Aussie analyst charged for betting on horse he didn't tip on TV

[foregoforever]

Sorry about the title, but it's the best I could do. It's a pretty interesting case down under.

http://www.thoroughbrednews.com.au/australia/default.aspx?id=82427

The analyst (Zerafa) got a pre-race tip from a fellow (Camilleri) who has been implicated in a cobalt and milkshaking operation. The tip was via text message, and I assume it was uncovered in investigating Camilleri.

The interesting part is that Zerafa bet on the horse, but tipped two other horses in his on-air and on-track tips for the race. Because of that, the New South Wales stewards have charged him with "conduct prejudicial to the image of racing". Zerafa has been suspended by his employer pending resolution of the case.

Australia has its problems with crooks and cheats just like everywhere else, but they take the integrity thing pretty seriously. I wish they could come over here and look for "conduct prejudicial".

[Stillriledup]

Do we all think this is somewhat similar to analysts in the USA tipping out horses they aren't betting with their own money? I know, it's not nearly as bad, but it's still an integrity issue when someone on tv is telling you to 'bet this' and they're not betting it themselves.

Also, on these pick 6s that are given out by certain networks, has an analyst ever added or subtracted a horse on his real life ticket after the fact?

[thaskalos]

Do we all think this is somewhat similar to analysts in the USA tipping out horses they aren't betting with their own money? I know, it's not nearly as bad, but it's still an integrity issue when someone on tv is telling you to 'bet this' and they're not betting it themselves.


I don't see the "integrity issue". The TV analyst gets paid to supply selections for every race. Does "maintaining his integrity" mean that he should be betting his own money on every race on the card?

[Stillriledup]

I don't see the "integrity issue". The TV analyst gets paid to supply selections for every race. Does "maintaining his integrity" mean that he should be betting his own money on every race on the card?

If you are recommending wagers and not betting them yourself, I don't know, you tell me.

Wouldn't it be more 'integrous' if they only recommended bets they were playing themselves ?

[rastajenk]

PFP if you ask me...(pretty/petty).

Should Jim Cramer have a piece of every company he touts on Mad Money?

[whodoyoulike]

PFP if you ask me...(pretty/petty).

Should Jim Cramer have a piece of every company he touts on Mad Money?

I believe there is a rule (otherwise penalties are assessed) that you need to disclose when you do own a stock you "tout" on TV.

What's wrong if the handicapper / analyst recommends a horse for something but indicates (s)he is not betting because .....

[foregoforever]

The point is not that he should always wager on the horses that he tips. It's that he steered the punters onto other horses in order to increase his payoff.

There's also the feeling that this was a tip from someone who was apparently doing dirty things, so it was thus a dirty tip. Of course, whether Zerafa knew that Camilleri was doing dirty things is not known. The race was back in January, before the whole cobalt-milkshaking thing hit the press.

The debate has been lively on the Aussie boards, such as ...

http://forum.thoroughbredvillage.com.au/brent-zerafa-the-plot-thickens_topic55220.html

[Stillriledup]

PFP if you ask me...(pretty/petty).

Should Jim Cramer have a piece of every company he touts on Mad Money?

Im not suggesting cramer own every company he touts, but wouldnt there be more integrity to what he talks about if he says which touted stocks are ones he doesnt plan on owning?

[098poi]

The point is not that he should always wager on the horses that he tips. It's that he steered the punters onto other horses in order to increase his payoff.

There's also the feeling that this was a tip from someone who was apparently doing dirty things, so it was thus a dirty tip. Of course, whether Zerafa knew that Camilleri was doing dirty things is not known. The race was back in January, before the whole cobalt-milkshaking thing hit the press.

The debate has been lively on the Aussie boards, such as ...

http://forum.thoroughbredvillage.com.au/brent-zerafa-the-plot-thickens_topic55220.html

That's about as clear as you can state it.

[AndyC]

Im not suggesting cramer own every company he touts, but wouldnt there be more integrity to what he talks about if he says which touted stocks are ones he doesnt plan on owning?

He always says which ones he or his trust owns so by default you know which ones he doesn't own.

[Stillriledup]

He always says which ones he or his trust owns so by default you know which ones he doesn't own.

Thanks. I don't know much about 'Cosmo' Cramer, I was just using Rastas example. Seems Cramer is more forthcoming than some racing touts.

[WP1981]

A few years back Bruno owned a horse that he didn't include in his four selection per race tip sheet. It was a 9 horse field and the horse paid in the $30+ range. I then watched him gush post race about how well the horse was training.

Maybe he didn't think the horse would win that day..but not exactly the kind of guy I would trust to buy workout reports from.

[horses4courses]

As a profession, touting horses demands some integrity.

Analysts that we watch on TVG, for example, aren't paid enough
to bet every race they handicap. Now, if the company gave them
an allowance which was for their own personal betting only,
that would be different. I'm sure that will never happen but,
if it did, the race analyst would be under some obligation
to bet on his/her selections, or at least not bet against them.

To me, the Australian situation seems like grounds for termination.
There was an attempt to deceive the public for his own gain.

[horses4courses]

A few years back Bruno owned a horse that he didn't include in his four selection per race tip sheet. It was a 9 horse field and the horse paid in the $30+ range. I then watched him gush post race about how well the horse was training.

Maybe he didn't think the horse would win that day..but not exactly the kind of guy I would trust to buy workout reports from.

Please be more specific.
Name of the horse, for instance.

[Hoofless_Wonder]

Mr Zerafa’s betting records on the said race have also been obtained which identified a wager on Palazzo Pubblico to win Race 3. The hearing of the charge will take place at a time and date to be fixed.

I'd be curious how much he bet and won compared to his salary.

[mountainman]

I get lots of tips and am usually asked to not select those horses on air. Since most tips are white noise concerning runners I don't like to begin with, silence is not a problem and probably is a service to our audience. If I DO like the horse, I simply pick it on the air.

Occasionally, if the source is reliable and the "inside steam" strikes me as potentially invaluable, I'll let it drop on air that there's some "buzz" about a horse. Then the viewer can decide how to proceed.

[thespaah]

Do we all think this is somewhat similar to analysts in the USA tipping out horses they aren't betting with their own money? I know, it's not nearly as bad, but it's still an integrity issue when someone on tv is telling you to 'bet this' and they're not betting it themselves.

Also, on these pick 6s that are given out by certain networks, has an analyst ever added or subtracted a horse on his real life ticket after the fact?
I don't care of the public handicapper does not bet the horses he or she touts.
What bothers me is when they bet other horses in said race and throw out of their bets, their public selection.
The latter is BAD....

[thespaah]

If you are recommending wagers and not betting them yourself, I don't know, you tell me.

Wouldn't it be more 'integrous' if they only recommended bets they were playing themselves ?
What difference does it make if the 'capper plays the horse(s) or not?
In my book as long as ashe's/he's not betting other horses while ignoring his/her own picks, I'm fine with that.

[BMustang]

Thank God that Leo Underhill (River Downs) has gone to his eternal reward.

This thread would make him real jittery.