Levy amount: betting exchange bets placed or accepted on or after 1 May 2021
7 Levy amount: betting exchange bets placed or accepted on or after 1 May 2021
The amount by way of levy to be paid under the Betting Control Act 1954 section 14A(2) by a betting operator in respect of betting exchange bets placed or accepted on a race meeting occurring on or after 1 May 2021 is set out in this regulation.
The amount is 1% of turnover for each month beginning with May 2021 unless subregulation (3) or (4) applies.
If turnover (calculated from the beginning of the racing year) reaches $3 000 000, the amount is 31.8% of gross revenue for each month, or part of a month, after turnover reaches $3 000 000.
No amount is payable for any month during which turnover does not reach $1 000.
[Regulation 7 inserted: SL 2021/39 r. 5.]
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