There are ongoing rumours about a possible increase in taxes for sports betting operators that operate in the Northern Territory in Australia. Due to these concerns, sports betting operators expressed their concerns about the possible raise of taxes on sports betting.
These sports betting operators expressed their concerns because the increase in taxes may have a significant (negative) impact for the sports betting industry in the Northern Territory state in Australia. These plans are related to an independent review of the Racing and Betting Acts from 2018. This new proposal proposes to increase the taxes that are paid on sports betting profits by 20%. At least three sports betting operators expressed their concerns and declared that they might cease trading in the NT when the costs of taxes would increase.
Another operator claimed that the increase might cause companies to move their operations to a different state. Which might cause in loss of jobs within the online gambling industry. The operator claims: “The recommendations to significantly increase existing fees and taxes and impose a series of punishing new levies would threaten the ongoing viability of many NT licensed operators.”
Concerns about online gambling in Australia
Gambling is immensely popular in Australia. About 80% of the Australian adults participate in any form of gambling. Which is the highest percentage in the world. Some people argue that this poses a serious threat to the public health due to possible gambling problems. Only a small % of gamblers experience gambling problems. However, if you translate this to the whole population, there are a lot of people with gambling problems.
Online casino´s are booming in Australia. In 2021 the gambling industry spent more than 200 million Australian Dollars on advertising. In 2021 948 gambling ads aired daily.