Bitcoin Forum

Economy => Gambling discussion => Topic started by: SirJohnVonSlotty on September 17, 2023, 06:46:46 AM



Title: Are You Tax Efficient With Your Gambling Habbits?
Post by: SirJohnVonSlotty on September 17, 2023, 06:46:46 AM
I'm researching the topic on how many users actually report their winnings or losses to the tax authority, and from the current research there's a major discrepancy in the processes from country to country;


Quote
#1. Residents of the UK, Canada, and Australia don’t need to pay anything at all, as these governments view this money as the result of good fortune and do not view gambling as a profession. These earnings do not need to be reported, and nothing is owed on them.  
#2. Malta is also pretty simple. Gambling winnings are only taxed if the player is a professional gambler, though this term is not strictly defined, but if you're earning above the "grace amount" of 12950 EUR, you can apply for it.
#3. The US taxes all gambling winnings as income. In fact, there’s even a special form for documenting your gambling wings: Form W-2G. This money is counted towards your yearly income and will be taxed at whatever bracket you fall into at both the state and federal levels. You must keep track of the type of gambling, the amount of the gambling winnings, and the general ratio of the winnings to the wager, as these will all be needed for filing. Conversely, any gambling losses that occur on a real money online casino platform can be tax deductible in an amount up to your total yearly winnings. Losses and winnings must be filed separately and not as a net amount.
Source: EsportsHeadlines.com (https://esportsheadlines.com/esports-earnings-prize-money-taxation-guide/)


Now I'm quite curious how other gamblers are managing this part of the story, if they manage it at all.

So, question to you, did you ever consider paying taxes on your gambling winnings, or deduct the taxes with the losses you've created? If not, what is the reasoning behind it?



Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Yogee on September 17, 2023, 07:06:23 AM
[....]
If not, what is the reasoning behind it?
I hardly make a big bank from gambling on a yearly basis so it doesn't make sense to even add that to the income tax returns. I think authorities should only go after casinos since they rarely end up in a loss. It's probably more costly for them to go after most casual gamblers that don't even keep a record of their wins and losses.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Poker Player on September 17, 2023, 07:11:11 AM
Well, you only talk about Anglo-Saxon countries and I am going to add the socialist Europe which is the most heavily regulated in the world in terms of gambling.

https://www.talkimg.com/images/2023/09/17/63O4P.jpeg

https://www.egba.eu/eu-market/licensing/

Let's put this in a more global perspective.

https://www.talkimg.com/images/2023/09/17/63Wxq.png

https://slotegrator.pro/analytical_articles/where-online-gambling-is-legal.html

So, without knowing exactly what happens in all the countries of Europe, in most of them taxes are paid for gambling (http://V), which the user has to declare in the income tax return.

Quote
Are gambling winnings taxable in Italy?

The tax regime applying to online gambling is profit-based. The tax rate is 20% for games of skill (including poker tournaments) and casino games, card games (including poker) and bingo. The rate is 22% for sports betting...

Are gambling winnings taxable in Europe?
In Europe, not all jurisdictions are tax free. Germany, for example, not only taxes winnings but stakes as well. German gamblers need to pay a 5% fee on any stake wagered whether they're betting online or playing online casino games. Those who lose are not required to pay more tax.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Latviand on September 17, 2023, 07:15:23 AM
Now I'm quite curious how other gamblers are managing this part of the story, if they manage it at all.

So, question to you, did you ever consider paying taxes on your gambling winnings, or deduct the taxes with the losses you've created? If not, what is the reasoning behind it?
Tax code in my country which is the Philippines is pretty vague when it comes to gambling winnings, although it says that if my winnings are around 200 USD below are taxed at 10% while anything above would be taxed at 20% pretty big to be honest and this is the first time that I've known of this because I don't think the Revenue Service in my country hasn't been on my ass yet for taxes regarding gambling winnings, I only play poker though so it's possible casinos and lottery wins are a different thing.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Poker Player on September 17, 2023, 07:40:17 AM
I forgot to say earlier that I think there are a lot of tax efficient gamblers on this forum because they don't declare any of their crypto bets, and I would be the vast majority of them don't get caught. Someone playing from regulated Europe or from countries where gambling is prohibited with vpn and/or Tor to get past the blockades and play in unlicensed crypto sites or licenses from places like Curacao is not going to shoot himself in the foot by declaring a prohibited activity to their country's treasury.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Crypt0Gore on September 17, 2023, 08:01:06 AM
I think it makes sense if casinos are the ones paying the government, I believe that's what they are doing presently, it's why they are allowed to run their business after they are registered, tax on casinos itself makes sense than tax on gamblers jackpot, anyway, I am not from any of these countries so I will never know.

I am from a country that tax payment on gambling is not even needed, whatever the government wants is going to come from the casino owners pocket, and seriously I don't like exposing how I make my money to the banks, if the bank knows then the government knows too, this is why I don't use Fiat for gambling, I'm grateful that we have crypto for this purpose if not I won't be a gambler or a investor today.

I don't want situations where I won millions of dollars and withdraw that money into my bank account, it's going to be a problem as I will have to prove where that money comes from, any big money is probably a fraud or other illegal cases in my country.

Whatever I do about Money must stay away from centralized entities, they will monitor my life if they noticed my net worth.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Accardo on September 17, 2023, 08:37:06 AM
I forgot to say earlier that I think there are a lot of tax efficient gamblers on this forum because they don't declare any of their crypto bets, and I would be the vast majority of them don't get caught. Someone playing from regulated Europe or from countries where gambling is prohibited with vpn and/or Tor to get past the blockades and play in unlicensed crypto sites or licenses from places like Curacao is not going to shoot himself in the foot by declaring a prohibited activity to their country's treasury.

