3.4 Bookmakers and betting exchanges Bookmakers’ profits are not relevant to these traders. Betting exchanges calculate their duty liability on the charges they make, such as their commission, to their customers.
3.4.1 Definition of a betting exchange A betting exchange is defined in law as a business that:
provides facilities to allow other parties to bet with each other does not provide premises that can be used by anyone making, taking or laying bets The betting exchange itself does not make, take or lay bets.
GBD is charged on any amount that a betting exchange charges to any UK person who uses its facilities to make bets. For example, GBD would apply to:
commission charges administration fees deductions from winnings Betting exchanges are liable to GBD at 15% on the charges they make, (even if subsequently unpaid) in each accounting period in relation to the bets that are determined in that period.
3.4 Bookmakers and betting exchangesBookmakers’ profits are not relevant to these traders. Betting exchanges calculate their duty liability on the charges they make, such as their commission, to their customers.3.4.1 Definition of a betting exchang
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