Hey, has anyone heard of Rhodes Peninsular Investments. It is some betting company. More is explained on there web page, www.rhodespi.com.au

To me i seems a little bit sus, just that there are so many people out to try and scam you for your money these days.
What you think?

Well it may not be a straight out scam...but none the less it is quite retarded.

dodgy....
if you want to punt on two horse races (or anything) just get an online account with one of the many reputable Aussie agencies
http://www.centrebet.com/
http://www.tab.com.au/

three things

a) it is possible
b) there is no way these guys can being doing enough volume or stay in business without signing up false accounts with bookmakers. sharp accounts are eventually found out after they have placed a large enough number of bets and haven't lost money. also, there are faster ways to identify sharp accounts like comparing the odds taken against the closing odds, suspect bet sizes, suspect action like placing bets just before the line changes, betting on known weak lines, etc.
c) money derived from this is clearly not tax free


last edited by hast at 21:58:51 25/Sep/07

Thanks mate,
Why is it that the money is not tax free? Isnt money won by betting 100% tax free.

a) you are not making the bets yourself. as far as your concerned they are a black box. you put money in and you take money out. if you take out more money than you put in it is income.
b) they are playing a game of chance in a methodical way to make money. casinos pay tax. what they are doing looks suspiciously like being a casino and having bookies as clients. :) this is also a grey area and the tax department will probably only go after people making a living/business out of games of chance. if you are a small time winner at poker at the casino the tax department probably won't care. THIS IS NOT PROPER LEGAL ADVICE.


last edited by hast at 23:08:56 25/Sep/07

last edited by hast at 23:09:33 25/Sep/07

buy BHP like i been saying for years

So you guys think its a dodgy company? I noticed the company has an abn number, does that mean anything, like they are registered and the government knows about them or does that mean nothing these days?

does that mean nothing these days?

Ding ding ding we have a winner.

Nice brochure, but as if you touch your headset when you're using it, phallic grabbing whores

these guys are around the corner where I work I'll do some on site recon!

if they drive nice cars we'll know it's legit. report back asap so i can give them money too.

I know there is a young guy with a Ferrari F430 who lives in chevron renaissance and he made his money supposedly with sports betting software.

So nitro does it look like a real company? Does it look dodgy? Where are they found.

Its a scam for sure. Went to the address yesterday. Nothing there.

What address were these guys at. I have been contacted by them and I want to hit them with this query.

It should be tax free, as you have an account with them and will be placing the bets youself (as far as it indicated - you place the bet on their software with their research and they take a commission).

However I cant see how they can find regular instances of where arbitrage exists. The market should have all the same information, and it is very unlikely two bookmakers whether in a different country or not would be that polarised.

and will be placing the bets youself

i don't see where it says this. in the brochure it says 'we trade'.