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Chinese man wins ¥1.8 billion from betting on Japanese horse races

30 Comments
By Ingrid Tsai, SoraNews24

Though many forms of gambling are illegal in Japan, one of the few ways people can legally gamble is through keiba, or betting on horse races. Strictly overseen by Japan’s Ministry of Agriculture, horse races run continuously throughout the year, frequented by listless middle-aged men and local gambling hobbyists.

However, for one Chinese man in his 30s who resided in Nagoya, betting on horse races was a lucky side gig as he was able to win 1.8 billion yen from his bets.

How did he do it? According to the Chunichi Shimbun, the Chinese man was able to amass 1.8 billion yen in winnings by using a special software program that predicted the winning horse of a race. In addition to using this software program, the Chinese man also received a hefty amount of financial capital from Chinese investment groups.

Using the software program, the extra funds, and online horse race betting websites, the Chinese man technically won 9.5 billion yen total but 7.7 billion yen was subtracted due to the cost of buying betting tickets.

While it’s unknown if the Chinese man was supposed to split his winnings with the investment groups that graciously provided him money, needless to say, many netizens were shocked as well as amused:

“Okay but like… what does he get after taxes?”

“I’m honestly having a hard time believing this. You sure this isn’t fake news?”

“Does he have a spare copy of the software?”

“Now that’s a story anyone can be honestly jealous of.”

“As long as you’ve got that capital, you can win at anything if you just spend it all!”

Unfortunately for the Chinese man though, he hid his gambling earnings and it wasn’t until he had to file his tax return that the Nagoya Tax Bureau discovered his secret. But even after coughing up the amount for his taxes and a heavy fine, the man was still left with 800 million yen.

The gambler who ran out of luck has returned to China, according to his mother who still resides in Japan.

Source: Chunichi Shimbun via Hamusoku

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© SoraNews24

©2020 GPlusMedia Inc.

30 Comments
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Plausible. Well done, anonymous Chinese guy. Can I buy you some ramen?

-3 ( +3 / -6 )

I wonder if any Japanese corporations have ever been fined 1 billion yen for misreporting finances. What a ridiculous amount of money for one person to pay as punishment

8 ( +9 / -1 )

hey, congratulations. using software like that isn't teaching, it's just plain smarts. I wonder why Japan wouldn't just allow gambling in the country since there are already several gray area gambling operations going on.

2 ( +3 / -1 )

I bet whoever invested in him is waiting for him to return to china and strip him bare. And losing 1billion yen to fines is not gonna make his investors any happier.

9 ( +9 / -0 )

Good job Chinese man!

0 ( +4 / -4 )

Resourceful chap!

1 ( +4 / -3 )

"I wonder if any Japanese corporations have ever been fined 1 billion yen for misreporting finances. What a ridiculous amount of money for one person to pay as punishment"

I hope you're aware of the following:

Company pays: Corporation Tax.

Individual pays: Income/GCT (Capital Gains) Tax.

Rates are different.

This is how it is in the UK/EU/America.

Even in Eswatini.

Don't know about Japan though.

-10 ( +0 / -10 )

”Now the chinese Triads are looking for him and any other thieves that don’t want to work

-5 ( +3 / -8 )

I wonder if any Japanese corporations have ever been fined 1 billion yen for misreporting finances.

That was the total amount he paid, not the fine. Short term capital gains in Japan are taxed, at worst, at 55%. If that was the case, his fine was about 10 million yen. I agree 60% is too much, but that's the way taxes work. Large companies can use accounting tricks to minimize taxes, but when an ordinary person makes a life-changing amount of money in a year, they get nailed. It can feel like the system is rigged against ordinary people that way. One good year in their life, and it mostly gets taken away.

6 ( +6 / -0 )

Investment groups pumping money into a guy betting on horses? Smells a lot like money laundering there...

5 ( +6 / -1 )

special software program that predicted the winning horse of a race.

I find that hard to believe, what parameters does the program use that it can accurately predict the winner???

If the program predicts winners whose odds were high, wouldn’t the winnings be lower?

5 ( +5 / -0 )

The most important is which countries and how much do they get so the winner knows what is left.

0 ( +0 / -0 )

If such software exists, it should be applicable to horse betting anywhere, not just Japan. Why didn't he bet in the world's many jurisdictions with lower taxes than in Japan?

