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DraftKings launches in Australia as territories introduce new taxes

Boston-based daily fantasy sports platform DraftKings has announced that it has now officially launched in Australia, despite more territories introducing high point of consumption taxes for online gambling.

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DraftKings is the largest platform of its kind and Australia will be the eighth country that it has launched in, following success in Europe and North America.

The news comes as public opinion in Australia surrounding gambling has turned very negative. New points of consumption taxes for gross gambling yield have been introduced in several territories including South Australia, Victoria, New South Wales, Queensland and Western Australia.

Most recently in the Australian Capital Territory’s budget for the upcoming year, a 15% point of consumption tax, the same as the other territories except Victoria (8%), on online betting was announced, set to come into effect on 1 January 2019.

However, DraftKings will be hoping that their platform which allows for players to wager on several sports, including football, could prove profitable at this point in time with increased interest generated by Australia’s qualification for the upcoming Fifa World Cup.

Commenting on the decision to venture into the Australian market DraftKings Chief International Officer, Jeffrey Haas said: “DraftKings’ DFS product takes sports fans’ game experience to another level, keeping them more engaged with their favourite athletes, teams and codes. Australia is home to some of the most passionate sports fans in the world and that’s a key reason why DraftKings decided to open there.

“We’re confident Australians will enjoy the exciting and innovative competition formats we have available across ten international sports, and their ability to compete against other people, both local and international.”

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