In a worrying sign for Australia’s racing authorities, one of the country’s highest turnover punters is switching more of his focus - and his investment - to overseas markets.
Australia’s biggest fixed odds punter is becoming increasingly concerned about the future of the country’s racing industry, prompting him to direct more of his resources into international betting markets.
In what should ring alarm bells for principal racing authorities (PRAs) across thoroughbred, harness and greyhound racing, the professional gambler made the startling admission to The Straight, painting a bleak picture for what could be ahead for the country’s three codes.
The punter, who has bet on racing professionally for two decades, has deliberately maintained a low public profile throughout his gambling career but he is widely respected by bookmakers, with his wagers regularly triggering significant market moves.
He spoke freely but did not want to publicly disclose his identity. The Straight agreed to retain his anonymity in order to canvass a broad range of issues.
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