[AusRace] Cowboys

[L.B.Loveday]

The appalling lack of regulation of corporates is exemplified by MV race 2
and the late scratching of #5, around 6/1 throughout betting.

I backed the winner with 2 bookmakers; one (Neds) deducted 7.5% from the
face value (10.5% of winnings), the other deducted 22% from the face value
(29% of winnings). Sportsbet, who tend to be the fairest wrt deductions,
deducted 12%. I've not named the cowboy because I'm not yet barred. 

But governments are not interested in that, just in taxing punters - don't
fall for the line that bookmakers pay the tax; only need to look at how much
turnover tax is paid if no-one bets, whether with the TAB or bookmakers. 

 

LBL

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