13Definitions

13 Definitions

13 Definitions

In this Part—

approved form means a form approved by the Chief Commissioner.

bet includes the following—

(a) any bet or wager on any event or contingency, including but not limited to events and contingencies relating to the outcomes of racing, sports, elections, current affairs and entertainment,

(b) a free bet,

(c) a lay-off bet,

(d) any other similar agreement or arrangement prescribed by the regulations,

but does not include any activity permitted under section 7 of the Unlawful Gambling Act 1998 or under a corresponding provision of a law of another State or a Territory or the Commonwealth.

betting exchange and bookmaker have the same meanings as those terms have in the Betting and Racing Act 1998.

betting operator means a licensed betting service provider within the meaning of the Betting and Racing Act 1998.

Note—

The Betting and Racing Act 1998 defines a licensed betting service provider to be a betting service provider (being a bookmaker, a person who operates a totalizator or a person who operates a betting exchange) that holds a licence or authority (however described) under the legislation of this or any other State or Territory to carry out its betting services (whether in that State or Territory, or elsewhere).

free bet means a bet made wholly or partly without the person making the bet paying any monetary amount for the bet or part of the bet.

Note—

Examples of a free bet (also known as a bonus bet) include a bet made using the following—

(a) a free component provided for making a bet,

(b) an amount representing a bonus on a previous winning bet,

(c) an amount representing a refund of all or part of the staked amount for a previous non-winning bet.

lay-off bet means a bet made by a betting operator (the first betting operator) with another betting operator to reduce, wholly or partly, the liability of the first betting operator in relation to 1 or more bets made with the first betting operator.

net NSW wagering revenue—see section 13A.