This is risky in some countries, and can be considered tax evasion. If unfortunate, the player can in a day get unlucky twice, if caught by the casino, he'll lose his earnings and as well face the Government. There are other means of avoiding the tax, like compiling a good number of losses amounting to less winning amounts when checked alongside your winnings. Since smaller amounts don't get taxed. I read on quora a player that gets slips of losses from different players and submit as their own losses, thereby, deducing the amount of tax expected to be paid for winning. But, for how long will that be? any player that wins big may not continue to avoid paying taxes.

I think it makes sense if casinos are the ones paying the government, I believe that's what they are doing presently, it's why they are allowed to run their business after they are registered, tax on casinos itself makes sense than tax on gamblers jackpot, anyway, I am not from any of these countries so I will never know.

In some countries, the casino deducts the tax from the winning of the player, which is then forwarded to the government and the player assigned proof of payment. The  tax on gamblers who win big, are also seen as income, used by the government to maintain the country. That's why different countries differ in terms of gambling winnings, in some countries it's not required for a gambler to pay tax for being lucky.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: aioc on September 17, 2023, 08:54:51 AM

So, question to you, did you ever consider paying taxes on your gambling winnings, or deduct the taxes with the losses you've created? If not, what is the reasoning behind it?

We don't have this in our country and I don't include it in my tax report I'm not a whale and I never made a profit from my gambling I win some but most of the time I lose and I don't want to deduct my losses to my tax, gambling for me is only recreational, our government does not charge taxes to small time gamblers but it's different when you win a lottery which the favorite gambling form in our country.
They deduct 20% from your winning of course since the government run the casino and lottery they targeted big winners instead of small bettors.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Jating on September 17, 2023, 09:16:37 AM

So, question to you, did you ever consider paying taxes on your gambling winnings, or deduct the taxes with the losses you've created? If not, what is the reasoning behind it?

We don't have this in our country and I don't include it in my tax report I'm not a whale and I never made a profit from my gambling I win some but most of the time I lose and I don't want to deduct my losses to my tax, gambling for me is only recreational, our government does not charge taxes to small time gamblers but it's different when you win a lottery which the favorite gambling form in our country.
They deduct 20% from your winning of course since the government run the casino and lottery they targeted big winners instead of small bettors.

Same goes with me, so I will say that I don't pay any gambling taxes because it is not mandated by law here. On the other hand, it is the casino themselves who pay taxes to the government, but I think it's very lenient to some extend as our government are trying to attract casinos to put here, to bring jobs in our country.

But if they are going to say that we will have to pay taxes then why not? So I guess we are just lucky that our government even how small or big gamblers we are, we are not on any tax bracket.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Z390 on September 17, 2023, 09:26:41 AM
Governments are benefiting a lot from casinos in the countries, they pay a lot of money to keep their business running, I have heard stories about how the government will tax you when you want to build a casino in a particular city, you will be paying a lot, running a casino is not for a fainted heart.

I don't know about other countries but in my country you don't need to pay anyone to keep gambling, it's a game of luck and many gamblers will lose money, the government understand this, if it's other way around every single gamblers will be forced to pay tax or something related to it, I mean isn't it why the government in some countries are going after crypto investors?

They know that casinos will never lose or run out of business because its a win situation for those who are running the business, it's like feeding off people and the government understand it, only few countries ban casinos, it's a lucrative business.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: xSkylarx on September 17, 2023, 09:37:30 AM
In my country the lottery winners that won over $200 they are already automatically deducted with 20% tax on it meaning you wont received your full winnings because it was already deducted 20% in that shop and they are the one who will remit it to the tax department, below $200 is not taxable but in casino if you win a jackpot or you have been lucky that win good amount of money this depends if someone in authority will ask you to go to their office to fill out a form that you've declared that winning  because mostly ive noticed that those jackpot winnings like in slot machine they tend to pay tax over the counter as they declare their winning but to others that playing multiple games and got multiple winnings I don't see that they declare it as they just leave.

Tax is everywhere in our country and most of the people that notice that you won in gambling over $200 tend to report it to the tax department which is actively contacting you to pay their cut. That is why others keep quiet on it and they are also gambling online in crypto because no one will know you won unless you tell them.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: SirJohnVonSlotty on September 17, 2023, 09:42:32 AM
In my country the lottery winners that won over $200 they are already automatically deducted with 20% tax on it meaning you wont received your full winnings because it was already deducted 20% in that shop and they are the one who will remit it to the tax department.

The lottery part was always interesting, every country has some type of "national" lottery and usually that framework is automatically (and heavily) taxed. If someone wins a million on the lottery, they don't even get a chance to get the whole amount onto their bank account, the tax is automatically deducted before they even get the winnings.



Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: piebeyb on September 17, 2023, 09:52:29 AM
Usually, if it's in a legal country, of course every gambling site, whether it's a lottery, will automatically deduct tax on their users' winnings, just like crypto exchange sites in my country, but since casinos and gambling of any kind are illegal in my country, I don't have to pay tax on my winnings, but If it is possible in my country to legalize casinos or other gambling sites, of course I will pay taxes if I get a big win.

