Singapore legislation
Regulation 4
Regulation 4
Taxable gaming revenue from totalisator betting operations
Subregulation 1
For the purposes of section 6(1) of the Act, the taxable gaming revenue of an authorised betting operator for a period from its taxable gambling undertaking mentioned in regulation 3 involving totalisator bets, is as follows:
for totalisator bets made in connection with any horse race — the total amount of gross betting profit worked out under paragraphs (2), (3) and (4) in respect of the totalisator bets made with the authorised betting operator in connection with every horse race taking place within that period;
for other totalisator bets — the amount of gross revenue worked out under paragraph (5) in respect of all the totalisator bets made with the authorised betting operator during that period.
Subregulation 2
Subject to paragraph (3), the gross betting profit of an authorised betting operator from totalisator bets made in connection with any particular horse race, is the excess of —
the aggregate value in money received from each totalisator bet made with the authorised betting operator in connection with the particular horse race; over(b)the value in money of the winnings paid by or on behalf of the authorised betting operator on the totalisator promoted, organised, administered or operated by the authorised betting operator in connection with that particular horse race.
Subregulation 3
However, where a commingling arrangement applies to totalisator bets mentioned in paragraph (1)(a), the gross betting profit of an authorised betting operator from those totalisator bets made in connection with any particular horse race is the amount that the authorised betting operator is entitled to take out as described in paragraph (4)(c).
Subregulation 4
For the purposes of paragraph (3), a commingling arrangement applies to any totalisator bet mentioned in paragraph (1)(a), where —
the authorised betting operator and a foreign betting operator both accept bets based on the same odds in connection with the same horse race;
the totalisator bets are made on the totalisator promoted, organised, administered or operated by the authorised betting operator or the foreign betting operator in connection with that horse race;
the authorised betting operator is entitled to take out an agreed percentage of the aggregate amount of those totalisator bets received by the authorised betting operator in connection with the horse race, and the foreign betting operator is entitled to take out the same percentage of the aggregate amount of those totalisator bets received by the foreign betting operator in connection with that horse race; and
the remainder of the aggregate value of money received from totalisator bets made on the totalisator is paid out as winnings in connection with that horse race.
Subregulation 5
The gross revenue of an authorised betting operator for a period from totalisator bets mentioned in paragraph (1)(b) is the gross amount of all money wagered or staked in every such bet made in that period with the authorised betting operator.