Australian Capital Territory
Race and Sports Bookmaking (Rules for Sports Bookmaking) Determination 2003 (No. 3)
Disallowable instrument DI2003—330
made under the
Race and Sports Bookmaking Act 2001, subsection 23(1) (Rules for sports bookmaking).

The Commission determines that determinations DI2003-284 is revoked and that the attached schedule shall be the rules for sports bookmaking.

Judy Sullivan 
Deputy Chairperson, ACT Gambling and Racing Commission

  16 December 2003

SCHEDULE

	SECTION I - GENERAL RULES FOR SPORTS BOOKMAKING

RULES FOR SPORTS BOOKMAKING AT SPORTS BOOKMAKING VENUES OTHER THAN MANUKA OVAL

Definitions	In these rules:-

"bank business day" means any day where banks are open for business in the ACT.

"betting sheets" means the form made available by the ACT Gambling and Racing Commission for the purpose of recording sports bets or the record produced by the approved computer system.

“circled game” means a game in a designated US sport where, in the opinion of the bookmaker, influences such as weather, injury to key players or other factors may have a significant impact on the odds for that game.

“conclusion of a match”, unless otherwise provided for in these rules, includes any period or periods of extra time played, where the scores are tied at the end of the scheduled match time.

“debit bet” means a bet where the sports bookmaker debits an account established by the punter for the purposes of betting.

“fixed odds” means in relation to a bet that a fixed amount that will be won if the bet is successful is determined before the bet is accepted.

“pre-post betting” means betting that is conducted prior to the day of the race.

A	General requirements for sports bookmaking events

Except as identified in specific sports, the following general rules apply to fixed odds sports bookmaking on all sporting or other contingencies:-

(i)	If a match/game/bout/race/contest is abandoned and no result is declared all bets are off and moneys are to be refunded;

(ii)	All bets stand on postponed matches played within seven days of the scheduled date.  All bets are to be refunded on matches postponed longer than seven days;

(iii)	Bets will be settled on the basis of the official results declared by the Controlling Authority at the conclusion of a match/game/bout/
race/contest, series of matches/games/bouts/races/contests or competitions, as the case may be;

(iv)	With the exception of (v), in the event that the Controlling Authority declares the result of a match a draw or tie, all moneys betted will be added together and equally divided; and

(v)	In the event that the Controlling Authority determines that a drawn match is to be replayed, all bets are off and all moneys are to be refunded.

B	Individual requirements for sports bookmaking events

The following rules apply to fixed odds sports bookmaking markets as identified:-

(1)		Rugby League

	(a)	A sports bookmaker may accept bets on the following contingencies:-

(i)	Outcomes relating to an individual match or series of matches;
(ii)	A team to be one of the teams which will compete in the Finals series;
(iii)	A team to play in the Grand Final;
(iv)	A team to win the Grand Final.
(v)	Minor premiership, Grand Final Quinella;
(vi)	A player to win the award for the best player in the competition;
(vii)	A player to win the man of the match award in the grand final;
(viii)	Leading points scorer;
(ix)	Leading try scorer; and
(x)	Leading goal kicker.

	(b)	The following special conditions apply to betting on Rugby League: 

(i)	In betting on individual matches, sports bookmakers may give points start - in which, in every case, shall be declared to a half of one point;
(ii)	On betting on the first try scorer, in the event that a penalty try is awarded to a team, and accordingly no individual player is awarded the try, bets will be settled on the basis of the next try scorer;
(iii)	All bets on a player to score the first try or goal are play or pay when the bet is made and no refund will be given should a player fail to take the field or be dismissed from the game; and
(iv)	All bets on a team to reach the final series, win a premiership etc or a player to win an award are play or pay when the bet is made and no refund will be given should a team or player withdraw or be disqualified either before or during a competition.

(2)		Australian Rules Football

	(a)	A sports bookmaker may accept bets on the following contingencies:-

(i)	Outcomes relating to an individual match or series of matches;
(ii)	A team or teams to be one of the teams which will compete in the Finals series;
(iii)	A team to play in the Grand Final;
(iv)	A team to win the Grand Final.
(v)	Minor premiership, Grand Final Quinella;
(vi)	A player to win the Brownlow medal;
(vii)	A player to win the Norm Smith medal; and
(viii)	Leading goal kicker.

	(b)	The following special conditions apply to betting on Australian Rules Football - 

(i)	In betting on individual matches, sports bookmakers may give points start - in which, in every case, shall be declared to a half of one point;
(ii)	All bets on a player to score the first goal are play or pay when the bet is made and no refund will be given should a player fail to take the field; and
(iii)	All bets on a team to reach the final series, win a premiership etc or a player to win an award are play or pay when the bet is made and no refund will be given should a team or player withdraw or be disqualified either before or during a competition.

(3)		Rugby Union

	(a)	A sports bookmaker may accept bets on the following contingencies:-

(i)	Outcomes relating to an individual match or series of matches;
(ii)	A team to be one of the teams which will compete in the Finals series;
(iii)	A team to play in the Grand Final;
(iv)	A team to win the Grand Final.
(v)	Minor premiership, Grand final Quinella;
(vi)	Leading points scorer;
(vii)	Leading try scorer; and
(viii)	Leading goal kicker.

	(b)	The following special conditions apply to betting on Rugby Union - 

(i)	In betting on individual matches, sports bookmakers may give points start - in which, in every case, shall be declared to a half of one point;
(ii)	On betting on the first try scorer, in the event that a penalty try is awarded to a team, and accordingly no individual player is awarded the try, bets will be settled on the basis of the next try scorer;
(iii)	All bets on a player to score the first try or goal are play or pay when the bet is made and no refund will be given should a player fail to take the field or be dismissed from the game; and
(iv)	All bets on a team to reach the final series, win a premiership etc or a player to win an award are play or pay when the bet is made and no refund will be given should a team or player withdraw or be disqualified either before or during a competition.

(4)		Cricket

	(a)	A sports bookmaker may accept bets on the following contingencies:-

(i)	Outcomes relating to an individual match or series of matches;

	(b)	The following special conditions apply to betting on cricket -

(i)	If a match is abandoned before a ball is bowled, all bets are off;
(ii)	If a one-day match is shortened for any reason, bets will be settled according to any result declared by the Controlling Authority; and
(iii)	If a one-day match does not proceed for sufficient time for a result to be declared by the Controlling Authority, all bets are off and the moneys are to be refunded.

(5)		Basketball

	(a)	A sports bookmaker may accept bets on the following contingencies:-

(i)	Outcomes relating to an individual match or series of matches;
(ii)	A team to play in the Grand Final;
(iii)	A team to win the Grand Final; and
(iv)	The number of games a team will win in a final series.

	(b)	The following special conditions apply to betting on basketball -

(i)	In betting on individual matches, sports bookmakers may give points start - which may be declared to a half of one point; 
(ii)	In the event that a bet is tied, when a point start is given as a whole point, the bets are to be refunded;
(iii)	All bets on a team to reach the final series, win a premiership etc or a player to win an award are play or pay when the bet is made and no refund will be given should a team or player withdraw or be disqualified either before or during a competition; and
(iv)	Where a sports bookmaker determines the game is a circled game, the sports bookmaker shall, if requested by the backer, be compelled to lay odds to lose $500 in respect of that game.

(6)		Soccer

	(a)	A sports bookmaker may bet on the following contingencies:-

(i)	Outcomes relating to an individual match or series of matches;
(ii)	A nominated team to play in a relevant Final; and
(iii)	A nominated match to be drawn.

	(b)	The following special conditions apply to betting on soccer -

(i)	In a match where the draw is a contingency, the result is determined at the conclusion of ordinary time;
(ii)	If a team is backed to win or lose a match and the result is a draw, the bet is lost; and
(iii)	All bets on a team to reach the final series, win a premiership etc are play or pay when the bet is made and no refund will be given should a team withdraw or be disqualified either before or during a competition.

(7)		Tennis

	(a)	A sports bookmaker may accept bets on the following contingencies:-

(i)	A player or players to win a match or Tournament;
(ii)	A player or players to play in the quarter-final, semi-final or final of a match or Tournament;
(iii)	A nation to win a round or a Final of the Davis Cup; and
(iv)	The number of sets to be played in a match.

	(b)	The following special conditions apply to betting on tennis -

(i)	No bet shall be laid against a competitor who has not qualified for a Tournament; and
(ii)	If, for any reason, a competitor withdraws, is disqualified or fails to complete a match after it has commenced, all bets on the match are deemed void and are to be refunded, while affected multiple bets will be recalculated to exclude the voided match.

(8)		Golf

	(a)	A sports bookmaker may accept bets on the following contingencies:-

(i)	A competitor or team to win or be placed in a Tournament or series of Tournaments; and
(ii)	A competitor or team to be the leader at the end of play on any particular day of a Tournament.

	(b)	The following special conditions apply to betting on golf -

(i)	All bets on a Tournament Final are play or pay when the bet is made and no refund will be given should a player or team withdraw or be disqualified either before or during a Tournament.

(9)		Yacht Racing

	(a)	A sports bookmaker may accept bets on the following contingencies:-

(i)	A nominated yacht to win "Line Honours" in the Sydney to Hobart race;
(ii)	A nominated yacht to win on Handicap in the Sydney to Hobart race;
(iii)	A nominated yacht to win the America's Cup; and
(iv)	In the Final of an America's Cup challenge, a nominated yacht to win a specified number of races.

	(b)	The following special conditions apply to betting on yacht racing -

(i)	If no official winner is declared within twenty-eight days of a race or a final race in a series, all bets on that race or that series of races are off and moneys are to be refunded.

