Australian Capital Territory
Race and Sports Bookmaking (Rules for Sports Bookmaking) Determination 2005 (No 1)
Disallowable instrument DI2005—10
made under the
Race and Sports Bookmaking Act 2001, subsection 23(1) (Rules for sports bookmaking).

EXPLANATORY STATEMENT

The Race and Sports Bookmaking Act 2001 (the Act) governs the activities of bookmakers in the Australian Capital Territory.

Part 3 of the Act provides for the conduct and control of sports bookmaking.  In particular, the legislation empowers the Commission to determine rules for sports bookmaking.

Section 23(1) of the Act provides that the Commission may determine rules for sports bookmaking for the purpose of the Act.

This instrument revokes determination DI2003-330 and replaces it with this determination.  In addition, this instrument amends the definition of a “fixed odds” to mean in relation to a bet:

(a)	on a sports bookmaking event other than an Australian racing event, that the amount to be won if the bet is successful, is determined and fixed at the time when the bet is accepted, and
(b)	on an Australian racing event, that the amount to be won if the bet is successful, is based on either:
(i)	an amount determined and fixed at the time when the bet is accepted, or
(ii)	the Starting Price declared by:
(1)	the Australian Pricing Network in relation to thoroughbred racing, or
(2)	the relevant controlling body in relation to harness or greyhound racing, or
(iii)	the Top Fluctuation price declared by:
(1)	the Australian Pricing Network in relation to thoroughbred racing, or
(2)	the relevant controlling body in relation to harness or greyhound racing.

Furthermore this instrument introduces the following additional definition :

“Australian racing event” means a sports bookmaking event that is a thoroughbred racing, harness racing or greyhound racing event conducted with the sanction of an Australian racing controlling body.”

These amendments have been made in order to clarify the fixed odds betting contingencies that are permitted to be offered by sports bookmakers licensed in the Territory.