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The gambling tax regulation varies from one country to the other. Australia ranks highest in terms of gambling. Over 80% of Australians are engaging in gambling of some type or the other. It is inclusive of the 4% adult population that indulges in playing poker once in a week.

The online bookmakers of Australia have been enforced with new betting taxes which became effective on the 1st of January. Point-of-consumption became effective amidst the corners that internationally-owned gambling companies that are operating in Australia are not giving their fair share of the money. Some of the bookmakers that provide the punters of Australia with the sports betting enjoyment are,

  • Ladbrokes

  • Sportsbet

  • BetEasy

  • Bet365

Campaigners have to say that there has to be a leveled playing field considering the fact that most of the bookmakers of the nation get its license in the Northern Territory that imposes a low amount of tax. This has put Tabcorp, the Australian licensed operators at a disadvantage in regards to the amount of tax that they are paying.

The taxes have already become effective in South Australia and Queensland. These most recently came into effect in Western Australia, Australian Capital Territory, Victoria, and New South Wales. Here, the taxes depend on the best location rather than where the bookmaker has secured the license.

The new move is going to pave the way for a well-regulated and sustainable wagering industry. Every state in Australia is going to impose its own rate. Thus, Queensland, ACT, Western Australia, and South Australia impose a 15% tax while Victoria and NSW will collect 8% and 10% respectively.

Who are Paying the Gambling Taxes in Australia?

The primary reason behind this lack of taxation on the wins of gambling is that the gambling operators are being taxed instead. The taxation as mentioned earlier can vary from one region to the other. You will find this guide for sports betting in Australia on the turnover amount on the net profit or loss of the player. This is the reason the gambling operators need to secure a license in order to offer their service with some amount of fees paid out during the development of the operation. The requirement of the operator to pay tax varies from where they are and the type of gambling offered.

New Taxes Speeding up Industry Consolidation

Though new taxes have secured support from the campaigners and the lobbyists across the country, the insiders of the gambling industry are predicting that new taxes are going to result in more acquisitions and mergers in the highly-competitive sports betting section. According to them, the top online gambling operators can survive new taxes.

Consolidation has been the trend in 2018 and is going to continue in time to come. In 217, William Hill, the UK Bookmaker sold its Australian assets to BetEasy due to the incoming levies and the brand new gambling regulations which had the prospect of having an impact on the profit of the firm. In 2018, November, Neds.com.au, the online wagering company that was new to the world of gambling had been taken over by GVC Holding, the gambling giant under a deal of $95 million. Betting over the internet has contributed to 15% of the actual increase in sports betting revenue of Australia which makes it the fastest-growing gambling sector in Australia.

Even though some of the largest gambling houses of the world like The Stars Group, Bet365, Paddy Power Betfair, and Bet365 are still operating in Australia, they have been warned that the current decision of the government related to taxes is going to signify the impact of the operations and is going to have far-reaching outcomes.

Responsible Wagering Australia which is headed by Stephen Conroy, the former Labor Senator, and the online bookmakers had been quite disappointed with the decisions taken by the various state governments for introducing new taxes and argued that they have already paid a good amount of money in the form of income tax and GST. However, the bookmakers appreciated the consultation efforts in NSW and Victoria. However, taxes are going to have significant negative outcomes.

Following several years of subdued advertisements in comparison to the rivals of the online bookmakers, Tabacorp has ramped up the effort in the marketing sphere significantly since the finals of football 2018. Adam Rytenskild, the head of wagering in ASX-listed Company has said that the move in certain parts was because of the point of consumption of taxes which would crimp the marketing offerings and budget of the rivals. According to him, the landscape will change and with the introduction of the point-of-consumption taxes which is going to sort itself out in time to come. They are planning to be competitive and they plan to offer great offers to the gamblers who are gambling on the site.

Do Players Need to Pay for Gambling in Australia?

In Australia, the gambling operators are the ones who are charged with the tax and not the punters. The amount of money that is paid by the operators is going to depend on the type of game that they offer. There is no tax for the online players, too, even though there are only a few operators operating in the industry. The only charges or fees which a player might encounter while playing in the online casino is the fees to deposit or withdraw money from the online casino site or when they are converting AUD to their preferred currency. For instance, Visa and MasterCard are always going to charge a certain fee when it comes to foreign transactions. However, Skrill is not going to charge any such money. Gambling tax in Australia is not applicable to the winnings in case they are made through a land-based or online casino. Hence, the best bet for the punters is to play in the Australian dollar if they want to avoid paying taxes.

However, the casino operators are obliged to pay out a fee for their license other than the taxes on gambling.

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