{"id":8830,"date":"2019-01-03T12:37:48","date_gmt":"2019-01-03T12:37:48","guid":{"rendered":"https:\/\/www.legitgambling.com\/news\/?p=8830"},"modified":"2019-01-03T12:37:48","modified_gmt":"2019-01-03T12:37:48","slug":"australian-online-bookmakers-dealt-betting-tax-blow","status":"publish","type":"post","link":"https:\/\/www.legitgambling.com\/news\/australian-online-bookmakers-dealt-betting-tax-blow\/","title":{"rendered":"Australian Online Bookmakers Dealt Betting Tax Blow"},"content":{"rendered":"<p><img decoding=\"async\" src=\"https:\/\/www.legitgambling.com\/news\/wp-content\/uploads\/2014\/09\/australia.jpg\" alt=\"\" width=\"300\" class=\"alignright size-full wp-image-98\" \/><a href=\"https:\/\/www.legitgambling.com\/au\/legal-australian-online-betting-sites\">Online bookmakers in Australia<\/a> have been slapped with a wave of new betting taxes that have come into force from January 1.<\/p>\n<p>The \u201c<em>point-of-consumption<\/em>\u201d taxes came into effect amid concerns that internationally-owned gambling giants operating in Australia are not contributing their fair share. Among the online bookmakers catering to Australian punters are <strong>Sportsbet, Bet365, Ladbrokes and BetEasy<\/strong>. <\/p>\n<p>Campaigners argue there should be a level playing field, taking into account the fact that majority of the nation\u2019s bookmakers are licensed in the Northern Territory which imposes lower tax.  This puts Australian-licensed operators such as Tabcorp at a disadvantage in terms of the amount of taxes being paid.<\/p>\n<p>The taxes are already in force in Queensland and South Australia and most recently came into effect in <strong>New South Wales, Western Australia, the Australian Capital Territory (ACT) as well as Victoria<\/strong>. The taxes are based on the location of the bets, instead of where the bookmaker obtained its license.<\/p>\n<p>Welcoming the move, a spokesman for state-licensed Tabcorp said the new taxes will pave the way for a sustainable and well-regulated wagering industry. <strong>Each state will impose its own rate, with South Australia, Queensland, ACT and Western Australia taxing at 15%, while NSW and Victoria will collect 10% and 8% respectively<\/strong>.<\/p>\n<h2>New Taxes Will Speed Up Industry Consolidation<\/h2>\n<p>While the new taxes gained support from lobbyists and campaigners all over the country, gaming industry insiders are predicting the new taxes will lead to more mergers and acquisitions in the highly-competitive online betting sector. They believe that only the top online gambling operators will be able to survive these new tax rates.<\/p>\n<p>Consolidation was the trend in 2018 and will likely continue in the years ahead. The previous year saw <a href=\"https:\/\/www.ft.com\/content\/9982ce76-210c-11e8-a895-1ba1f72c2c11\">UK bookmaker William Hill selling its Australian assets to BetEasy<\/a> as a result of incoming levies and new gambling regulations that had the potential to impact the firm\u2019s profits. In November 2018, online wagering newcomer <strong>Neds.com.au<\/strong> was acquired by global gambling giant GVC Holdings under a $95 million deal. <\/p>\n<p>Online betting contributed to the 15% annual increase in sports betting revenue in Australia, making it the country\u2019s fastest-growing gambling sector. <\/p>\n<p>While some of the world\u2019s largest gambling powerhouses such as <strong>Ladbrokes, <a href=\"https:\/\/www.legitgambling.com\/reviews\/bet365\">Bet365<\/a>, The Stars Group and Paddy Power Betfair<\/strong> are continuing to operate in Australia, they have warned that recent government decisions in relation to taxes will significantly impact their operations and will have far-reaching consequences.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Online bookmakers in Australia have been slapped with a wave of new betting taxes that have come into force from January 1. The \u201cpoint-of-consumption\u201d taxes came into effect amid concerns that internationally-owned gambling giants operating in Australia are not contributing their fair share. Among the online bookmakers catering to Australian punters are Sportsbet, Bet365, Ladbrokes [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,8],"tags":[],"class_list":["post-8830","post","type-post","status-publish","format-standard","hentry","category-legislation","category-sports"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Australian Online Bookmakers Dealt Betting Tax Blow<\/title>\n<meta name=\"description\" content=\"Online bookmakers in Australia have been slapped with a wave of new betting taxes that have come into force from January 1.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.legitgambling.com\/news\/australian-online-bookmakers-dealt-betting-tax-blow\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Australian Online Bookmakers Dealt Betting Tax Blow\" \/>\n<meta property=\"og:description\" content=\"Online bookmakers in Australia have been slapped with a wave of new betting taxes that have come into force from January 1.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.legitgambling.com\/news\/australian-online-bookmakers-dealt-betting-tax-blow\/\" \/>\n<meta property=\"article:published_time\" content=\"2019-01-03T12:37:48+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.legitgambling.com\/news\/wp-content\/uploads\/2014\/09\/australia.jpg\" \/>\n<meta name=\"author\" content=\"Natalie Whitehead\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Natalie Whitehead\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/australian-online-bookmakers-dealt-betting-tax-blow\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/australian-online-bookmakers-dealt-betting-tax-blow\\\/\"},\"author\":{\"name\":\"Natalie Whitehead\",\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/#\\\/schema\\\/person\\\/6bbc00139fa88f661e2048d7592dae73\"},\"headline\":\"Australian Online Bookmakers Dealt Betting Tax 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