The sweeping changes were announced by Finance Minister Mthuli Ncube<\/strong> during the presentation of the 2026 National Budget<\/strong> at the New Parliament Building in Harare on November 28. To ensure compliance, the Minister explained that the 20 per cent levy will be treated as a final<\/strong> tax, meaning affected companies will no longer pay Corporate Income Tax.<\/p>\n\n\n\n Ncube said, according to iHarare: \u201cThe tax hike is meant to enhance fairness <\/strong>and ensure that the beneficiaries of the sector\u2019s growth also contribute meaningfully to public revenue<\/strong>. The new rate <\/strong>applies to all licensed<\/strong> betting companies, lotteries<\/strong> and casino<\/strong> operators, representing a 17-percentage-point increase.\u201d<\/p>\n\n\n\n Punters<\/strong> will also feel the impact<\/strong> of the changes, as the withholding tax on winnings rises to 25 per cent. Ncube emphasised the government\u2019s intent to formalise the rapidly growing sector<\/strong>. \u201cThe government expects that this substantial increase<\/strong> in taxation for punters will not only enhance the state\u2019s revenue stream<\/strong> but also provide the necessary resources to address the growing betting-related vices,” he said.<\/p>\n\n\n\n According to a Herald report, the Zimbabwean betting industry generated approximately $120m<\/strong> in 2023, with online operations contributing about $45m<\/strong>. Active online bettors reportedly rose to over 300,000 <\/strong>in 2024, with around 60 per cent aged 18-35, and the industry recorded annual revenue growth<\/strong> of 8-10 per cent from 2023 to 2024. Online <\/strong>betting is the fastest-growing segment of the market, reflecting changing consumer patterns<\/strong>.<\/p>\n\n\n\n The Minister also highlighted the social consequences<\/strong>, citing concerns over addiction, warning that the sector\u2019s growth has outpaced existing regulatory controls<\/strong>. The new measures aim to address both the economic<\/strong> and social risks tied to the booming gambling sector, while ensuring regulatory compliance and fairness <\/strong>in contributions to state revenue.<\/p>\n\n\n\n Zimbabwe\u2019s move represents one of the most significant reforms<\/strong> to its gambling sector in recent years, reflecting both a push for increased state revenue and an effort to mitigate social risks and enforce compliance<\/strong> in a rapidly expanding market.<\/p>\n\n\nZimbabwe betting industry surges <\/h2>\n\n\n\n
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