Pass Me The Vaseline

I have to all intents and purposes turned up all punting. It seemed the right thing to do at my age and stage in life. But, given that I am probably a un-rehabilitated addict after a lifetime of punting, I am occasionally motivated to fiddle around on UK racing for 'entertainment'.

I must have been particularly bored this week because I have played every day for a short period with a fair degree of success.

But if you ever want a reason to stop this stupidity altogether then have a look at these figures relative to the risk involved :

1.) Let's start off by ignoring what I have to earn to actually fund the activity as this will vary from punter to punter dependent upon your personal tax status.

2.) I bet on Interbet.

3.) Since Monday I have won R 20,732. On the face of it that looks quite appealing but it is a far cry from what I have been able to 'bank' as both winning and losing bets still have a role to play.

4.) Deduct no less than R 7,581 from that figure for betting tax on all the winning bets struck.
5.) Deduct a further R 1,465 + R205 in VAT for the Interbet fees.
6.) This leaves me with a nett win of R 11,481; the actual amount I have 'banked.

Now - if I were to be deemed a 'professional punter' by SARS I could be liable for a further deduction of up to 45% on my nett winnings (dependent upon my total income).

So it is not inconceivable that a successful professional punter could end up with a further deduction (for income tax) of another R 5,166.

Your gross winnings of R 20,732 could, therefore, end up as a nett, after tax amount of R6,314.

Don't even try doing this exercise if you bet on the tote or you will jump off the nearest building.

So racing is simply another redistribution exercise. You can do it slowly by winning. Or a lot faster by losing.

"A lot faster losing "

I am doing fine Garrick, thanks again for post .

I am calculating the "going into breeding costs" and the potential sale prices at the end of the long journey.

does not have to be that way......many ways of skinning a cat. you have a message

Dave Scott wrote: "A lot faster losing "

I am doing fine Garrick, thanks again for post .

I am calculating the "going into breeding costs" and the potential sale prices at the end of the long journey.

Someone once cautioned me that if you wanted to really accelerate your losses to warp speed then combine punting with breeding. Lol.

No matter, Dave, there will always be really good whisky here if you choose to visit. Certainly a few notches up from JWB. If you really want to spoil yourself order some Ardbeg Correyvreckan from Makro online (the only outlet where I have found it). The 57% ABV content should numb the pain of polytrack racing for you.

Cheers Garrick

JWB my day drink, have my own distillery for special occasions