking upsets in Rugby World Cup history. For most fans, it was a huge surprise. For Harry Findlay, it was a financial and emotional apocalypse.

What’s remarkable about this story isn’t just the size of the loss or the shock of the defeat. It’s what Findlay himself pointed to as the moment he “tempted fate” — the moment he believes the gods of chance began sharpening their knives. In the weeks leading up to the tournament, he purchased a clock in the shape of a rugby ball, part of a goodie bag for those he invited to watch the match. To the uninitiated, this might seem trivial, even charming — a fan's whim, a quirky decoration.

But for Findlay, the symbolism was deadly serious. That rugby-shaped clock became an omen. In his autobiography and interviews since, Findlay has reflected on how the purchase went against his deeply rooted superstition and gambling instincts. He had always believed in respecting luck, never counting winnings before they arrived, and certainly never celebrating a result before the final whistle.

Buying the clock wasn’t just a decorative decision — it was a premature celebration, a totem of assumed victory. It was as if, buying those innocent looking clocks, he declared the tournament over before it had even begun. He had made a symbolic bet — one that showed overconfidence, arrogance even — and in the world of high-stakes gambling, that’s often when fate strikes hardest.

In a way, the clocks became a monument to hubris. It was no longer about rugby tactics or form. It was about belief systems, gambling psychology, and the delicate line between confidence and recklessness. The story has taken on near-mythic proportions in betting circles. It’s the kind of tale that gets passed around as a cautionary parable, where the small act — buying a novelty clock — foreshadows a fall of epic proportions.

For Findlay, the financial damage was enormous, but it was the emotional and philosophical hit that lingered. The rugby ball shaped clock became a symbol not just of one bad bet, but of what happens when a gambler loses sight of the forces they once respected. It was a reminder that luck, form, and fate are not to be taken for granted — and that the moment you start believing in guaranteed outcomes is the moment you're most vulnerable.

Since then, Findlay has remained active in the betting world, never quite losing his love for the thrill. But the rugby clock incident remains a touchstone in his life — the day he tempted fate and paid the price. It’s a story that’s as much about belief, superstition, and psychological fragility as it is about rugby or betting.

As for the clock itself? Perhaps he smashed it. Whether in anger, shame, or an attempt to reverse the jinx, it no longer ticks. But the memory of that ticking time bomb of fate — and what it cost him — lives on in the lore of one of Britain’s boldest gamblers. 

What made the story even more ironic was the fact that horse trainer Paul Nicholls famously went back to the room to get the rugby clock!

Perhaps he is the only one who didn't lose his shirt.

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Betting on Brilliance: Tony Bloom’s Analytical Approach to Gambling Success

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In a world where luck is often mistaken for strategy, Tony Bloom stands out like a quietly humming supercomputer in a room full of slot machines. For Bloom, gambling has never been about chance — it’s always been about edge. And he’s spent decades building his around one fundamental principle: brilliance through analysis.

Bloom’s gambling journey doesn’t fit the usual rags-to-riches, gut-feel fairy tale. It’s more a methodical climb, built on mathematics, logic, and the cold, hard comfort of statistical advantage. Raised in Brighton, Bloom started young — drawn to the patterns in fruit machines and the intrigue of horse racing form guides. A degree in mathematics at the University of Manchester sharpened his ability to recognize systems, not just stories. And soon, he realized something that would become his creed: there’s always a way to outthink the odds — if you have the data.

That idea found its most potent form in Starlizard, the betting consultancy he founded in the 2000s. To call Starlizard a "gambling operation" is like calling NASA a “plane club.” The firm employs over 160 people — data scientists, analysts, coders — all focused on modeling football matches in almost absurd detail. They account for player injuries, referee bias, weather conditions, fatigue cycles, travel schedules, and even crowd dynamics. It’s not a betting firm. It’s a forecasting machine.

And it works. While most betting markets thrive on public perception and emotional wagering, Starlizard works in the margins — finding inefficiencies in odds set by bookmakers and exploiting them with machine-like precision. These aren’t weekend punts. These are multimillion-pound syndicate plays, moved only when the edge is clear and the risk is calculated.

What makes Bloom fascinating isn’t just his success — it’s the mindset behind it. He doesn’t rely on superstition or gut instinct. He embraces uncertainty, respects variance, and plays the long game. His approach is deeply Bayesian, always updating beliefs with new information, always adjusting course based on fresh data. It’s gambling as a science, not a vice.

That mindset carried seamlessly into football ownership. When Bloom took over Brighton & Hove Albion in 2009, he brought his analytical edge to the boardroom. Under his watch, the club built one of the most advanced scouting and data recruitment systems in Europe. Players like Moisés Caicedo, Kaoru Mitoma, and Alexis Mac Allister weren’t discovered by accident — they were found by process.

While other clubs chased shiny names and Instagram followers, Brighton chased value. And in a football world where even billionaires get outbid, Bloom's brain has been the club’s best asset. Brighton doesn’t buy stars. They make them — then sell them at a profit that would make most hedge funds blush.