(10)		Motor Racing (Car and Bike)

	(a)	A sports bookmaker may accept bets on the following contingencies:-

(i)	Outcomes relating to an individual race or series of races;

	(b)	The following special conditions apply to betting on motor racing -

(i)	All bets on motor racing shall be play or pay when the bet is made and no refund will be given should a contestant or team withdraw or be disqualified either before or during a race or championship; and
(ii)	Bets will be settled on the basis of the result as declared on the race-day by the Controlling Authority irrespective of any undecided protest.

(11)		Baseball

	(a)	A sports bookmaker may accept bets on the following contingencies:-

(i)	Outcomes relating to an individual game or series of games;
(ii)	The margin by which a team will win a game;
(iii)	The number of games a team will win in a competition round or playoff series;
(iv)	A team to be one of the teams which will compete in the Finals matches;
(v)	A team to play in the playoffs;
(vi)	A team to win the playoffs; and
(vii)	A team to win the World Series.

	(b)	The following special conditions apply to betting on baseball -

(i)	In betting on individual matches, sports bookmakers may give points start - in which, in every case, shall be declared to a half of one point;
(ii)	All bets on a team to reach the final series, win a premiership etc or a player to win an award are play or pay when the bet is made and no refund will be given should a team or player withdraw or be disqualified either before or during a competition; and
(iii)	Where a sports bookmaker determines the game is a circled game, the sports bookmaker shall, if requested by the punter, be compelled to lay odds to lose $500 in respect of that game.

(12)		Boxing

	(a)	A sports bookmaker may accept bets on the following contingencies:-

(i)	A contestant to win a fight;
(ii)	A fight to be a draw;
(iii)	The mode of the win, i.e. knock out, TKO, points decision etc; and
(iv)	The number of rounds that a fight may last.

	(b)	The following special conditions apply to betting on boxing -

(i)	If a contestant is backed to win a fight and the result is a draw, the bet is lost.

(13)		American Football

	(a)	A sports bookmaker may accept bets on the following contingencies:-

(i)	Outcomes relating to an individual game or series of games;
(ii)	The margin by which a team will win a match;
(iii)	The number of games a team will win in a competition round;
(iv)	A team to be one of the teams which will compete in the Finals matches;
(v)	A team to play in a conference final;
(vi)	A team to win a conference final;
(vii)	A team to play in a the Super Bowl; and
(viii)	A team to win the Super Bowl.

	(b)	The following special conditions apply to betting on American Football -

(i)	In betting on individual matches, sports bookmakers may give points start - which may be declared to a half of one point; 
(ii)	In the event that a bet is tied, when a point start is given as a whole point, the bets are to be refunded;
(iii)	All bets on a team to reach the final series, win a premiership etc or a player to win an award are play or pay when the bet is made and no refund will be given should a team or player withdraw or be disqualified either before or during a competition; and
(iv)	Where a sports bookmaker determines the game is a circled game, the sports bookmaker shall, if requested by the backer, be compelled to lay odds to lose $500 in respect of that game.

(14)		Ice Hockey

	(a)	A sports bookmaker may accept bets on the following contingencies:-

(i)	Outcomes relating to an individual match or series of matches;
(ii)	The margin by which a team will win a match;
(iii)	A team to be one of the teams which will compete in the Finals matches;
(iv)	A team to play in the Final;
(v)	A team to win the Final.

	(b)	The following special conditions apply to betting on Ice Hockey -

(i)	In betting on individual matches, sports bookmakers may give points start - in which, in every case, shall be declared to a half of one point; and
(ii)	All bets on a team to reach the final series, win a premiership etc or a player to win an award are play or pay when the bet is made and no refund will be given should a team or player withdraw or be disqualified either before or during a competition.

(15)		Thoroughbred Racing

	(a)	A sports bookmaker may accept bets on the following contingencies:-

(i)	Outcomes relating to an individual race or series of races;
(ii)	A trainer to win a State or Territory Trainer’s Premiership; and
(iii)	A jockey to win a State or Territory Jockey’s Premiership.

	(b)	The following special conditions apply to betting on thoroughbred racing:-

(i)	Betting on thoroughbred racing shall be in accordance with the Rules of Racing and the Rules of Betting applicable in the Australian Capital Territory;
(ii)	All bets will be settled on the basis of the official results declared by the relevant Controlling Authority following the declaration of correct weight; and
(iii)	In the event of a withdrawal in respect of thoroughbred horse racing on which future win or place wagering is conducted which is a withdrawal from an event after the time for final acceptances with the Controlling Authority;
	(A) all bets made on such competitor;
	(1) before the time for final acceptances shall be on an all-in basis; and
	(2) after the time for final acceptances shall be refunded; and
	(B) all other bets made;
	(1) before the time for final acceptances, or after the sports bookmaking licensee makes any adjustment to the returns it has set for the event following the withdrawal, shall stand;
	(2) after the time for final acceptances but before the sports bookmaking licensee makes any adjustment to the returns it has set for the event following the withdrawal shall stand subject, at the sports bookmaking licensee's discretion, to a deduction to be calculated in accordance with the Scale of Deductions set out in the Rules of Betting applicable in the Australian Capital Territory.
(iv) Where there is more than one withdrawal in respect of the same event, but the withdrawals are at different times, the sports bookmaking licensee shall apply as far as reasonably possible the provisions of the Rules of Betting applicable in the Australian Capital Territory.

(16)		Harness Racing

	(a)	A sports bookmaker may accept bets on the following contingencies:-

(i)	Outcomes relating to an individual race or series of races.

	(b)	The following special conditions apply to betting on harness racing:-

(i)	Betting on harness racing shall be in accordance with the Rules of Racing and the Rules of Betting applicable in the Australian Capital Territory; and
(ii)	All bets will be settled on the basis of the official results declared by the relevant Controlling Authority following the all clear given by the controlling stewards; and
(iii)	In the event of a withdrawal in respect of harness racing on which future win or place wagering is conducted which is a withdrawal from an event after the time for final acceptances with the Controlling Authority;
	(A) all bets made on such competitor;
	(1) before the time for final acceptances shall be on an all-in basis; and
	(2) after the time for final acceptances shall be refunded; and
	(B) all other bets made;
	(1) before the time for final acceptances, or after the sports bookmaking licensee makes any adjustment to the returns it has set for the event following the withdrawal, shall stand;
	(2) after the time for final acceptances but before the sports bookmaking licensee makes any adjustment to the returns it has set for the event following the withdrawal shall stand subject, at the sports bookmaking licensee's discretion, to a deduction to be calculated in accordance with the Scale of Deductions set out in the Rules of Betting applicable in the Australian Capital Territory.
(iv) Where there is more than one withdrawal in respect of the same event, but the withdrawals are at different times, the sports bookmaking licensee shall apply as far as reasonably possible the provisions of the Rules of Betting applicable in the Australian Capital Territory.

(17)		Greyhound Racing

	(a)	A sports bookmaker may accept bets on the following contingencies:-

(i)	Outcomes relating to an individual race or series of races;

	(b)	The following special conditions apply to betting on greyhound racing:-

(i)	Betting on greyhound racing shall be in accordance with the Rules of Racing and the Rules of Betting applicable in the Australian Capital Territory; and
(ii)	All bets will be settled on the basis of the official results declared by the relevant Controlling Authority following the all clear given by the controlling stewards; and
(iii)	In the event of a withdrawal in respect of greyhound racing on which future win or place wagering is conducted which is a withdrawal from an event after the box draw is conducted by the Controlling Authority;
	(A) all bets made on such competitor;
	(1) before the box draw is conducted shall be on an all-in basis; and
	(2) after the box draw is conducted shall be refunded; and
	(B) all other bets made;
	(1) before the box draw is conducted, or after the sports bookmaking licensee makes any adjustment to the returns it has set for the event following the withdrawal, shall stand;
	(2) after the box draw is conducted but before the sports bookmaking licensee makes any adjustment to the returns it has set for the event following the withdrawal shall stand subject, at the sports bookmaking licensee's discretion, to a deduction to be calculated in accordance with the Scale of Deductions set out in the Rules of Betting applicable in the Australian Capital Territory.
(iv) Where there is more than one withdrawal in respect of the same event, but the withdrawals are at different times, the sports bookmaking licensee shall apply as far as reasonably possible the provisions of the Rules of Betting applicable in the Australian Capital Territory.

(18)		Swimming

	(a)	A sports bookmaker may accept bets on the following contingencies:-

(i)	Outcomes relating to an individual race or series of races;
(ii)	A contestant to break a World, Olympic or Commonwealth record; and
(iii)	A team to break a World, Olympic or Commonwealth record.

	(b)	The following special conditions apply to betting on swimming:-

(i)	No bet shall be laid against a competitor who has not qualified for a Final; and
(ii)	All bets on a Final are play or pay when the bet is made and no refund will be given should a competitor or team withdraw before, or be disqualified during, the Final.

(19)		Athletics (track and field)

	(a)	A sports bookmaker may accept bets on the following contingencies:-

(i)	Outcomes relating to an individual race or series of races;
(ii)	A contestant to break a World, Olympic or Commonwealth record; and
(iii)	A team to break a World, Olympic or Commonwealth record.

	(b)	The following special conditions apply to betting on athletics:-

(i)	No bet shall be laid against a competitor who has not qualified for a Final; and
(ii)	All bets on a Final are play or pay when the bet is made and no refund will be given should a competitor or team withdraw before, or be disqualified during, the Final.

(20)		Triathlon

	(a)	A sports bookmaker may accept bets on the following contingencies:-

(i)	Outcomes relating to an individual race or series of races.

	(b)	The following special conditions apply to betting on triathlons-

(i)	All bets are play or pay when the bet is made and no refund will be given should a competitor withdraw or be disqualified either before or during an event.

(21)		Showjumping

	(a)	A sports bookmaker may accept bets on the following contingencies:-

(i)	Outcomes relating to an individual event or series of events.

