F2Part I Betting

Contributions for benefit of horse racing by bookmakers and Totalisator Board

27F1The levy

F2(1)

The contributions such as are mentioned in section 24(1) of this Act to be made by bookmakers F3and betting exchange providers shall be paid by way of a levy in respect of each levy period in accordance with F4this section.

F5(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).

F6(2)

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F6(3)

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F6(4)

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(5)

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