Section 133 — Finance Act 2014: Bet-brokers

Bet-brokers 133 1 This section applies where—

a one person (the “bettor”) makes a bet with another person (the “bet-taker”) using facilities provided in the course of a business, other than a betting exchange business, by a third person (the “bet-broker”), or b one person (the “bet-broker”) in the course of a business makes a bet with another person (the “bet-taker”) as the agent of a third person (the “bettor”) (whether the bettor is a disclosed principal or an undisclosed principal).

2 For the purposes of sections 126 to 132—

a the bet is to be treated as if it were made separately by the bettor with the bet-broker and by the bet-broker with the bet-taker, b the bet-broker is to be treated as a bookmaker in respect of the bet, c the aggregate of amounts due to be paid by the bettor in respect of the bet is to be treated as being due separately to the bet-broker and to the bet-taker (and any amount due to be paid by the bet-broker to the bet-taker is to be disregarded),

and d a sum paid by the bet-taker by way of winnings in respect of the bet is to be treated as having been paid separately by the bet-taker and by the bet-broker at that time and for that purpose (and any sum paid by the bet-broker is to be disregarded).

3 Where there is any doubt as to which of two persons is the bettor and which the bet-taker for the purposes of subsection (1)(a), whichever of the two was the first to use the facilities of the bet-broker to offer the bet is to be treated as the bet-taker.

4 In this section “ betting exchange business ” means a business such as is mentioned in section 141(1).