Known as “The Joker”, the Australian is an incredibly successful advantage gambler – but what is Zeljko Ranogajec’s net worth?
Ranogajec turned a few hundred dollars into millions at the blackjack table. Working with fellow professional gambler Alan Woods, he later set up his own betting syndicate, known as the Bankroll.
Focused primarily on horse racing, Ranogajec’s syndicate places bets worth more than $3 billion per year.
Regardless of the success of those bets, he still makes money through bookies discounts and rebates on his extremely large bets.
Although generally a private man, his fortune is well known. Ranogajec reportedly owns a property at One Hyde Park, the most expensive apartment building in the world.
Incredibly, bets placed by his syndicate are believed to account for one third of Betfair Australia’s total operations.
Zeljko Ranogajec Bio
Born in Australia in 1961, Ranogajec is the son of Croatian immigrants. He studied commerce and law at the University of Tasmania, and began counting cards as the Wrest Point Casino.
It was there that he met future wife and business partner, Shelley Wilson, an employee at the casino.
He relocated to New South Wales but is now based in London. Known for betting on horse racing, blackjack and other forms of advantage gambling, Ranogajec is one of the top professional gamblers in the world.
Gambling Career
According to his peers, Zeljko Ranogajec was one of the most prolific and innovative advantage players in blackjack history.
Starting with a few hundred dollars, he won millions working with Alan Woods in the 1980s. He was eventually banned from most casinos in Australia.
The quantity of bans earned him the nickname “The Joker”, and in 2011 he was inducted into the Blackjack Hall of Fame.
Ranogajec reportedly won a $7.5 million Keno jackpot in 1994. He reportedly bet significantly more than $7.5 million, but finished ahead due to winning several smaller prize pots along the way.
Turning his attention to horse racing, Ranogajec deployed a detailed strategy of advantage betting. Identifying small margins and betting big, he built a good relationship with the bookies.
He reportedly accounts for 6-8% of Australian bookmaker TabCorp’s $10 billion annual revenue, and a third of Betfair Australia’s total operations.
Organising an extensive network of spotters, analysts and bettors, Ranogajec provides employment to over 300 people in Australia.
Zeljko Ranogajec Controversies
The large rebates he was offered by bookies on some of his massive bets sparked controversy, but investigations found “no evidence of illegal activity”.
But the Australian Taxation Office (ATO) has looked into his activities on numerous occasions.
Due to his incredible success, he has been investigated consistently over the last 25 years. But with the ATO and Ranogajec in dispute, a settlement was agrees in 2012.
The details of the deal remain confidential, but are believed to relate only to activities from 2004-2011.
Zeljko Ranogajec Net Worth
First appearing in the Australian Financial Review Rich List in 2019, Zeljko Ranogajec’s net worth has been assessed at A$600 million.
In 2021 his net worth was reported at A$610 million. However, he has denied suggestions that he is the world’s biggest punter.
He said: “I believe that’s completely untrue” and that the reports of his wealth are “all just a big exageration.”
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