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theShortingHat

179 Posts.

9

15/06/17

12:09

Post #: 25291212
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Originally posted by Reaper11 ↑

The scale of this deal is extraordinarily large. The deal is that Bartholomew bets $200 million per year or about $3.9 million per week. If he bets on 30 race meetings per week, that would amount to about 260 races. So he's betting $15 000 on average per race. The risk is that the losses incurred catering to Bartholomew dwarf the rest of the business and wipe it out. If he makes 5% on turnover, that's $10 million per year. The opportunity is that they leverage the loss lead off Bartholomew into a viable large scale tote business. There doesn't look to be much middle ground.

Reaper.

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But by betting into the GT he is betting against other gamblers rather than the house, right? He could make 5% on his investment without the GT losing anything. Maybe they have negotiated a lower takeout on his betting.

TBH Price at posting: 24.0¢ Sentiment: Buy Disclosure: Held
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