About the betting industry
Betting is defined by the Gambling Act 2005 as the making or
accepting of a bet on the outcome of a race, competition or other
event or process; the likelihood of anything occurring or not
occurring; or whether anything is or is not true.
What types of betting are there?
General betting licence holders are able to
offer facilities for betting:
- at premises-based bookmakers (off-course)
- on tracks (on-course)
- by remote
means.
Pool betting incorporates:
- racecourse pool betting
- football and other sports pool betting
- many of the ‘fantasy football' type competitions.
Pool betting can be conducted
remotely
or non-remotely.
Remote pool betting is
conducted, for example, via an internet betting site run by one of
the football pools operators. Non-remote pool betting is conducted
in person (for example, the Tote, which accepts pool bets on tracks
and in high street betting shops).
Betting intermediaries bring two or more
parties together, but do not have liability for their bets. Betting
intermediaries can be
remote
or non-remote.
Remote betting
intermediaries, which includes betting exchanges, generally
operate through the internet.
An example of a non-remote betting intermediary is a tic-tac,
who normally works within a betting ring on a horse or greyhound
racing track.
Spread betting: We do not regulate spread
betting. This is the responsibility of the Financial Services Authority.
More information about the betting industry is
available in
Gambling Industry Statistics 2008/09.