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Prohibition of bets under five new pence. 16.(1) A licensed bookmaker who makes, takes, or enters into a bet of a lesser amount than [5p] shall be guilty of an offence. (2) For the purposes of this section the amount of a bet shall be taken to be the sum of money which by the terms of the bet the licensed bookmaker would be entitled to receive, retain, or take credit for if the event which is the subject of the bet is determined in his favour.
© 1957 Crown Copyright
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