Moreover, gambling will be used for development as well as for the country, so there is no problem if it has to be taxed, but since I never use my bank account to gamble, of course the government will also find it difficult to track that, because I am more active in using crypto to gamble in the end. This means it is still considered safe from taxes, after all I haven't won any gambling lately  :D


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: pawanjain on September 17, 2023, 10:02:47 AM
I'm researching the topic on how many users actually report their winnings or losses to the tax authority, and from the current research there's a major discrepancy in the processes from country to country;


Quote
#1. Residents of the UK, Canada, and Australia don’t need to pay anything at all, as these governments view this money as the result of good fortune and do not view gambling as a profession. These earnings do not need to be reported, and nothing is owed on them.  
#2. Malta is also pretty simple. Gambling winnings are only taxed if the player is a professional gambler, though this term is not strictly defined, but if you're earning above the "grace amount" of 12950 EUR, you can apply for it.
#3. The US taxes all gambling winnings as income. In fact, there’s even a special form for documenting your gambling wings: Form W-2G. This money is counted towards your yearly income and will be taxed at whatever bracket you fall into at both the state and federal levels. You must keep track of the type of gambling, the amount of the gambling winnings, and the general ratio of the winnings to the wager, as these will all be needed for filing. Conversely, any gambling losses that occur on a real money online casino platform can be tax deductible in an amount up to your total yearly winnings. Losses and winnings must be filed separately and not as a net amount.
Source: EsportsHeadlines.com (https://esportsheadlines.com/esports-earnings-prize-money-taxation-guide/)


Now I'm quite curious how other gamblers are managing this part of the story, if they manage it at all.

So, question to you, did you ever consider paying taxes on your gambling winnings, or deduct the taxes with the losses you've created? If not, what is the reasoning behind it?



I guess I am good at taxing my gambling because I make zero profits from gambling which means zero tax.
If I don't have to pay any tax why to take the burden of reporting it(although we should).
I play gambling for fun and keep playing until I lose it all over a certain period of time.
Then next deposit comes in after a cooling period and then the cycle repeats.
So I never make any net profit out of gambling.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: edmundduke on September 17, 2023, 10:12:20 AM
Generally speaking i think we do not need to pay taxes on gambling here so not an issue. But its a completely different ballgame when it comes to paying taxes on trading. We need to pay taxes on every winning trade, while losses are not counted. So that messes up people a lot


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: coin-investor on September 17, 2023, 10:23:44 AM
I'm researching the topic on how many users actually report their winnings or losses to the tax authority, and from the current research there's a major discrepancy in the processes from country to country;

Now I'm quite curious how other gamblers are managing this part of the story, if they manage it at all.

So, question to you, did you ever consider paying taxes on your gambling winnings, or deduct the taxes with the losses you've created? If not, what is the reasoning behind it?


Just to be fair to our government I don't state my winnings and deduct my losses with so many losses I incur our government will lose from my tax so I prefer not to include my gambling activity from my paying taxes besides I'm a small player this only applies to a big-time gambler and I don't think they bother to mention winnings coming from online casinos.
They usually deduct coming from physical casinos and lottery but they don't oblige gamblers to online casinos and they are not tracking people who gamble at online casinos at this point in time.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Yogee on September 17, 2023, 10:32:37 AM
Generally speaking i think we do not need to pay taxes on gambling here so not an issue. But its a completely different ballgame when it comes to paying taxes on trading. We need to pay taxes on every winning trade, while losses are not counted. So that messes up people a lot
Trading crypto is synonymous to trading stocks and forex so I think it's only normal when gains or losses treated the same way when it comes to tax. Different states have different taxation rules but have you checked if capital losses from stocks or forex are also not deductible from capital gains?

[....]
But if they are going to say that we will have to pay taxes then why not? So I guess we are just lucky that our government even how small or big gamblers we are, we are not on any tax bracket.
It may be unwise for the Government to do so. The problem with that is it's going to reward gamblers by giving them tax incentives from their fun and leisure since most of us end up losing. Imagine if you're supposed to pay $5,000 tax but it's been cut to just $2,000 because you were allowed to deduct gambling losses.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Wexnident on September 17, 2023, 10:38:47 AM
In the PH afaik, there is a law though afaik that requires gambling winnings from a certain amount to be taxed (I'm not familiar with how much), but I don't think the government actively looking for tax traders of gambling winnings. I've never filed one in my entire life to be fair (don't report me  ;) ), but I don't think I've ever won anything big enough that I need to pay tax for it, at least from what I know. I never really looked up the minimum amount needed for tax reports anyway.

Maybe if I win a big jackpot then I'd move my way to file my taxes for it, but for small amounts? Not worth the personal effort (unless they actively require it ofc).


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Fortify on September 17, 2023, 11:01:22 AM
I'm researching the topic on how many users actually report their winnings or losses to the tax authority, and from the current research there's a major discrepancy in the processes from country to country;


Quote
#1. Residents of the UK, Canada, and Australia don’t need to pay anything at all, as these governments view this money as the result of good fortune and do not view gambling as a profession. These earnings do not need to be reported, and nothing is owed on them.  
#2. Malta is also pretty simple. Gambling winnings are only taxed if the player is a professional gambler, though this term is not strictly defined, but if you're earning above the "grace amount" of 12950 EUR, you can apply for it.
#3. The US taxes all gambling winnings as income. In fact, there’s even a special form for documenting your gambling wings: Form W-2G. This money is counted towards your yearly income and will be taxed at whatever bracket you fall into at both the state and federal levels. You must keep track of the type of gambling, the amount of the gambling winnings, and the general ratio of the winnings to the wager, as these will all be needed for filing. Conversely, any gambling losses that occur on a real money online casino platform can be tax deductible in an amount up to your total yearly winnings. Losses and winnings must be filed separately and not as a net amount.
Source: EsportsHeadlines.com (https://esportsheadlines.com/esports-earnings-prize-money-taxation-guide/)


Now I'm quite curious how other gamblers are managing this part of the story, if they manage it at all.

So, question to you, did you ever consider paying taxes on your gambling winnings, or deduct the taxes with the losses you've created? If not, what is the reasoning behind it?

