Australians invest $179 on Cup Working day on average, but how does it examine to stocks and Bitcoin?

Monday November 8, 2021 |

Australians on ordinary spend practically $180 each individual on Melbourne Cup Day as punters and workplaces all over the nation gear up for a person of the biggest social items on the calendar.

New examination by Finder located the regular volume put in on Melbourne Cup was $179, $88 of which is put in on betting when the remaining $91 is invested on leisure, manner or eating.

Of program, this is an normal determine — which means people on the turf at Flemington could be lifting the imply for those who look at the race at house in their pyjamas.

The average sum invested on Melbourne Cup was $179, $88 of which is put in on betting though the remaining $91 is used on leisure, fashion or eating. (Getty)

Although some recoup their race-day expenditure with a sizzling decide on, numerous find the only return from a excellent Cup day is a headache and sore toes.

The investigation located that, if invested in the ASX 200, that similar $88 spent on betting would be truly worth all-around $106.92 in 12 months’ time — or $274 if it had been invested in Bitcoin a calendar year in the past.

Finder’s own finance expert, Taylor Blackburn, mentioned the critical to any wager is to know your risk.

“Though the lucky couple may back again a winner, a great deal of that Melbourne Cup money wagered will line the pockets of bookies and gambling agencies,” Mr Blackburn mentioned.

The Melbourne Cup is the most significant single-working day gambling function on the Australian calendar. (Getty)

“An expense in Bitcoin can deliver some long term prosperity for on your own, but substantially like the horses, it can be a wild journey.

“Just like the Cup, even if you are picking perfectly-acknowledged shares or cash, there is usually some possibility that your horse will not likely arrive in. Whether you are speculating on shares, buying into Bitcoin or punting on the ponies, recall there are no these types of items as ‘sure bets’, so do so responsibly.”

The Melbourne Cup is Australia’s greatest one particular-working day gambling occasion, with punters wagering a history $221.6 million on very last year’s race.

All of the style and exciting from the 2021 Melbourne Cup

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