Extract from the QLD Government website:
http://www.fairtrading.qld.gov.au/OFT/OFTWeb.nsf/web+pages/DD9330FA4B245D924A256B7B00022728?OpenDocument

"Get Rich Quick Schemes
The Commissioner for Fair Trading warns Queenslanders not to punt on the success of computerised gambling systems, investment software and other get rich quick schemes.
The Office of Fair Trading receives hundreds of inquiries and complaints each year about such schemes when purchasers discover the returns failed to live up to the sales pitch. It is a very common concern with people relying on the promise of a refund that turns out never to eventuate.
There are currently several of these systems doing the rounds and people have been lured into parting with thousands of dollars after being duped into thinking they can make a quick financial killing but the Office of Fair Trading warns they are a complete waste of money.
Unfortunately, the sales pitch is very convincing, even when they cost as much as $10,000 or even more - an awful lot of money to risk on a 'promise' of riches to come.
Schemes are usually advertised as business opportunities or investments and generally targeted professionals, retirees or others with funds to invest.
Mostly the systems involve betting on horses but could include other forms of gambling. Operators supply glossy brochures and sometimes used videos featuring well-known personalities to promote the schemes.
The equipment supplied with the package can range from a single computer disk to a whole computer system.
The schemes promise huge returns and consumers are often sucked in by evidence of past performance, the results of which can be easily manipulated according to the Commissioner.
In 2001, the Office of Fair Trading successfully prosecuted a father and daughter running a computerised betting scam on the Gold Coast. This action followed a joint operation with the Queensland Police Service, Australian Securities and Investment Commission and the Australian Taxation Office. The man was jailed for two and a half years and his daughter given an 18-month suspected sentence.
The Office of Fair Trading is currently investigating several of these schemes but is rarely able to obtain redress or provide assistance to duped consumers as the companies operating them often wind up their business activities with little or no funds available to reimburse affected consumers.
Consumers often complain that such computerised gambling systems do not work, the money back guarantee is not honoured and requests for refunds are rejected.
Consumers are left with the option of pursuing their money through the Small Claims Tribunal or other legal action, which can be costly.
Consumers who buy these schemes do so at their peril. If a product sounds too good to be true, it is usually a lie. OFT urges people considering such an investment to seek independent advice from a solicitor or financial adviser".