	(b)	The following special conditions apply to betting on Showjumping:-

(i)	No bet shall be laid against a competitor who has not qualified for a Final; and
(ii)	All bets on an event are play or pay when the bet is made and no refund will be given should a competitor or team withdraw before, or be disqualified during, an event.

(22)		Snooker

	(a)	A sports bookmaker may accept bets on the following contingencies:-

(i)	Outcomes relating to individual matches or series of matches.

	(b)	The following special conditions apply to betting on snooker:-

(i)	All bets are play or pay when the bet is made and no refund will be given should a player withdraw or be disqualified either before or during an event.

(23)		Darts

	(a)	A sports bookmaker may accept bets on the following contingencies:-

(i)	Outcomes relating to individual games or series of games.

	(b)	The following special conditions apply to betting on darts:-

(i)	All bets are play or pay when the bet is made and no refund will be given should a player withdraw or be disqualified either before or during an event.

(24)		Rowing

	(a)	A sports bookmaker may accept bets on the following contingencies:-

(i)	Outcomes relating to an individual event or series of events;

	(b)	The following special conditions apply to betting on rowing:-

(i)	No bet shall be laid against a competitor who has not qualified for a Final; and
(ii)	All bets on a Final are play or pay when the bet is made and no refund will be given should a competitor or team withdraw before, or be disqualified during, the Final.

(25)		Netball

	(a)	A sports bookmaker may accept bets on the following contingencies:-

(i)	Outcomes relating to an individual game or series of games.

	(b)	The following special conditions apply to betting on netball:-

(i)	In betting on individual games, bookmakers may give points start - in which, in every case, shall be declared to a half of one point; and
(ii)	All bets on a team to reach the final series, win a premiership etc or a player to win an award are play or pay when the bet is made and no refund will be given should a team or player withdraw or be disqualified either before or during a competition.

(26)		Iron Man

	(a)	A sports bookmaker may accept bets on the following contingencies:-

(i)	Outcomes relating to an individual event or series of events.

	(b)	The following special conditions apply to betting on iron man:-

(i)	No bet shall be laid against a competitor who has not qualified for an event; and
(ii)	All bets on an event are play or pay when the bet is made and no refund will be given should a competitor withdraw or be disqualified either before or during an event.

(27)		Surfing

	(a)	A sports bookmaker may accept bets on the following contingencies:-

(i)	Outcomes relating to an individual event or series of events.

	(b)	The following special conditions apply to betting on surfing:-

(i)	No bet shall be laid against a competitor who has not qualified for an event; and
(ii)	All bets on an event are play or pay when the bet is made and no refund will be given should a competitor withdraw or be disqualified either before or during an event.

(28)	Olympic Games events (Summer and Winter)

	(a)	A sports bookmaker may accept bets on the following contingencies:-

(i)	A contestant or team to win an event;
(ii)	A contestant or team to place in an event;
(iii)	A contestant or team to break a World or Olympic record;
(iv)	The total gold medals won by a contestant or team in a specific sport or over the duration of the Olympic Games Tournament.
(v)	The total medals won by a contestant or team in a specific sport or over the duration of the Olympic Games Tournament.

	(b)	The following special conditions apply to betting on Olympic Games events:-

(i)	All bets will be settled on the basis of the initial gold medal presentation ceremony, irrespective of any subsequent appeal; and
(ii)	All bets are play or pay when the bet is made and no refund will be given should a competitor or team withdraw, or be disqualified, before or during a race, event or contingency.

(29)	Commonwealth Games events

	(a)	A sports bookmaker may accept bets on the following contingencies:-

(i)	A contestant or team to win an event;
(ii)	A contestant or team to place in an event; and
(iii)	A contestant or team to break a World or Commonwealth record.

	(b)	The following special conditions apply to betting on Commonwealth Games events:-

(i)	All bets will be settled on the basis of the initial gold medal presentation ceremony, irrespective of any subsequent appeal; and
(ii)	All bets are play or pay when the bet is made and no refund will be given should a competitor or team withdraw before, or be disqualified during, a race, event or contingency.

(30)	Political Elections

	(a)	A sports bookmaker may accept bets on the following contingencies -

(i)	A party or candidate to win an election;
(ii)	The number of seats a party or candidate will win;
(iii)	The number of seats by which a party or candidate will win an election;
(iv)	The number of seats in a particular State or Territory that a party or candidate will win; and 
(v)	The percentage swing for/against a party or candidate;

	(b)	The following special conditions apply to betting on Political elections - 

(i)	For the House of Representatives, bets will be settled on the basis of the official results declared by the Australian Electoral Commission returning officer in each Division (seat);
(ii)	For the Senate, bets will be settled on the basis of the official results declared by the Australian Electoral Officer for each State or Territory;
(iii)	For betting on US presidential elections, bets will be settled on the basis of results declared by the US Federal Elections Commission; and
(iv)	For betting on UK national elections, bets will be settled on the basis of results declared by the Returning Officer.

(31)	Academy Awards

	(a)	A sports bookmaker may accept bets on the following categories -

(i)	Best Film;
(ii)	Best Actor;
(iii)	Best Actress;
(iv)	Best Supporting Actor;
(v)	Best Supporting Actress; and
(vi)	Best Director

	(b)	The following special conditions apply to betting on the Academy Awards - 

(i)	Bets will be settled on the basis of the official results determined by the Academy of Motion Picture Arts and Sciences;
(ii)	In the event that the Academy of Motion Picture Arts and Sciences declares the result of a particular category a tie, all moneys betted will be added together and equally divided; and
(iii)	No bet shall be laid against an actor, actress, film or director who has not been nominated for an award.

(32)	Cycling

	(a)	A sports bookmaker may accept bets on the following contingencies:-

(i)	Outcomes relating to an individual event or series of events.

	(b)	The following special conditions apply to betting on cycling -

(i)	All bets on a team or rider are play or pay when the bet is made and no refund will be given should a team or rider withdraw or be disqualified either before or during an event.

C	Minimum and maximum bet levels

1	The following bet levels apply in respect of determined sports betting events:-

1.1	The minimum and maximum face value of bets accepted shall be at the discretion of the licensed sports bookmaker.

1.2	Except where otherwise provided in this Determination, in respect of betting on any event, sports bookmakers shall, if requested by the backer, be compelled to lay odds to lose $2,000 in respect of any contingency or event.

D	Methods of betting

3.	The following special conditions apply in respect of bets accepted by the Internet:-

3.1	Sports bookmakers shall not commence to accept bets via the Internet without obtaining prior written approval of the ACT Gambling and Racing Commission.

3.2	In seeking the approval under 3.1, a sports bookmaker shall provide to the ACT Gambling and Racing Commission:-

3.2.1	an independent audit of the Internet sports bookmaking and control system, which details and confirms the integrity and security of the total sports bookmaking and control system;

3.2.2	evidence that that the systems to be used in accepting bets via the Internet fully comply with the national standards for interactive wagering systems;

3.2.3	details in respect of each and every point of presence on the Internet and each and every Internet Service Provider (ISP) utilised by the bookmaker; and

3.2.4	details of each and every ISP line utilised by the sports bookmaker.

3.3	Following the receipt of approval under 3.1, a sports bookmaker shall advise the ACT Gambling and Racing Commission, in writing, of any proposal to:-

3.3.1	vary an existing Internet point of presence or ISP arrangement

3.3.2	vary the nature or number of ISP lines utilised by the bookmaker.

3.4	A sports bookmaker shall not have a direct or indirect commercial interest or stakeholding in any organisation or activity, other than under an agreement where the parties are dealing with each other at arms length, that provides the sports bookmaker with its ISP facilities or services or Internet point of presence services or facilities.

3.5	A sports bookmaker shall not enter into an agreement, arrangement or understanding with an ISP or any other person or entity to manipulate, vary or encrypt betting transactions provided from a client or betting confirmations provided to a client.

3.6	Sports bookmakers utilising the Internet to transact betting activity shall provide a manual reconciliation detailing all bets accepted, total gross movements in betting account balances of clients and total gross movements in the bank accounts of the bookmaker.

3.7	The reconciliation required under 3.6, must be supported by bank statements and be provided to the ACT Gambling and Racing Commission on a monthly basis.

3.8	Sports bookmakers shall provide a confirmation in respect of each valid bet transmitted to the sports bookmaker via the Internet.  The confirmation can take the form of either:-

(i)	a system generated confirmation message;
(ii)	a return message via Electronic mail; 
(iii)	a facsimile message to the punter; or
(iv)	a telephone confirmation using the approved telephone system.

3.9	A bet from a backer received by the Internet is not accepted until a confirmation of the transaction, via any method as identified in 3.8, is provided by the sports bookmaker to the backer.

3.10	In respect of each confirmation which relates to a betting transaction requested via the Internet, the following information must be able to be clearly identified by the backer:-

(i)	the identification of the sports bookmaker;
(ii)	the number of the betting ticket;
(iii)	the name and/or account number of the backer; 
(iv)	the full details of the bet, including the amount;
(v)	the amount to be won by the backer (if applicable);
(vi)	the date the bet was accepted; and
(vii)	the time the bet was accepted.

3.11	Sports bookmakers shall maintain a log, in a form advised in writing by the ACT Gambling and Racing Commission, of all Internet betting transactions.

3.12	Sports bookmakers shall provide to the ACT Gambling and Racing Commission, on a weekly basis, the log of Internet betting transactions by Electronic mail or direct file transfer.

E	Handling of money held on behalf of clients

1.	Bank Account

1.1	Sports bookmakers shall establish a segregated bank account specifically for the purpose of holding money on behalf of clients.

1.1.1	All moneys provided by clients are to be maintained in the segregated client accounts.

1.1.2	For the purpose of this section, a segregated account means an account, established for the purpose, that holds all client moneys.

