Key Points:
- Gambling company revenues totalled $17.2 billion dollars in 2022-23.
- Meanwhile, the industry spent about $239 million advertising on free-to-air TV, metropolitan radio, and online.
- Therefore, a levy on gambling revenues of just 1.4% could replace all that lost advertising income.
- Round it up to 2% and the government could replace some of the money the ABC has lost in budget cuts as well.
"Politically, this policy is definitely worth a punt, with good odds that it would be a vote-winner," said Stephen Long, Senior Fellow at the Australia Institute.
"A 2% levy on the gambling industry, which represents a tiny fraction of the money lost on wagering, could compensate the media for any lost revenue resulting from a gambling ads ban. There would even be enough left over to replace some of the money that the ABC has lost in budget cuts as well.
"For the media and the Australian public, this represents a rare win-win scenario.
"Implementing such a policy would reduce the harm to the community that gambling advertising causes, while simultaneously guaranteeing a revenue stream for public interest broadcasting.
"The free-to-air networks could then sell the advertising slots the gambling companies occupied to other businesses while pocketing the levy as well, producing a revenue bonanza.
"Australians experience the highest gambling losses per capita globally, amounting to $25 billion annually. This alarming statistic underscores the urgent need for decisive policy measures, such as this, to address the issue."