But even more interesting is how Bloom’s ethos rejects the adrenaline-fueled chaos most people associate with betting. He doesn’t seek volatility. He seeks consistency. Starlizard rarely bets on marquee matches — too much public attention, not enough edge. Brighton doesn’t chase quick fixes — it builds infrastructure, invests in youth, and plays a style that mirrors the man behind the scenes: calm, intelligent, and relentlessly efficient.

There’s a quiet poetry to how Bloom operates. No grandstanding. No public tantrums. Just numbers, logic, and a belief that if you do the hard work behind the scenes, the results will eventually show up on the scoreboard — or the spreadsheet..... Tony Bloom may live in a world of gambling, but he doesn’t gamble on guesses. He gambles on brilliance. And more often than not, brilliance pays.

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Book Review: Gambling For Life by Harry Findlay

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Harry Findlay’s Gambling For Life is an exhilarating deep dive into the world of high-stakes betting, chronicling the triumphs and downfalls of one of the most fearless gamblers of our time. This autobiography offers readers an unfiltered look at Findlay’s journey, making it a must-read for anyone interested in sports betting, risk-taking, or larger-than-life personalities.

A Story of Highs and Lows

Findlay’s story is nothing short of riveting. Unlike many professional gamblers who focus solely on calculated, risk-averse strategies, Findlay approaches betting with an unmatched level of confidence and passion. He openly shares his biggest wins, such as his triumphs in horse racing and rugby betting, but also doesn’t shy away from detailing his devastating losses that cost him his fortune. This raw honesty makes the book not just an exciting read but also a cautionary tale about the volatility of gambling.

An Unfiltered Look into the Gambling World

One of the book’s greatest strengths is its candidness. Findlay doesn’t sugarcoat the realities of professional gambling. He discusses his strategies, experiences with betting exchanges, and run-ins with bookmakers, giving readers an inside perspective on the highs and lows of the industry. His ban from Betfair, which he argues was unjust, adds an extra layer of controversy that will intrigue both casual readers and industry insiders.

Findlay’s Passion for Sports

Unlike many gamblers who rely purely on statistical analysis, Findlay is deeply passionate about the sports he bets on. His love for horse racing and rugby shines through in the book, making it clear that betting is more than just a financial pursuit for him—it’s a way of life. This emotional connection makes his story compelling and sets him apart from other professional bettors who often approach gambling with a more detached mindset.

Engaging Writing Style

Findlay’s storytelling is engaging and fast-paced, much like the betting world he inhabits. His conversational tone and straightforward approach make the book accessible even to those unfamiliar with gambling. His humor, charisma, and no-nonsense attitude shine through, making the reader feel as though they are listening to him recount his adventures firsthand.

 A Lesson in Risk and Reward

At its core, Gambling For Life is about the nature of risk—how it can lead to extraordinary highs and crushing lows. Findlay’s life serves as both an inspiration and a warning. His unshakable belief in his system and his ability to bounce back from losses offer valuable insights for those willing to take risks, whether in gambling, business, or life.

Final Verdict

For those interested in the world of professional gambling, Gambling For Life is an essential read. It’s an entertaining, brutally honest, and insightful book that captures the essence of what it means to live life on the edge. Whether you admire Findlay’s fearless approach or view his story as a cautionary tale, there’s no denying that his journey is one of the most fascinating in modern betting history. Highly recommended for sports fans, risk-takers, and anyone who enjoys a compelling real-life story. 

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The Many Approaches of Professional Horse Racing Gamblers

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The notion that all professional gamblers in horse racing employ identical strategies is a misconception. In reality, these individuals utilize a diverse array of approaches, each tailored to their unique perspectives and experiences. This diversity underscores the complexity of the sport and the myriad ways success can be achieved.

Phil Bull: 

The Pioneer of Time-Based Analysis Phil Bull, born in 1910 in West Yorkshire, England, was a mathematician who transitioned into professional gambling. He is best known for founding Timeform in 1948, a company that revolutionized horse racing analysis by introducing time-based performance ratings. Bull's methodology involved awarding a performance figure to each individual performance by a horse, allowing for a more objective assessment of racing form. This system became an authoritative measure of racehorse performance in Britain and beyond. Bull's innovative approach not only enhanced his own betting success but also provided invaluable insights to the broader racing community. 

Alex Bird: Master of Photo Finishes:

Alex Bird, a legendary figure in British horse racing, was renowned for his uncanny ability to identify undervalued horses and exploit bookmakers' odds. 

His expertise in this niche aspect of racing allowed him to capitalize on opportunities that others might have overlooked. Bird's approach exemplifies how focusing on specific race elements can lead to consistent success.

Harry Findlay: The High-Stakes Punter:

Harry Findlay is an outspoken professional gambler known for his high-stakes betting and fearless approach.

