Thoughts on the Cup

I've answered questions on competitions vs. gambling for a number of years. To me, the two are distinctly different, as I don't know of too many people that have lost their shirts on consumer competitions. The good thing about the Melbourne Cup is that it gives once-a-year types like me the chance to pretend I know something about horses, all gained in a half hour gander of the racing pages.

I put on around $30 at the most, and whinge when I invariably lose it, but it's all in the name of fun.

When it comes to realtime gambling I'm neither for or against it, I just don't happen to take part. I hate problem gambling and I wish it didn't exist, then again it would be great if a lot of things simply didn't happen.

I was a mathematical dunce at school, but my career lead me to need to know fairly high level statistics. The more you learn about stats the more you understand how gambling is a losers game.

Even if you can't add two numbers together, the best lesson I always use is to take a good look at Panthers Leagues Club, Star City or Crown Casino. These Taj Mahal's weren't built from people winning money ......

Yours Comp-letely,

Craig Seitam 3/11/09

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