1.1.3	Funds standing to the credit of the segregated bank accounts shall be treated in accordance with the provisions of the Trustee Act 1957.

2.	Withdrawals from the segregated account

2.1	Sports bookmakers may, upon the determination of the outcome of the bet, withdraw funds from the segregated account.

3.	Interest

3.1	Interest earned on the funds standing to the credit of the segregated account, shall accrue to the sports bookmaker.

F	Requirements for record-keeping

1.	Sports bookmakers shall record all betting transactions, including bet backs, in respect of all approved sports bookmaking events.

2.	Betting transactions shall be recorded on the form made available by ACT Gambling and Racing Commission for the purpose or on an approved computer system.

3.	Each betting transaction must clearly indicate the method by which the bet was transacted.

4	On the form supplied by the ACT Gambling and Racing Commission for the purpose, sports bookmakers shall provide monthly reports to the ACT Gambling and Racing Commission of all betting transactions, broken down by individual sport and method of bet.

5.	At the time of submitting the monthly licence fee payment in respect of all bets accepted, the original of the betting sheet(s) or computer printout(s) must be forwarded to the ACT Gambling and Racing Commission.  A copy of the monthly return is to be retained by the sports bookmaker.

RULES FOR SPORTS BOOKMAKING AT MANUKA OVAL

Definitions	In these rules:-

"betting sheets" means the form made available by the ACT Gambling and Racing Commission for the purpose of recording sports bets.

“debit bet” means a bet where the sports bookmaker debits an account established by the backer for the purposes of betting.

"long term wager" means a cash bet, credit card bet or a debit bet on an approved sporting event or contingency, where the outcome of the approved sporting event or contingency will not be decided within a period of twenty eight (28) days from the date of making the bet.

A	Requirements for different sports bookmaking events

1.	The requirements for different sports bookmaking events, are the same as those set out in this determination under “RULES FOR SPORTS BOOKMAKING NOT AT MANUKA OVAL” at parts:
– “A	General requirements for sports bookmaking events”; and
– “B	Individual requirements for sports bookmaking events”.

B	Minimum and maximum bet levels

1	The following bet levels apply in respect of determined sports betting events:-

1.1	The minimum and maximum face value of bets accepted shall be at the discretion of the licensed sports bookmaker however, sports bookmakers shall, if requested by the backer, be compelled to lay odds to lose $1,000 in respect of any contingency or event.

C	Methods of betting

1.	Sports bookmakers are only permitted to accept face-to-face bets at Manuka Oval.

D	Requirements for the handling of money held on behalf of clients

1.	The requirements for the handling of money held on behalf of clients are the same as those set out in this determination under “RULES FOR SPORTS BOOKMAKING NOT AT MANUKA OVAL” at part:
– E   Handling of money held on behalf of clients”.

E	Requirements for record-keeping

1.	Sports bookmakers shall record all bets accepted;

2.	Bets shall be recorded on the form made available by the ACT Gambling and Racing Commission for the purpose or on an approved computer system;

3.	On the form supplied by the ACT Gambling and Racing Commission for the purpose, sports bookmakers shall provide a report to the ACT Gambling and Racing Commission of all bets accepted at Manuka Oval, broken down by individual sport.

4	At the time of submitting the monthly licence fee payment in respect of all bets accepted, the original of the betting sheet(s) or computer printout(s) must be forwarded to the ACT Gambling and Racing Commission.  A copy of the betting sheet(s) is to be retained by the sports bookmaker.

	SECTION II - RULES FOR SPREAD BETTING

This Section II applies only to spread betting.  To the extent of any inconsistency between Section I and Section II, in relation to spread betting, the provisions of this Section II shall prevail.

Definitions	In this Section:-

“the Act” means the Race and Sports Bookmaking Act 2001.

“client” means a person who enters or proposes to enter into a spread bet with a sports bookmaker.

“client’s win or loss” is determined, subject to these rules, by reference to:

(i)	the selected outcome;
(ii)	the index offered by the sports bookmaker at the time of making the bet;
(iii)	the make-up; and
(iv)	any applicable stop loss / stop win limit.

“conclusion of a match” includes any period or periods of extra time played, where the scores are tied at the end of the scheduled match time.

“index” means the predicted outcome of a particular contingency expressed as a numerical range.

“make-up” is the final numerical result of each betting contingency which is used to calculate the client’s win or loss.

“Performance index” means a sports spread betting market where an artificial points scale is used to measure the outcome of an underlying sporting event or contingency.

"sports bookmaker" means an individual bookmaker, syndicate or company granted a sports betting licence under Section 39G of the Bookmakers Act 1985.

“spread bet” means a bet in which the client selects an outcome which is higher or lower than the index set by a sports bookmaker at that time.  Spread betting has a corresponding meaning.

“stop loss / stop win” is a figure determined, for certain contingencies, that limits the maximum make-up of those contingencies.

PART A

1.	General Principles of Conduct

1.1	In providing the spread betting service, a sports bookmaker shall:-

1.1.1	observe high standards of integrity and fair dealing.

1.1.2	act with due skill, care and diligence.

1.1.3	seek from clients it deals with such information about their circumstances which might reasonably be expected to be relevant in enabling it to fulfil its responsibilities to them.

1.1.4	take reasonable steps to give a client it deals with, in a comprehensible and timely way, any information needed to enable a balanced and informed decision to be made.

1.1.5	be ready to provide a client with a full and fair account of the fulfilment of its responsibilities to the client.

1.1.6	not unfairly place its interests above those of its clients and, where a properly informed client would reasonably expect that the sports bookmaker would place the client’s interests above its own, the sports bookmaker should live up to that expectation.

1.1.7	take all steps necessary to ensure that where control or responsibility for assets belonging to a client which the sports bookmaker is required to safeguard, it should arrange proper protection for them, by way of segregation and identification of those assets.

1.1.8	ensure that it maintains adequate financial resources to meet its business commitments and to withstand the risks to which its business is subject.

1.1.9	organise and control its internal affairs in a responsible manner and keep proper records.

1.1.10	ensure that staff are adequately trained and properly supervised and that well-defined compliance and credit management procedures are established.

1.1.11	promptly inform the ACT Gambling and Racing Commission of any matter concerning the operations of the sports bookmakers which might reasonably be expected to be disclosed.

2.	General Rules

2.1	Indemnities against contraventions

2.1.1	A sports bookmaker shall not enter into any contract, arrangement of understanding pursuant to which it would be indemnified against any breach of these rules.

2.2	Confidentiality

2.2.1	The ACT Gambling and Racing Commission may, by notice in writing, require a sports bookmaker to provide, within 14 days or such longer period as may be specified in the notice, information concerning the sports bookmaker’s spread betting operations in general, or its spread betting transactions with a particular client:

	(a)	in accordance with section 59 of the Act; or

	(b)	as otherwise reasonably required by the ACT Gambling and Racing Commission for the purposes of the Act or these rules.

2.2.2	For the purpose of rule 2.2.1, a sports bookmaker shall not, in obtaining any information from a client, give any undertaking or enter into any obligation of confidentiality regarding that information unless the sports bookmaker would not otherwise be able reasonably to carry on its business.

2.3	Service of documents

2.3.1	Documents shall be served to the address provided to the ACT Gambling and Racing Commission pursuant to Section 28 of the Act.

2.4	Responsibility of a sports bookmaker for employees and agents.

2.4.1	A sports bookmaker is responsible for any acts, omissions and statements of its employees and sports bookmaking agents.

2.5	Recording of transactions

2.5.1	Each sports bookmaker shall record the following details in relation to each transaction which the bookmaker will or may arrange or execute with its clients:-

	(a)	the basis on which the price and the terms of the contract will, from time to time, be determined;

	(b)	the bet sizes in which the firm will be willing to deal in respect of each contract; and

	(c)	how each contract may be entered into and closed out.

2.6	Continuous business

2.6.1	Each sports bookmaker providing the spread betting service shall ensure the continuance of business during the hours of play of any contingency, upon which the spread betting product is offered, so that clients can close positions.

2.6.2	The provisions of 2.6.1 do not apply to a sporting contingency where a sports bookmaker has clearly displayed on all non-voice communication and advised clients prior to the acceptance of a bet, the set trading hours in respect of that contingency.

2.6.3	In order to provide the spread betting product, sports bookmakers shall ensure that during normal business hours, the sports bookmaker shall:-

	(a)	on request, declare terms to clients upon which the sports bookmaker is willing to deal; and 

	(b)	on request, deal with clients in a size as per terms just declared.

2.7	Potential break in business continuity

2.7.1	Where a sports bookmaker’s spread betting service would be significantly affected by the death or incapacity of any individual, the sports bookmaker must make prior arrangements for the protection of the interests of the firm’s clients in the event of such an occurrence.

2.8	Provision for cessation of business

2.8.1	Where a sports bookmaker decides to cease carrying out sports spread betting, prior notice must be given to the ACT Gambling and Racing Commission, together with details as to the arrangements that have been made in order to wind down client open positions and client accounts in an orderly manner.

2.9	Compliance function.

2.9.1	To ensure adherence to the various requirements for the provision of the spread betting service, each sports bookmaker shall advise the ACT Gambling and Racing Commission of the person who is responsible for compliance with these rules.

3.	Notification Requirements

3.1	Written notification

3.1.1	A sports bookmaker must give the ACT Gambling and Racing Commission immediate written notification where the company is subject to:

	(a)	a petition/resolution meeting/ to wind up firm/ subsidiary/ holding company;

	(b)	the appointment of a receiver/administrator/trustee;

	(c)	an arrangement with creditors;

	(d)	the winding up of a partnership;

	(e)	banking/ financial services/ credit conviction or any fraud, dishonesty or tax offence;

	(f)	a change in registration from unlimited to limited; and

	(g)	general partner becoming limited partner.

