David Walsh.. the Wizzard of Odds?
 

Kicking back with a glass of red & copy of the BRW Rich 200 rich list here.
which is the only edition I buy for the year and probably explains why i'm not on it (yet!)

Honorable mention in this year's list must go to David Walsh. While his estimated wealth falls short of the $210m cut-off... Walsh has so overtly used a fortune accrued from wagering to build a temple of art.. the country's largest private museum.. a $175m project on the banks of the Derwent.

Walsh ~ "I invent a gambling system, make a money mine. Turns out, it aint so great getting rich using someone else's idea... What to do? Better build a museum, make myself famous. That will get the chicks"

If he aint Nash - he knows Nash.

Who is he and/or who does he know - this 'Wizzard of Odds' ?


Cheers LG

darkydog2002 obviously.

:D

Eh?

Chortle!

Could be, how would we know?

LG

David Walsh was one of the group of Tassie uni mates with Zeljko Ranogajec who built a fortune together from their gambling efforts.

Amazing how far TAB kickbacks can take you;)

That's it norisk. To be a winner you have to beat the tax, just like in big business.

I read an article on him and got the impression he uses the DS method (he says in the article he uses a well known method that is widely available and many books and articles have been written about it) but with small returns and large turnover, and of course TAB discounts. In other words the small punters pay for his profits.

In the early days, when this uni pack were just starting to compound their bankroll, the TAB actually tried to close them out.

They occupied a townhouse on the road that leads to the casino which the locals termed 'the bunker'. It was heavily fortified and contained a lot of high powered computers churning the numbers faster than the TAB's computers.

Their response to the TAB's efforts to shut them down was "Do you want us to take 0.05% of your turn-over or only 0.00025%?" The TAB soon got the message and accepted this group for the liquidity it injected into TAB's markets to the attraction of the rest of the punters.

Whilst I don't know what their system was, I expect it was relatively simple as they went on to apply it to virtually every casino in the world (as they were banned and had to keep moving to the next casino!). They couldn't have taken their computers to the casino's so I assume their winning method was simple enough to be applied manually.

We could be synical towards these guys due to the hand-outs they've received but I take inspiration from them that a simple winning system is within my grasp... I just have to find it!

Yep, they had to start somewhere so obviously had enough smarts to get the ball rolling & beat the system, so kudos for that.

There would have been multiple 'nash-types' in that syndicate I am thinking.

Possible equivalent to 'Quants' on the trading floor - basically a very slick walking talking maths box and not a lot of personality (until one gets them out for a pint and a curry and other naughty stuff.. whey-heeey, you boys ARE human!!)

LG