There are exceptions but you could generally consider most gamblers to be in the general league when it comes to their finances. It's a fun hobby and they spend a bit of leisure cash on it, winning some weeks and losing other weeks. There is only a tiny fraction of people who will need to look at their gambling winnings to the level that you are suggesting. People who might be in the esports scene, especially good sports bet gamblers and even professionals in areas like poker. I wouldn't imagine that most countries will benefit from doing anything when it comes to their gambling spend, they won't get any tax breaks because it is considered a leisure/optional activity and has even traditionally been frowned upon as a "sin" so is more likely to be penalized than anything.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: michellee on September 17, 2023, 11:02:52 AM
I am not required to pay taxes on my gambling winnings because I do not gamble at offline casinos. And even though I gamble at an offline casino, no tax is charged. Even when I play online gambling, I will not be asked to pay taxes because it might be outside the government's authority, especially if the casino is not in my country.

But if I enter a government-sanctioned lottery and win, a winnings tax must be submitted to the organizer.

And even when there is a loss, the government does not collect the tax because gambling is each person's responsibility. But casino owners pay entertainment taxes and other taxes because the casino provides a gambling place for people who gamble at the casino.

There are already taxes imposed on people as income tax so the government has not collected taxes from the gambling business.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: EarnOnVictor on September 17, 2023, 11:40:30 AM
Now I'm quite curious how other gamblers are managing this part of the story, if they manage it at all.

So, question to you, did you ever consider paying taxes on your gambling winnings, or deduct the taxes with the losses you've created? If not, what is the reasoning behind it?
Gambling tax law has ever been a subject of controversy and even in the same country, it's often mistaken at times. However, what you've expressed above has said a lot about it, and different countries view gambling taxes differently, and hence they tax it differently. In my country Nigeria, no government cares about your tax losses or gains, they only have a 7% tax on the casinos/sportsbooks which is similar but far lower than what is happening in the UK.

I think this is fair enough as the house is the one that makes the consistent earnings, not the bettors.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: 3kpk3 on September 17, 2023, 11:41:19 AM
Taxes for gambling? Am tired of paying taxes for so many things already which is why paying more taxes especially for gambling is a big 'NO' for me. Gambling is already a risky venture and taxes would just amplify the risk factor.

I truly pity the people who are forced to pay taxes for gambling in some countries.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Kakmakr on September 17, 2023, 11:55:20 AM
In my country we pay "Capital Gains" taxes on all the bitcoins that we converted into fiat... and for that, there are paper work that can trace that conversion. You only need to declare the origin of the money, if you get audited... and then things gets interresting.. because a lot of the smaller casinos do not keep records of your gambling activities.

They actually keep record of all withdrawals and all deposits, so it is easy to see what you profits were, when you minus the withdrawals from the deposits that you made within the tax period. (Most people do not make a profit.)  :P


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: stadus on September 17, 2023, 01:06:50 PM
Perhaps in other countries with strict taxation laws, especially regarding gambling, they have a well-defined system for compliance. However, in my case, I haven't heard of gamblers in our country being required to pay taxes on their winnings. Therefore, I don't pay taxes on my winnings. Though, in reality, I'm not really winning overall, so it feels like a double loss on my part – losing while paying taxes.

If they were to require it, I believe making casinos withholding tax agents would ensure that gamblers pay what is due to the government.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: dimonstration on September 17, 2023, 01:09:11 PM
Now I'm quite curious how other gamblers are managing this part of the story, if they manage it at all.

So, question to you, did you ever consider paying taxes on your gambling winnings, or deduct the taxes with the losses you've created? If not, what is the reasoning behind it?



A very intriguing topic hich I ponder a lot whenever I’m on profit side. Our country doesn’t strictly regulate tax on online casino. They are leaving it to the citizens for voluntarily pay and file taxes since our government doesn’t have enough man power to strictly regulate us all.

I don’t pay taxes myself on my gambling activities since it’s too painful to document all my expenses and pay for it on the office located on the city which is very far away on my house. Online payment here is not working so I decided to just skip since our government doesn’t care. But if I will be given a chance to live near the BIR office here then I will pay taxes if I’m on profit.  ;)


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: slapper on September 17, 2023, 01:36:44 PM
 Being a gambler myself and not a US resident, I've always found the tax landscape quite interesting. I can see how the UK, Canada, and Australia, for instance, make life a tad simpler for their gamblers. No tedious forms or a calculator at hand to know if you owe the taxman after every blackjack round

Now, personally, I've never been enticed to declare my winnings or deduct my losses. Why? Because the onus is on the tax authority to track every hand of poker I play. Not my job, right? Until they bring clarity to their vague terms and processes, why should I voluntarily jump into a bureaucratic mess? However, if they tighten the noose, maybe I'll reconsider


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: YOSHIE on September 17, 2023, 01:40:21 PM
So, question to you, did you ever consider paying taxes on your gambling winnings, or deduct the taxes with the losses you've created? If not, what is the reasoning behind it?
Never mind paying taxes, just gambling winnings, there is no intention to inform the public, let alone the tax authorities, Basically online gambling in my area is mostly illegal, but even though gambling is illegal we are still safe and we can go in to gamble, you could say it is illegal but legal, This means that online gambling secretly pays taxes to the authorities, but not from users, only from the online gambling industry.

