DTers weekend aftermarket lounge 2-5th Feb, page-40

I think peeps might be shocked to know how much $$$s some 'traders' make. I knew these guys David Walsh and Zeljko from my days at the track. They weren't the only super smarties there. I believe they do a bit of share trading as well these days. They are still going flat chat 11 years after this story came out.

From SMH
"The head of a secretive "Punters Club" which uses sophisticated software to make thousands of calculated online bets across the globe each day, allegedly made more than $36 million over three years from the venture but did not declare a single cent of it to the Australian Taxation Office, court documents reveal.

The Tax Office is pursuing Zeljko Ranogajec - who now calls London's 1 Hyde Park apartments home - over the millions of dollars in profits he secured as the biggest stakeholder in the 17-member club between 2004 and 2006.

The Tax Office argues that the club is effectively a multinational business and has launched proceedings against a number of members. These include the high-profile owner of Tasmania's Museum of Old and New Art, David Walsh.

Set up in 1987 by a group of ex-maths students from the University of Tasmania, the club is a highly sophisticated operation that uses complex algorithms to calculate the odds in thousands of horse and greyhound races, the Tax Office says.

Through a series of subsidiary companies, it then places millions of bets a year on sporting events all over the world, operating 24 hours a day, seven days a week.

The details of Mr Ranogajec's takings from the club were revealed in Federal Court documents filed this week.

The court documents show that the club's turnover increased from $555 million in 2004 to $2.453 billion in 2006. It made a $66 million profit in 2006 and it is expected that these profits continued to grow in the years since.

The Tax Office is pursuing the club's members as most of the punters are Australian citizens and the club's operations are primarily conducted in Australia."

ATO were after Zeljko for $one billion. Has all been settled for undisclosed.