The Bulletin magazine has offered a $1.25m reward, to celebrate the publication’s 125th anniversary.

However a report in the Mercury newspaper said another offer has topped it.

“We’ve been gazumped by the Bulletin so we’re going with (our $1.75m reward) now,” Stewart Malcolm of Thylacine Expeditions told the Mercury.

“We’ve had huge interest from overseas, particularly from the US, but it’s gone crazy since the reports of photos from the German tourists.”

Last month, a German tourist submitted two digital images of what he suspected could be the mysterious carnivorous marsupial, the thylacine.

The ‘discovery’ reignited intense interest in the tiger, which was officially declared extinct in 1986.

The last known thylacine died in captivity in a Hobart enclosure fifty years earlier.

But thousands of reported sightings have since been made, with roughly 150 reports investigated each year.

“If the tiger has somehow managed to cling to survival, proving its existence would be one of the greatest scientific stories of the century,” the Bulletin’s editor in chief Garry Linnell wrote in the magazine’s reward offer.

The Bulletin stipulates strict conditions for the tiger hunt, including the capture of a live, uninjured animal carried out in accordance with government regulations.

But, it’s not clear how prospective hunters could legally make a capture, if the tiger has in fact survived somewhere in Tasmania’s wilderness.

“The reward clearly specifies that it has to be legally done, and I can’t see how it can be legally done without a permit, and we won’t be issuing permits for people to attempt to catch thylacine just to satisfy public curiosity,” wildlife biologist Nick Mooney, told the ABC’s 7:30 Report.

Tasmanian Environment Minister Judy Jackson expressed concerns that people were being encouraged to venture into sensitive areas, potentially putting at risk other species such as the Tasmanian devil.

“What I’d suggest to the Bulletin to celebrate their 125th anniversary is to offer that money for scientific research here in Tasmania for other species that are threatened, such as the devil,” Ms Jackson said.

Bounty hunters have until June 30 to snare themselves a tiger.

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