Among the many ways used
to boost income quickly,
gambling remains one of
the riskiest. It doesn’t matter
whether you select horses by
reading the form guide, by the
stars, with a pin or by spending
a considerable amount of money
on a computer gambling system.
Both the Australian
Competition and Consumer
Commission (ACCC) and the
Queensland Office of Fair
Trading have received complaints
from people who have bought
computer gambling systems for
amounts ranging from $1000 to
$15,000 or more. For their money
they have received a single disk,
or a calculator or a whole
computer system.
The promoters claimed they
were not selling a gambling
system but a business
investment. Don’t be fooled by
the absence of the word
"gambling" in the promotional
material. It is purely and simply
gambling and there are few
successful gamblers let alone
those who begin thousands of
dollars behind because they
bought a computer-based system.
Last September, Gold Coast
businessman Robert James Price
admitted to the Federal Court
that he had misled consumers,
and in one instance, had acted
unconscionably in the marketing
and sale of horse-betting
software.
The ACCC alleged that the
software, marketed under the
names of Autotab, Offtrack and
Solutions Software, had falsely
claimed to be able to predict
placegetters with high accuracy.
Those who paid up to $12,500
for the program were told they
could earn up to $8000 a month
and have a dream lifestyle.
The court found that the
program was gambling, not
investment, and punters could
not expect to profit. The ACCC
had the program tested and
believes that punters would
achieve a similar success rate by
following the TAB win favourite.
Many people have lost money
buying punting programs
(software or otherwise), which are
about as old as horse racing itself.
To expose some as shonky
would not put an end to them.
They keep bobbing up as
promoters prey on the eagerness
of punters to enjoy a permanent
winning streak.
Please remember that punting
programs are high-risk schemes.
Do not buy them if you cannot
afford to lose the money. Ask
yourself how a machine can
predict a gambling result where
luck is involved. You could also
ask why anyone would sell a
winning formula when they
could exclusively use it
themselves. If many are using it,
the weight of the money wagered
reduces the odds of winners.
Promoters of betting schemes
often produce lists of previous
winners at attractive prices.
Don’t be impressed by this as
you have no way of knowing
whether the lists are genuine.
Be wary of high pressure and
slick sales techniques as
promoters are often highly
skilled at selling. Especially
avoid those pushing "get rich
quick" schemes. Higher returns
mean higher risks but mainly for
you. The promoters will be the
only winners. They are not
gambling; you are.
If you enjoy a flutter keep it
at that and don’t be conned into
believing that the person trying
to sell you a sure-fire punting
system is doing you a good turn.
