A small levy on the many billions of dollars that gambling companies extract from Australians could compensate the media for revenue lost from a potential gambling advertising ban, with enough left over to increase funding for the ABC, new research from the Australia Institute shows.
“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.”
