Section 9: Betting: general
58.This section defines “betting” for the purposes of the Act. The present law contains no statutory definition of “betting” as an activity. In broad terms it is taken to mean the staking of money or other value on the outcome of a doubtful issue. Betting can be at fixed odds, by means of a spread, or by way of pool betting.
59.By virtue of this section (which is subject to the qualification in Section 10) betting covers making, accepting or negotiating a bet in relation to:
the outcome of any race, competition or event,
the likelihood of anything occurring or not occurring, or
whether something is true or not.
60.Subsections (2) and (3) extend the meaning of the term to include bets on races, competitions, or events that have occurred in the past.