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The NEB understands that whistleblowing can be difficult and stressful especially if a tipster is unsure whether a particular incident or allegation is reportable.
Another well-known racecourse tipster was Gully Gully who, unlike Prince Monolulu, didn't wear a headband of dyed ostrich plumes but sported a teacher's mortar board.
The tipster continued: "I lost an absolute fortune last year backing favourites, following form, trainers, jockeys and lineage.
Once a reward has been agreed upon, the tipster contacts the Crime Stoppers Coordinator to arrange for the pick up which takes place at an off-site location not staffed by police or Crime Stoppers personnel.
Once you have made your nap selection for the day, simply call the Tipster hotline before 11am that day and log your choice.
The other tipster, meanwhile, received P600,000 for providing information to military forces that led to the arrest of Abu Sayyaf member and cohort Suhud Yakan in May 2014 in Isabela, Basilan.
Last week the Office of Fair Trading said bogus tipsters cost punters about pounds 5million a year.
READY TO STRIKE: Rhinestone Cowboy (left) on the way to a victory that gave The Caggle Kids the first prize in The Pink tipsters competition
Alan McCabe, an IT researcher at James Cook University in Northern Queensland, Australia, has created the Artificially Intelligent Tipster (Mait) for Australian Rugby League - although it could be used for almost any sport.
DAVID Williams of Worcester takes his place in the winner's enclosure after the first week of our exciting new King of the Tipsters competition and runs away with prize money of pounds 500.
The Bureau of Internal Revenue (BIR) is looking into an alleged leak of confidential information obtained from tax tipsters.