Raymond Is a Hotelier Who Also Races His Own Horses

Raymond is a hotelier who also races his own horses and horses under lease and who devotes a substantial amount of his time to the activity of horse racing. He bets frequently and systematically using valuable racing information which he acquires from trainers and others and he also uses agents to place bets for him. Is Raymond likely to be assessable on any proceeds from his betting on horse races?

A) Yes, as any cash winnings from gambling are always assessable
B) Yes, as his betting activities are systematic, organised and business like
C) No, as proceeds from gambling are not assessable due to the risk involved
D) No, if Raymond keeps no records of his winnings