13AMeaning of “net NSW wagering revenue”

#### 13A Meaning of “net NSW wagering revenue” 13A Meaning of “net NSW wagering revenue” > > (1) The net NSW wagering revenue of a betting operator, for a period, is the sum of the following— > > > > > (a) for NSW bets made with the betting operator using a totalizator—the total of all NSW revenue from totalizator pools paid to the betting operator during the period, > > > > > (b) for NSW bets made using a betting exchange operated by the betting operator—the total amount of all fees or commissions paid to the betting operator in relation to NSW betting exchange bets made with the betting operator during the period, > > > > > (c) for NSW bets made with the betting operator (other than NSW bets made using a betting exchange or a totalizator)—the sum of the following during the period— > > > > > > > (i) the total amount of all NSW bets (including, but not limited to, bets placed at fixed odds and at totalizator derived odds) made with the betting operator (including the face value of any free bets), > > > > > > > (ii) the total of any fees or commission associated with making the bets, > > > > > > less the sum of the following— > > > > > > > (iii) the total amount of winnings paid or payable in relation to those bets (including winnings paid in relation to free bets, but not including winnings paid in the form of a credit or entitlement that cannot be converted to money), > > > > > > > (iv) the total amount of refund paid or payable in relation to those bets (other than amounts paid or payable in the form of a credit or entitlement that cannot be converted to money), > > > > > (d) any amounts the betting operator became entitled to retain during the period on account of unclaimed winnings in relation to NSW bets, > > > > > (e) any other amounts the betting operator became entitled to be paid during the period as consideration for, or in relation to, NSW bets made with the betting operator. > > > > Note— > > > > In calculating the net NSW wagering revenue of a betting operator— > > > > > (a) lay-off bets accepted by the betting operator placed by a person (or another betting operator) located in NSW are included, and > > > > > (b) lay-off bets that the betting operator places with a person (or another betting operator) are not included. > > > (2) For the avoidance of doubt, for the purposes of this section, the same betting operator can operate a totalizator, operate a betting exchange and be a bookmaker. > > > (3) In the section— > > > > NSW revenue, from a totalizator pool, for a betting operator during a period, means the amount calculated using the formula— > > > > %20AND%20(No%3D043)%20AND%20(Year%3D2001)%20AND%20(%22Historical%20Document%22%3D0))/g1.gif) > > where— > > > > Dividendstotal means the total amount of dividends paid or payable out of the totalizator pool to investors. > > > > Betstotal means the total amount of bets placed in the totalizator pool. > > > > BetsNSW means the total amount of NSW bets placed with the betting operator in the totalizator pool. > > > > totalizator pool means a pool of totalizator bets made on the outcome of an event or contingency. > > **s 13A:** Ins 2018 No 69, Sch 1 \[4\].