3 ( +4 / -1 )

If such software exists, it should be applicable to horse betting anywhere, not just Japan. Why didn't he bet in the world's many jurisdictions with lower taxes than in Japan?

Presumably because he lived in Japan.

3 ( +3 / -0 )

Maybe there are some exceptionally gifted individuals in the world, no?

-1 ( +0 / -1 )

Maybe the software was a trial run, and now he will go back to China with proof. He will get more investors and run the markets from China.

He probably also fled Japan incase anymore penalties pop up!

3 ( +3 / -0 )

Good news finally!

0 ( +1 / -1 )

It doesn't have to be accurate or 100%. It's all about odds.

2 ( +2 / -0 )

So how much do the tax people demand when one wins local lot lotteries in Japan, say like a ¥500M win?

0 ( +0 / -0 )

I think the lottery in Japan is tax-free. As it should be!

1 ( +1 / -0 )

But even after coughing up the amount for his taxes and a heavy fine, the man was still left with 800 million yen.

Being a gaijin AND a Chinese one at that, he's lucky he got anything at all.

1 ( +2 / -1 )

I’m very sceptical of the idea of software programs which can reliably predict the results of horse races over a long period of time. I’d like to see the win percentage with a breakdown of the number of races, money staked and odds ( particularly how much the stakes varied depending on odds ). A low percentage win with big stakes on a couple of long odds winners can see you make a tidy profit.

I bet on football I’ve made the kind of percentage profit you see here over a season but usually I don’t.

Sometimes you can get lucky and it’s great when you do.

2 ( +2 / -0 )

There are any number of software programs to enhance the gambling chance of success. Some are much better than others.

They cannot predict winners, just increase the probability based on all available data. Professional punters lives have become easier due to these programs. Poker on the other hand requires pure skill(& luck) to decrease the odds as electronic aids are not allowed.

And I assume the critical point in his success is he had access to an extremely large amount of money. He may have well lost many times, but had the backup to cover his losses.

My father's friend in the 70's was a pretty successful real estate agent with I guess quite a bit of cash.

He was a racing nut - analyzed all the data from the racing newspapers - and his system was to place a modest bet of say A$100. If he lost he would double up his next bet in accordance with the odds on offer. I recall my father telling me his friends longest losing streak was 15 or so times. But when that final win occurred - well it was bonanza time. He had the resources to do such.

Unfortunately that is also the crux of the gambler's addiction - I gotta win sometime. Well yes & no. The science of probability says yes, but there are no guarantees.

3 ( +3 / -0 )

I don’t know, why there is a discussion about that. You can buy it too, it is even available in printed form, translated from Chinese, for some years now. The obstacle point is, you need some staff and money or in better words, personal and financial background resources. Like most, I don’t have both, too.....rofl

0 ( +0 / -0 )

I have a system that I use in casinos outside japan. I win 90% of the time. I stop at ¥20000 and go to a nice restaurant. Only ever been kicked out of one casino using my system.

the secret to my winning is “don’t be greedy”!

1 ( +1 / -0 )

Aw, pull the other leg

0 ( +0 / -0 )

And he only had to spend 7.7 billion to finally get 1.8 billion more and then have the government thieves steal a billion of it. Sounds to me like his program doesn't work and he just got lucky until the tax devils caught up with him.

In my world though, 800 million yens buys a lot of revenge. Just sayin.

0 ( +0 / -0 )

I find that hard to believe, what parameters does the program use that it can accurately predict the winner???

I'd assuming he bought tens of thousands of different bets going for the most likely top 3 and multiple races as the software suggested.

Las Vegas is built on just 4% of the money going through the gambling. Different games have different legally mandated returns, but over all, 96% of the "play" must be returned as winnings over time.

My secret for betting on animal races - look for the pre-race dump. Works well for the weenier-dog nationals races. https://en.wikipedia.org/wiki/Wiener_Nationals but not really for horses or other dogs. ;(

0 ( +0 / -0 )

the Chinese man technically won 9.5 billion yen total but 7.7 billion yen was subtracted due to the cost of buying betting tickets.

So are we just gonna ignore the fact that this guy spent 7.7 bil. just to make 1.8 bil?

0 ( +0 / -0 )

So are we just gonna ignore the fact that this guy spent 7.7 bil. just to make 1.8 bil?

If I'm doing my math right, that's 24% ROI. Which is pretty good.

0 ( +0 / -0 )

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