Glossary of terms used on this site
There are 48 entries in this glossary.All
- Applicant
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means a person who has lodged an application for a
Totalisator and Bookmaker licence, pursuant to this RFA, as contemplated in section 24 of the Act; and shall include all owners, members, partners and shareholders, where applicable. - Bet or Betting
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means to stake any money or thing of value or to stake on behalf of any person, or expressly or impliedly, to undertake, promise or agree to stake on behalf of any person, any money or thing of value on any event or contingency other than the contingency involved in a gambling game.
- Bingo Operation
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means the premises upon which the game of Bingo is played under a
Bingo Operator licence - Bingo Operator
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means the holder of a Bingo Operator licence as referred to in section 52 of the Act.
- Bookmaker's stake
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In relation to any bet laid by a licensed bookmaker, means the amount of money a bookmaker will forfeit, excluding the punter’s stake, if he loses such bet.
- Cash
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means coin and currency that is in circulation, and is customarily used and accepted as money in the issuing nation.
- Exacta bet
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means a bet on whether or not two specified horses in an exacta designated race, will finish first and second in that order.
- Totalisator
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means any instrument, machine, contrivance or apparatus for registering or indicating or registering and indicating the number or the number and amount of bets on any event or combination of events and which is operated in accordance with a system of betting in which the aggregate amount staked on such event or combination of events, after deduction from such aggregate amount of any amounts which may in terms of this Act be deducted therefrom, is divided amongst those persons who have made winning bets on any event or combination of events in proportion to the amounts staked by such persons in respect of such winning bets, and include any combination of such instrument, machine, contrivance or apparatus, whether inside the province or not and, any scheme, form or system of betting, whether mechanically operated or not, which is operated on similar principles.