Legendary bookmaker Bill Waterhouse dies at the age of 97

Bill Waterhouse, one of Australia's legendary bookmakers, has died at the age of 97.

His son Robbie tweeted the news on Friday morning, revealing: "He left us peacefully with his family by his side. He was in great spirits until the end."

Waterhouse began working as a bookmaker's clerk for his father in 1938 and by the 1960s was Australia's biggest bookie and famous for taking on some of the biggest gamblers of the day including Kerry Packer and Felipe Ysmael.

Robbie, who married Tommy Smith's daughter Gai, followed his father into bookmaking. Both men were caught up in the Fine Cotton scandal in 1984 and while Bill Waterhouse was ultimately cleared of any wrongdoing, he was warned off racetracks for 14 years.

He did return for a time at the age of 80 when he helped his grandson Tom, a fourth-generation bookmaker, establish his business.

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