Punter's $20,000 credit bet hits TAB

By MICHAEL GUERIN

New Zealand's best-known punter is at the centre of a betting controversy that has left the TAB $20,000 out of pocket and forced it to close one of its sub-agencies.

Although the TAB will not name the punter, the Herald has learned that Graham Bruton, nicknamed Steel Balls after a series of huge bets in the past five years, is responsible for the $20,000 losing bet.

A staff member at the Red and Black Tavern in Christchurch gave Mr Bruton $20,000 of credit to back Australia to beat South Africa in a ODI cricket match nine days ago.

Australia were not the only losers that night.

Mr Bruton did not pay the tavern and the TAB has withdrawn its sub-agency from the hotel.

Credit betting is against TAB rules, although some agents still allow the practice, especially for bigger clients. It usually works by a punter ringing a TAB agent, who then places the bet, without any money changing hands.

If the bet wins, the punter covers the bet and pockets the profit. If the bet loses the punter is supposed to pay the bet by the next banking day.

Tavern staff refused to comment on the incident yesterday. A night manager said: "We don't want to get any more in [trouble] than we are now."

The matter is in the hands of the TAB's audit department.

It has not been able to contact Mr Bruton. The Christchurch-based punter has a message on his phone saying he will be "out of Christchurch on business for some time".

Mr Bruton emerged from self-confessed years of battling as a punter when he collected more than $100,000 from the TAB in 1998 when Otago won rugby's NPC.

He used some of that money to buy the then-unheard-of racehorse Lyell Creek, which went on to become New Zealand's greatest trotter, winning more than $1 million.

Mr Bruton has sold nearly a one-third stake in the champion, which is now trained in the United States.