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.