Think tank proposes 2% levy on Australian gambling revenue

The Australia Institute said a levy on gambling profits could compensate free-to-air TV for lost revenue from a proposed ban on gambling ads.

Australia.- The Australia Institute, an independent think tank, has proposed a 2 per cent levy on gambling revenues to replace some of the money the Australian Broadcasting Corporation (ABC) could lose if a ban on all gambling ads is approved.

Stephen Long, a senior fellow, and Richard Denniss, the executive director of the institute, said such a levy would cost the industry less than a quarter of a billion dollars a year. “That’s a tiny fraction of the money lost on wagering,” they stated.

The think tank said: “A small levy on the many billions of dollars gambling companies extract from Australians could compensate the media for the lost revenue. Such a levy would cost the gambling industry less than a quarter of a billion dollars a year.”

A week ago, a group of over 60 prominent Australians including former prime ministers, MPs, union leaders, sports figures, business professionals, health experts and community advocates signed an open letter calling for a ban on all gambling ads within three years. The group is urging the Federal Government and the Opposition to commit to adopting all reforms recommended by the late Labor MP Peta Murphy’s Federal Inquiry into Online Gambling.

See also: Australian communications minister refutes claims of industry pressure on gambling reforms

The Australia Institute said a levy on gambling profits could compensate free-to-air TV for lost revenue from a proposed ban on gambling ads. Australia.- The Australia Institute, an independent think…