3.1.2	A sports bookmaker must give the ACT Gambling and Racing Commission immediate written notification of the occurrence of:

	(a)	the appointment of inspectors by a statutory or regulatory authority to investigate the affairs of the sports bookmaker; and/or 

	(b)	the bringing of any action against the sports bookmaker under the corresponding laws of any State or Territory.

3.1.3	A sports bookmaker must notify the ACT Gambling and Racing Commission immediately regarding any transaction or event which has, or is likely to involve a breach of the rules or other matter which could lead to a material change concerning fitness and propriety.

4.	Financial Rules

4.1	Financial information

4.1.1	A sports bookmaker providing the spread betting service shall ensure that effective systems of internal financial control are established and complied with. 

4.1.2	Records must be maintained in such a way that they are capable of disclosing, in a prompt and appropriate manner, financial and business information to enable the sports bookmaker to:

	(a)	identify and control the risk exposures;

	(b)	make timely and informed decisions;

	(c)	monitor the trading performance on an up-to-date basis;

	(d)	monitor the quality of the assets; and

	(e)	safeguard its assets and those belonging to others for whom the sports bookmaker is responsible for.

4.2	Monthly reporting

4.2.1	By the 28th day of the following month, each sports bookmaker shall provide to the ACT Gambling and Racing Commission, a report detailing:-

	(a)	all spread bets accepted during the month;

	(b)	the events upon which the spread bets relate;

	(c)	the total exposure to client open positions on a mark to market basis;

	(d)	the total amount of funds held on behalf of clients, as at the end of the month; and

	(e)	details of client positions closed due to non payment of margin calls.

5.	Treatment of client funds

5.1	Definition of client money

5.1.1	For the purpose of this section, client money is money of any currency which, in the course of carrying on investment business, a sports bookmaker holds in respect of any investment agreement entered into, or to be entered into, with or for a client.

5.1.2	Client money includes cash, cheques, bank deposits and transfers and other payable orders.  The responsibility for client money arises at the point of receipt, even if the funds are not banked until later.

5.1.3	Money is not client money if it is immediately due and payable to the sports bookmaker or it is not held in (or it is properly withdrawn from) a client bank account.

5.2	Client bank accounts

5.2.1	Sports bookmakers shall establish a segregated bank account, with a Financial Institution issued a Banking Licence by the Reserve Bank of Australia, specifically for the purpose of holding money on behalf of clients.

5.2.2	All moneys provided by clients or the proceeds of winning bets, credited to account clients, are to be maintained in the segregated client accounts.

5.2.3	Sports bookmakers shall, upon the determination of the outcome of the bet and as soon as practicable, credit the appropriate winnings of the bet to the client segregated account.

5.2.3	For the purpose of this section, a segregated account means an account, established for the purpose, that holds all client moneys.

5.2.4	Funds standing to the credit of the segregated bank accounts shall be treated in accordance with the provisions of the Trustee Act 1957.

5.3	Withdrawals from the segregated account

5.3.1	Sports bookmakers may, upon the determination of the outcome of the bet, withdraw funds from the segregated account.

5.4	Interest on client balances

5.4.1	Interest earned on the funds standing to the credit of the segregated account, shall accrue to the sports bookmaker.

6.	Conduct of spread betting business

6.1	Procedures Manual

6.1.1	A sports bookmaker shall establish a procedures manual to demonstrate compliance with these rules and to ensure proper spread betting business practices are conducted.

6.1.2	A sports bookmaker shall submit its procedures manual to the ACT Gambling and Racing Commission for approval prior to commencement of spread betting operations.

6.1.3	A sports bookmaker shall conduct its spread betting business at all times in accordance with its procedures manual.

6.2	Opening a client account

6.2.1	Before a sports bookmaker may open client accounts for the purpose of spread betting, the sports bookmaker must have adequate procedures for ensuring that applicants for a client account are suitable for undertaking sports spread betting.

6.2.2	Sports bookmakers must ensure that client files evidence adherence to these procedures.

6.2.3	In assessing whether an individual is suitable for dealing in sports spread betting a sports bookmaker must have regard to facts disclosed by the applicant and other relevant applicant facts the sports bookmaker is, or should reasonably be, aware of.

6.3	Terms of Business advice

6.3.1	Before accepting an individual as a client for sports spread betting, a sports bookmaker must ensure that:-

	(a)	the applicant has been issued with a Terms of Business advice setting out in adequate detail the basis on which the services are to be provided;

	(b)	the sports bookmaker has received back from the applicant a signed copy of that Terms of Business advice; and

	(c)	the sports bookmaker is satisfied that the individual has had a proper opportunity to consider the Terms of Business advice.

6.3.2	The Terms of Business advice of a sports bookmaker should contain the following details:-

	(a)	clients’ need for understanding of sports spread betting;

	(b)	details of charging structure to the client; and

	(c)	margin requirements.

6.3.3	The Terms of Business of a sports bookmaker must not, in any way, exclude or restrict customers' rights either under any legislation, nor must it seek to exchange or restrict any other duty to act with skill, care and diligence nor any liability owed to a client.

6.3.4	A sports bookmaker offering spread betting services must submit its Terms of Business advice to the ACT Gambling and Racing Commission for approval prior to issuing this document to any client.

6.3.5	A sports bookmaker offering spread betting services must deal with clients on the terms and conditions set out in its Terms of Business advice.

6.3.6	If the sports bookmaker wishes to vary its terms of dealing, it must produce a revised Terms of Business advice which shall be subject to the requirements of this clause 6.3.

6.4	Risk Warning Notices

6.4.1	Before accepting any individual as a client for sports spread betting the sports bookmaker must first:-

	(a)	have issued that individual with a Risk Warning Notice;

	(b)	have received back from the individual a signed copy of the Risk Warning Notice; and

	(c)	be satisfied that the individual has had a proper opportunity to consider the terms of the Risk Warning Notice.

6.4.2	A sports bookmaker offering spread betting services must submit its Risk Warning Notice to the ACT Gambling and Racing Commission for approval prior to issuing the this document to any client.

6.4.3	If the sports bookmaker wishes to vary its risk warning provisions, it must produce a revised Risk Warning Notice which shall be subject to the requirements of this clause 6.4.
6.5	Client Dealings

6.5.1	In the course of carrying out sports spread betting business, a sports bookmaker can:-

	(a)	give statements in relation to a transaction about which any person has enquired on the following matters:-

		(i)	procedures for effecting the transaction;

		(ii)	risks to which the person may be exposed on effecting the transaction; or

		(iii)	how such risks may be minimised; and

	(b)	give statements comprising factual sports information including historical information.

6.5.2	In the course of carrying out sports spread betting business, a sports bookmaker shall not:-

	(a)	give any advice to the client relating to the outcome of an event in relation to the bet price offered; and/or

	(b)	make or issue any statement of opinion likely to directly encourage any person to enter into a specific transaction.

6.5.3	A sports bookmaker must ensure that clients are dealt with fairly and in due turn.

6.5.4	A sports bookmaker and its employees must not offer, or give, or solicit, or accept any inducement likely to conflict with duties of the recipient (or employer) owed to clients.

6.6	Margin Requirements

6.6.1	In carrying out sports spread betting with a client, the sports bookmaker must ensure that:

	a)	clients are required to provide margin, payable at outset or subsequently; and

	b)	the daily margin to be paid by clients is monitored so that the aggregate amount of such margin is always covered by cash, collateral or open positions marked to market; and that shortfalls are funded by the sports bookmaker until the difference is eliminated.

6.6.2	A sports bookmaker must ensure that where a client remains in excess of his/her deposit and profitable open positions, or in the case of credit accounts or cash balances, open profits and credit limits, after five business days the sports bookmaker shall:

	(i)	close all the client’s open positions; and

	(ii)	accept no further sports spread bets until margin has been received;

		unless

	(i)	the margin call has been waived because the bet has moved to bring the client back within his/her credit limit;

	(ii)	the client has been contacted and has undertaken to forward the appropriate margin forthwith;

		and the sports bookmaker is satisfied, on reasonable grounds, that the failure to supply the margin monies is due to circumstances beyond the customer's control.

		and the sports bookmaker makes a written record in respect of that client of:

	(a)	the amount unpaid;

	(b)	the date of payment for the outstanding amount;

	(c)	details of the relevant transactions and steps taken by the sports bookmaker and client to reduce the balance to below the credit limit; and

	(d)	in the case of a credit client, the excess amount called for from him/her.

6.6.3	Before sports spread betting can be provided by a sports bookmaker, the sports bookmaker must ensure that, by way of a two-way agreement with clients (which can be part of the Terms of Business advice), the client understands:-

	(a)	the circumstances when margin is required;

	(b)	in what form;

	(c)	the steps the sports bookmaker shall take if a client fails to meet a margin call;

	(d)	that such steps include the closing of all or some open positions after a set time limit, and that the sports bookmaker is required to close open positions after 5 business days; and

	(e)	any other circumstances of closing without prior reference.

6.6.4	Where a decision is made to close open position(s), resulting from a client failing to meet a margin call after five business days, the decision shall be recorded by the sports bookmaker and be confirmed, in writing, to the client.

6.7	Stop Loss/Stop Win Limits

6.7.1	In providing the sports spread betting service to clients, a sports bookmaker shall ensure that stop loss/stop win limits are established and adhered to.

6.7.2	The stop loss/stop win limits for approved sports bookmaking events and contingencies shall be in accordance with the limits determined in Part B of this section:-

6.7.3	The provisions of 6.7.1 do not apply to:-

	(a)	bets placed on a performance index where there is a natural stop win and stop loss limit;
	(b)	bets placed on a sporting or other contingency where there is a natural stop win and stop loss limit;
	(c)	clients who have been able to demonstrate to the sports bookmaker a sound knowledge of the sports spread betting service; or
	(d)	credit clients who have an approved credit limit of $25,000 or greater.

