GAMBLING:
Still The Same Message
(Investigator 218, 2024 September)
A recent loser
The Sunday Mail
recently reported: "Accountant robbed $2m from 85 super funds to fuel
his gambling habit". To lose $2 million of other people's money the
accountant placed more than 67,000 Sportsbet bets in three years! He
was sentenced to 7 years.
Years ago
Years ago Investigator
regularly promoted the message that to gamble when the odds are against
you will usually lead to loss. To expect otherwise — to expect to
control chance and be "lucky" — is a foolish, anti-science, paranormal
expectation.
Investigator used to list news reports about people who stole or robbed to make more bets and ended up in prison.
The series of articles stopped because the truth of the message became
so obvious that it didn't need further repetition when so much else was
being investigated.
Reminder
The
present article, therefore, is a short reminder that the science of
mathematics, including probability, is still correct and losers are
still losing:
Back in 1993 The Advertiser
reported: "A Gold Coast solicitor who swindled 18 clients of more than
$3 million to feed a $100 million gambling habit was sentenced
yesterday to 10 years' jail." The solicitor had previously been "a
person of singular intelligence and virtue and a prize-winning law
graduate".
In Perth, a former bank manager stole $3.7 million from his bank over a
period of 1½ years and lost most of it on electronic gaming
machines in casinos. He was jailed for 5½ years. (The Australian
2019)
Clarke (2002) reported: "Half South Australia's 21,000 gambling addicts may have stolen to fuel their habit…"
Talara McHugh, reporting in the Sunday Mail (2024) about sports gambling, writes that more than $424m was lost in South Australia in the last financial year!
On the same page Michael McGuire reports that South Australians have
lost $19.7 billion "on pokies since they were legalized 30 years
ago..." A new annual record of $956m lost on pokies was set in 2023-24.
Of the $19.7bn lost during 30 years, the government got $7.8bn in taxes, the venues got $11.9bn, and the losers got poorer.
Legislation to introduce poker machines was passed in 1992 when the
upper house voted 11 to 10. The machines began operating in 1994.
Since that time many players have lost not only their money but also
their job, family, house and freedom (by imprisonment), and a few even
their life by suicide.
"No pokies" MP Nick Xenophon entered parliament in 1997 with the
mission to eradicate pokies. He failed, but continues the fight.
REFERENCES:
Clarke, C. Gambling addicts stealing to play, Sunday Mail, August 4, 2002, p. 8
McGuire, M. Pokies Play At Record Levels, Sunday Mail, July 28, 2024, p. 10
McHugh, T. Punters urged to go easy, Sunday Mail, July 28, 2024, p. 10
Rutherford, R. Accountant robbed $2m from 85 super funds to fuel his gambling habit, Sunday Mail, July 28, 2024, p. 25
—————— Money Man's Failed Gamble, August 25, 2024, p. 26
The Advertiser, November 10, 1993, p. 6, Solicitor took $3m for gambling habit
The Australian 2019,
September 22, p.
17
(BS)
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