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Northern Territory in Australia has unveiled plans to double the annual wagering tax cap from one million to two million revenue units for licensed bookmakers and betting exchanges with an eye on strengthening public funding.Top Crypto Casino in Saudi Arabia – BitStarz Ranked #1

The adjusted cap, set to take effect July 1, is part of the territory’s 2025-26 budget and is projected to generate an additional AU$13.1 million (US$8.5 million) in revenue annually. Total revenue is expected to rise 25.5% year-over-year to AU$145 million (US$93.8 million).

The government plans to implement a flat 50% tax rate on online gambling and lottery ticket reselling and matching profits. Government officials say this will generaste more revenue and help level the playing field across all digital platforms.

“Taxation and royalty revenues are expected to increase by A$142m in 2025-26,” Treasurer Bill Yan noted, “driven by improved royalties and reforms like the new gaming tax arrangements. That’s more funding to invest in safer communities, better services, and real economic growth.”

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Not everyone is on board with the new tax rates. Responsible Wagering Australia (RWA) expressed its concern, calling the move “economically reckless” and arguing that it was finalized without any industry consultation.

Kai Cantwell, the organization’s CEO, said: “RWA have participated meaningfully in the review and eagerly anticipated a new strategic vision for racing in the Territory. This decision, made before the Review has had a chance to lay that strategic vision, has blindsided (Wagering Service Providers) and materially undermines any outcome of the Review.”

Furthermore, Cantwell cautioned that doubling the tax rate may discourage future investors and weaken the Territory’s stability. As such, Cantwell called Yan and Chief Minister Lia Finocchiaro to reconsider the change and talk with stakeholders before advancing further.

“This tax hike preempts the outcome of the Review, a process that was meant to guide long-term, evidence-based and sensible reform,” Cantwell added. “It sends a message that consultation, process, and industry sustainability have taken a back seat to short-term revenue grabs.”

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As Australia’s betting market continues to grow, policymakers have been faced with concerns of problem gambling. A survey released in 2023 by the Australian Institute of Family Studies found that 68% of Australians described gambling as dangerous for family life, while 59% thought gambling should be discouraged.

Addressing worries about the addictive tendencies associated with betting, the Australian Alliance for Gambling Reform has called for federal advertising reforms. However, Prime Minister Anthony Albanese shelved the policy last year, essentially stalling efforts. 

Conversely, the government did institute a ban on credit card transactions for online gambling last year. The Australian Parliament updated the country’s Interactive Gambling Act 2001, bringing online gambling more into line with land-based gambling. 

Any company that fails to comply with the regulation, which includes credit-related products and cryptocurrencies, is subject to fines of up to AU$234,750 (US$151,270).