Pokies and Sports Gambling Two maths units for Year 10 (MAV 2015)

1. Pokies and Sports Gambling Two maths units for Year 10 (MAV 2015) mav.vic.edu.au Rob Money: rob.money32@yahoo.com.au

2. Gambling and Numeracy for VCALMAV for VRGF Three units: • Pokies • Sports Betting • Budgeting and Data • http://www.responsiblegambling.vic.gov.au/awareness-and-prevention/young-people-and-gambling/school-education-program/resources-for-teachers

3. VCAL DataThe Budgeting and Data Unit 1. Gambling in your entertainment budget? 2. Collecting data about gambling 3. Representing gambling data (Excel)

4. VCGLR website

6. Australian Gambling Statistics Summary Tables 2014-15 32nd editionQueensland Government Statistician's Officewww.qgso.qld.gov.au

7. Some international comparisons Source: May 16th 2011, 15:20 by The Economist online

8. A Senior Worksheet question Of a typical 100 adults:- 30 do not gamble at all 60 are moderate gamblers – say $500 in a year 9 are regular gamblers – say $1000 in year 1 is a heavy gambler who brings the average up to $1200. How much does he gamble? Answer: $120,000 – $30,000 - $9000 = $81,000

9. VCAL Numeracy • Through interactive simulations the ’Pokies’ and ‘Sports Betting’ lessons show how betting agencies design their products to maximise profits at the expense of players. • Each lesson uses spreadsheets and associated worksheets at the three different levels of VCAL – Foundation, Intermediate and Senior

10. Victorian Responsible Gambling Foundation www.responsiblegambling.vic.gov.au ‘Young people no longer experience gambling at a distance.’ ‘Eight in ten teenagers have participated in some form of gambling.’ ‘On average, one teen in every high school class has an issue with gambling.‘

11. Common lesson format • Small scale simulation – with cards, dice, etc • Extended simulation – with spreadsheets • Worksheets with sample data – 3 for VCAL • Discussion of results – with some analysis • Key conclusions

12. Three Key messages • Chance has no memory – independent events • Expected % return = probability x payout Bookies % take = expenditure ÷ turnover • Short term gain? Long term pain! – variability

13. Sweep on the Cup • amongst friends: Collect $24 Payout $24 Expectation 100% • commercial: Collect $24 Payout $20 Expectation 83.3% • How would you teach this lesson? • How much ‘cultural’ content? • What currency? Lollies? • Which race – 2016, 2015, 1930 ? • Ticket design – numbers, horses, jockey’s colours? • Conducting the draw: Random selection, probability (1/24), misconceptions • Any withdrawals? Trade the ticket for the lolly. Eat the lolly. • Information about the favourites changes the probability • ‘Average payout’ = $1.00 or $0.83 • Was that fair? Was it worth the money? • The ‘take home’ message?

14. Sports betting

15. Enter the numbers for the yellow boxes. Then recalculate. Ask students to explain the rest of the numbers.

16. A Day at the Races Start with dice then this spreadsheet with equal payouts. Change later

17. The Pokies Unit 1. Chance has no memory. Bet on the suit of a playing card. 2. Who are the real winners? Probability ¼ but payout $3, not $4 3. Setting Limits. How many $1 bets before you lose your $20? 4. Pokies Some chance of short-term wins but no chance in the long term

18. Spending $20 How long did you expect your $20 to last?

19. For further assistance. rob.money32@yahoo.com.au Ian Lowe (MAV) Oliver Lovell (Sunshine S C) Jamie Gray (Peter Lalor Voc C)