6.7.4	In the case of 6.7.3 (c) and 6.7.3 (d), each client must confirm, in writing, his/her willingness to make sports spread bets without stop loss/stop win protections in place.

6.8	Netting of client moneys

6.8.1	Unless explicitly agreed to by the client, a sports bookmaker providing the sports spread betting service shall not net the results of bets of individual clients.

6.9	Client Confirmations and periodic information

6.9.1	A sports bookmaker must provide every client with a periodic statement at least once every calendar month containing:-

	(a)	the sports bookmaker’s name; and

	(b)	the name of the client, the account number of the client and current account balance.

6.9.2	The client statement provided by the sports bookmaker shall provide:

	(a)	details of each closed bets since the last statement;

	(b)	details of current open bets; and

	(c)	details of each transaction made since the last statement including the:-

		(i)	bet date;

		(ii)	time of bet, or a statement that the bet date is available on request;

		(iii)	description of the bet;

		(iv)	prompt date of the contract;

		(v)	nature of the contract - buy or sell;

		(vi)	purchase price; and

		(vii)	profit or loss of each closed bets.

6.10	Advertising

6.10.1	Any advertisement which includes details of a sports bookmakers spread betting business activities, regardless of whether it represents the main theme of the advertisement, must comply with these rules.

6.10.2	Where a sports bookmaker knows, or should know, that another party intends or is in the process of issuing a sports spread betting advertisement either in the ACT or elsewhere, which directly or indirectly advertises the sports bookmaker’s sport spread betting, the sports bookmaker must take reasonable steps to ensure it is fair and not misleading and has necessary disclosures.

6.10.3	Sports spread betting advertisements shall contain the risk warning:

	(i)	Spread betting may not be suitable for all punters; therefore ensure you fully understand the risks involved, and seek advice if necessary;

	plus two of the following risk warnings:-

	(ii)	Sports spread bets can carry a high level of risk to your capital;

	(iii)	Only bet with money you can afford to lose;

	(iv)	Sports spread betting can be very volatile.

6.10.4	Any advertisement in the electronic media shall only contain risk warning (iv) above.

6.10.5	Where a sports bookmaker issues or causes to be issued or approves an advertisement which details the sports bookmaker’s sports spread betting business, then the sports bookmaker shall:-

	(a)	apply appropriate expertise;

	(b)	be able to show that the sports bookmaker believes on reasonable grounds that the advertisement is fair and not misleading; and

	(c)	make it clear that the advertisement is issued or approved by the sports bookmaker and that the sports bookmaker is licensed by the ACT Government.

6.11	Fair and clear communications .

6.11.1	A sports bookmaker must take reasonable steps to ensure that any written agreement, communication, notification or information it sends or gives to a client is presented fairly and clearly.

6.11.2	A sports bookmaker must take reasonable steps to ensure that its clients are given adequate information about the sports bookmaker including business address and the identity and status of employees and other sports bookmaking agents with whom the client has contact.

6.12	Client Complaints.

6.12.1	Sports bookmakers providing the spread betting service shall establish a Register of Client Complaints to record all complaints received from clients.

6.12.2	Where a sports bookmaker receives a complaint from a customer in respect of sports spread betting, the sports bookmaker shall:-

	(a)	take prompt and proper remedial action by an independent officer;

	(b)	make a record of the complaint, the sports bookmaker’s response and notes of any actions taken, in the Register of Client Complaints; and

	(c)	advise the client of his/her further right to take the complaint to the ACT Gambling and Racing Commission, in accordance with the provisions of the Race and Sports Bookmaking Act 2001.

6.13	Record Keeping

6.13.1	A sports bookmaker must take reasonable steps, including the establishment and maintenance of procedures, to ensure that sufficient information is recorded and retained relating to the sports spread betting business and compliance with these rules.

6.13.2	The records relating to a particular client (including a former client who was a client within the previous 12 month period) must be made available to that client within a reasonable time of request.  The records must include any written material relating to the client which the sports bookmaker has sent or is required to send to that client under these Rules, and copies of any correspondence received from that client relating to the sports spread betting activity.

6.14	Storage of records.

6.14.1	A sports bookmaker must retain, for a period of one year all client records relating to sports spread betting, including those of ex-clients.

6.15	Approved Spread Betting events

6.15.1	A sports bookmaker shall only accept spread bets on the sports bookmaking events listed in Part B of this Section.

6.16	Approved Sports Bookmaking Events for Spread Betting

6.16.1	A sports bookmaker shall only accept sports spread bets on the contingencies listed in Part B of this Section.

6.17 		Margin of performance indexes

6.17.1	In framing performance indexes, a sports bookmaker shall not allow the margin in favour of the sports bookmaker to exceed of 25%.

7.	The Granting of Credit

7.1	The granting of credit to a client.

7.1.1	Before granting credit to a client for the purposes of sports spread betting, a sports bookmaker must be satisfied that the credit arrangements and amounts concerned are suitable for that client having regard to information disclosed by the client of which the sports bookmaker is, or should reasonably be, aware.

7.1.2	In assessing the suitability of granting credit to a client a sports bookmaker should take account of:-

	(a)	the client's knowledge and understanding of the nature of the risks of the relevant transactions and investment services;

	(b)	frequency and capacity of previous dealings, if any, by the client;

	(c)	the size and nature of proposed transactions; and

	(d)	the client's financial position.

7.2	Opening a credit account

7.2.1	Upon opening a credit account with a client, a sports bookmaker shall:-

	(a)	agree a credit limit, in writing, with the client;

	(b)	include a written warning that the client should limit the total amount he/she would be prepared to, and can afford to, lose; and

	(c)	detail the requirements imposed by these rules by way of margin calls and the requirement to close open bets if monies are not received by the sports bookmaker in accordance with the five day rule for margin calls.

7.3	Monitoring of credit limits

7.3.1	A sports bookmaker must take reasonable steps to ensure that a client’s credit limit remains suitable for that client.

7.3.2	Reference should be made to the initial proof of liquidity provided with the initial application for a credit account and to subsequent aggregate losses (or profits).

7.4	Extension of established credit limit

7.4.1	Where a sports bookmaker decides to extend the level of credit to a client, the sports bookmaker must do so in accordance with its credit management policy.

7.5	Credit management policy

7.5.1	To ensure that only suitable applicants are granted appropriate credit accounts, a sports bookmaker providing the sports spread betting service shall develop and comply with a credit management policy.

7.5.2	The credit management policy shall be consistent with these rules.

7.5.3	A sports bookmaker shall submit its credit management policy to the ACT Gambling and Racing Commission for approval prior to commencement of sports spread betting operations.

7.5.4	A sports bookmaker shall at all times act in accordance with its credit management policy in relation to granting or extending credit to a client.

PART B

A	General Requirements for sports bookmaking events

Except as identified in specific sports, the following rules apply to spread betting markets for all sporting or other contingencies:-

(i)	If a match is abandoned and no result is declared, all open bets are voided and closed bets stand;
(ii)	All open bets stand on postponed matches played within seven days of the scheduled date;
(iii)	All open bets are to be voided on matches postponed longer than seven days;
(vi)	Except for bets on Rugby League, Rugby Union and Soccer, all bets related to time will be settled on the minute during which the event occurs;
(v)	All bets will be settled on the basis of the official results declared at the conclusion of a match/tournament etc. by the appropriate Controlling Authority;
(vi)	If a match, which involves a team or individual quoted in a mythical match bet, is unable to be completed for any reason, then the mythical match bet shall be void; and
(vii)	In the event that a named participant withdraws, prior to the commencement, from an event where a Performance Index has been prepared, all open bets are voided and closed bets stand;
(viii)	All bets related to time will be settled on the minute during which the event actually occurs; and
(ix)	In betting on total premiership points, should any team have points deducted or added to their total during the season, the deduction/addition will be included in the calculation of that team’s total points score for the season.

B	Individual Requirements for sports bookmaking events

The following rules apply to spread betting markets as identified:-

 (1)		Rugby League

	(a)	A sports bookmaker may provide spread betting markets upon the following Rugby League contingencies.

(i)	Individual matches - total points	
(ii)	Individual matches - superiority	
(iii)	Jumper numbers	
(iv)	Total points in season	
(v)	Individual player’s points in a season	
(vi)	Individual team’s premiership points in a season	
(vii)	Time of first try	
(viii)	Performance Index	

	(b)	The following special conditions apply to spread betting on
Rugby League: 

(i)	In the event of cancellation or postponement of a game for more than seven days, any market with regard to the total number of points in a group of matches will be pro-rated at the mid-market quote at the time of the cancellation or postponement;
(ii)	Bets on Rugby League matches are for the scheduled period plus injury time, but excluding extra time;
(iii)	Bets on the amount of time before the first try, penalty etc. will, in the case of no score, or the score occurring in injury time, be settled as if the first score had occurred at the end of the scheduled period; and
(vi)	For the purpose of markets relating to the jumper numbers of try scorers, in the event of a penalty try being awarded, the number deemed to have scored the try is 7.

	(c)	The following stop loss/stop win limits apply to spread betting on
Rugby League: 

			Stop loss/win
Full points	
(i)	Individual matches - total points		 40	
(ii)	Individual matches - superiority		 40	
(iii)	Jumper numbers		 50	
(iv)	Total points in season		100	
(v)	Individual player’s points in a season		100	

(2)		Australian Rules Football

	(a)	A sports bookmaker may provide spread betting markets upon the following Australian Rules Football contingencies.

