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</o:shapelayout></xml><![endif]--></head><body lang=EN-AU link=blue vlink=purple><div class=WordSection1><p class=MsoNormal><span style='color:black;background:yellow;mso-highlight:yellow;mso-fareast-language:EN-US'>"</span><span lang=EN style='background:yellow;mso-highlight:yellow'>(Scott used to buy lottery tickets, saying where else can one win $1m for $1)"</span><span lang=EN><o:p></o:p></span></p><p class=MsoNormal><span lang=EN><o:p> </o:p></span></p><p class=MsoNormal><span lang=EN>Of course that $1m was equivalent to a lot more today.<o:p></o:p></span></p><p class=MsoNormal><span lang=EN><o:p> </o:p></span></p><p class=MsoNormal><span lang=EN>The Mega Jackpot is currently in big positive mathematical expectation territory:<o:p></o:p></span></p><p class=MsoNormal><span lang=EN><o:p> </o:p></span></p><p class=MsoNormal><span lang=EN>200,000 tickets sold @ $5.50 = $1,100,000<o:p></o:p></span></p><p class=MsoNormal><span lang=EN><o:p> </o:p></span></p><p class=MsoNormal><span lang=EN>4218 prizes from $200,000 to $12, = $314,725<o:p></o:p></span></p><p class=MsoNormal><span lang=EN>+ 8436 free tickets, say $3 each rather than $5.50 = $25,308<o:p></o:p></span></p><p class=MsoNormal><span lang=EN>$52,000,000 jackpot with 4,218/200,000 probability of being won = 52,000,000*4,218/200,000 = $1,096,680<o:p></o:p></span></p><p class=MsoNormal><span lang=EN><o:p> </o:p></span></p><p class=MsoNormal><span lang=EN>Total 314,725 + 25,308 +1,096,680 = $1,466,239<o:p></o:p></span></p><p class=MsoNormal><span lang=EN><o:p> </o:p></span></p><p class=MsoNormal><span lang=EN>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!<o:p></o:p></span></p><p class=MsoNormal><span lang=EN><o:p> </o:p></span></p><p class=MsoNormal><span style='color:black;mso-fareast-language:EN-US'><o:p> </o:p></span></p><p class=MsoNormal><span style='color:black;mso-fareast-language:EN-US'><o:p> </o:p></span></p><div><div style='border:none;border-top:solid #E1E1E1 1.0pt;padding:3.0pt 0cm 0cm 0cm'><p class=MsoNormal><b><span lang=EN-US>From:</span></b><span lang=EN-US> Racing <racing-bounces@ausrace.com> <b>On Behalf Of </b>L.B.Loveday<br><b>Sent:</b> Tuesday, 2 April 2019 12:21 PM<br><b>To:</b> 'AusRace Racing Discussion List' <racing@ausrace.com><br><b>Subject:</b> Re: [AusRace] BetEasy defies MBL legislation<o:p></o:p></span></p></div></div><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal><span style='color:black;mso-fareast-language:EN-US'>Here are extracts from Racing Victoria's MBL. <o:p></o:p></span></p><p class=MsoNormal><span style='color:black;mso-fareast-language:EN-US'><o:p> </o:p></span></p><p class=MsoNormal><span style='color:black;mso-fareast-language:EN-US'><o:p> </o:p></span></p><p class=MsoNormal><span style='color:black;mso-fareast-language:EN-US'>**********************<o:p></o:p></span></p><p class=MsoNormal><span style='color:black;mso-fareast-language:EN-US'><o:p> </o:p></span></p><p class=MsoNormal style='margin-bottom:10.0pt;text-autospace:none'><span lang=EN>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:<o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:10.0pt;text-autospace:none'><span lang=EN> Refusing to accept a fixed odds bet<o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:10.0pt;text-autospace:none'><span lang=EN> Closing a person’s account<o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:10.0pt;text-autospace:none'><span lang=EN> Refusing to open a person’s account<o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:10.0pt;text-autospace:none'><span lang=EN> Placing any restrictions on a person’s account in relation to Victorian thoroughbred racing product<o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:10.0pt;text-autospace:none'><span lang=EN> Refusing to lay fixed odds to any person when those fixed odds are publicly displayed*<o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:10.0pt;text-autospace:none'><span lang=EN> Laying lesser odds to a person than those publicly displayed<o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:10.0pt;text-autospace:none'><span lang=EN> Any other act or refusal to do an act in order to avoid these provisions<o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:10.0pt;text-autospace:none'><span lang=EN><o:p> </o:p></span></p><p class=MsoNormal style='text-autospace:none'>* Publicly display odds, means to display odds to the public generally including, but not limited to:<o:p></o:p></p><p class=MsoNormal style='text-autospace:none'>(a) on a semaphore board, or<o:p></o:p></p><p class=MsoNormal style='text-autospace:none'>(b) at an electronic betting terminal, or<o:p></o:p></p><p class=MsoNormal style='text-autospace:none'>(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<o:p></o:p></p><p class=MsoNormal style='margin-bottom:10.0pt;text-autospace:none'><span lang=EN><o:p> </o:p></span></p></div></body></html>