Part I Betting Duties

General betting duty

F15A Multiple bets

1

Subject to subsection (3), this section applies where—

a

a person bets on more than one contingency, and

b

he bets on terms that if his bet in respect of one contingency is successful the stake or winnings will be carried forward as the stake in respect of another contingency.

2

Where this section applies—

a

the person mentioned in subsection (1)(a) shall be treated for the purposes of sections 2 to 4 as making a separate bet on each contingency, and

b

each bet which depends on the result of an earlier bet shall be treated as being made at the time of that result.

3

This section does not apply where a person bets on more than one contingency if—

a

the betting takes the form of a single bet or of bets placed at a single time, and

b

the terms mentioned in subsection (1) do not permit the arrangement for carrying forward to be varied or terminated.

4

In subsection (1)(b) the reference to “the stake or winnings” includes a reference to—

a

any part of the stake,

b

any part of the winnings, and

c

any combination of stake and winnings.