(i)	Individual matches - total points	
(ii)	Individual matches - superiority	
(iii)	Individual player total goals in a match	
(iv)	Individual player total goals in a season	
(v)	Individual player - Brownlow medal votes	
(vi)	Team total goals in a season	
(vii)	Individual team’s premiership points in a season	
(viii)	Performance Index	

	(b)	The following special conditions apply to spread betting on
Australian Rules Football: 

(i)	In the event of cancellation or postponement of a game for more than seven days, any market with regard to the total number of points in a group of matches will be pro-rated at the mid-market quote at the time of the cancellation or postponement;
(ii)	Bets will be settled on the basis of the official results declared at the conclusion of a match by the Controlling Authority;
(iii)	Bets on Australian Rules Football matches are for the scheduled period plus injury time, but excluding extra time; and
(iv)	Bets on the amount of time before the first goal, behind etc. will, in the case of no score, or the score occurring in injury time, be settled as if the first score had occurred at the end of the scheduled period.

	(c)	The following stop loss/stop win limits apply to spread betting on
Australian Rules Football: 

			Stop loss/win
Full points	
(i)	Individual matches - total points		100	
(ii)	Individual matches - superiority		 75	
(iii)	Individual player total goals in a match		 10	
(iv)	Individual player total goals in a season		 50	
(v)	Individual player - Brownlow medal votes		 20	
(vi)	Team total goals in a season		100	

(3)		Rugby Union

	(a)	A sports bookmaker may provide spread betting markets upon the following Rugby Union contingencies.

(i)	Individual matches - total points	
(ii)	Individual matches - superiority	
(iii)	Jumper numbers	
(iv)	Total points scored in Super 12 series	
(v)	Individual team’s total points in a season	
(vi)	Individual player’s points in a season	
(vii)	Time of first try	
(viii)	Performance Index	

	(b)	The following special conditions apply to spread betting on
Rugby Union: 

(i)	In the event of cancellation or postponement of a game for more than seven days, any market with regard to the total number of points in a group of matches will be pro-rated at the mid-market quote at the time of the cancellation or postponement;
(ii)	Bets on Rugby Union matches are for the scheduled period plus injury time, but excluding extra time;
(iii)	Bets on the amount of time before the first try, penalty etc. will, in the case of no score, or the score occurring in injury time, be settled as if the first score had occurred at the end of the scheduled period; and
(iv)	For the purpose of markets relating to the jumper numbers of try scorers, in the event of a penalty try being awarded, the number deemed to have scored the try is 8.

	(c)	The following stop loss/stop win limits apply to spread betting on
Rugby Union: 

			Stop loss/win
Full points	
(i)	Individual matches - total points		 40	
(ii)	Individual matches - superiority		 40	
(iii)	Jumper numbers		 50	
(iv)	Total points scored in Super 12 series		200	
(v)	Individual team’s total points in season		100	
(vi)	Individual player’s points in a season		100	

(4)		Cricket

	(a)	A sports bookmaker may provide spread betting markets upon the following Cricket contingencies.

(i)	Test match - runs in innings	
(ii)	One-day match - runs in innings	
(iii)	Superiority	
(iv)	Individual batsman innings	
(v)	Performance Index	

	(b)	The following special conditions apply to spread betting on Cricket: 

(i)	All bets on one day cricket will be void if a team does not complete 90% of its allotted overs, unless the side has won, is dismissed or declares prior to that point;
(ii)	All bets on other cricket matches will be void if 50 overs are not bowled, unless the side has won, is dismissed or declares prior to that point;
(iii)	Bets on the number of runs a batsman will score in an innings are void if he/she does not go into bat;
(iv)	Bets on the number of runs a batsman will score in an innings stand, even if the match is curtailed for any reason, provided that at least one ball is bowled (whether to him/her or not) after he/she has gone in; and
(v)	If a player retires hurt and does not resume the innings, the score at the time of the retirement will be the make‑up.

	(c)	The following stop loss/stop win limits apply to spread betting on Cricket: 

			Stop loss/win
Full points	
(i)	Test match - runs in innings		300	
(ii)	One-day match - runs in innings		150	
(iii)	Superiority		100	
(iv)	Individual batsman innings		150	

(6)		Soccer

	(a)	A sports bookmaker may provide spread betting markets upon the following Soccer contingencies.

(i)	Individual matches - total goals	
(ii)	Individual matches - superiority	
(iii)	Number of corners in a game	
(iv)	Shirt numbers	
(v)	Total points in season	
(vi)	Individual player’s goals in a season	
(vii)	League points in a season	
(viii)	Time of first goal / corner	
(ix)	Performance Index	

	(b)	The following special conditions apply to spread betting on
Soccer: 

(i)	In betting on soccer, sports bookmakers are permitted to bet on 1/10th of an outcome on the following markets:-
(a)	number of goals; and
(b)	goal superiority.
(ii)	In the event of cancellation or postponement of a game for more than seven days, any market with regard to the total number of points in a group of matches will be pro-rated at the mid-market quote at the time of the cancellation or postponement;
(iii)	Bets on soccer matches are for the scheduled period plus injury time, but excluding extra time; and
(iv)	Bets on the amount of time before the first goal will, in the case of a goal-less draw, or the first goal occurring in injury time, be settled as if the first score had occurred at the end of the scheduled period.

	(c)	The following stop loss/stop win limits apply to spread betting on Soccer: 

			Stop loss/win
Full points	
(i)	Individual matches - total goals		  4	
(ii)	Individual matches - superiority		  4	
(iii)	Number of corners in a game		 20	
(iv)	Shirt numbers		 50	
(v)	Total points in season		 50	
(vi)	Individual player’s goals in a season		 30	

(7)		Tennis

	(a)	A sports bookmaker may provide spread betting markets upon the following Tennis contingencies.

(i)	Superiority - 5 set match	
(ii)	Superiority - 3 set match	
(iii)	Number of games in a match	
(iv)	Performance Index	
(v)	Number of aces	

	(b)	The following special conditions apply to spread betting on Tennis: 

(i)	If the maximum duration of a match is reduced all match bets will be void;
(ii)	If a player retires for any reason during the first set, all open bets are void and closed bets stand;
(iii)	If a player retires for any reason after a set has been completed, superiority will be settled on the score at the time of retirement; and
(iv)	If a player retires for any reason after a set has been completed, total games will be settled as if the rest of the match has been won to love.

	(c)	The following stop loss/stop win limits apply to spread betting on Tennis: 

			Stop loss/win
Full points	
(i)	Superiority - 5 set match		18	
(ii)	Superiority - 3 set match		12	
(iii)	Number of games in a match		25	

(8)		Golf

	(a)	A sports bookmaker may provide spread betting markets upon the following Golf contingencies.

(i)	Match bets - Individual - 18 or 36 holes	
(ii)	Match bets - Individual - 54 or 72 holes	
(iii)	Match bets - Team - 18 or 36 holes	
(iv)	Match bets - Team - 54 or 72 holes	
(v)	Number of players making cut/below par	
(vi)	Finishing positions	
(vii)	Performance Index	
(viii)	Winner’s score	

	(b)	The following special conditions apply to spread betting on Golf: 

(i)	In 18 and 36 hole match betting, if either player fails to complete the designated number of holes for any other reason other than disqualification, or unless the match is already over in the case of matchplay, all open bets will be void and all closed bets stand;
(ii)	In 18 and 36 hole match betting, if a player is disqualified, the opponent will be deemed a 5 shot winner in stroke play and a 5 hole winner in match play;
(iii)	The maximum make-up in 18 and 36 hole matches is 15;
(iv)	In 72 hole match betting, should either player miss the halfway cut, his/her score is doubled and compared to the other players four round total;
(v)	If both the players miss the halfway cut, both their scores will be doubled and compared;
(vi)	If a player retires or is disqualified, all open bets will be void and all closed bets stand;
(vii)	If a tournament is reduced to 54 or 36 holes, all matches will make-up as they stand providing both players have played the same course, the same number of times, if not, all open bets will be void and closed bets will stand;
(viii)	The maximum make-up in 54 and 72 hole matches is 25;
(ix)	In betting on finishing positions, a player who misses the cut, is disqualified or finishes in a position worse than 50th will be deemed to have finished 50th;
(x)	If there is a tie for any finishing position, the sum total of the positions tied shall be divided by the number of tied players to provide the make-up;
(xi)	In betting on tournament indices, should a player or team fail to complete one round, for any reason other than disqualification, then all bets are void;
(xii)	In the case of disqualification, the team or player is deemed to have finished last;
(xiii)	Should a player or team withdraw before commencement of play, all bets will be void;
(xiv)	Should a tournament be subject to a reduction in the number of holes played, all matches will make-up as they stand providing all players have played the same course, the same number of times, if not, all open bets will be void and closed bets will stand;
(xv)	In betting on winning strokes, the winner’s four round stroke total will be used for settlement purposes; and
(xvi)	Clause (xv) does not apply where a tournament is subject to a reduction in the number of holes played, in such cases the leader’s score will be pro-rated and regarded as the make-up.

	(c)	The following stop loss/stop win limits apply to spread betting on Golf:

			Stop loss/win
Full points	
(vi)	Number of players making cut/below par		50	

(10)		Motor Racing

	(a)	A sports bookmaker may provide spread betting markets upon the following Motor Racing contingencies.

(i)	Individual Points - race	
(ii)	Individual Points - season	
(iii)	Performance Index	

	(b)	The following special conditions apply to spread betting on Motor Racing: 

(i)	Bets will be settled on the basis of the result (the podium finish) as declared on the race-day by the Controlling Authority irrespective of any undecided protest.

(13)		American Football

	(a)	A sports bookmaker may provide spread betting markets upon the following American Football contingencies.