His willingness to place large bets, even on odds-on favorites, showcases a bold strategy that contrasts with more conservative approaches. Findlay's career highlights the potential rewards and risks associated with high-stakes gambling.

Dave Nevison: The Value Seeker:

Dave Nevison, author of "A Bloody Good Winner," is a professional gambler who emphasizes the importance of finding value in betting. He often bets on multiple horses in a single race, aiming to identify undervalued runners that offer favorable odds. This strategy requires meticulous analysis and a keen eye for discrepancies in the betting market. Nevison's approach demonstrates that success can be found by looking beyond the obvious choices and seeking out opportunities where the potential returns outweigh the risks.

Alan Potts: The Data Analyst:

Alan Potts has made a living as a professional gambler, focusing mainly on National Hunt (jump) racing. He is known for his in-depth understanding of the sport and its many nuances, from track conditions to horse behavior. Potts emphasizes the importance of detailed data analysis and understanding the intricacies of each race. His approach highlights how a deep dive into statistics and form can lead to informed betting decisions. 

Zeljko Ranogajec: The Algorithmic Savant:

Australian horse racing expert Zeljko Ranogajec is said to have made significant amounts through his edge-based method that looked for small margins of just 1-2% on Aussie racing but betting huge sums each time. 

His approach underscores the potential of leveraging technology and data to gain an edge in betting markets.

Common Traits Among Diverse Strategies:

• While their methodologies differ, successful professional gamblers often share certain traits:

• Discipline: Maintaining a consistent approach and avoiding impulsive decisions.

• Analytical Skills: Assessing data and identifying patterns that others may overlook.

• Adaptability: Adjusting strategies in response to new information or changing conditions.

• Risk Management: Understanding the importance of managing one's bankroll and not overextending on any single bet.

These commonalities suggest that while the paths to success in horse racing gambling are varied, they are underpinned by a foundation of careful planning, analysis, and psychological fortitude.

Conclusion:

The diversity in approaches among professional horse racing gamblers dispels the myth of a one-size-fits-all strategy. From Phil Bull's time-based analysis to Alex Bird's focus on photo finishes, Harry Findlay's high-stakes betting, Dave Nevison's value-seeking, Alan Potts's data-driven methods, and Zeljko Ranogajec's algorithmic strategies, each gambler has carved out a unique path to success. This variety not only enriches the tapestry of horse racing but also offers valuable lessons to those looking to understand or participate in the world of professional gambling.

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What Happened to Nick Mordin?

I received an email a long time ago asking this very question. 

Sadly, my reply was: ''I have no idea.''

The reason why I was contacted is because my twin brother, Tony, run a study regarding the significance of pattern-race entries within two-year-old horse racing. 

In fact, the data was pieced together into a story by Mordin for his popular Systems, detailed in the Weekender publication. 

The article was titled: In a Class of their Own: How to Spot & Back Potential Top-Notch Two-year-olds. I can't remember the date of the publication, but it must have been a long time ago. [I found a link to the article on High Class Equine dated 14th, May 1994].  

This research was groundbreaking and it was the first study of its kind in the world. 

In fact, I have had many people remark about its publication years later and still holds a lot of interest and clout to this day. 

My brother and I still use this information and we detail some aspects for free via our Group Horse Subscription + Easy Professional Gambler Mailing Series. (100% Free).

Nick Mordin is a man who was much respected in the racing world finding angles and writing a number of publications to help readers get ahead of the game. 

Betting for a Living (1992)

The Winning Look (1994)

Mordin on Time (1996) 

Winning Without Thinking (2002)

All were very well received and I have a couple in my personal collection. 

I notice a few threads on Betfair Community musing about his work. 

I do believe Mordin went to live in the United States although I couldn't confirm this as fact or fiction.  

Many punters will remember he was criticised by Harry Findlay about the chances of Denman winning the Gold Cup. At least, I think that's what it was about as the old grey matter isn't quite what it used to be. 

Anyway, wherever you are, Nick, I hope life is treating you well and my brother often mentions the phone conversation he had with you back in the day. 

All good stuff. 

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Book Review: Queen of the Turf - The Dorothy Paget Story by Quintin Gilbey

After reading about Miss Paget, I thought it wise to purchase a book written by someone who lived through the same era. 

Quintin Gilbey, a British author known for his works on horse racing and notable personalities, asked her a question at the races and thinking she hadn't heard him repeated it three times with increasing volume. She gave him a blank stare and walked past with utter disdain. 

These book reviews bring life to an old tome and help inform new readers (like myself) who have only seen snippets about one of the most famous race horse owners, gamblers and eccentrics.  

This edition is anything but new. However, it comes literally from the horse's mouth.  

My interest in The Hon. Dorothy Paget was inspired by my most recent article: Dorothy Paget: The Biggest Gambler to Walk the Turf. 

I did notice Declan Colley & Graham Sharpe published a book about D.P. in 2017. 

However, I thought it was only right and  proper to go with the original by Quintin Gilbey published by Arthur Barker Limited, London, a subsidiary of Weidenfeld (Publishers) Limited. 

