Foolish Pleasure
01-28-2008, 11:42 AM
The world's most successful horse-racing gambler, Australian Alan Woods, died in Hong Kong on Saturday night.
Woods, 62, recently diagnosed with appendiceal cancer, is believed to have suffered a pulmonary embolism. He had begun chemotherapy treatment two weeks ago and passed away in the intensive care unit of the Sanitorium Hospital at Happy Valley in the presence of family and friends.
Born in 1945 in Murwillumbah, New South Wales, Woods showed an early aptitude for mathematics at school but was a losing punter in his earliest days at university and gambling played little part in his life until his 30s.
Working as an actuary in the late 1970s, Woods learned to count cards at blackjack and became a serious gambler for the first time in his life, travelling the world for three years as a professional card counter and undertaking all kinds of disguises and subterfuge to avoid identification by the world's casinos.
But his earnings at blackjack were tiny compared with his subsequent career in racing. Woods turned to horseracing in New Zealand in 1982 then shifted his life and focus to Hong Kong, and its big pools, in 1984.
A founding partner in the earliest computer betting team in Hong Kong, which split after a dispute between the partners in the early 1990s, Woods established his own hugely successful betting operation, with employees based around the world and had built a fortune estimated at more than US$600 million before his death.
Even as Woods grew to the point of dominating the Hong Kong betting scene in recent years, even over and above other successful computer teams, he also enjoyed his wealth and was famed in Hong Kong racing circles for his bacchanalian parties and celebrations.
Once a regular in Wan Chai's bars and nightclubs, Woods had become more reclusive and relocated to Manila several years ago, but his operation continued to annually lay out between one and two per cent of Hong Kong's entire racing turnover (which totalled US$64 billion in the last completed season).
He is survived by two ex-wives, two sons and a daughter.
"My father achieved great success at something so many people dream of doing well and fail to achieve but, along the way, he also provided jobs and support for so many friends - he kept them close to him and brought so many people together," said his daughter, Victoria, yesterday
Woods, 62, recently diagnosed with appendiceal cancer, is believed to have suffered a pulmonary embolism. He had begun chemotherapy treatment two weeks ago and passed away in the intensive care unit of the Sanitorium Hospital at Happy Valley in the presence of family and friends.
Born in 1945 in Murwillumbah, New South Wales, Woods showed an early aptitude for mathematics at school but was a losing punter in his earliest days at university and gambling played little part in his life until his 30s.
Working as an actuary in the late 1970s, Woods learned to count cards at blackjack and became a serious gambler for the first time in his life, travelling the world for three years as a professional card counter and undertaking all kinds of disguises and subterfuge to avoid identification by the world's casinos.
But his earnings at blackjack were tiny compared with his subsequent career in racing. Woods turned to horseracing in New Zealand in 1982 then shifted his life and focus to Hong Kong, and its big pools, in 1984.
A founding partner in the earliest computer betting team in Hong Kong, which split after a dispute between the partners in the early 1990s, Woods established his own hugely successful betting operation, with employees based around the world and had built a fortune estimated at more than US$600 million before his death.
Even as Woods grew to the point of dominating the Hong Kong betting scene in recent years, even over and above other successful computer teams, he also enjoyed his wealth and was famed in Hong Kong racing circles for his bacchanalian parties and celebrations.
Once a regular in Wan Chai's bars and nightclubs, Woods had become more reclusive and relocated to Manila several years ago, but his operation continued to annually lay out between one and two per cent of Hong Kong's entire racing turnover (which totalled US$64 billion in the last completed season).
He is survived by two ex-wives, two sons and a daughter.
"My father achieved great success at something so many people dream of doing well and fail to achieve but, along the way, he also provided jobs and support for so many friends - he kept them close to him and brought so many people together," said his daughter, Victoria, yesterday