[AusRace] BetEasy defies MBL legislation

L.B.Loveday lloveday at ozemail.com.au
Tue Apr 2 20:49:44 AEDT 2019

"(Scott used to buy lottery tickets, saying where else can one win $1m for $1)"


Of course that $1m was equivalent to a lot more today.


The Mega Jackpot is currently in big positive mathematical expectation territory:


200,000 tickets sold @ $5.50 = $1,100,000


4218 prizes from $200,000 to $12, = $314,725

+ 8436 free tickets, say $3 each rather than $5.50 = $25,308

$52,000,000 jackpot with 4,218/200,000 probability of being won = 52,000,000*4,218/200,000 = $1,096,680


Total 314,725 + 25,308 +1,096,680 = $1,466,239


So it's a 1,466,239/1,100,000 = 1.33 game, viz a positive expectation of 33%. And where there is a +33% expected return, count me in!




From: Racing <racing-bounces at ausrace.com> On Behalf Of L.B.Loveday
Sent: Tuesday, 2 April 2019 12:21 PM
To: 'AusRace Racing Discussion List' <racing at ausrace.com>
Subject: Re: [AusRace] BetEasy defies MBL legislation


Here are extracts from Racing Victoria's MBL. 





An approved WSP must not do any act or refuse to do any act to avoid complying with the bet limits, including but not limited to:

    Refusing to accept a fixed odds bet

    Closing a person’s account

    Refusing to open a person’s account

    Placing any restrictions on a person’s account in relation to Victorian thoroughbred racing product

    Refusing to lay fixed odds to any person when those fixed odds are publicly displayed*

    Laying lesser odds to a person than those publicly displayed

    Any other act or refusal to do an act in order to avoid these provisions


* Publicly display odds, means to display odds to the public generally including, but not limited to:

(a)  on a semaphore board, or

(b)  at an electronic betting terminal, or

(c)  on a website without requiring a person to identify himself or herself (for example, by requiring a person to log in or to provide personal information


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