363HBet with inside information

363H Bet with inside information (1) A person (the first person) commits an offence if— (a) the first person engages in conduct that results in— (i) a bet by the first person on an event; or (ii) another person being encouraged to bet on an event; or (iii) information being communicated to another person who the first person knows would, or would be likely to, bet on an event; and (b) at the time of the conduct the first person— (i) possesses inside information for the event; and (ii) is reckless about whether the information is inside information. Note The fault element of recklessness can be satisfied by proof of intention, knowledge or recklessness (see s 20 (4)). Maximum penalty: imprisonment for 2 years. generally available—information is generally available if it— (a) consists of matter that is readily observable by the public; or (b) has been made known in a way that would, or would be likely to, bring it to the attention of the public; or (c) consists of deductions, conclusions or inferences made or drawn from information mentioned in paragraph (a) or (b).

inside information, about an event, means information that— (a) is not generally available; and (b) if it were generally available, would, or would be likely to, influence a person who would commonly bet on the event in deciding— (i) whether or not to bet on the event; or (ii) any other betting decision.