Online Reporter
Business Reporter
In a move set to dramatically reshape the economics of gambling for punters, the Minister of Finance, Economic Development and Investment Promotion, Professor Mthuli Ncube announced a massive increase in the tax levied on winnings.
The new measure, which takes effect from 1 January 2026, will see gamblers facing a substantial reduction in their net winnings.
The withholding tax on punters’ payouts will rise sharply from 10 percent to 25 percent.
“The Government expects that this substantial increase in taxation for punters will not only enhance the State’s revenue stream but also provide the necessary resources to address the growing betting-related vices,” Professor Ncube highlighted in the 2026 National Budget presented yesterday.
Prof Ncube said this measure intends to address the sector’s rapid growth, which has been accompanied by severe social distress.
He highlighted that issues such as “addiction, indebtedness, suicide, and loss of productive hours” have outpaced the existing regulatory controls.”