This first edition was published in 1973. 

Priced £2.25 (in UK only). 

I purchased this copy from Claremont Books and Print for £14.98. It's in very good condition so it should hold its value.

I love the smell of these old books. 

I do enjoy these old publications much more than modern versions. To think the book is 52-years old and near immaculate. Also, we have the opportunity to consider life from those days. For example, back in the day when Paget's wonder horse, Golden Miller won 5 successive Gold Cups at the Cheltenham Festival the win prize money was £670. The race was called a £1000 plate with the rest of the prize money divided between the placed horses. 

When you consider the Grand National was worth over £7,000 it shows its popularity and why so many owners and trainers headed to Aintree. D.P. was no exception and tasted success in 1934 when Golden Miller won the Gold Cup and National. The only horse to ever achieve this feat. 

It was said Golden Miller hated Aintree and when he made his return in 1935 he unseated his rider. Many considered the jockey being unseated with some skepticism. Basil Briscoe, the trainer, and Paget had words about the jockey and a short time later removed them from his stable. 

It was said both were as stubborn as each other. 

I'm updating this post incrementally. I'm presently at chapter 7. There's no doubt D.P. did things here own way and even in the war years when racing was limited or non existent she kept her horses in trainer if not multiple entries in races. She said it was important for morale and for the bloodlines of stallions. This was met with differing opinions but she was one of few owners who almost single handed kept racing going.  

       

More to come...

 

Dorothy Paget: The Biggest Gambler to Walk the Turf

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Dorothy Paget was a gambler like no other. 

If you went back to the 1940s, there were a couple of woman gamblers who would make J.P.McManus look like a child betting penny sweets. Well, perhaps not quite to that extent but you understand hyperbole. 

Paget was a beast. 

She was a wealthy woman who loved a good bet. With a wealthy family, she didn't need to worry about cash whether it went south, west, east or north. There wasn't an issue of going into the red. Even when she spent millions on bloodstock and buying thoroughbred horses. In fact, she had a stud in Ireland that she didn't even bother to visit. 

Paget didn't live by anyone's rules. She was eccentric to the point of being volatile. She slept all day and woke at night. Her favourite time to phone her horse trainers. When you pay the bills you expect your staff to go the extra mile. She simply wanted to hear the latest gallop reports at 2am.

Basil Briscoe, who trained her wonder horse Golden Miller was her favourite victim to torment. Winning the Cheltenham Gold Cup 5 times (1932 - 1936) wasn't enough. Doing the double of the Aintree Grand National and Gold Cup in the same year (1934) didn't pass muster. Not when the titan failed to win the following year. 

Briscoe referred to Paget saying horses were easier to train. 

However, from the 18 trainers she had over the years, she was indifferent to their wants or needs. She paid the bills and had expectations. Strangely, she called her employees by colours rather than their names.  

She would use every colour under the sun except for green which she despised.

Fulke Walwyn thought he was in her good books when 5 of her horses won on the card. She screamed at him for losing the sixth.  

Paget loved to bet. She didn't bet a few quid. The equivalent of £320,000 was a normal day at the office. Clearly, she bet to win but with her wealth she wasn't overly fussed whatever happened. William Hill had a few run ins with her. In fact, bookies we so invested in taking her bets that they'd employ someone to do a night shift. She was worth £100M and didn't flinch about betting £4M at a time. 

Paget was a leading Flat and National Hunt owner and even had an Epsom Derby winner, Straight Deal (1943). 

She was as famous as royalty. 

For all her attitude, Paget had a generous side and gave to charities. However, she didn't suffer fools and you got the impression she thought most men were 24 carat fools. 

Paget lived a life to excess. The night owl who loved to gamble and did what she wanted. 

She passed away in 1960 at the age of 54. 

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Battle of the Early Betting Exchanges

These days, betting exchanges are a familiar to all gamblers. 

However, the betting landscape was transformed with the creation of a trio of betting exchanges who battled to become top dog. All this happened in the late 1990s, and the first time most gamblers new about betting exchange platforms came with Betfair and Flutter.com. 

Andrew Black, an ex-professional gambler had the brainwave of a betting exchange after working in the stock market and impressed by the US shorts markets how investors could detail a price they wanted. Black worked on the software side of the business while Edward Wray was impressed by the concept to invest money and work on the business plan. 

Around the same time Flutter.com were working on a betting exchange. It was created by two Americans, Stamford graduates who achieved $30M investment, which compared very favourable to Betfair who struggled to find venture capitalist investment having to ask for help from friend and family to the tune of £1M. 

Flutter.com displayed their odds in a fractional format, and initially, didn't have in-running betting. Whereas Betfair used decimals. Also, the former charged less commission at 2.5% while Betfair was 4 - 5%. 

In those early days, the Flutter platform was noted as having a much better interface and more robust. It was fast and far from clunky or suffered from server problems which seemed to bog down their rival. 

