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So how does that betting scheme work that was in the paper today???

West Australian Racing
Hedging bets ?? What's involved? Any goss on the matter folks?

Comments

  • Precision1Precision1    544 posts
    Ha ha the money they were talking 99% of the battlers on here weren’t caught up I’d assume.  
  • ManchildManchild    679 posts
    RORT
  • thefalconthefalcon    19,949 posts
    it might be a rort, mankid, but the $200+mio they are talking about must have a large amount of winnings in there.
    funny how some very wealthy folk were sucked it, you'd think they'd know better. we don't know the full story but where is the brain child? still in perth?
  • H-BOMBERH-BOMBER    10,235 posts
    Being touted as "betting whiz kid" on media platforms. More like professional con artist.

    If the winnings are there in the bank they can be traced/found
    If the betting transactions were real then they are on Betfair for investigators to see
    In these cases the money can be paid to investors.

    If it was all made up then they've done their dough

    Falc is right, all the info not there.

    Surely money has changed hands electronically for these purposes. Bank statements and Betfair statements should be able to tell the story.

    If not well say bye bye
  • thefalconthefalcon    19,949 posts
    wtf can a then early 20's kid con astute (?) businessmen...darren could have been a doddle.....on a pie in the sky plan to beat guys like betfair, lanbrokes etc. from what we have heard about them is that you get shown the door if you have a few wins.
    the kid must be bloody good on the gob...
  • savethegamesavethegame    2,786 posts
    Falcon you remember Cristo Moll outsmart and conned alot very smart people in the medical profession in W.a.
  • Vincent_vegaVincent_vega    463 posts
    edited April 2021
    How long ago was the Vlahos fiasco? It amazes me how stupid people are and how easily forgotten these scams become. It also amazes me how a Dalkeith address and an Aquinas College education somehow vouches for someones credibility. A fool and their money are easily parted as they say - say goodbye fellas. Its gone.

    Only people to receive anything out of this are the partners at KPMG

    JimmyPop, Manchild, goose likes this post.

  • thefalconthefalcon    19,949 posts
    yes i do vaguely stg, i was living in sydney at the time. i would have though the name would put a lot of people off...i know i would have been....

    V_v they are talking of 200mio..that would not have all been "conned money" so he must have made a small fortune of his scheme.
    now the big ? is where is it? it must be somewhere..would the kid be smart enough to bury it in the known safe places abroard? he's had to have had a minder...
    where is mr. brown at the moment?
  • Piston_BrokePiston_Broke    2,047 posts
    edited April 2021
    the 200 m is what they thought they had won, if someone put 2 mill in and for 4 years this kid is saying we are winning x amount when in fact he has just been spending their money, fake spreadsheet, bets are only declared after the meeting, so in fairy tale terms his investors think they have a share in a 200m pie.

    Exactly the same thing Vlahos was doing,  you hear stories  about who and how much was lost, one international jockey who was riding here lost a considerable amount, only clue I can give as to who he is that "he would give a crowbar a sore back". C'est la vie

    JimmyPop, Manchild likes this post.

  • H-BOMBERH-BOMBER    10,235 posts
    Spot on. Like I said, if he's punting the money surely they are declared before the race....although this wouldn't be your average Punters Club....

    I remember years ago on another forum, EZboard I think. There was a horseracing forum similar to this and they had a Punters Club. I didn't go in it so cannot remember the buy in.

    It was interesting to watch to say the least. There was one guy holding the money on behalf of all these blokes, only known through the internet forum. From memory they had a fair bank, around 10K I think.

    If my memory serves me, the way it worked was that there would be turns as we did on here and someone would pick a horse and have an amount on, bet by the one bloke. Anyway a few months go by and they are up and down and then suddenly they are on this win streak. Everyone is gagging at the winning streak. Everyone is happy. Each week, another winner. One bloke backs a $60 winner. Unbelievable stuff. They are up quite a lot.

    This Punters Club goes on for about 12 months. Everyone is sweet but a few are happy and want to cash out.

    Said person who holds the money and bets says yep yep, all good, send details etc. Other people think this is a great idea so it's decided to cash out.

    Nek minit, bloke has disappeared. Off the grid. Gone. No trace. The forum blew up.

    Some on here may have been on this forum years back and I might have it wrong. But I recall the bloke actually resurfaced a while later and claimed he never put any of the bets on........his problem was that people kept picking winners and got too deep....pretty sure the money was never recovered. If the Punters Club just died a natural death by backing losers, nobody would have raised an eyebrow....

    Anyone on here frequent that EZboard horseracing forum. Probably circa 2003

    If the above is completely wrong, we'll never let the truth get in the way of a good story.



  • Vincent_vegaVincent_vega    463 posts
    Hahahaaha it was the actual winning that brought about the downfall.

    thefalcon, H-BOMBER likes this post.

  • thefalconthefalcon    19,949 posts
    ^^ poor bloke...you don't have to be dead to be stiff.... :))
  • ChrisChris    5,218 posts
    Thoughts on a PTT Punters Club?

    jum, Vincent_vega, Gilgamesh likes this post.

  • jumjum    3,512 posts
    Chris said:

    Thoughts on a PTT Punters Club?

    YES  :))
  • Vincent_vegaVincent_vega    463 posts
    I will run it. My Nigerian uncle will hold the winnings

    Manchild, JimmyPop, H-BOMBER likes this post.

  • NevershowsurpriseNevershowsurprise    995 posts
    Chris said:

    Thoughts on a PTT Punters Club?

    Our first one ran 161 weeks, fair effort that.

