Tuesday, May 31, 2011

Alan Woods

Alan Woods
The most successful horse bettor of all-time and the richest gambler ever. 
That's the life of a true billionaire playboy.

Born in Australia in 1945, Alan Woods, as a child, has a passion for bridge and was gifted with brillance and aptitude for mathematics, which fascinated him.  But it wasn't until his 30s that gambling took a major part of his life.  In the late 70s, Alan Woods was a mathematician working as an actuary, he learned to count cards at blackjack then became a pro gambler travelling casinos around the world for three years.

In 1982, tired of the risky business of blackjack card counting, Allan Woods headed to Hong Kong, China with fellow card-counters, Bill Benter and their Vegas friend Walter Simmons.  As Woods would say:  "The beginning were nightmarish" but the trio finally devised a software program that gave them the edge in horse racing.  After losing their $150 000 bankroll in the first two years.  He had his first successful year in 1986-1987, winning $100 000.  Years later, all three of them were multimillionaires.

And for the next twenty years, he and his team of computer wizards, racing analysts, accountants and money runners rocked the Hong Kong Jockey Club's world. 

He was strictly a number guy.  He had not been on a racetrack for over twenty-five years.  His job ressembled more that of an accountant and computer programmer.  For him, it was all about statistics, numbers, and computer calculations.  His advice to someone who wanna be a pro gambler would be: "Don't do it unless you want to be a computer programmer."

Most remembered as an horse bettor extraordinaire, Alan Woods was a great all-around gambler.  He has been a world-class bridge player, a sports bettor, a globetrotting blackjack player, and a stock market speculator.  Horse betting was his main job and the stock market was were he did his "gambling".  In the late 90s, he took a $100 millions plunge when he attempted to short the NASDAQ stock market index just weeks before the dot.com bubble burst.  Bad timing!  Sixty days later he would have been a multi-billionaire.

Passed away on January 28, 2008, at 62 years old from an appendiceal cancer.  Allan Woods, aka Mr Huge, built an estimated fortune of $670 million before his death.  Which make him the world's greatest horse racing handicapper.

P.S. (Kid, stay in school!  As you can see, mathematics and computer skills are always a must for anyone who want to succeed as an investor and/or a gambler.)
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