(1) There shall be charged, levied and paid on and by every bookmaker who makes, lays or otherwise enters into any bets an excise duty (in this Chapter referred to as "betting duty") at the rate of 2 per cent on the amount of every bet entered into by him or her.
(1A) For the avoidance of doubt, betting duty imposed by subsection (1) is chargeable on all bets placed by a person with a bookmaker at the bookmaker's registered premises, irrespective of the means by which a bet is placed.
(2) For the purpose of this section the amount of a bet shall be -
(a) the sum of money or the open market value of other consideration which by the terms of the bet the bookmaker will be entitled to receive, retain, or take credit for if the event the subject of the bet is determined in his or her favour, or
(b) where the amount cannot be determined in accordance with paragraph (a) at the time the bet is placed, the amount of the unit stake.
(2A) Notwithstanding subsection (2), where a bet is placed by a
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