Australia’s Biggest Online Gambling Firms Paid Just $107M in Tax Despite $5.4B Revenue
Synopsis
Australia’s biggest online gambling companies generated $5.4 billion in wagering revenue while paying just $107 million in company tax, fuelling calls for tougher regulation and a federal wagering levy.
Australia's largest online gambling companies generated $5.4 billion in wagering revenue during 2023-24 while paying only $107 million in company income tax, according to a new report by the Australia Institute.
The analysis found that major operators like Tabcorp, bet365 (Hillside) and PointsBet paid no company income tax, despite collectively earning around $1.3 billion from Australian gamblers.
The findings have intensified calls for stricter regulation including a federal levy on online betting operators and stronger measures to address gambling-related harm.
The report also revealed that the five largest betting companies recorded a taxable income of just $382 million. It resulted in an effective tax payment equivalent to only 2% of their combined revenue.
Advocacy groups and community organisations argue the figures highlight the need for tougher tax oversight and reforms to ensure the industry contributes more toward addressing the social costs associated with gambling.
Calls Grow for Industry Levy and Stronger Reforms
Australia Institute Research Director Rod Campbell said the findings reinforced recommendations made by the Murphy Review which proposed a federal levy on online wagering operators to help fund gambling harm prevention.
According to the institute, Australians lost more than $104 billion to gambling between July 2023 and July 2026, averaging approximately $666 million every week. The Murphy Review also recommended a nationwide ban on gambling advertising, the creation of a national gambling regulator and a broader public health approach to reducing gambling harm.
Community Groups Criticise Draft Legislation
The report noted that the five betting companies spent at least $600 million on advertising and marketing during the year. It is almost six times the amount they paid in company income tax.
The Alliance for Gambling Reform, Anglicare Australia, The Salvation Army, UnitingCare Australia, St Vincent de Paul Society and Wesley Mission have urged the federal government to strengthen its proposed gambling reforms. They argue the current draft legislation does not fully implement the Murphy Review's 31 unanimous recommendations.
The proposed laws would limit television gambling advertisements to three ads per hour between 6am and 8:30 pm while banning such advertisements during live sports broadcasts within those hours.
Advocacy groups have called on lawmakers to further tighten the legislation. They warned that stronger protections are needed to reduce gambling-related harm across Australian communities.
Source: The Point
At Inspirepreneurs Magazine, covering entrepreneurship, business failures, and the human stories behind the world's most ambitious founders. She writes at the intersection of strategy and storytelling.
You Might Also Like
SAP Invests $1.16B in AI Lab, Expands Data Stack with Dremio
Economists Warn of ‘Bad Recession’ as Inflation Threatens Australian Economy
