David Walsh reveals how he pulled off the biggest bet and won $60m in the German Lotto

A professional bettor has revealed how he made the biggest bet of his life and won over $60 million in a German lottery.

David Walsh, who founded popular Tasmanian art gallery MONA north of Hobart, said he was part of a syndicate that spent $11million to buy one million lottery tickets six years ago month.

The massive victory marked one of his two biggest wins, including a $63 million windfall at a horse race in Japan on Christmas Eve.

A professional bettor (pictured, David Walsh) has revealed how he made the biggest bet of his life and won over $60m in the lottery in Germany

David Walsh, who founded the MONA art gallery (pictured) north of Hobart in Tasmania, said he was part of a syndicate that spent $11million to buy one million lottery tickets there six months ago.

David Walsh, who founded the MONA art gallery (pictured) north of Hobart in Tasmania, said he was part of a syndicate that spent $11million to buy one million lottery tickets there six months ago.

Mr Walsh said he only found out about the huge win a week later.

He made the candid admission while addressing domestic and international investors at the Sohn Hearts and Minds Conference in Hobart, Tasmania on Friday.

Mr Walsh is a professional gambler who made his fortune playing cards, betting on horse races and risking it all in lotteries, Australian Financial Review reported.

He is part of a successful syndicate led by his friend and wealthy listener Zeljko Ranogajec, with the group betting around $10 billion a year.

“Finding a system that works, is stable, and works for a long time is extremely difficult,” Walsh said.

“If you have a system that has been running for 20 years, it’s not because of your skills. You acquire the system that worked by chance, and then once it worked, it might continue to work.

Mr Walsh joked that it was one of the worst decisions he made in life to become a player, despite his huge earnings.

He said the risk of failing as a player was much higher than succeeding, with around nine in 10 people going bankrupt.

The humble player attributed his success to luck, saying the same principle applied to investors and successful bosses.

Mr Walsh said his life was not as glamorous as it seemed with the veteran player locked in a

Mr Walsh said his life was not as glamorous as it seemed with the veteran player locked in a

Mr Walsh said his life was not as glamorous as it seemed with the veteran gambler locked in an “endless fight” with the Australian Taxation Office.

“The cohort here is probably a mostly successful cohort,” he said.

“But there is another cohort [that] would fill a stadium with people, who had similarly performed appropriate strategies, who either overplayed them or simply chose strategies that didn’t work in the long run or failed to sustain those strategies.

“But there is no difference in the skill level of those who failed and those who succeeded.”

Mr Walsh said his life was not as glamorous as it seemed with the veteran gambler locked in an “endless fight” with the Australian Taxation Office.

His gambling activities over the years landed him in hot water with the ATO when he was told to pay $37 million due to the money he made punting.

The outstanding debt was resolved in 2012.

‘About every 10 years I lose. And between those 10 years, I don’t win,” Mr. Walsh said.

“We have a deal where I give them a lot of money and they say, ‘I want more’.”

. David Walsh reveals pulled biggest bet won #60m German Lotto