Image source: Freepik
I’ve been reading Mike Atherton’s Gambling: A Story of Triumph & Disaster.
Although published back in 2006, it is a very good read. I like the many and varied stories from individuals and also insight about the history of gambling.
Tony Bloom is one of the professional gamblers detailed. Needing little introduction, he may be one of the most successful punters in the world. In fact, he is reputedly worth over £1 billion using both gambling and business acumen to make his fortune. There aren’t many billionaire gamblers. In fact, the majority of punters lose.
I’m not sure how long Atherton had to talk with the Brighton man but it must have been a flying visit as the story covers just 5 pages.
However, they are insightful words.
Bloom was influenced by his grandfather who owned greyhounds and liked a bet. Also, he enjoyed the casino. He said: ‘He was a small-time gambler, but he loved it and it was never a problem for him. He passed his enthusiasm to me.’
Bloom enjoyed gambling from an early age, visiting the local arcades in his home town. And used a fake ID to try his luck in the betting shops.
In those early years, he said he was a hopeless gambler, losing money. Instead of using knowledge and probability he was simply guessing.
However, while at Manchester University he enjoyed sports and spread betting and it began to pay.
After completing his degree in Economics he worked as an accountants for a two and a half years while gambling. When he left in 1993 he had £20,000 in winnings.
A stint in the City trading options saw him making more money betting as a sideline.
He would soon jump in the deep end as a professional gambler.
With no responsibilities, he was an aggressive gambler, but far from the finished article we see today. Spread betting saw him bet without staking strategy or bankroll management.
Spread betting on the cricket saw him lose £5,000 on one match. It could have been worse!
I like the way Bloom details his bets in a very matter of fact way.
‘You’ve either got value, or you haven’t. Occasionally, to win big, you have to risk losing.’
His success was being noticed and it was Victor Chandler who contacted him about Asian handicap betting. In fact, Bloom worked for Chandler at Gibraltar for three years. Not only did he help them break into the Asian football market but he learned valuable skills in his own right which would see him well in the future.
Looking for a piece of the action, Bloom set up his own bookmaker business, Premierbet. It was an opportunity for English punters to make use of the Asian handicap system.
However, the bubble had burst with many dotcom businesses and the arrival of Betfair made the betting industry a very competitive landscape.
He sold the company for £1M.
In 2006, he would set up his betting consultancy, Starlizard, which focused on betting football on the Asian handicap system. It is a business which allows high-stakes bettors to bet on his knowledge. It is a very secretive operation as Bloom likes to keep his cards close to his chest.
Even back in those early days, it was speculated that Starlizard would bet £250,000 on a single football match. You can only imagine the sums of money now.
Football is a great betting medium and World Cup contest can be exceptionally profitable.
Bloom is a fascinating character and greatly admired by many gamblers as a modern-day hero.
There is a lot to like about his approach to gambling.
Photo: Freepik