It was very much a race to the front with both companies vying for publicity and custom. Andrew Black detailed they had an informer called 'Tin Man' who would email them about developments about Flutter. It seemed as though the $30M investment into Flutter was running dry at a crucial time. In a make or break gamble, Betfair pushed hard with their advantage within the market and merged with Flutter. However, it wasn't really a merger, it was a buyout and the Flutter was closed down seeing the end of the service. 

From that point, Betfair had beaten the competition. 

Around 2010, Betfair was floated on the London Stock Exchange and soon would be a £1B company. In 2016, it merged with Paddy Power to form Flutter Entertainment. 

Most punters may have forgotten or ever realised of the existence of a third betting exchange at this time. It was a creation of bookmakers who were fearful of the impact of 'the machine' as it was called by many. In fact, it was founded by rails bookmaker Stephen Little, who wasn't afraid to take a bet. He used his computer coding skills to create Betmart. After some interest, the platform struggled to find investment from the bookmaking industry. As we many betting exchanges which either come and went or disappeared because the markets lacked liquidity, Betfair proved strong. 

In fact, although it impacted markedly on bookmaker profits, especially those on-course, it was used by bookmaker far and wide. In 2006, Barry Dennis, who often featured on TV, talking the talk with John McCriririck, said he used Betfair within his business model to hedge or lay bets. This was to the sum of £15M in a single year. Far from insignificant sums of money it was a beast of a platform and in those early days liquidity was healthy. 

The downside for many on-course bookmakers was that big names such as William Hill simply used Betfair rather than trade with independent bookmakers. It made no sense not too. 

There is little doubt Betfair commissions went to exorbitant levels the Premium Charge was surely to knock a lot of these accounts on the head. Unfortunately, with competition from other exchanges such as Betdaq, Matchbook and others saw liquidity suffer across the board. It is a cause of concern for all platforms. 

There have been many fears about betting exchanges with some saying they are illegal and encourage dishonesty. However, betting exchanges have added so much to betting and they won't be doing anywhere. 

You will never stop progress and thankfully Betfair wasn't one of the hundreds of companies which were lost in the dotcom bubble. 

Pro Gambler: Andrew Black Co-founder of Betfair

Do you know the name Andrew Black? 

The title kind of gives it away, the co-found of Betfair. 

For reference, his business partner is Edward Wray. Together they transformed the betting industry creating the first online betting exchange. 

Think back to the year 2000, and the whisper of Joe Public being backer and layer alike. The bookmaking industry turned upside down by a platform which poked fun at William Hill et al declaring the death of the bookmaking industry. 

The betting exchange turned into a billion-pound business when floated on the London Stock Exchange in 2010. The company was valued at 1.4bn. Black's 15% shares worth £200M. The share price would rise substantially from £13 - £44, de-listed in 2016 when purchased by Paddy Power.    

Black was worth well over half a billion pounds. 

I remember reading one of Dave Nevison's books: A Bloody Good Winner, and him saying he wished he had come up with the idea himself. 

Everything seems easy after the event. 

But, thinking about it, the betting exchange was of its time. 

It marked the biggest change in bookmaking history and there had been plenty of them over the years. 

I didn't realise Andrew Black had been a professional gambler. It seems he dropped out of Exeter University to punt his skills in the casinos and especially enjoyed horse racing. That introduction and passion for the sport of kings manifested into a betting revolution. 

I've had a Betfair account since those early years and still have one to this day. 

Black was born in 1963, the son of a property developer and grandchild of Sir Cyril Black, a Tory MP for Wimbledon. 

Strangely, his grandfather campaigned against gambling. 

Black worked in the City of London for a derivatives business, while becoming an increasingly successful gambler. He gave up working in the city to gamble full-time. However, it wasn't lucrative enough. This led to him setting up a software business. In fact, such was its success, he gained a contract for Government Communications Headquarters (GCHQ). 

In this period, Black worked every evening on the concept of a betting exchange. 

Black's love for playing bridge led him to meet his business partner and Betfair co-founder Eward Wray who was impressed with the prototype he had programmed and invested. 

An addition £1M funds were secured from family and friends, as venture capitalists declined the offer. Betfair was launched in 2000. Its success was very much down to a similar format to financial exchanges, where larger bets could be made up of smaller transactions. 

Horse racing has always been a passion for Black and in 2009 he announced his partnership with Michael Owen and Manor House Stables. Punters will remember the magnificent Brown Panther who went on to win the St Leger (2014). 

From 2007 - 2016 he has his own horse racing blog - Bert's Blog.

To this day, he is still a professional bridge player.  

Picture: JC 2025

Professional Gambler - Alan Woods

It's intriguing to consider the man behind the story. Especially when that story is about having it right off. I must apologise for my vernacular. 

You beast. 

Alan Woods. I'm sure if you have the slightest interest in professional gamblers you have heard about the Australian mathematician. Some have regarded him as the biggest gambler in the world. If he isn't, he's up there with the big boys, the likes of Bill Benter, Tony Bloom and that secret gambler. 

