Wagering

With a new Communications Minister in place and an electoral mandate in hand, the climate seems right for wagering advertising reform. But in what could prove an unexpected boost for the wagering and racing industries, there is no indication that PM Anthony Albanese has an appetite for change.

A lack of consultation from the Northern Territory government over a decision to double the tax cap on wagering companies has infuriated a key industry lobby group.

Sportsbet’s parent company Flutter has cited racing industry challenges as a key driver in an 18 per cent drop in revenue for the Australian arm of the global wagering giant.

Plenty of initiatives are proposed to boost the sport of horse racing. None of them, not one, will secure racing’s financial future unless we address the only thing that truly sustains the industry: wagering turnover.

Entain’s New Zealand division continues to keep pace with the global revenue growth of the publicly listed giant, but headwinds persist in a more mature and regulated Australian market.

Having been previously rebuffed in its pursuit of PointsBet, betr had doubled down in its efforts to create a fourth major player in the Australian wagering landscape.

The likelihood of a minority Labor government after the May 3 federal election increases the prospects of significant changes to wagering advertising rules, writes Bren O’Brien.