New South Wales Consolidated Acts

BETTING AND RACING ACT 1998 - SECT 33JB

33JB Deposit limits for betting accounts

(1) A licensed betting service provider that provides betting accounts must establish a scheme in accordance with this section that provides for the following--

(a) before the account is opened, the provider must require the potential betting account holder to indicate the limit on the amount of money that the holder may deposit into the betting account in a specified period and the period for which the particular limit is to apply (a
"deposit limit" ) or, if the potential holder does not wish to apply a limit, to expressly refuse to apply a deposit limit,

(b) a betting account opened with the provider must be subject to the limit so specified by the holder, unless the holder has expressly refused to apply a deposit limit,

(c) the provider must not accept an amount from the holder that exceeds the deposit limit,

(d) the holder may decrease the deposit limit at any time, with immediate effect,

(e) the holder may increase the deposit limit at any time, but an increase does not take effect until 7 days after the increase was requested.

(2) The licensed betting service provider must ensure that the process for setting or changing a deposit limit is explained in plain language to a betting account holder or potential betting account holder and is prominently displayed--

(a) on the licensed betting service provider's website, and

(b) if the holder is able to place a bet using an internet application, website or datacasting service, at the place at which the holder accesses the holder's account or via a single link from that place.

(3) At the time a person opens a betting account and at least once every 12 months after a betting account is opened, the licensed betting service provider must provide information about the scheme and how it works to the person.

(4) At least once every 12 months after a betting account is opened, the licensed betting service provider must--

(a) if the holder has set a deposit limit under the scheme--ask the holder if the holder wishes to change the deposit limit, and

(b) if the holder has refused to apply a deposit limit to the betting account--ask the holder if the holder wishes to set a deposit limit.

(5) However, the licensed betting service provider must not provide the information under subsection (3) to a holder, or ask a holder about the matters specified in subsection (4), if the holder has not placed a bet using the account within the previous 12 months.

(6) The regulations may provide for the manner in which information is to be provided, or a request or refusal made, under this section.

: Maximum penalty--

(a) for an individual--100 penalty units, or

(b) for a corporation--1000 penalty units.