Finance Act 2014

139 Chapter 1: stake money

(1) For the purposes of this Chapter the stake money on a bet is the aggregate of the amounts which fall due in respect of the bet.

(2) If the stake money falls due to a person other than the bookmaker with whom the bet is made, it is to be treated as falling due to the bookmaker.

(3) Where the bet is not a spread bet and the sum which the person who makes the bet will lose if unsuccessful is known when the bet is made, that sum is to be treated as falling due when the bet is made (irrespective of when it is actually paid or required to be paid).

(4) Where the person who makes the bet does so in pursuance of an offer which permits the person to pay nothing or less than the amount which the person would have been required to pay without the offer, the person is to be treated as being due to pay that amount—

(a) to the bookmaker with whom the bet is made, and

(b) at the time when the bet is made.

(5) All payments made—

(a) for or on account of or in connection with the bet,

(b) in addition to amounts falling due in respect of the bet, and

(c) by the person making the bet,

are to be treated as amounts due in respect of the bet except so far as the contrary is proved by the bookmaker whose profits on the bet are being calculated.

(6) In calculating any amount falling due in respect of the bet, no deduction is to be made in respect of—

(a) any other benefit secured by the person who makes the bet as a result of paying the money,

(b) a person’s expenses, whether in paying duty or otherwise, or

(c) any other matter.