Betr Secures Gaming License in Tasmania, Exits Northern Territory

Betr has secured a five-year gaming license from the Tasmanian Liquor and Gaming Commission, marking a significant regulatory shift as the company exits the Northern Territory. The independent commission granted the license following a multi-year evaluation of regulatory frameworks across Australia, with the approval taking effect immediately. The Betr online bookmaker reported betting turnover of around $1.19 billion in the nine months to March 31, with a market capitalisation of approximately $190 million. Tasmania expects to gain around $1 million in initial revenue and eight new jobs from the relocation, while the Northern Territory faces potential broader implications as the online wagering industry previously contributed more than $150 million annually to its local economy.

Betr Online Bookmaker Relocates Operations to Tasmania

The ASX-listed Betr online bookmaker will establish an operational headquarters in Hobart with at least six staff by the end of the year. Executive chairman Matt Tripp stated Tasmania offered “a high-quality and respected regulatory environment”. Chief executive Andrew Menz said the decision followed a multi-year evaluation of Australian regulatory frameworks, adding the company looked forward to “establishing our long-term presence in Tasmania, contributing to local employment and investment”.

The relocation stems from the Northern Territory government’s May 2025 announcement to double the annual tax cap on licensed corporate bookmakers. As a result, Betr became potentially the first of several online betting companies to abandon the jurisdiction due to higher taxes and regulation.

The transition process addresses customer continuity concerns. Bets placed before the license activation date will be settled under the old Northern Territory license. The company told investors customers would not need to take any action and there would be no major disruption to services. Betr will surrender its NT license after completing the transition.

Matt Tripp emphasized the move would not increase gambling activity since Betr and competitors already service Tasmanian customers, but would provide a new source of economic activity and jobs.

Tasmania Admits Current Regulations Need Modernization

The government acknowledged the current regulatory framework requires improvement following the Betr online bookmaker license approval. Independent MP Andrew Wilkie expressed concerns about the move, particularly questioning whether Tasmania possessed adequate safeguards for online gambling operations.

Tasmania announced its Future Gaming Market policy in January 2018, confirming exclusivity arrangements under the Deed of Agreement with the Federal Group to conduct casino operations would end in 2023. Legislative amendments to the Gaming Control Act 1993 became necessary to implement these changes. The state’s harm minimisation framework earned recognition as best practice, with the Tasmanian Liquor and Gaming Commission operating independently to regulate gambling activities.

In January 2026, the government delivered new harm minimisation measures for electronic gaming machines. Treasurer Eric Abetz stated the reforms aimed to protect vulnerable individuals while respecting personal choice. The enforced closing period for gaming areas increased by 75 per cent to seven hours every 24 hours. New technology will enable immediate self-exclusion through QR codes at venues, while facial recognition becomes mandatory for all registered excluded patrons through the Tasmanian Gambling Exclusion Scheme.

The commission maintains broad regulatory powers including license applications, venue monitoring, and complaint resolution as well as overseeing Community Support Levy administration.

What Economic Benefits Will Tasmania Gain?

Betr employs around 130 people nationally in offices across Melbourne, Sydney and Darwin. The company’s economic footprint in Tasmania remains modest compared to established operators. For instance, Betfair employs 135 staff in its Hobart offices and contributes GBP 15.88 million annually to the Tasmanian economy with more than GBP 3.97 million in product fees paid directly to racing and sports.

The state’s small market footprint presents limited commercial upside for bookmakers attempting to dominate the Tasmanian market, as it contains only 2 per cent of Australia’s population. Furthermore, Tasmania records the lowest spending on wagering per capita of any state or territory, alongside the lowest Point of Consumption Tax revenue.

The full benefit of Betr’s five-year license for both the company and the Tasmanian economy may not emerge until reforms to the Gaming Control Act occur. In terms of revenue allocation, the government could utilize additional funds collected to subsidize the local racing industry, which operates under a 20-year funding deed expiring in June 2029.