I like Ranogajec. He doesn't actually win much from TAB but they give him a rebate on all bets of about 2%. So he really doesnt need to find winners, he just needs to breakeven and turnover as much as possible. He could just take 1.04 place bets all day.
When he does the other forms of betting like keno, he is waiting for jackpots. Or pokies where they wait for jackpots then jump on as many machines as they can.
Don't really believe in taxing winnings. It's like double taxing. Tab is paying turnover tax (win or lose) so punters shouldn't have too.
Having said that, their is a classification of professional punter. You can then claim losses, and purchase books and subscriptions.
They are clearly "professional" in nature, but unless they are asking to rebate their subcription to foxtel and such then I don't see an issue.
Tax office is funny. They let a tradie claim food expenses on his dog because he accompanied him to the work site.