We gamble without having to pay anything to the state/taxes, even if we win large amounts, users are free to take their winnings and it's up to them, wherever they take the gambling money, they are free without any collection.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Saisher on September 17, 2023, 01:43:46 PM
So, question to you, did you ever consider paying taxes on your gambling winnings, or deduct the taxes with the losses you've created? If not, what is the reasoning behind it?
We do not have a provision that asks about our gambling wins and losses so people here do not have to include that I myself do not include it, not making a profit from gambling whatever I win I eventually lose it all and since its recreational for me recreational experience I believe should be tax, because I'm not really not gaining anything from my gambling activities.
The one that our government is taxing is gambling platforms online and offline, especially coming from winning the government gets a huge cut on these winnings.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Gozie51 on September 17, 2023, 02:39:12 PM
Taxing here is for those who are gainfully employed and not just for side husslers because gambling is not recognised as source of income or livelihood. Those who are employed are those that are taxed because it is easier to deduct it from source, that is salary and more people that are taxed are those having account with government like business organizations but for gamblers who are not even sure to win, they don't report winnings likewise or would you be repayed back your losses? No body returns what you have lost since it is not recognised source of income.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Eureka_07 on September 17, 2023, 03:11:11 PM
In the PH afaik, there is a law though afaik that requires gambling winnings from a certain amount to be taxed (I'm not familiar with how much), but I don't think the government actively looking for tax traders of gambling winnings. I've never filed one in my entire life to be fair (don't report me  ;) ), but I don't think I've ever won anything big enough that I need to pay tax for it, at least from what I know. I never really looked up the minimum amount needed for tax reports anyway.

Maybe if I win a big jackpot then I'd move my way to file my taxes for it, but for small amounts? Not worth the personal effort (unless they actively require it ofc).
From the tax code, it is stated that anything above 10,000 pesos of winnings are subjective to being taxable. I am not sure of it, but that was what I read recently. You could verify it to BIR's website. This tax code though is not very clear and specific though, so until now, the topic of whether you should file it or not is still a debate.
They also say that you won't be able to tax deductible your losses if you are not a professional gambler, how unfair if that is true.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: so98nn on September 17, 2023, 03:11:32 PM
In India it is mandatory to show the income from gambling sites. We consider it as Virtual assets and other income under one of the section of Taxation. However it is another case whether we show that income or not. For business personnel it is very easy to adjust the various income slots and lesson the income from gambling sites or at least show it that way. The tax can be lowered that way. However when it comes to an individual full tax slots need to be paid. If we are playing and earning in the form Bitcoin then anything sold off in terms of bitcoin would be considered as 30% tax slot. It’s way better to just hold the winnings and keep them safe in wallet.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Coin_trader on September 17, 2023, 04:11:32 PM
Now I'm quite curious how other gamblers are managing this part of the story, if they manage it at all.

So, question to you, did you ever consider paying taxes on your gambling winnings, or deduct the taxes with the losses you've created? If not, what is the reasoning behind it?
Tax code in my country which is the Philippines is pretty vague when it comes to gambling winnings, although it says that if my winnings are around 200 USD below are taxed at 10% while anything above would be taxed at 20% pretty big to be honest and this is the first time that I've known of this because I don't think the Revenue Service in my country hasn't been on my ass yet for taxes regarding gambling winnings, I only play poker though so it's possible casinos and lottery wins are a different thing.

I believe you use this article https://www.legalonlinecasinos.ph/laws/faqs/ as reference to your statement since there’s a similarity on the tax part. I suggest that you should drop source link if you will post like that since the thought is not yours.

Also this percentage for tax is applicable for lottery winnings and tax varies on the type of gambling games which the profit get.

But yeah, Gambling tax in our country is not regulated. Only those gambling that operated by PAGCOR licensed gambling provider are being audit for tax.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Slow death on September 17, 2023, 04:59:20 PM
In my country the lottery winners that won over $200 they are already automatically deducted with 20% tax on it meaning you wont received your full winnings because it was already deducted 20% in that shop and they are the one who will remit it to the tax department.

The lottery part was always interesting, every country has some type of "national" lottery and usually that framework is automatically (and heavily) taxed. If someone wins a million on the lottery, they don't even get a chance to get the whole amount onto their bank account, the tax is automatically deducted before they even get the winnings.

In my country, lottery games only pay tax at the time of purchasing the lottery ticket, for example if a lottery company puts the price of a lottery ticket as $1.50 per ticket, then it is because that company has already told you that 16% will be deducted. tax on each ticket that each person buys, while the winner does not pay any tax, if he wins 1 million dollars, it will be 1 million dollars that he will have in his bank account. In the case of physical casinos in my country, when people win money in the physical casino they are charged tax, this 17% tax amount is removed every time the person makes a bet and not when they win money and want to withdraw from the casino

In the case of online casinos it is the same thing, but this only applies to online casinos in my country that use fiat from my country to make deposits, play and make withdrawals, tax is also deducted on each bet. In the case of crypto casinos, we do not pay taxes because in my country there are no laws on cryptocurrency taxes yet. Cryptocurrencies are accepted in my country but the government has not yet thought about charging taxes

That's why we don't pay tax for people who play in crypto casinos. At least for now this is a good thing, especially because the taxes we pay the government takes and spends unnecessarily to enrich themselves and everyone in their family. I see that it should be fair that the rich who have big companies also pay the same amount of taxes that a poor person pays, but in my country, the shitty government we have, keeps giving exemptions and reducing the amount of taxes for the rich and big companies. something wrong


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: darkangel11 on September 17, 2023, 05:36:52 PM
I'm very efficient, being in the UK.
Even if it was required to report gains from gambling, I'd keep it a secret since it's all in cryptocurrency, at least until I ever decide to trade it, but it can take years and I don't even know if I'll be a citizen of the country I'm at now when that happens. Don't overdo it with taxes, that's one of the important things I've learned in life. You have to understand what you have to pay and what you can skip and thread carefully on the line that separates the two ;)


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: 3kpk3 on September 17, 2023, 05:40:21 PM
At least for now this is a good thing, especially because the taxes we pay the government takes and spends unnecessarily to enrich themselves and everyone in their family. I see that it should be fair that the rich who have big companies also pay the same amount of taxes that a poor person pays, but in my country, the shitty government we have, keeps giving exemptions and reducing the amount of taxes for the rich and big companies. something wrong
It's the same almost everywhere. Taxes don't really affect the rich or poor and we all know why. The ones who are badly affected are the middle-class. None of this will ever change if you ask me.

