The Horserace Betting Levy Regulations 2017

Betting, Gaming and Lotteries Act 1963

4.—(1) Section 27 (bookmakers’ levy schemes) is amended as follows.

(2) In subsection (1)—

(a) after “bookmakers” insert “and betting exchange providers”, and

(b) for the words following “in accordance with” substitute “this section”.

(3) After that subsection insert—

“(1A) The levy is charged at the rate of 10% of the amount by which a person’s profits for a levy period exceed the exempt amount (see section 27D).

(1B) The person’s profits for a levy period are the sum of—

(a) the person’s profits as a bookmaker on leviable bets for the period (see section 27A), and

(b) the commission charged by the person as a betting exchange provider on leviable bets during the period (see section 27C).

(1C) The persons by whom the levy is payable include those bookmakers and betting exchange providers who are required to hold remote operating licences.

(1D) In subsection (1C) “remote operating licence” has the same meaning as in the Gambling Act 2005 (see section 67 of that Act).”

(4) Omit subsections (2) to (4).

(5) For the heading substitute “The levy”.