Alan Woods was born in 1945, New South Wales, Australia. Sadly, he passed away in 2008 at the age of 62 in Hong Kong. 

I've been writing a few articles about the man himself. Mainly inspired by a chapter in Mike Atherton's publication (2006) titled: Gambling - A Story of Triumph & Disaster by Hodder & Staughton. To be fair, the story about Woods was brief but insightful. Atherton, a top-class cricketer and a man educated at Cambridge visited Mr Woods at his office and had the opportunity of chatting to him and watching a few bets placed. 

Woods had won several hundred million from gambling. But he wasn't always a winner. In fact, like Bill Benter and Tony Bloom, they were inspired by blackjack and card counting which was a topic of great interest after Edward O Thorp published his masterpiece Beat The Dealer - A Winning Strategy for the Game of Twenty-One, published by Random House (USA) in 1966. Until this time, it was considered the casino house edge was akin to an impenetrable wall, which had a laser on the top to zap any would-be gambler who thought they could play Las Vegas at their own game. Thorp had found a way to turn the odds in the gambler's favour. 

Like any savvy gambler, Woods was interested in this new-found angle. In fact, he used it successfully to win $100,000. And, interestingly, he bumped into his old mate and adversary Bill Benter. You could make good money card counting as an individual but their was strength in working as a team. 

Anyway, there was money to be made in this professional gambler game. 

Woods wasn't just interested in blackjack but horse racing and his use of statistics and computer technology to create a software which churned the numbers and spat out winning horse tips. I'm not sure if the software had a name but it was Woods' passion and he even got Bill Benter in on the act. 

I'm not sure what the connection may have been with Honk Kong and horse racing but there was no mistake in targeting the two racecourses at Sha Tin and Happy Valley. Both basic courses and a limited number of race horses. It was a statisticians dream. You see it was all about control and limiting confounding variables. Basically, his team would put all the data into the computer and it would deliver value bets. That may be a number of selections in the same race. As long as the profits rolled in, the syndicate (or team) were happy. 

However, those early days of making the software pay wasn't going to plan. In fact, they were losing money fast. 

Shock horror. 

This is when Woods looked for investment from his Las Vegas gambling friends and foe. Amazingly, he couldn't get anyone interest even giving prospective investors 70% of the profits. 

It may have been at this stage Bill Benter put his hand in his pocket. However, it wouldn't be long before the two had a falling out.

I imagine this was enough to give Benter the same idea about building a revolutionary computer software in competition to Woods. Clearly, there was enough money for all. Although I was surprised to hear that 95% of all the massive money in the betting pool (which is a Tote system rather than bookmakers) was from rival syndicates. 

Woods said he wish he had kept his mouth shut about the computerised system as it would have been a better secret. 

However, there was mega money to be made. Both Woods, Benter and the other syndicates made hundreds of millions if not billions (Benter). 

Atherton visited the Woods office and watched the team in action. 

The room was very calm and calculated. No emotions. No high-fives. No boozing. 

Woods told of a day when they won £8M. Although he remembered the day they lost £3M. 

If there was one bet they wanted to come in it was the Triple Trio, picking the top three horses, in any order, for 3 races. 

Sadly Woods wasn't to live a long life and passes away of pancreatic cancer at the age of 62. 

Professional Gamblers: Who Is Simon Cawkwell?

I'm still thumbing my way through Mike Atherton's Gambling: A Story of Triumph & Disaster. A fascinating read, where I seem to bump into gamblers of much appeal but who I have no knowledge. It always makes for a great read when it's unexpected.

Many readers may have heard of Simon Cawkwell. 

If you haven't, then take a read and watch the video too.

Simon Cawkwell, widely known by his moniker "Evil Knievil," is a prominent British figure renowned for his activities in the financial markets, particularly in short selling, as well as his ventures in gambling. Born in October 1946 in Oxford, England, he is the son of historian George Cawkwell. Simon received his education at the Dragon School and Rugby School before training as a chartered accountant.

Financial Market Activities

Cawkwell's career in the financial markets spans several decades, during which he gained notoriety for his short-selling strategies. Short selling involves borrowing shares to sell them with the intention of repurchasing them at a lower price, thereby profiting from a decline in the stock's value. His first significant short position was in 1973 with MFI Group, where he capitalized on the company's share price collapse from 150p to 10p. Over the years, he has made substantial profits by shorting companies such as Northern Rock, Polly Peck, and Amber Day.

One of his notable contributions was exposing the fraud committed by Robert Maxwell, particularly concerning Maxwell Communication Corporation. His insights and actions in this regard highlighted his expertise in forensic accounting and his commitment to market transparency.

Gambling Ventures

Beyond the stock market, Cawkwell is an avid gambler, engaging in activities ranging from horse racing to sports betting. He has been active on betting exchanges like Betfair, where he placed wagers on various sporting events. In 2014, reports indicated that he made £150,000 in a single week through sports betting, showcasing his analytical skills and risk-taking propensity.

