BC3,Vlahos etc

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Unibet is the rumoured benefactor of his large punting losses. Then there is his business, lifestyle, his missus house, and surely offshore accounts
 

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Lockyer24 said:
Unibet is the rumoured benefactor of his large punting losses. Then there is his business, lifestyle, his missus house, and surely offshore accounts
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If thats true it should have been obvious earlier,worst fixed odds of any provider by a fair way

seth
 
OhNoWrensted said:
So what's the plan? Stay here, face the music and the charges and the bikies...and when it all blows over he flies out to the bahamas and his swiss bank account full of other people's cash? Bill's obviously been savvy to this thing going t1ts up for a while - so wouldn't you be ready to flee the scene prior to this happening? The money or whatever it has been spent on is somewhere, and Bill is not in a great position to enjoy it any time soon or in the future (if he has one after the 1%'s are done with him) - so has someone double crossed him?
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I wouldn't have thought there's any bikers either. More bullshit like the heavies who beat BV up.

The plan woulda been to use the cash to get his other ventures (ie BC3) up and flying, slip the cash back into the "club", close it and pay everyone out.

What could possibly go wrong?
 
Th
Bunk Moreland said:
I wouldn't have thought there's any bikers either. More bullshit like the heavies who beat BV up.
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The 2 that beat up BV weren't bikies, but the 2 large dudes that wandered into Beasley's office sure weren't ballet dancers. Marshall has had personal security on him 24 hours. People are in hiding and/or leaving the country with family. Money laundering rife in the syndicate.
 
From Scott's blog:

"On June 15 this year, racing identity Bill Vlahos claimed his punters club, The Edge, staked $13.8 million, including more than $8 million in Melbourne.
In a betting sheet sent to members, Mr Vlahos said he had backed the favourite in the second at Moonee Valley, Mr Make Believe, to the tune of $1.8 million. It finished last.
While Mr Vlahos claimed The Edge was down $6.7 million that day, over the longer term he boasted of returns of up to 218 per cent a year."
Here are some prime examples of why The Edge was a complete scam.
- Getting a return 218% over the course of a year, but investing more than $10 million per day. Simply impossible. Zeljko Ranogajec and his team who actually did their homework and exploited market inefficiencies and pool rebates, would not have expected an 18% profit (118% annual return).
- $1.8 million was supposedly bet on Mr Make Believe. The official betting fluctuations for the horse were opened $2.30, drifted to $3.20, firmed slightly to $3.10. There was only $184,360.60 in the Vic TAB win pool for that race, the home TAB and almost certainly the largest pool in the country, where it closed at $3. Without knowing the hold of the corporate bookies or looking up the interstate TABs, it's pretty obvious that $1.8m would have been more than the ENTIRE NATION staked on that race. By my rough calculations, just $50k, less than 3% of the alleged investment, would have sent the TAB price tumbling into odds-on.

seth
 
Asbolutely, the whole thing about the punting is guff. It wasn't happening. The punt on Mr Make Believe is ironic!

Ranogajec makes a lot of his money out of rebates, and only targets a small winning % on the punt.
 
tants said:
So Duritz, how's the punter's club going? Business dried up?
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Since the end of the spring carnival I've only been doing Saturday clubs, have had a little bit of a lighter period, always a bit mentally stuffed after the carnival and in need of a rest.

I have of course had people say things like "I hope your Westpac account has vanished!" etc, but my clubs are completely different to what Vlahos was claiming to run. I'm just trying to give recreational punters a chance to have small wins, not the rubbish he went on with.

For me, personally, the Vlahos story just makes me more sure that massive betting and massive syndicate betting is never a path I want to go down.
 
OhNoWrensted said:
Th

The 2 that beat up BV weren't bikies, but the 2 large dudes that wandered into Beasley's office sure weren't ballet dancers. Marshall has had personal security on him 24 hours. People are in hiding and/or leaving the country with family. Money laundering rife in the syndicate.
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So it was Beasley was it that got a visit from the heavies ?
 
