sec.132Meaning of betting exchange

### sec.132 Meaning of betting exchange Betting exchange means a facility that enables persons— to place or accept, through the operator of the facility, wagers with other persons; or to place with the operator of the facility wagers that, on acceptance, are matched with opposing wagers placed with and accepted by the operator. However, betting exchange does not include a facility that enables persons to place wagers only with a person who conducts bookmaking or a totalisator. s 132 prev s 132 om 2016 No. 12 s 363 pres s 132 (prev s 113B) ins 2008 No. 75 s 90 renum 2012 No. 42 s 45 (sec.132-ssec.1) Betting exchange means a facility that enables persons— to place or accept, through the operator of the facility, wagers with other persons; or to place with the operator of the facility wagers that, on acceptance, are matched with opposing wagers placed with and accepted by the operator. (sec.132-ssec.2) However, betting exchange does not include a facility that enables persons to place wagers only with a person who conducts bookmaking or a totalisator. - (a) to place or accept, through the operator of the facility, wagers with other persons; or - (b) to place with the operator of the facility wagers that, on acceptance, are matched with opposing wagers placed with and accepted by the operator.