(1) It shall not be lawful for a licensed bookmaker to make, take, or enter into a bet of a lesser amount than €0.06.
(2) Every licensed bookmaker who makes, takes, or enters into a bet in contravention of this section shall be guilty of an offence under this section and shall be liable on summary conviction thereof to a fine not exceeding €25.
(3) 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 will be entitled to receive, retain, or take credit for if the event the subject of the bet is determined in his favour.