Race and Sports Bookmaking Act 2001

Tax is imposed, at the rate determined under section 65 (1) (Determination of tax rates etc) for a period, on the amount of a race bookmaker’s turnover in the period.

Tax is imposed, at the rate determined under section 65 (2) for a period, on the amount of a sports bookmaker’s turnover in the period.

For this section, the following provisions apply:

the amount of turnover of a race bookmaker or sports bookmaker (the bookmaker) for a period is the total of the amounts paid or promised to the bookmaker as consideration for bets completed during the period, reduced by the total of the amounts of bet backs made by the bookmaker in the period;

a bet is taken to be completed—

for a bet, other than a telephone bet, with a race bookmaker—when the bookmaker issues a numbered betting ticket for the bet; or

for a telephone bet with a race bookmaker—when the bet is confirmed in accordance with rules approved under section 76 (1) (Rules about telephone betting); or

for a bet with a sports bookmaker—when the bet is confirmed in accordance with directions given under section 22 (Directions for operation of sports bookmaking venues) or the rules for sports bookmaking.

a bet is taken to be paid or promised to the bookmaker if it is paid or promised to a race bookmaker’s agent, or a sports bookmaker’s agent, as the agent of the bookmaker;

a bet back is taken to be made by the bookmaker if it is made by a race bookmaker’s agent, or a sports bookmaker’s agent, as the agent of the bookmaker.

Note Under the Gambling and Racing Control Act 1999, s 48, the provisions of the Taxation Administration Act 1999 (other than pt 9) apply, with modifications, to gaming laws (including this Act). For the provisions relating to objections and appeals in taxation matters (including assessments), see the Taxation Administration Act 1999, pt 10, and sch 1 and sch 2.