Various media, including The Australian, report that the NSW Government will place a 10 per cent tax on all online ­gambling bets when the state budget is presented by the Treasurer Dominic Perrottet next week.

The point of consumption (POC) tax will take effect from January 1 next year. This follows  a Victorian tax of 8 per cent on online bookmakers, which was introduced in Victoria’s state budget in May this year.

The Australian explains that the tax aims to bring companies such as Ladbrokes and Sportsbet closer into line with Tabcorp in terms of how much tax they pay to the state’s economy. At present, most online ­gambling companies in Australia are headquartered in the ­Northern Territory and pay only small fees to participate in the ­industry. A higher rate of 15% was considered but ruled out as operators already pay a number of other taxes.

It is rumored that a percentage of the overall online gambling revenue will be given to the NSW racing industry and that some of the money raised will help fund a local greyhound racing integrity commission.