iGaming Industry
Bookies bid for better deal as online gambling taxes loom
Online gambling companies have ramped up their political lobbying efforts in an attempt to stop Victoria from adopting a 15 per cent tax on digital betting that is being rolled out in other states.
Australia’s bookmakers responded angrily last week when Queensland announced it would become the third gaming jurisdiction to roll out a so-called “point-of-consumption” tax.
A 15 per cent point-of-consumption tax – under which the state where a digital bet is placed receives revenue on gambler losses – has already come into force in South Australia, while Western Australia is preparing to follow with its own tax at the same rate from the beginning of next year.
Industry insiders said Australia’s bookmakers were dramatically stepping up efforts to sway government leaders in Victoria, home to the strongest horse-racing jurisdiction in the country, to consider taxing them at a lower rate than 15 per cent.
“Not many bookmakers would even be making a 15 per cent margin on their wagering,” one said.
“The downstream consequences for the wagering industry and consumers is very real, and we think the Victorian government is going to pay more attention than the other states have.”
Corporate bookmakers, who are licensed in the Northern Territory, are making the case that they provide a significant contribution to the national economy through wages, other taxes, the product fees they pay to sporting codes, and lucrative race-field fees paid to the state racing bodies for the use of racing information.
Revenue from race-field fees in Victoria, which are paid by the corporate bookmakers as well as interstate TABs, has been growing substantially year on year. Racing Victoria’s latest annual report shows revenue from race-field fees in the past financial year was $157.5 million.
Supporters of the point-of-consumption tax say it will “level the playing field” for gambling operators, given totalisator providers Tabcorp and Tatts have to pay vastly higher taxes than online corporate bookmakers.
The Stephen Conroy-led industry group Responsible Wagering Australia (RWA), representing Sportsbet, CrownBet, Bet365, Betfair, Ladbrokes and Unibet, called the Queensland decision a “naked tax grab” with no consultation.
The group said it was working with “all jurisdictions” to ensure the new taxes took into account the industry’s “significant contribution to the economy”.
“In the last financial year in Victoria, RWA’s members employed more than 900 people, paid more than $127 million in wages, contributed $78 million to the racing industry and paid more than $11 million in sponsorships to support Victorian events and tourism,” a spokeswoman said.
The online bookmakers’ lobbying in Victoria is focusing on the state Treasurer Tim Pallas. The Andrews government said it was engaging in consultation.
“Like all states, we are looking into this national issue and will consider feedback received as part of an extensive consultation process,” a government spokesman said.
It is also understood that point-of-consumption taxes for online wagering were discussed by state and territory treasurers at the first Board of Treasurers meeting on November 21.
A report from Credit Suisse earlier this year noted that a point-of-consumption tax introduced in England did not reduce wagering revenue when it was implemented in 2014, but the tax slashed industry profit.…
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Source: EEGaming.
eCOGRA, a leading international authority in Testing, Inspection and Certification services for the iGaming industry, has secured new regulatory approvals across three key jurisdictions: Arizona, Indiana and Panama. With these developments, eCOGRA strengthens its position in the U.S. and Latin American markets, offering excellence in compliance through their Quality, Speed, and Service promise.
This strategic expansion allows eCOGRA to conduct independent compliance audits and certification services in each region, addressing the growing demand for rigorous regulatory oversight in the fast-evolving global iGaming industry.
Securing approval in Arizona, where eCOGRA has now been licensed as an Event Wagering Ancillary Supplier, enables the International Testing Laboratory (ITL) to audit event wagering licensees in line with Arizona’s expanding regulatory landscape. Indiana, which introduced online sports betting in September 2019, has authorised eCOGRA to perform regulatory compliance audits, providing licensed operators with crucial assurance in meeting the state’s high standards.
In Panama, the Board of Gaming Control officially recognised eCOGRA as an Authorised Entity for Compliance Certification, specifically for slot machines and gaming software. This endorsement reinforces eCOGRA’s role as a trusted partner for operators seeking to meet stringent regulatory requirements in Latin America’s emerging iGaming sector.
“Our recent approvals in Indiana, Arizona, and Panama underline our dedication to continually expand our offering, to support our growing portfolio of clients with their global growth plans. We are committed to ensuring that we bring the same quality, speed and service that marks us out to both our clients and regulators in these dynamic markets,” said Will Shuckburgh, Group CEO of eCOGRA.
Bradley Khoury, Chief Technology Officer at eCOGRA, said: “Securing licensure as an Event Wagering Ancillary Supplier in Arizona and an Authorised Entity in Panama underscores our dedication to supporting responsible and sustainable iGaming operations. We are committed to driving trust and accountability within the industry by providing compliance solutions that uphold the highest standards.”
BetConstruct, a global leader in the iGaming industry, is going to showcase its cutting-edge solutions at the highly anticipated Global Gaming Expo (G2E), taking place from October 7-10.
As the premier event for the global gaming industry, G2E serves as a hub for innovation, driving growth by bringing together industry professionals from around the world to foster business opportunities.
Taking place at The Venetian Expo in Las Vegas, this all-in-one event features both an education program from October 7-10 and an expansive expo hall running from October 8-10.
BetConstruct’s stand is 5230, where the team will showcase an exciting range of products, including the newly launched the Last Battle, a novel loyalty system that is the byproduct of BetConstruct’s commitment to innovation. The company will also demonstrate its comprehensive Sportsbook and Casino Suite, along with DECA, its next-level decentralised casino platform, and Umbrella, an AI-powered risk management solution. These offerings are designed to meet the needs of a diverse range of operators, ensuring seamless and engaging experiences for players across the regulated market.
Amusnet has announced its participation in the 23rd edition of G2E Las Vegas (Global Gaming Expo) at The Venetian Expo from October 7-10. As one of the largest expos globally, G2E provides a platform for the company to showcase products across its Online Casino, Live Casino, and Land-based verticals, positioning Amusnet as a prominent all-casino provider in the competitive iGaming industry.
“We are excited to attend G2E Las Vegas 2024 to present our latest online casino portfolio and Type S slot cabinets: our first-ever product series for Land-based casinos, designed to offer a competitive edge by combining Amusnet’s top-notch game portfolio with an immersive player experience. Our focus is on delivering solutions that maximize performance and cater to the evolving needs for both online and land-based casinos,” said Borislav Marinov, Head of Business Development, Land-based, at Amusnet.
Alongside its technical excellence, the premium Type S series showcases the company’s award-winning titles, including 20 Golden Coins, Extra Crown, Fruits & Gold, and Cocktail Rush. It also features Amusnet’s popular four-level bonus game, Jackpot Cards, along with other exciting features like Free Spins, Buy Bonus, Pick Me Bonus, and Symbol Upgrade.
Amusnet will host an activation featuring its premium slot cabinets at the upcoming expo, offering attendees the opportunity to experience the thrill of Type S in real time and win exciting gifts.
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