    That was even with our 1908 Model T Ford driving resident - aka Falcon, whining for 161 of those weeks about how people chose to bet.

    Bring it back Chrisso - let the multi live once more!

  • JimmyPopJimmyPop    316 posts
    Chris Brown is the ideal candidate to run the Punters Club. Hollywood will want to make a film about his methodology in syphoning millions off the vulnerable.
  • GilgameshGilgamesh    4,719 posts
    Chris said:

    Thoughts on a PTT Punters Club?


    Keen if we can get around a $200 000 000 kitty.

    Vincent_vega likes this post.

  • GilgameshGilgamesh    4,719 posts
    Gilgamesh said:

    Chris said:

    Thoughts on a PTT Punters Club?

    I’ll put in $50.


    Keen if we can get around a $200 000 000 kitty.


  • thefalconthefalcon    19,949 posts
    you are giving yourself away, NSS, who except somebody very close to this forum would know the last punters club ran for 161 weeks......hands up anyone who new the last one ran for 161....nobody eh...thought so.
    now, i'm not a punta but.......
  • ChrisChris    5,218 posts
    Gilgamesh said:

    Chris said:

    Thoughts on a PTT Punters Club?


    Keen if we can get around a $200 000 000 kitty.

    If you've ever seen me in the flesh I'm not exactly stealth like - so I'm not going to go much good with the "runner"

    Gilgamesh likes this post.

  • jumjum    3,512 posts
    It has been mentioned a few times about a punters club.
    I reckon you should start another one up @Chris. I joined PTT when the other one was winding up.
    Would be great to get another one going.
    Ill be in 
    :-bd

    Voodoo likes this post.

  • NevershowsurpriseNevershowsurprise    995 posts
    thefalcon said:

    you are giving yourself away, NSS, who except somebody very close to this forum would know the last punters club ran for 161 weeks......hands up anyone who new the last one ran for 161....nobody eh...thought so.

    now, i'm not a punta but.......
    I suggest you head to the main discussion board, headings, punters club, week 161.

    Not that hard but unsurprising considering how often you have NFI about things you have an opinion on.

    :-@ 8-}
  • bookieloverbookielover    2,623 posts
    You ok NSS? Everything alright?
  • NevershowsurpriseNevershowsurprise    995 posts

    You ok NSS? Everything alright?

    Yes thanks Bookie. Nice of you to ask. Enjoy your weekend.

  • YankeeYankee    299 posts
    Just another ponzi scheme they keep popping up, Bernie Madoff was the last huge well known one,get an"investor" in then give them a great return eg 10% but its their own money back they are rapped with 10% or whatever they then add more to the pot tell their friends and off it goes, only starts falling apart when the inflow of funds slows,as with every scam works on peoples greed.
  • MarkovinaMarkovina    2,889 posts
    Yankee said:

    Just another ponzi scheme they keep popping up, Bernie Madoff was the last huge well known one,get an"investor" in then give them a great return eg 10% but its their own money back they are rapped with 10% or whatever they then add more to the pot tell their friends and off it goes, only starts falling apart when the inflow of funds slows,as with every scam works on peoples greed.

    Spot on - and i think your right about greed and  it doesnt matter how well educated you are

    Dont know if you followed that recent NSW case the woman Caddick 

    Did it for years - and the investors according to the report included a group of Perth Surgeons 

    And with one of them she doubled his money in a year - now wouldnt you at that point sit back and say how is she doing  this  ?

    She was unlicensed - and just under a photocopied non existent Comsec share trading acct - which only had 6 numbers - not their normal 8 - she would make up fake buys/sells of shares to back up those huge returns given - everything done on excel spreadsheets - hah

    And the Perth surgeon - apparently recommended her to a Perth Solicitor - who was also going to tip a bundle in - but the wife of the Solicitor got a little bit suspicious of a few admin things and contacted ASIC - and that was one of the triggers for an investigation

    And the old adage - which ive allways believed in - once a thief allways a thief - it said when she was young and in her 1st job she forged the bosses  signature on 3 cheques for 2k and got sacked . 

    And even when she had a luxury house and driving a 400k car - her friends said  - if she was at say a restaurant - and say liked the Salt and Pepper shakers - then she would pinch them- oh dear 




    Vincent_vega likes this post.

  • thefalconthefalcon    19,949 posts
    another one, i cannot believe perth people are so bloody gullible... :-??
  • Vincent_vegaVincent_vega    463 posts
    Yankee said:

    Just another ponzi scheme they keep popping up, Bernie Madoff was the last huge well known one,get an"investor" in then give them a great return eg 10% but its their own money back they are rapped with 10% or whatever they then add more to the pot tell their friends and off it goes, only starts falling apart when the inflow of funds slows,as with every scam works on peoples greed.


    there was a good movie about Bernie. Certain market guru’s knew that his returns, although not massive but were always constant, were complete bullshit. They went to the authorities to report it. The reply, “its Bernie Madoff. Dont be stupid”.......

    thefalcon, Markovina, Manchild likes this post.

  • goosegoose    1,628 posts
    The media pushing another chance to bag the racing industry here but I don't believe this amount of money was being punted on horses more like a small percentage of it the markets aren't big enough here maybe if it was Hong Kong.
    Thinking more likely the money was put into shares or crypto couldnt believe how much money some of the younger generation have been making of crypto investments over the last few months if you do it right nearly untraceable as well.
    Am talking some instances of at least 20 by returns over the last 6 months will probably end in tears but definitely hasn't for some of these crypto investors.
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