Canberra’s Betting Tax Backfires | Australia News

Canberra’s bold move to hike betting taxes backfired spectacularly—revenue plummeted instead of soaring, falling short by a whopping thirteen million dollars. With the highest betting tax in Australia and no racing industry share of the proceeds, the ACT’s strategy may be driving gamblers overseas to untaxed offshore sites. The lesson? High taxes without a strong legal market can backfire—federal crackdowns on illegal sites are needed, not just more levies. Support the show:Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/e311b405401829c0