Clause 7 - General betting duty: betting exchanges
Finance Bill
11:00 am
Mr George Howarth (Knowsley North and Sefton East, Labour)
I am grateful to the hon. Gentleman for his warm remarks about me. He makes a distinction between betting exchanges linking punter to punter and regular bookmakers. Is he aware that some of the rails bookies are linked by computer to betting exchanges and are using that facility to hedge their bets? It is quite possible that punters, because they do not know with whom they are dealing, are betting with bookmakers who are not regulated for that kind of trade.