[AusRace] BetEasy defies MBL legislation

[L.B.Loveday]

"(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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