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PART 3 U.K.General betting duty, pool betting duty and remote gaming duty

CHAPTER 1U.K.General betting duty

Pool betting on horse and dog racesU.K.

137Profits on ordinary Chapter 1 pool betsU.K.

To calculate the amount of a bookmaker's profits for an accounting period in respect of ordinary Chapter 1 pool bets—

(a)take the aggregate of the stake money falling due to the bookmaker in the accounting period in respect of such bets, and

(b)subtract the aggregate of the expenditure by or on behalf of the bookmaker for the period on winnings in respect of such bets.