The Race That Stops A Nation - Or Starts A Habit?

Today is Melbourne Cup Day, and here in Melbourne it means that the residents of the metropolitan area get a public holiday to celebrate a very special horserace - the Melbourne Cup.

The Melbourne Cup, first run in 1861, is truly the race that stops a nation, with even though no other city outside Melbourne enjoys a public holiday, workplaces, shopping centres and homes will all stop what they are doing to gather around televisions to watch the 3200m handicap.

An example of this was seven years ago when I was in Canberra for the Cup. A special temporary TAB wagering outlet had been set up in the shopping centre I was in, just to take bets on the day.

In fact TABs are one of the greatest beneficiaries of the Melbourne Cup and the entire Spring Racing Carnival here in Melbourne. Tabcorp provide the following interesting facts about their services on Melbourne Cup Day:

• More than 8 million individual bets will be placed via the TAB in Victoria
• During peak times, 200 bets a second will be placed.
• $30 million in bets expected on the Melbourne Cup race alone in Victoria
• $63 million in bets expected on all Melbourne Cup Day race meetings in Victoria
• 560 TAB retail and pub/club outlets will be open in Victoria
• 3000 people to work in TAB outlets
• 500 TAB telephone betting operators working on the day
• 260,000 operator assisted and self-service calls to be made by punters
• 200,000 TAB telephone account holders can place bets
• 700 self-service terminals available at TAB outlets and on-course at Flemington

So the race is big business - in fact the biggest single gambled on event in Australia by far even if you don't include the many sweeps conducted in homes and workplaces or the lottery products based on the Cup issued by lottery operators such as Tattersall's.

However it is possible that whilst for the majority of people this may be the only day that they bet for the year, it is possible that for some that this could be the start of a problem that may grow and take many years to get rid of. For some, this first taste of gambling can lead them on a path which they may be paying for in ways other than money for a long time to come. It is a sobering thought.

Melbourne Cup Day, the race, the social bet and the events around the day are a part of Australian culture and a significant annual event here in Victoria - whilst it is harmless fun for most, it is important to make sure that you and your family and friends (especially the young) don't be seduced by wagering.

GG

P.S. A courier from Australian Air Express, when making a delivery to my home last night gave me a guaranteed tip for the Melbourne Cup - A horse will win!