South Australian Consolidated Regulations South Australian Consolidated Regulations3A—Meaning of fixed-odds betting
(1) Pursuant to
section 91(2)(ab) of the Act, the following forms of betting on races held by
licensed racing clubs, or races that are the subject of approved
contingencies, are declared to be fixed-odds betting for the purposes of the
Act:
(a) the
form of betting where a person makes a bet on a race result at
starting price odds;
(b) the
form of betting where a person makes a bet on a race result at
best price odds;
(c) the
form of betting where a person makes a bet on a race result on the basis that
the amount payable on a winning bet is the amount that would be payable if the
bet had been made as a totalisator bet with—
(i)
the holder of the major betting operations licence; or
(ii)
if the holder of the major betting operations licence is
not conducting off-course totalisator betting in respect of the race, the body
authorised to conduct off-course totalisator betting on the race in the
jurisdiction in which the race is held,
(ignoring any adjustment to the totalisator dividend that would have resulted
if the bet had actually been made as a totalisator bet).
(2) In this
regulation—
"best price odds" means the odds determined—
(a) in
the case of a race held by a licensed racing club—by the
betting price information service in attendance at the race or, in the absence
of that service, by the club; or
(b) in
the case of any other race—by the body holding the race,
to be the best price for the race result (the most favourable odds available
on the race result at any time);
"betting price information service" means a body holding an approval under
section 61(3) of the Act to communicate betting price information for
races held by licensed racing clubs;
"starting price odds" means the odds determined—
(a) in
the case of a race held by a licensed racing club—by the
betting price information service in attendance at the race or, in the absence
of that service, by the club; or
(b) in
the case of any other race—by the body holding the race,
to be the starting price for the race result (the odds available on the race
result immediately before the start of the race).