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.
Alejandro Navarro
Betski Secures $345,000 in Pre-Seed Funding for First-ever Tokenized Casino Ownership Platform
Betski is set to launch its online casino ownership platform in Q1 of 2025, enabling users to earn casino profits through digital tokens. The system will allow anyone to receive a share of casino earnings without managing casino operations, marking a new chapter in the multi-billion-dollar iGaming industry. Supported by a $345,000 pre-seed funding round, the platform aims to democratize access to casino earnings and reshape the multi-billion-dollar gaming industry.
Opening Casino Ownership to Everyone
The platform’s tokenization system reshapes traditional casino business rules through an automatic profit-sharing program. Token holders receive a percentage of every bet placed on the platform.
This system eliminates steep entry costs, such as operational expenses, licensing fees, and administrative management. Users can start earning returns without previous casino experience or large capital investments.
“A small group have exclusively enjoyed casino industry profits until now. Our platform opens these earnings to everyone through our tokenized profit-sharing system, turning users into online casino owners,” said Alejandro Navarro, founder and CEO of Betski.
Direct Profit-Sharing Through Tokens
Through a verified digital system, the ownership program distributes Gross Gaming Revenue (GGR) among token holders. Investors have recognized this potential, contributing $345,000 in pre-seed funding that combines gaming entertainment with digital asset ownership. The platform maintains strict security protocols and automated distribution systems for reliable profit sharing.
“The platform distributes real money to token holders from every bet placed by players. This creates a steady income stream for online casino owners – something the traditional casino structure has never offered,” said Navarro.
Global Growth of Online Casino Ownership
The platform has attracted 2400 active Discord members and over 20,000 followers on X (formerly Twitter). These early adopters are expected to participate in test runs of the profit-sharing system once it goes live. Over the next 24 months, the platform will roll out first in Latin America, followed by expansion into European and select Asian markets.
Betski offers casino games, live casino experiences, eSports betting, global lotteries, fantasy sports, and traditional sportsbooks. This variety creates multiple revenue streams for online casino owners. Players can access all gaming options through a single interface, which streamlines the betting experience and maximizes potential returns for token holders.
The team has partnered with major payment processors and marketing agencies to support the platform’s global expansion. These collaborations will facilitate smooth transactions and user acquisition across different regions. The platform meets all regulatory requirements in its target markets, certifying long-term stability for token holders.
New Opportunities for Investment
Following the successful pre-seed round, Betski is now opening its seed funding round to welcome additional participants into its casino ownership platform. This investment opportunity enables individuals and entities to join the platform’s growth journey ahead of its official launch in Q1 2025.
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.
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