New South Wales Consolidated Acts

TOTALIZATOR ACT 1997 - SECT 81

81 Credit betting prohibited

(1) A person must not accept a bet on a totalizator unless the bet is paid for in any one of the following ways at or before the time the bet is made--

(a) in cash,

(b) by debit against an amount held in an account for the person who makes the bet by the person who accepts the bet,

(c) by debit against a credit betting facility made available by the person who accepts the bet, being a facility under which the obligations of the debtor are secured or guaranteed in accordance with arrangements approved by the Minister or prescribed by the regulations.

: Maximum penalty--20 penalty units.

(2) For the purposes of subsection (1), electronic funds transfer of an amount to an account operated by the person is taken to be payment of that amount in cash to the person.