Showing posts with label gaming. Show all posts
Showing posts with label gaming. Show all posts

Tuesday, February 9, 2010

farmdoc's blog post number 660

Are you up for some arithmetic? As at June 2007 Tasmania’s population was 493,300 [1]. As this was over 2½ years ago, let’s round it up to 500,000. A recent Greens Media Release [2] quotes official government data [3] that in the calendar year 2009 Player Expenditure (i.e. amount wagered less amount won) on all Electronic Gaming Machines was $220,032,572. Dividing $220,032,572 by 500,000 gives an average $440 ‘pokie loss’ for every Tasmanian. About 30% of the 500,000 Tasmanians are under the legal gambling age (I’m an unsophisticated old guy, so I prefer the word ‘gambling’ to its modern euphemism ‘gaming). Excluding this 30%, the $440 rises to $629. But clearly some of the $220,032,572 net loss was incurred by people living elsewhere and visiting Tasmania, which reduces $629 figure, as we’re looking at Tasmanians only. Even an average $440 is high, because many adults – including me – don’t bother with Electronic Gaming Machines at all. I guess the per capita losses are biggest in very wealthy people, and very poor people who seek instant riches. More fool them. But that’s unfair; it’s an addiction. However the $220,032,572 net loss figure shows how foolish it is to expect to win consistently. In 2009 the average loss per machine was $59,938. Finally, all the above figures exclude non-electronic gambling. What a cancer in our society. And created and sanctioned by a government hungry for revenue. A pox on it.