Crypto gambling sites provide one of the very, very few ways for the middle class to avoid paying taxes.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: iv4n on September 17, 2023, 05:54:58 PM
So, question to you, did you ever consider paying taxes on your gambling winnings, or deduct the taxes with the losses you've created? If not, what is the reasoning behind it?

Well, my country is pretty relaxed for now, and I am not sure if there are some regulations about gambling winnings, except for the national lottery and those scratching cards that we can buy everywhere, but I am not touching them.

The US has some interesting laws, but I wonder how many Americans actually follow these rules... I doubt I will report myself and my gambling winnings just like that!

https://www.talkimg.com/images/2023/09/17/6vIcN.png


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: qwertyup23 on September 17, 2023, 05:59:21 PM
[....]
If not, what is the reasoning behind it?
I hardly make a big bank from gambling on a yearly basis so it doesn't make sense to even add that to the income tax returns. I think authorities should only go after casinos since they rarely end up in a loss. It's probably more costly for them to go after most casual gamblers that don't even keep a record of their wins and losses.

I agree with your statement.

The profit/loss that I have incurred during my whole gambling spree is relatively insignificant that I would had to pay some sort of tax for it to be demandable by the government. Sure, I have won $5-$20 at most and lost way more than what I have betted as a whole. The tax issue in gambling is something that I have overlooked, let alone that I neglected.

Maybe I was ignorant of that time or perhaps the enforceability of our laws is not strictly applied to the point that everything has to be reflected on our tax declarations.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Findingnemo on September 17, 2023, 06:04:09 PM
In my country, I need to report gambling winning as part of my income and about 10% has to be paid as tax but I don't remember the exact figure since I haven't gambled on fiat-based casinos for very long where the winnings will be credited after deducting the tax amounts.
I report the gambling income in the form of capital gains cause that is the highest slab and I am not in much profit so I won't be paying much difference in the fiat value but for a high roller, they need to report depending on their country policies and find loopholes such as exceptions to avoid paying huge lump as tax.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: South Park on September 17, 2023, 06:05:06 PM
I'm researching the topic on how many users actually report their winnings or losses to the tax authority, and from the current research there's a major discrepancy in the processes from country to country;


Quote
#1. Residents of the UK, Canada, and Australia don’t need to pay anything at all, as these governments view this money as the result of good fortune and do not view gambling as a profession. These earnings do not need to be reported, and nothing is owed on them.  
#2. Malta is also pretty simple. Gambling winnings are only taxed if the player is a professional gambler, though this term is not strictly defined, but if you're earning above the "grace amount" of 12950 EUR, you can apply for it.
#3. The US taxes all gambling winnings as income. In fact, there’s even a special form for documenting your gambling wings: Form W-2G. This money is counted towards your yearly income and will be taxed at whatever bracket you fall into at both the state and federal levels. You must keep track of the type of gambling, the amount of the gambling winnings, and the general ratio of the winnings to the wager, as these will all be needed for filing. Conversely, any gambling losses that occur on a real money online casino platform can be tax deductible in an amount up to your total yearly winnings. Losses and winnings must be filed separately and not as a net amount.
Source: EsportsHeadlines.com (https://esportsheadlines.com/esports-earnings-prize-money-taxation-guide/)


Now I'm quite curious how other gamblers are managing this part of the story, if they manage it at all.

So, question to you, did you ever consider paying taxes on your gambling winnings, or deduct the taxes with the losses you've created? If not, what is the reasoning behind it?


Since I do not have any gambling winnings then this point is moot, however at least where I live if I happened to get some profits out of gambling I will need to report that income and pay taxes, however this varies from region to region, so if I happened to win a big amount of money or I developed a strategy that allowed me to win more often than not then I would move to one of those regions so I do not have to pay a single dime to the government in a legal way.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: dezoel on September 17, 2023, 06:21:30 PM
I don't gamble a lot and the reason for that is that gambling is not really legal in my region, you cannot find a land-based casino here, and online gambling platforms are also banned mostly, though there are some local gambling apps where people can make deposits using their digital accounts and gamble that is at a very small level and it isn't equal to big scale gambling that is done on cryptocurrency platforms all around the world.

However, there are some people who gamble with large amounts on these small gambling platforms and they might even manage to win some money every month through that but I really don't think that they actually declare their gambling wins to the tax department only to pay a hefty amount in taxes.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: edmundduke on September 17, 2023, 06:29:09 PM
Generally speaking i think we do not need to pay taxes on gambling here so not an issue. But its a completely different ballgame when it comes to paying taxes on trading. We need to pay taxes on every winning trade, while losses are not counted. So that messes up people a lot
Trading crypto is synonymous to trading stocks and forex so I think it's only normal when gains or losses treated the same way when it comes to tax. Different states have different taxation rules but have you checked if capital losses from stocks or forex are also not deductible from capital gains?

Unfortunately not when trading as a private person. To make them deductable i would need to register a business or something similiar then i could do it. At some point it would probably make sense to operate as a business tho, not sure where the breakpoint in terms of taxes is tho. Would need to calculate


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: BitDane on September 17, 2023, 06:46:15 PM
So, question to you, did you ever consider paying taxes on your gambling winnings, or deduct the taxes with the losses you've created? If not, what is the reasoning behind it?

Gamblers have the responsibility to pay for tax if they are in a profit and in my case, if the annual tally of my gambling activity exceed the threshold of tax exemption then yes.  But so far I haven't got that huge amount yet so I don't need to pay for taxes.  Aside from that, from my activity where I seldom gamble, I do not think that I will ever have to pay taxes for my gambling habit.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: coolcoinz on September 17, 2023, 06:47:16 PM
Of course I am, meaning that I don't pay them :D

I don't play with high stakes and I don't win large amounts of money, but I'm against taxation of activities where I have no government help and protection and I have to take the risk, but if I happen to win anything the government wants a share.

