PART 3General betting duty, pool betting duty and remote gaming duty

CHAPTER 1General betting duty

Stake money and winnings

140Chapter 1: winnings

1

Only winnings in the form of money are to be taken into account when determining for the purposes of this Chapter what are winnings on a bet.

2

For those purposes, winnings on a bet include—

a

the return of a stake on the bet, and

b

any winnings on the bet held in an account for a person (“P”) if P is notified that the amount is being held in the account and may be withdrawn by P on demand.

3

The Commissioners may by regulations make provision as to when, for the purposes of any calculation under this Chapter—

a

winnings are to be treated as paid or provided, and

b

expenditure on winnings is to be treated as incurred.