Skip to main content

Xenophon, you are a dead set idiot

There's been more than enough proof over the years that this South Australian senator is just a headline seeker when it comes to his views against gambling. I admired his stance against pokies (slots/fruit machines in other parts of the world) which are in plague proportions in most of Australia, but his credibility, if he had any left, is seriously undermined when he gets involved in an argument like this.

MP calls for ban on rate-rise betting


Betting on the Reserve Bank's interest rates decision should be banned because it ''invites trouble'' and opens the door to corruption, Independent Nick Xenophon says.

The Age yesterday reported that a stand-off between the Australian Securities and Investments Commission and online betting agency Centrebet, over betting on interest rate rises, had ended.

''Millions of Australians are affected by interest rate movements. It is not a game for families; for many families it can be the difference between paying the bills or not,'' Senator Xenophon told The Age.



Never mind the fact that you might get a bet on for a couple of grand on this market, whereas the impact of rate rise on the banks and the economy at large would be in the tens or hundreds of millions of dollars. Never mind the fact that financial institutions offer facilities to hedge against interest rate changes, effectively the same as betting on it with a bookie.
Never mind the fact that Betfair have been betting on this market in Australia for several years now without the press interest...

It was in the papers yesterday so Mr Headline Seeker has to get in for his two cents' worth. Well Mr X, there's a reason why Australia doesn't have 2c pieces anymore, because they are totally worthless!

Comments

Popular posts from this blog

Preview de la Prix de l'Arc de Triomphe 2020

The European flat racing season comes to its natural conclusion in this messed up hell of a year. The queen of the turf, Enable, goes for an historic third win but it has been wet and cold all week in Paris, making it a tough old slog in deep ground. There won't be much of a crowd there to 'bring the house down' if she wins, in front of no more than 1000 paying spectators, but the racing world will be tuning in across the globe. =============================================== Prix de L'Arc de Triomphe   ParisLongchamp, 1605 local, 1505 BST, 0005 Monday Sydney time.  2400m, Group 1 Weight-for-Age, (no geldings)  Approx €3m.  Expected Going - Heavy.  1.Persian King - 4yo, Kingman/Pretty Please - Andre Fabre - Pierre Charles Boudot   Star French colt stepping up to a mile and a half for the first time. Won the French 2000 Guineas (Poulains) on heavy ground but ran fourth (only time in his career finishing worse than second) in the Jacques Le Marois, almost nine lengt

lay the field - my favourite racing strategy

Dabbling with laying the field in-running at various prices today, not just one price, but several in the same race. Got several matched in the previous race at Brighton, then this race came along at Nottingham. Such a long straight at Nottingham makes punters often over-react and think the finish line is closer than it actually is. As you can see by the number of bets matched, there was plenty of volatility in this in-play market. It's rare you'll get a complete wipe-out with one horse getting matched at all levels, but it can happen, so don't give yourself too much risk...

The Melbourne Cup preview 2019

We're back again for the greatest race on turf, the world's richest staying race and the only race in the world which creates a public holiday for millions of locals. Once again a fine international field has been assembled and it's worth a deep look at the race. So get a cuppa and find a comfortable seat to plough your way through my preview! -------------------------------- The Lexus Melbourne Cup Group 1, Handicap, 3200m AUD 7,750,000 Flemington 1500 local, 0400 GMT Broadcasters - Network 10 (AUS), Racing.com (worldwide), SkySportsRacing (UK) 1. Cross Counter Trainer - Charlie Appleby (one previous Cup win) Jockey - William Buick Breeding - Teofilo - Waitress Drawn 5, Weight 57.5kg Last year's impressive winner who doesn't get the 3yo weight advantage this time. Won first up at Meydan in March but has run fourth, third, fourth in the big set weights staying races in England and Ireland, never quite making it as the next big staying star. W