BUSINESS

South Africa gets new tax system; Sportsbet signs deal with franchises; Tipp24 relaunches lotto in Germany

TAGs: Australia, Germany, Paddy Power, Schleswig-Holstein, South Africa, Sportsbet, Tipp24

south africa sportsbet tipp24South Africa will have have a new gambling industry tax regime in place as of next year. Finance Minister Pravin Gordhan told the government in his budget speech: “It is proposed that a national tax based on gross gambling revenue should be introduced effective from April 1 2013 as an additional one per cent levy on a uniform provincial gambling tax base. A similar base will be used to tax the national lottery.”

Gamblers are currently subject to a 6% deduction on winnings and Gordhan had proposed an additional 15% withholding tax on all winnings above R25,000 (£2,000). This was met with strong opposition for obvious reasons and under the new system everyone will see fairer treatment.

Australian betting firm Sportsbet has signed an agreement to act as the official betting partner for two sporting franchises in new South Wales. Paddy Power’s subsidiary Down Under signed the two-year-deal with Hunter Sports Group to be in partnership with soccer club Newcastle Jets and National Rugby League outfit Newcastle Knights. Sportsbet will enjoy stadium signage, online advertising and member promotions as part of the deal. Sportsbet CEO Cormac Berry commented: “We are extremely pleased to be partnering with the Hunter Sports Group and look forward to contributing to the many charity groups that will be involved in this partnership.”

The firm’s site will also feature a challenge where a player from each time places a bet and the proceeds are given to a charity of his choice.

German gaming firm Tipp24 has relaunched its lottery business after changes to the country’s gambling industry laws. Their product will operate under the Lotto24 thanks to the passage of new legislation in Schleswig-Holstein – allowing for state-run online lottery operations. The latest news comes after the state had received over 80 licence submissions and assured operators there’s more than enough to go round. Must be some gateau they’re cooking up.

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