Online wagering company betr has shifted its gaming licence from the Northern Territory to Tasmania, with the new five-year licence taking effect today.
The independent Tasmanian Liquor and Gaming Commission granted the licence following an assessment process, capping what betr described as a multi-year evaluation of regulatory frameworks across Australia.
The ASX-listed company will set up an operational headquarters in Hobart, with at least six staff by the end of the year.
In a statement, betr executive chairman Matt Tripp said the company saw Tasmania as “a high-quality and respected regulatory environment”.
“This move won’t result in any more gambling, since we and all our competitors already service Tasmanian customers, but it will provide a new source of economic activity and jobs in Tasmania,” Tripp said.
“Tasmania is the right long-term home for betr and this is an important step in the evolution and ambition of our business.”
The move follows a decision by the Northern Territory government in May 2025 to double the annual tax cap on licensed corporate bookmakers, which the industry said was made without consultation.
Almost all of Australia’s major online bookmakers, including Sportsbet, Bet365, PointsBet, Ladbrokes and Neds, are licensed in the territory.
At the time, Responsible Wagering Australia chief executive Kai Cantwell said the tax increase had “blindsided” the industry and would put investment at risk.
The shift could signal a broader exodus from the territory, where the online wagering industry was estimated to contribute more than $150 million to the local economy each year.
Treasurer Eric Abetz welcomed the move and said the government would “refine” the state’s gaming laws “to provide appropriate guardrails and modern systems”.
“Tasmania’s legislation must keep up with modern industries,” Abetz said.
“A number of existing Tasmanian regulatory requirements do not appropriately reflect the technology, operating models and governance arrangements of modern online wagering businesses.”
Abetz said the move was possible because “Tasmania is open for business”.
“As a service, betr is already available to Tasmanians, but we will now reap the rewards of having local jobs,” he said.
Betr chief executive Andrew Menz said the company looked forward to its “long-term presence in Tasmania, contributing to local employment and investment.”
The company told investors customers would not need to take any action and there would be no major disruption to services.
Bets placed before today will be settled under the old Northern Territory licence, which will be surrendered after the transition.
Betr had betting turnover of around $1.19 billion in the nine months to March 31 and a market capitalisation of around $190 million.