However, his gambling ventures have not been without challenges. In 2012, he reportedly lost £150,000 due to the collapse of the spread betting company WorldSpreads, which went into administration after a significant shortfall in clients' accounts was discovered. Additionally, he has had disputes with betting firms over the settlement of wagers, reflecting the complexities and risks inherent in gambling activities.

Public Persona and Writings

Cawkwell has authored several books sharing his insights into the financial markets and his experiences with short selling. His publications include "Profit of the Plunge: How to Win Short Selling" (1995), "Bear Essentials: The Secret of Forensic Accounting and Profitable Trading" (2003), and "Evils Good: Book of Boasts and Other Investments" (2012). These works offer readers a glimpse into his methodologies and the rationale behind his investment strategies.

Known for his candid and sometimes controversial opinions, Cawkwell has been a regular contributor to financial discussions, providing commentary on market trends and individual companies. His insights are valued for their depth of analysis and his willingness to challenge prevailing market sentiments.

Conclusion

Simon Cawkwell's career as a gambler and financial market participant underscores his analytical acumen and his readiness to engage in high-risk, high-reward ventures. His activities in short selling have had a notable impact on the companies he targeted and the broader market, while his gambling endeavors reflect a consistent application of risk assessment and strategic decision-making. Despite facing challenges and controversies, Cawkwell remains a significant figure in both the financial and gambling spheres, with a legacy characterized by boldness and a deep understanding of market dynamics.

For a more personal insight into Simon Cawkwell's perspectives on trading, investing, and gambling, you might find the following interview enlightening:

   

Mike Atherton Gambling: Interesting Read

I can't say I ever thought of Mike Atherton gambling. A great cricket player and noted sportsman. However, he must have a gambling aspect about him as back in 2006 he had a book published by Hodder & Stoughton with the title:  Mike Atherton Gambling: A Story of Triumph & Disaster. 

Intriguing. 

The first idea I had of this publication was reading Dave Nevison's No Easy Money published in 2009. Where he mentioned Atherton had visited his home for an interview and possible story for his book. 

This is quite a humorous tale in ways - seeing two sides to a story. In fact, Nevison featured in the book under the chapter: Dave Nevison: the Horse Player. Nevison, who admitted he'd had a terrible year betting had £30 at 150/1 on Betfair exchange on a horse called Ice And Fire running at Southwell. Atherton and Nevison watched the race and amazingly the rag won the race for a profit of £4,500. 

Nevison said in his book No Easy Money that Atherton must have thought he was the best gambler in the world. 

However, what Atherton didn't know was that Nevison admitted (in his book) that if the horse has lost his balance would have been zero. 

It made me smile imagining the extreme of two realities. 

I will continue to read Mike Atherton Gambling as is has a lot of stories with information I haven't seen elsewhere. I've read a chapter or two about the early days of Betfair and Andrew Black the founder of the platform, who was also a professional gambler. And an interesting chapter about bookmaker Barry Dennis. 

I will detail a few stories. 

Photo: JC 2024

Honest Book Review: Stephen Little From Bicycle To Bentley

It’s always a pleasure to dive into a new book.

While I’ve read many books about professional gamblers, I’ve come across fewer that focus on bookmakers. One I particularly enjoyed was Odds & Sods by Ron Pollard. This book detailed Pollard’s career with both Ladbrokes and William Hill, culminating in his role as the head PR man for Ladbrokes. It was a fascinating read, and I’d highly recommend it.

The latest addition to my collection is From Bicycle to Bentley by Stephen Little, published by White Owl, a new imprint from Pen & Sword Books based in Barnsley, North Yorkshire. Released on August 15, 2023, the book spans 121 pages. I purchased it from Amazon for £16.73 (including postage), a small bargain considering its listed price of £20.

The book features an attractive dust jacket and a foreword by Sir Mark Prescott, adding a touch of prestige.

Having followed horse racing for over 40 years, I recalled Stephen Little from my past impressions. I vaguely remembered him as a fair-haired chap in a fur coat, a rails bookmaker I either saw on TV or read about in The Racing Post, perhaps mentioned by John McCririck. To be honest, I hadn’t realized Little had published a book until I stumbled upon it while browsing Amazon for professional gambling titles. I immediately thought, This should be a good read. It’s always intriguing to learn from someone on the other side of the betting fence.

When I enjoy a book, I devour it like a piranha attacking a juicy steak. I finished this one in just two days.

The book is insightful from the outset, with much to admire about Stephen Little. His good character shines through, and it’s clear he is a man of his word—arguably the highest praise for a bookmaker. Despite the image of a man driving a Bentley, draped in a lavish fur coat, and taking bets with liabilities reaching up to £320,000, Little was far from being born with a silver spoon in his mouth. The son of a vicar, he defied expectations and became one of the most respected bookmakers in the country.

