"If you met him on the street, you would never think he's rich," a relative of the world's biggest punter, Zeljko Ranogajec, has been quoted as saying. That is a hard thing to believe, seeing as though the Australian is said to account for six to eight per cent of Tabcorp's $10 billion Australian betting turnover: $600 million to $800 million

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A report by the Herald Sun cites industry talk as saying that Ranogajec -- dubbed 'The Joker' by some -- employs a staff of 30 to 100 people just to analyze horse form.

The article states Ranogajec -- also dubbed the 'Loch Ness Monster' due to his rare public sightings -- is known to regularly plunk down more than $1 million on an individual race, and increases his bets as the prize pool grows.

The 48-year-old is reported to be vital to Australian wagering.

"If he stopped betting today, Australia's three TABs would be seriously affected, and Betfair (a global betting giant) would be in dire straits," one of Australia's most senior racing figures was quoted as saying. "He's that big a player."

Click here to read the Herald Sun article in its entirety.

(With files from the Herald Sun)