I truly pity the people who are forced to pay taxes for gambling in some countries.

I pity people who pay crypto taxes at all.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Hispo on September 17, 2023, 07:39:43 PM
I have read on how rough and insane taxes in the United State can be, but... keeping a yearly track of your wager, losses and also earnings from gambling? That is whole new level. I could barely to keep track of my wager for 3 months.

So in order for someone to legally gamble and do not lose track of the numbers they are supposed to write down on their tax declaration,they must use some tool like a spreadsheet or some special software for gamblers who live in the USA...

Even though, one could initially like the idea of a system which do not tax gamblers, like the UK does. Undoubtedly, money for the government to function must come from somewhere.

Good for those who live in tax free jurisdictions. 


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Lida93 on September 17, 2023, 07:50:53 PM
]
Now I'm quite curious how other gamblers are managing this part of the story, if they manage it at all.

So, question to you, did you ever consider paying taxes on your gambling winnings, or deduct the taxes with the losses you've created?
Those who will be managing this  can only be those gamblers that live in a country that gambling winnings are taxed, for those gambling whose countries doesn't tax gambling winnings they have nothing to manage in this subject.

As a citizen of a country I understand how essential tax is all embracing to the well-being of a country so therefore paying my gambling tax for my winnings shouldn't be something done under consideration but a necessity but unfortunately taxes ain't taxed from gambling winnings from gamblers in my country.
Quote
If not, what is the reasoning behind it?
Because my country doesn't tax gambling winnings. Taxes on gambling is taxed from the gambling company not the gambler.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: dothebeats on September 17, 2023, 08:52:07 PM
The Philippines doesn't have an entirely laid out framework for taxing gambling activities. All I know is that the government is not actively seeking for gamblers to file their winnings, losses, or whatever expenditures related to gambling for tax purposes. I myself have been gambling using crypto for more than 6 years and haven't been reprimanded by the tax office to file the necessary documents and get cleared from tax. I know they will just categorize gambling winnings to capital gains, and I do hope that they do not because it is extremely high.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Odusko on September 17, 2023, 09:17:52 PM
Who reports gambling winning to the authorities any ways, in countries where gambling is not licensed and are run by none state actors, it winning becomes untaxable and that is the current situation with gambling and taxation in my country, Italy may have different regulations altogether since gambling is licensed and regulated in that country, but even for that reason there will still be some form of tax evasion since is the gambler that reports his winning to the tax office instead of having the tax automatically deducted before payout on winning.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: goaldigger on September 17, 2023, 09:18:52 PM
I'm researching the topic on how many users actually report their winnings or losses to the tax authority, and from the current research there's a major discrepancy in the processes from country to country;
This is also why many regulations are strict with the casinos since most of the players are not reporting their income with casinos. Personally, I’m not reporting this since the amount is not that big and I’m just an occasional gambler and i spend right away most of my winnings. Some Country have a strict monitoring team and if you get caught for sure you’ll be in big trouble.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: TimeTeller on September 17, 2023, 09:28:08 PM
I'm researching the topic on how many users actually report their winnings or losses to the tax authority, and from the current research there's a major discrepancy in the processes from country to country;
This is also why many regulations are strict with the casinos since most of the players are not reporting their income with casinos. Personally, I’m not reporting this since the amount is not that big and I’m just an occasional gambler and i spend right away most of my winnings. Some Country have a strict monitoring team and if you get caught for sure you’ll be in big trouble.

And if you are using crypto casinos and bookies, I don't think the government would know about that.
This is why most crypto gamblers don't bother to report such winnings, unless, your government is strictly implementing about the submission of your gambling transactions.
Where I live, only government lottery operations that I know are being taxed for certain amount of winnings.
And if you go inside a land-based casino, I don't think the player himself will be taxed. But of course, the business itself is being taxed by the government.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: mirakal on September 17, 2023, 09:37:47 PM
I don’t even have remarkable winnings from gambling so I can tell that I’m not paying taxes with my gambling habits. And if ever I won huge amount, most likely from lottery, the organization itself already deduct an amount intended to pay for the tax. So I don’t pay it personally since the prize amount has already been reduced probably by 20% out of my whole winning amount.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Jemzx00 on September 17, 2023, 11:16:11 PM
Now I'm quite curious how other gamblers are managing this part of the story, if they manage it at all.

So, question to you, did you ever consider paying taxes on your gambling winnings, or deduct the taxes with the losses you've created? If not, what is the reasoning behind it?
Tax code in my country which is the Philippines is pretty vague when it comes to gambling winnings, although it says that if my winnings are around 200 USD below are taxed at 10% while anything above would be taxed at 20% pretty big to be honest and this is the first time that I've known of this because I don't think the Revenue Service in my country hasn't been on my ass yet for taxes regarding gambling winnings, I only play poker though so it's possible casinos and lottery wins are a different thing.
Tax codes at the Philippines are not quite good and strict compared to other country especially the US. BIR or IRS on other country aren't gonna be on your ass if you're not super rich and you won't even feel them. But still there's a lot of regulation and policy as to how much are taxable to your winnings as it varies depending on the amount of your winnings.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: serjent05 on September 17, 2023, 11:33:30 PM
Of course I am, meaning that I don't pay them :D

I don't play with high stakes and I don't win large amounts of money, but I'm against taxation of activities where I have no government help and protection and I have to take the risk, but if I happen to win anything the government wants a share.

I truly pity the people who are forced to pay taxes for gambling in some countries.

I pity people who pay crypto taxes at all.