Little’s journey is captivating. As a young man uninterested in university—despite an interview at Cambridge—he spent his gap year cycling to racecourses across the UK. Often traveling over 100 miles a day and staying at hostels, he pursued his dream of becoming a bookmaker with unwavering determination.

His early career was far from easy. He began at coursing events and gradually built his reputation, meeting notable figures like Sir Mark Prescott, Harry Findlay, and John McCrirrick along the way. Before McCrirrick became a Channel 4 personality, Little would even give him rides to remote racecourses. These formative years laid the groundwork for his rise as one of the country’s most renowned rails bookmakers.

The book offers a wealth of anecdotes and insights. Little's reputation grew as a fearless bookmaker willing to take substantial bets, often hedging heavily to balance risk. He was pragmatic, basing his books on odds rather than personal opinion—a strategy that set him apart from many peers who overestimated their judgment, often to their detriment.

What stands out is Little’s tireless work ethic. He frequently attended two race meetings in a day to maximize opportunities. From taking bets from legendary punters like J.P. McManus to sparring with Patrick Veitch and challenging the betting intelligence of Phil Bull, his career was a whirlwind of action and resilience.

Interestingly, Little also relied on gambling to sustain himself during tough times. Like Alex Bird, he bet on photo finishes to make ends meet. His persistence eventually enabled him to acquire coveted bookmaker pitches on the rails, though this required immense patience, as many were passed down within families.

The book also touches on the challenges of the industry, including declining on-course betting. Little was instrumental in launching a bookmaker-funded betting exchange to rival Betfair, but the venture ultimately failed due to a lack of support. He eventually sold his pitches to the Tote after the restrictions they imposed made continuing untenable.

In conclusion, From Bicycle to Bentley is a captivating read filled with gems of wisdom and fascinating anecdotes. Little’s story is one of grit, determination, and passion for his craft. His journey from cycling to racecourses to driving a Bentley is nothing short of remarkable.

I highly recommend this book to anyone who loves a bet or enjoys the behind-the-scenes stories of bookmakers and racing legends. Stephen Little’s legacy is one of fearless ambition and integrity—a fitting tribute to a life well-lived in the world of betting.

Photo: JC 2024 (All Rights Reserved)

Terry Ramsden - Professional Gambling Book

I'm sure that title got you here like a man possessed. 

Terry Ramsden - professional gambler book. If only that was true. Over the years, we have seen a number of quality professional gambler books released. I can't help think that most do it in a desperate act to cash in some chips after life turned ugly. There are others who have released a book out of vanity. Not to say we can't learn something from every professional gambler story. 

I've read a number of publications by the following:

Dave Nevison

Harry Findaly

Patrick Veitch 

Alex Bird 

Nick Mordin (and yes to you know it alls, he did have a time as a professional gambler) 

I'm sure there are others but I can't remember them off the top of my head. To be fair, I enjoyed each book(s) for different reasons. I think every professional gambler has strength and weakness (as we all do in every aspect of life). But as they say conflict makes for a good read. 

Terry Ramsden is a man most punters remember. Back in the days of Thatcher, he was the Essex man made good with his company Glen International and his buying and selling of Japanese bonds. He was someone we all admired. The man with the mullet hairstyle and a wallet that saw no bounds. Money was no problem until one day it was and he was on the slippery slope to bankruptcy and spent time in prison. 

I always liked Terry Ramsden. 

I still admire him to this day. I used to rile people up by saying he was a professional gambler. They would come back with some stupid retort saying he wasn't. 

What was he doing all those years buying and selling bonds for tens of millions? 

No, that's right, he wasn't a professional gambler!

When he was winning money gambling he was a professional and when he lost it was a hobby. Yes, of course it was. 

I'm sure a few readers have found that old fuzzy episode on Youtube published by Knobhead 10, originally on TV somewhere called Jackpot. This series seemed to follow a few professional gamblers including Harry Findlay and UK poker legend Dave 'Devilfish' Ulliott.  

It's a fascinating documentary about Ramsden catching up with him after his release from prison and residing in the USA. 

Take a look and see for yourself 

I must have watched this ten times and still enjoy it. That classic song intro Broken Land by the Adventures at (5:30) details a masterful production. That is worth a listen if nothing else. It's a well worked production and it is about the most real thing you will see about Mr Ramsden. It is an honest piece of work. 

He was good enough to follow up in later years with Star Sports videos (3 of them, I think) #BettingPeople Interview. 

If there's one book all sports gambling readers would buy it's Terry Ramsden's. It would detail stories and bets that would make even Harry Findlay look small fry. It would be a best seller and we would all be thinking that is mad. 

We've all heard about the big bets he did but what about the ones he kept close to his chest? The people he was connected with? The great and the good of racing. We all wanted to be Terry Ramsden. I'd have grown a mullet if it helped.  

I guess Terry is on a better financial footing these days. He was never going to be someone short of a few quid. 

Just a note for Terry... 

Get that book written. I'm one of about a million punters who would put their hand in their pocket and have the read of a lifetime. 

Good luck to you.