In this Division –

approved form means a form approved by the Commission;

betting exchange means a facility that enables persons to –

(a) place or accept, through the betting exchange operator, wagers with other persons; or

(b) place with the betting exchange operator wagers that, on acceptance, are matched with opposing wagers placed with and accepted by the operator (so as to offset all risk to the operator);

betting exchange operator means the holder of a Tasmanian gaming licence with a betting exchange endorsement;

lead-in period , in relation to a betting exchange operator, means the 12-month period immediately following the date on which the operator's Tasmanian gaming licence is first endorsed with a betting exchange endorsement;

Tasmanian betting exchange operations , of a betting exchange operator, means the brokered wagering conducted under the operator's betting exchange endorsement.