Sunday, August 31, 2008
On my reading of this Lasseters Sportsbook page here's what you should do.
[Insert legal phrase about no liability, seek independent advice etc]
Bet $1,000 on "DOWN 0.25%", and $150 on "DOWN MORE THAN 0.25%".
Your total outlay will be $1,150.
If rates are cut by 0.25% on Tuesday you will be paid $1,200 as a result of your first bet.
You will make a profit of $50.
If rates are cut by more than 0.25 per cent you will be paid $1,450 as a result of your second bet.
You will make a profit of $300.
Am I missing something?
Is the joke on me?
Is it something to do with two economists walking down a street and seeing a $50 note on the footpath...