Section 126 — Finance Act 2014: General bets

General bets 126 1 A bet is a general bet for the purposes of this Part if—

a it is not an on-course bet, aa it is not a remote bet, b it is not a spread bet, c it is not made by way of pool betting, and d one or more of conditions A to C is met in relation to it.

2 Condition A is that the person who makes the bet (whether as principal or agent) does so while present at a place in the United Kingdom where betting facilities are provided in the course of a business and the bet is made using those facilities.

3 Condition B is that—

a the person who makes the bet as principal is a UK person, and b the bet is not an excluded bet.

4 Condition C is that—

a the person who makes the bet as principal is a body corporate not legally constituted in the United Kingdom, b the bookmaker with whom the bet is made knows or has reasonable cause to believe that at least one potential beneficiary of any winnings from the bet is a UK person, and c the bet is not an excluded bet.