OhNoWrensted said:
Th

The 2 that beat up BV weren't bikies, but the 2 large dudes that wandered into Beasley's office sure weren't ballet dancers. Marshall has had personal security on him 24 hours. People are in hiding and/or leaving the country with family. Money laundering rife in the syndicate.
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It wasn't Beasley, and that story is hardly reliable or verified - did it even happen? It's like the guys who beat up Vlahos, who much like everything else in this story, never actually existed.
 
sethlad said:
From Scott's blog:

"On June 15 this year, racing identity Bill Vlahos claimed his punters club, The Edge, staked $13.8 million, including more than $8 million in Melbourne.
In a betting sheet sent to members, Mr Vlahos said he had backed the favourite in the second at Moonee Valley, Mr Make Believe, to the tune of $1.8 million. It finished last.
While Mr Vlahos claimed The Edge was down $6.7 million that day, over the longer term he boasted of returns of up to 218 per cent a year."
Here are some prime examples of why The Edge was a complete scam.
- Getting a return 218% over the course of a year, but investing more than $10 million per day. Simply impossible. Zeljko Ranogajec and his team who actually did their homework and exploited market inefficiencies and pool rebates, would not have expected an 18% profit (118% annual return).
- $1.8 million was supposedly bet on Mr Make Believe. The official betting fluctuations for the horse were opened $2.30, drifted to $3.20, firmed slightly to $3.10. There was only $184,360.60 in the Vic TAB win pool for that race, the home TAB and almost certainly the largest pool in the country, where it closed at $3. Without knowing the hold of the corporate bookies or looking up the interstate TABs, it's pretty obvious that $1.8m would have been more than the ENTIRE NATION staked on that race. By my rough calculations, just $50k, less than 3% of the alleged investment, would have sent the TAB price tumbling into odds-on.

seth
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The mind truly boggles that people thought this was legit.

I know there's been some doozies throughout history, but this is possibly the most patently ridiculous scheme I've ever heard of - not just betting, but if any kind.

No documentation... no receipts... no hard information... wagers that somebody with the slightest knowledge of betting markets would know are completely implausible...

I mean this - how could anybody be so dumb?
 

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Bunk Moreland said:
The mind truly boggles that people thought this was legit.

I know there's been some doozies throughout history, but this is possibly the most patently ridiculous scheme I've ever heard of - not just betting, but if any kind.

No documentation... no receipts... no hard information... wagers that somebody with the slightest knowledge of betting markets would know are completely implausible...

I mean this - how could anybody be so dumb?
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The key is he targetted people outside what you would call the normal racing sphere - so they weren't as in tune as people with some idea of how racing works and the realities of puntings returns and systems. This bloke is a trained psychologist / confidence man, he's picked his marks well and let's face it who doesn't want the the opportunity to make a senaky quid on the side that the tax man - or your missus doesn't know about. The secrecy of the "sneaky" and elitism of the club, works in his favour it's like the mafia. Returns are great - the reporting supports the "winnings", but all the time the secrecy of the club and the importance of keeping that way is pushed strongly.

Easy to be critical in hindsight but personally I feel for all involved. The damage something like this can do to people affected is catastrophic, both financially, emotionally and mentally. Relationships will end as a result of the fallout from this and hundreds of lives will be affected forever.
 
western royboy said:
The key is he targetted people outside what you would call the normal racing sphere - so they weren't as in tune as people with some idea of how racing works and the realities of puntings returns and systems. This bloke is a trained psychologist / confidence man, he's picked his marks well and let's face it who doesn't want the the opportunity to make a senaky quid on the side that the tax man - or your missus doesn't know about. The secrecy of the "sneaky" and elitism of the club, works in his favour it's like the mafia. Returns are great - the reporting supports the "winnings", but all the time the secrecy of the club and the importance of keeping that way is pushed strongly.

Easy to be critical in hindsight but personally I feel for all involved. The damage something like this can do to people affected is catastrophic, both financially, emotionally and mentally. Relationships will end as a result of the fallout from this and hundreds of lives will be affected forever.
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Yep, he only needed 1 big name to secure the snowball effect.

Hey X, got this punters club going. Plenty of big names. Y is already in. X joins.

Hey Z, got this PC going. X and Y are already in. Z joins etc etc
 
terminators said:
Jimmy gone
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There is a lot more to that story than meets the eye - there were plenty of good judges that "queried" this purchase at the time including Dr Turf. Put simply the horse was not worth $5M on type - it was all hype for BC3 and as we now know "The Edge". Laminitis is an insidious disease - and there is no known cure just a management plan - BUT there have been a big swing in claims were Laminitis is listed as the cause of death.

Can of worms just got bigger.
 
I'm sure we'll find out eventually - but I'm most curious as to whether BC3 still had Jimmy's insurance policy, whether Inglis picked up the insurance ahead of the re-sale (you wouldn't get a new policy), or whether Inglis have just done their dough after getting screwed over by BC3.

You're right royboy - this adds even more intrigue to the whole mess.
 
This horse was part of Australian racing royalty and for this to have occurred is so shocking. I don't believe in this spider bite - laminitis story. I wonder what he was really injected with at the time. I wonder if BC3/Vlahos kept taking people's money saying that they would be secured a share in him, The amount of shares given was probably 1000%.
 
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