$1000 on QLD client @ 1.95 Heads Customer A
$1000 on QLD client @ 1.95 Tails Customer B
Say it lands heads
[email protected]= $950 Profit for Customer A. Bookmaker Loses ($950)
$1000.@95= $950 Loss for Customer B. Bookmaker Wins $1000
Bookmaker won $50 before any fees paid to anyone
Total paid to QLD= 0.2*$50= $10
Total GST paid out of $50= $10
Remaining Profit= $30
Obviously there could be other fees that have not been included such as racefield/PRA fees, merchant fees etc.
POCT is the net of your clients combined for that month for that state.
How do you come up with -$350? as it is WRONG.
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