just another money grab by labor, page-3

I personally think this is all a bit lame when the fundamental basis of the businesses you are talking about is a money grab.

In investment and business we have a thing called disclosure where the investor gets to be forewarned and have all the risks pointed out to them.

The whole poker machine scenario relies on the fact that the average punter cant conceive of how low the odds of getting a win out of a poker machine are. It relies on the fact that a section of society is not blessed with an education in probability and statistics, and doesnt even understand what an expected return is.

In this regard the whole business is founded on a fundamental deceit.

If when the punter puts his coin into the machine he had his risks and expected return disclosed to him on another screen.. e.g. "you are most likely to get back 62 cents", with a standard deviation of 80 cents, then that would be a fair contract which might be said to match up to the same rules of disclosure we have with our prospectuses.

The fact that poker machines dont do this, is indicative of the deceit which is going on.