Part of Gambling Bill – in a Public Bill Committee at 2:30 pm on 11 November 2004.
Mr Richard Page
Conservative, South West Hertfordshire
2:30,
11 November 2004
I understand exactly what the Minister is saying, but I am trying to make the point that, on a betting exchange, he could not lay a book as bookmakers can during their ordinary race course activities. That is a fundamental difference. I just wonder why the Minister is skirting around the issue. People cannot lay a book on a betting exchange, but one can if one has a bookmaker's licence and is operating, say, on a course, and as a result take a margin of profit. On a betting exchange, people can lay a 95 or 97 per cent. book, but not a 100 per cent. book. Therefore, if people do those things, they will eventually lose money.
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