The Northern Territory’s move to double the tax cap on wagering companies has blindsided the corporate bookmaking sector.
The move, announced in Tuesday’s Northern Territory budget by treasurer Bill Yan, will see projected revenue from the Territory’s bookmaker tax jump from $19.8 million in 2024/25 to $32.6 million in 2025/26.
It will involve a change to the Racing and Wagering Act 2024 and will impact all 26 wagering companies registered in the NT, including Sportsbet, Ladbrokes/Neds, PointsBet, betr and bet365.
However, it is expected to have a greater impact on smaller operators.
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