Global eSports betting leader Unikrn has warned that plans by multiple Australian states to implement a point of consumption tax on the operation of sportsbooks will prevent it and other innovative start-ups from entering the market.
Speaking at this week’s Gaming, Racing and Wagering Australia conference in Sydney, Unikrn’s Chief Operating Officer Andrew Vouris said that Australia is gradually regulating itself out of the market and will miss out on the opportunities that new industries such as eSports presents unless lawmakers work to welcome them in.
South Australia became the first state to introduce a point of consumption tax in 2017 and will soon see Queensland and Western Australia join the party at 15%. New South Wales is set to introduce a 10% tax from 1 January 2018 with Victoria coming in at 8%.
“Australia is taking itself out of the market,” Vouris said. “It makes it far too difficult for start-ups. For companies like Unikrn, the economics don’t make sense.
“That’s a shame because it means that Australia will miss out on companies like ours who are leading the way when it comes to betting on eSports. I think Australia has a long way to go to mature in this sphere.”
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