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Betting, Gaming and Lotteries Act 1963

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This is the original version (as it was originally enacted).

13Subject to paragraphs 14 to 19 of this Schedule, the pool betting business carried on by any registered pool promoter shall comply with the following requirements—

(a)it shall take the form of the promotion of competitions for prizes for making forecasts as to sporting or other events, the bets being entries in the competitions and the winnings in respect of the bets being the prizes or shares in the prizes;

(b)each bet shall be an entry in a particular competition;

(c)the stakes and the winnings shall be wholly in money;

(d)in each competition, the prizes shall be equally available for all the bets, and accordingly the question which bets qualify for, or for shares in, the prize or prizes and, save so far as it depends on the amounts staked, the amounts of the respective shares in the prizes, shall be determined solely by the relative success of the forecasts embodied in the respective bets;

(e)the total amount payable by way of winnings shall, in the case of each competition, be the total amount of the stakes in respect of entries in that competition less such percentage of that total amount as may be determined by the promoter, being—

(i)the same percentage in respect of all his competitions which depend on the same events or on events taking place on the same day ; and

(ii)a percentage which is determined and notified to .the accountant before that day ;

(f)the rules applying to the competition shall be notified to the accountant before the first of the relevant sporting or other events takes place.

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