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-------------------------------------------------------------- This story was printed from ZDNet Australia. --------------------------------------------------------------
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ACCC exposes punting software program By ZDNet Australia Staff, 0 August 10, 2001 URL: http://www.zdnet.com.au/news/soa/ACCC-exposes-punting-software-program/0,139023165,120253750,00.htm
The Australian Competition and Consumer Commission has accused the promoters of a horserace betting software program of misleading punters into a no-win situation. The Federal court has granted interim injunctions against the promoters of a punting software program, which claims to analyse the rise and fall of dividends paid and tracks bets on horse races. The program plugs a success rate of between 70 and 95 percent. The injunction has been bought against Solutions Software International, and two related companies formerly known as Acepark and Offtrack Investments. The ACCC has claimed various Australian TAB services were also linked to the program. The program allegedly fools punters into believing it can place successful bets, according to the ACCC. Furthermore, the companies are said to have received AU$8000 a month from the program's earnings. The programs sold for up to AU$12,500 each. The software companies have also been accused of false advertising, touting the service as an investment program rather than a gambling or punting system. The ACCC is seeking a permanent injunction on the service and a refund to customers for the purchase price of the program and any costs incurred.
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