Legacy Satchel

Legacy Satchel

Bill Waterhouse: Australian Bookmaker

The 1954 Epsom Day launched the career of bookmaker Bill Waterhouse, who continued the family's rich legacy in Australian horseracing. Born in 1922, Waterhouse went on to obtain a degree in Law at Sydney University in 1948. During his years as a student, he continued to work as a bookmaker's clerk with his father from 1938. In spite of becoming a barrister in 1948, Waterhouse left the profession in order to pursue a full-time career as a bookmaker after the untimely demise of his brother, Charles, and became the head of the Waterhouse racing dynasty.

Waterhouse's interests extended to journalism and reporting where he wrote a regular column for The Daily Telegraph, the Sun, and also ran his own racing newspaper, The Referee. His articles also featured in the Sunday Telegraph, The Bulletin, and the SMH Good Weekend. 'Big Bill' built up a great presence in Melbourne for a decade, representing the Sydney betting ring.

In the 1960s, Waterhouse pitted himself against giant punters like the 'Hong Kong Tiger' Fred, which added to the fame already garnered by the Waterhouse family, making 'Big Bill' the biggest satchel swinger in the world. The giant punters did not frighten Waterhouse at all, losing $1 million in 1968, with the media billing him the biggest gambler in the world. Bookmakers have always had to contend with accusations of rigging, and substitutions, and Waterhouse had his fair share of controversy beginning with a doping incident during the Melbourne Cup in 1969 which involved co-favourite Big Philou. However, the bookmaker was cleared of any accusations by AJC officials who proved he was not working on the race.

Along with his son, Robbie, Waterhouse was involved in the Fine Cotton affair, where once again the AJC revoked their bookmakers' licenses, alleging that the family had 'prior knowledge' of the Fine Cotton ring-in. However, Waterhouse reiterated his innocence, while son, Robbie, in 1992, served eight months periodic detention for perjury before the Racing Appeals Tribunal. His bookmaker's license was reinstated in 2002 where at the age of 80 he came back to teach his trade to grandson, Tom Waterhouse, who as a team went on to become the biggest on-course bookmakers in 2007 and 2008 including Sydney Turf Club's most improved bookmaker award in 2004.

Apart from being a successful bookmaker, Waterhouse is an astute businessman with a successful real estate business, building the first strata-tilted homes in New South Wales in addition to a hotelier's license. His foray into the business world includes mining and the setting up of international betting shops. While the money keeps rolling in through the betting ring, Waterhouse still finds time to serve as the Honorary Consul-General for the Kingdom of Tonga, a position he acquired due to his friendship with the heir to the throne of Tonga during his days at Sydney University's Law School. Undoubtedly, there have been times when 'Big Bill' has often turned over more than the tote. According to 'Big Bill', his bookmaking principles remain the same.

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