Financial Services Board Act, 1990
R 385
National Gambling Act, 2004 (Act No. 7 of 2004)Chapter 2 : National Gambling PolicyPart A : Gambling activities4. Bets and wagers |
| 1) | A person places or accepts a bet or wager when that person- |
| a) | being a player, stakes money or anything of value on a fixed-odds bet, or an open bet, with a bookmaker on any contingency; or |
| b) | being a bookmaker- |
| i) | accepts a stake of money or anything of value on a fixed-odds bet, or an open bet, from a player on any contingency; or |
| ii) | stakes money or anything of value on a fixed-odds bet, or an open bet, with another bookmaker on any contingency; |
| c) | stakes or accepts a stake of money or anything of value with one or more other persons on any contingency; or |
| d) | expressly or implicitly undertakes, promises or agrees to do anything contemplated in paragraph (a), (b) or (c). |
| 2) | A person places or accepts a totalisator bet when that person stakes money or anything of value on the outcome of an event or combination of events by means of- |
| a) | a system in which the total amount staked, after deductions provided for by law or by agreement, is divided among the persons who made winning bets in proportion to the amount staked by each of them in respect of a winning bet; or |
| b) | any scheme, form or system of betting, whether mechanically operated or not, that is operated on similar principles. |
| 3) | A person may participate in the activities contemplated in subsections (1) and (2) by way of electronic communication. |