(i)	Points/Superiority - individual match	
(ii)	Points/Superiority - group of matches	
(iii)	Performance Index	

	(b)	The following special conditions apply to spread betting on
American Football: 

(i)	In the event of cancellation or postponement of a game for more than seven days, all open bets on markets with relate to home/away superiority shall be void;
(ii)	In the event of cancellation or postponement of a game for more than seven days, any market with regard to the total number of points in a group of matches will be pro-rated at the mid-market quote at the time of the cancellation or postponement;
(iii)	Bets on American Football matches include extra time;
(iv)	Should a season be curtailed for any reason, all teams are required to have played a minimum of 10 games for open bets to be valid; and
(v)	In such circumstances, bets will be settled on the basis of the mid-point of the quote at the time the season is curtailed.

	(c)	The following stop loss/stop win limits apply to spread betting on
American Football: 

			Stop loss/win
Full points	
(i)	Points/Superiority - individual match		 40	
(ii)	Points/Superiority - group of matches		100	

(15)		Thoroughbred Racing

	(a)	A sports bookmaker may provide spread betting markets upon the following Thoroughbred Racing contingencies.

(i)	Favourites	
(ii)	Starting Prices	
(iii)	Winning distances	
(iv)	Jockey index	
(v)	Saddle-cloth numbers	
(vi)	Match bets	
(vii)	Performance Index	

	(b)	The following special conditions apply to spread betting on Thoroughbred Racing: 

(i)	In betting on thoroughbred racing, sports bookmakers are permitted to bet on 1/10th of an outcome on the following markets:-
(a)	winning lengths in match betting.
(ii)	If two or more horses dead heat for any one place, an average will apply to all indices (except winning distances) concerning them;
(iii)	If two or more horses dead heat for any one place, bets relating to winning distances will have a value of zero;
(iv)	In match betting, a maximum make-up of 12 lengths shall apply in respect of any one race;
(v)	For the purpose of match betting, the distance will be distance between the horses as they past the post, irrespective of any subsequent disqualification or amendment;
(vi)	For margins below one length, the following will be applied:-
(a)	short head	-	0.1
(b)	head		-	0.2
(c)	neck		-	0.3
(d)	½ length	-	0.5
(e)	¾ length	-	0.75
(vii)	If an official distance is not declared, the distance between the two horses will be determined by the number of places between them multiplied by two lengths per position, to a maximum of 12 lengths;
(viii)	If any horse in a match bet does not come under starter’s orders or both horses fail to finish, any bets on that match, whether open or closed, will be void;
(ix)	In making markets on a jockey index, if, for any reason, the jockey on whom the bet was made does not ride his/her intended mount in a race, but the horse still runs, then for the purposes of the bet, that horse still counts as if it had been ridden by the intended jockey;
(x)	The intended mount will be taken to be the horse, published in Sydney Morning Herald on the day of the race, to be ridden by the jockey concerned;
(xi)	If the jockey rides any horse which, according to the Sydney Morning Herald published on the day of the race, he/she was not scheduled to ride, that ride does not count for the purpose of bets on that jockey;
(xii)	If the jockey has a non runner, then, for the purposes of the bet:
(a)	5 points will be attributed to him/her for the race concerned if the pre-post price, published in Sydney Morning Herald on the day of the race, is equal to or greater than 5 to 1;
(b)	10 points will be attributed to him/her for the race concerned if the pre-post price, published in Sydney Morning Herald on the day of the race, is less than 5 to 1 but greater than even money; or
(c)	15 points will be attributed to him/her for the race concerned if the pre-post price, published in Sydney Morning Herald on the day of the race, is less than even money.
(xiii)	In making markets on a favourites index, if there are one or more horses that are joint starting price favourites, then for the purpose of these markets, the horse with the lowest saddlecloth number will be deemed to be the favourite;
(xiv)	If the favourite is withdrawn and there is no time to establish a new market, then for the purposes of this market, the favourite will be awarded points based on its price at the time of withdrawal, as follows:-
(a)	5 points will be attributed if the pre-post price, published in Sydney Morning Herald on the day of the race, is equal to or greater than 5 to 1;
(b)	10 points will be attributed if the pre-post price, published in Sydney Morning Herald on the day of the race, is less than 5 to 1 but greater than even money; or
(c)	15 points will be attributed if the pre-post price, published in Sydney Morning Herald on the day of the race, is less than even money.
 (xv)	when betting on the aggregate starting prices of winners, the maximum starting price of a winner will be taken as 50 to 1; and
(xvi)	where a starting price is not a whole number, the price will be rounded up or down to the nearest full number (0.5 going up).

	(c)	The following stop loss/stop win limits apply to spread betting on
Thoroughbred racing: 

			Stop loss/win
Full points	
(i)	Favourites		50	
(ii)	Starting Prices		50	
(iii)	Winning distances		20	

(28)		Olympic Games events (Summer and Winter)

	(a)	A sports bookmaker may provide spread betting contingencies upon the following Olympic Games contingencies:-

(i)	Total gold medals won by an individual/team/country in a specific sport or over the Olympic Games Tournament;
(ii)	Total medals won by an individual/team/country in a specific sport or over the Olympic Games Tournament;
(iii)	Individual superiority (determined by winning times, margin of time, distance, or height);
(iv)	Team superiority (determined by winning times, margin of time, distance, or height);
(v)	Individual matches – total goals or total points;
(vi)	Individual matches – superiority.

	(b)	The following special conditions apply to betting on Olympic Games:-

(i)	No markets of any kind are to be framed in respect of the Olympic Games Torch relay or the lighting of the Olympic Flame;
(ii)	Where rules have already been determined in respect of spread betting markets on a specific sport or event, and that sport or event is included in an Olympic Games Tournament, then the rules already determined in respect of spread betting markets on the specific sport or event apply in addition to the above contingencies;
(iii)	Hockey matches are to have the same contingencies as Soccer markets in addition to the above contingencies.

	(c)	The following stop loss/stop win limits apply to spread betting on Olympic Games:-
								Stop loss/win
								    Full points
(i)	Total gold medals – individual/team/country		25
(ii)	Total medals – individual/team/country			50
(iii)	Individual superiority:
		Swimming 50/100m		5 seconds
		Swimming 200/400m		10 seconds
		Swimming 800/1500m		20 seconds
Athletics track 100/200m		1.0 seconds
Athletics track 400/800m		3.0 seconds
Athletics track 1500m		5.0 seconds
Athletics track 3000/5000m		20 seconds
Athletics track 10,000m		60 seconds
Athletics Marathon		5 minutes
Athletics field – High jump		0.2 metres
Athletics field – Long jump		1.0 metres
Athletics field – Javelin		10.0 metres
Cycling – track events		10.0 seconds
Cycling – road races		2 minutes
(iv)	Team superiority:
Swimming 50/100m		5 seconds
Swimming 200/400m		10 seconds
Swimming 800/1500m		20 seconds
Athletics track 100/200m		1.0 seconds
Athletics track 400/800m		3.0 seconds
Athletics track 1500m		5.0 seconds
Athletics track 300/5000m		20 seconds
Athletics track 10,000m		60 seconds
Athletics Marathon		5 minutes
Athletics field – High jump		0.2 metres
Athletics field – Long jump		1.0 metres
Athletics field – Javelin		10.0 metres
Cycling – track events		10.0 seconds
Cycling – road races		2 minutes
(v)	Individual matches - total points or total goals:			
Basketball		40 points
(vi)	Individual matches - superiority:			
Basketball		25 points

(30)		Political Elections

	(a)	A sports bookmaker may provide spread betting markets upon the following Political Elections contingencies.

(i)	The number of seats won or lost by a party or a group of parties	
(ii)	The percentage of the vote won by an individual, a party or a group of parties	
(iii)	The percentage swing, for or against, an individual, a party or a group of parties	
(iv)	The number of votes won by an individual, a party or a group of parties, in a by-election	

	(b)	The following special conditions apply to spread betting on Political Elections: 

(i) 	For the House of Representatives, bets will be settled on the basis of the official results declared by the Australian Electoral Commission returning officer in each Division (seat);
(ii) 	For the Senate, bets will be settled on the basis of  the official results declared by the Australian Electoral Officer for each State or Territory;
(iii) 	For betting on US presidential elections, bets will be settled on the basis of results declared by the US Federal Elections Commission; and
(iv) 	For betting on UK national elections, bets will be settled on the basis of results declared by the Returning Officer.

SECTION III – RULES FOR PARIMUTUEL BETTING

Definitions       In these rules:-

“parimutuel” means in relation to a bet that a fixed amount that will be won if the bet is successful is not determined before the bet is accepted but the bet is placed into a pool and winning bet ticket holders are paid an amount based upon the dividend paid out by the pool.

A.	Requirements for parimutuel betting

1.	Sports bookmakers shall not commence to accept parimutuel bets without obtaining the prior written approval of the ACT Gambling and Racing Commission.

SECTION IV – RULES FOR TOTE ODDS BETTING

Definitions       In these rules:-

“tote odds” means in relation to a bet that a fixed amount that will be won if the bet is successful is not determined before the bet is accepted but is an amount based upon the dividend paid out by a totalisator.

A.	Requirements for tote odds betting

1.	Sports bookmakers shall not commence to accept tote odds bets without obtaining the prior written approval of the ACT Gambling and Racing Commission.

2.	Tote odds bets may only be taken by a sports bookmaker in relation to the following sports bookmaking events:

(a)	North American thoroughbred race meetings conducted by the Racing Commission of the relevant US or Canadian racing jurisdiction;
(b)	North American harness race meetings conducted by the Racing Commission of the relevant US or Canadian racing jurisdiction;
(c)	North American greyhound race meetings conducted by the Racing Commission of the relevant US or Canadian racing jurisdiction; and
(d)	North American quarter horse race meetings conducted by the Racing Commission of the relevant US or Canadian racing jurisdiction.