NT Government doubles tax cap on wagering companies

The corporate bookmaking industry has been left stunned by the Northern Territory Government’s decision to double the tax cap on wagering companies, a move that is expected to have significant repercussions across the sector.

Unveiled during Tuesday’s NT budget by treasurer Bill Yan, the change will push projected revenue from the Territory’s bookmaker tax from $19.8 million in 2024/25 to an estimated $32.6 million in 2025/26.

The increase will require an amendment to the Racing and Wagering Act 2024 and will apply to all 26 wagering companies licensed in the NT. Among the operators affected are major players like Sportsbet, Ladbrokes/Neds, PointsBet, betr and bet365.

While large firms may absorb the impact, the policy shift is expected to put considerable strain on smaller corporate bookmakers operating under the Northern Territory licence model, which has long been regarded as a regulatory haven for online betting companies in Australia.