 The profits paid to Ranogajec and his partners virtually wiped out the profits of the Tote Tasmania Pty Ltd, to the extent that Treasurer of Tasmania was reduced to selling off the entire business to Tabcorp Holdings.Ranogajec headed a group known as the Punters Club, consisting largely of math-inclined gambling geeks, reportedly including high-stakes poker player David Steicke.The Club is believed to have contributed over $1b annually to Aussie TAB outfits’ turnover but generated significant controversy in 2011 when it was reported that Tote Tasmania was offering lucrative rebates to such whales while slashing odds on rank-and-file punters to balance the books.