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Australia: Gambling booms as financial markets bust

29 October 2008

CANBERRA, Australia -- As reported by the Canberra Times: "The financial crisis may have some people keeping a white-knuckle grip on what little cash they have left, but it seems plenty of others are determined to gamble their way out of the doldrums.

"New ACTTAB data, revealing total racing bets made on the tote during August, September and October for the past three years, shows no evidence of penny-pinching by punters.

"Since August, as world and Australian financial markets crashed, Canberrans have parted with more than $44million.

"Almost $16million was spent locally on the racing markets this month an increase of more than $2.5million on last year and $1.5million on the previous year..."

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