But, as he explained to the court, it wasn’t winning that kept them way ahead of the average punter – it was the rebates or "loyalty payments".
"It’s very simple," Zeljko told the court. "If you bet $100 and lost $5, but you get a 10 per cent rebate, you still make 5 per cent."
"You always win," he said. "I’m telling you that, if you bet very large, it’s a pari-mutuel pool, you depreciate it so far that you end up getting under fair odds. If you fix something at $8, you get six, but if you get a rebate that puts you into the positive."
An article that keeps on giving.
"Depreciate" is a cute euphemism for "manipulate".
Now if you force everything below fair odds, then no punter can win long term.
Unless they enjoy a compensating kickback!
Kind of Zeljko to reveal that gem while he's bankrupting his partner over discretionary kickbacks.
Now if that's happening with Tabcorp's Totes why is anybody without a kickback going near them!
When there are so many
completely legal alternatives.
I invite you all to calculate what the kickback is if you get $6 about an $8 chance, and still end up in front!