If being tax efficient with our gambling habits is not letting a single dollar of the winnings go to tax then I think I am also tax efficient with my gambling habits.  ;D  I don't plan to give tax to my winnings because it will only go to the pocket of the corrupt officials of my country.  I would rather enjoy the amount than let these corrupt people enjoy the fruits of my gambling activities.

I truly pity the people who are forced to pay taxes for gambling in some countries.

I pity people who pay crypto taxes at all.

It is a good thing that my country had yet to implement a taxation on cryptocurrency.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: AmoreJaz on September 17, 2023, 11:40:11 PM
I don’t even have remarkable winnings from gambling so I can tell that I’m not paying taxes with my gambling habits. And if ever I won huge amount, most likely from lottery, the organization itself already deduct an amount intended to pay for the tax. So I don’t pay it personally since the prize amount has already been reduced probably by 20% out of my whole winning amount.

i believe, this tax compliance depends on the country you are in. some are strict, some are too lenient. so much better to know your government protocols when it comes to online gambling.
but as far as i know, most govt run lottery programs deduct certain percentage of tax depending on the amount of your winnings.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Nrcewker on September 18, 2023, 01:18:11 AM
Are we talking about crypto gambling which we do online or physical gambling which we do at physical casinos? Because due the to decentralised nature of cryptos, no person or organisation can know that how much money you have made from gambling. Hence you are saved from paying unnecessary taxes. On the other hand, if you are gambling at a physical casino, then they will have certain rules regarding the taxes and fees. Moreover I am highly doubting that any person gambling with cryptocurrencies will be paying taxes to the government every year.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Oasisman on September 18, 2023, 01:47:40 AM
In my country the lottery winners that won over $200 they are already automatically deducted with 20% tax on it meaning you wont received your full winnings because it was already deducted 20% in that shop and they are the one who will remit it to the tax department.

The lottery part was always interesting, every country has some type of "national" lottery and usually that framework is automatically (and heavily) taxed. If someone wins a million on the lottery, they don't even get a chance to get the whole amount onto their bank account, the tax is automatically deducted before they even get the winnings.

Interesting on the governing bodies' part, but not for the ones who purchased the ticket. 20% is such a huge chunk of from the winning amount you have. $200k is such a great amount of money if you hit a million dollar jackpot. There's no way you'll get rid of the imposed tax in lottery because the facility who handles it will deduct it themselves for you. So, that's kind of one of the major negative side of winning from lottery.
While winning in the casino on the other hand will not require you to pay anything for taxes, since there's nothing on paper officially stating/documented or that proves you've won a certain amount.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: noorman0 on September 18, 2023, 02:35:25 AM
In my country the lottery winners that won over $200 they are already automatically deducted with 20% tax on it
Funny, do they also charge tax on lottery ticket purchases?

I'm also curious whether gamblers benefit from the taxes they pay especially on winnings? As far as I know, gamblers don't take much financial benefit from government facilities, for example there is no loss insurance. If everywhere there is a refusal to pay taxes for gambling or even disagreement with the winnings tax policy, I think that is normal.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: lienfaye on September 18, 2023, 02:54:35 AM
Are we talking about crypto gambling which we do online or physical gambling which we do at physical casinos? Because due the to decentralised nature of cryptos, no person or organisation can know that how much money you have made from gambling. Hence you are saved from paying unnecessary taxes. On the other hand, if you are gambling at a physical casino, then they will have certain rules regarding the taxes and fees. Moreover I am highly doubting that any person gambling with cryptocurrencies will be paying taxes to the government every year.
Indeed. Playing online saves a gambler from paying tax (well at least here) because the Government is not aware how much winnings or losses you spent for the particular casino especially if you're using crypto. So there's no way they can charge me, but this is not the case on land based casino.

Let's say you play lottery and able to win a jackpot. Before you'll get your money, necessary charges are already deducted so it's automatically reflected on how much you can only get in your winning amount. In land based casino here, the tax for $200 below is 10% and 20% if more than that amount. But this is only applicable for physical casino and not for online casino winnings/losses.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: piebeyb on September 18, 2023, 05:33:04 AM
I don’t even have remarkable winnings from gambling so I can tell that I’m not paying taxes with my gambling habits. And if ever I won huge amount, most likely from lottery, the organization itself already deduct an amount intended to pay for the tax. So I don’t pay it personally since the prize amount has already been reduced probably by 20% out of my whole winning amount.
Yes, if it's legal, I think you will definitely deduct tax on your winnings, but if it's illegal, maybe you don't have to pay tax because it's clearly illegal, so it will be a problem if you pay tax and say you're a gambler, actually this depends on the country, whether it's a lottery or other gambling is legal or illegal, if it is legal I believe that your lottery winnings will definitely be taxed by the organizer or organization you are referring to.

I probably won't pay taxes on my gambling winnings because in my country gambling and lotteries are illegal so it would be nice to keep all my gambling profits for investment or use my gambling winnings for fun, so no need to pay taxes for countries that consider gambling and the lottery is illegal, besides I'm just like you never get a big win so why think about paying taxes  ;D


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Stedsm on September 18, 2023, 05:57:45 AM
The best way is to stay away from doing anything to the sleeping giant (lion) or else you may get f**ked up by the government. TBH I don't report anything because the taxes are way too high here in my country, but yeah I do pay taxes (but I don't show that I gamble and make/lose some money). However, I'm hardly gambling these days due to limited funds on hands so I keep myself under control and only gamble once a month or sometimes in 2 months.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: traderethereum on September 18, 2023, 06:53:17 AM
I don't pay taxes on my gambling winnings, especially since I gamble at crypto casinos where I don't deposit money from my bank account.
It seems that, even though people gamble using fiat, they also don't pay taxes, regardless of whether they win or lose, but maybe the government will ask them to pay taxes.
But even if there is a tax that will be imposed on me, I don't think the tax will be big because I have never won big from gambling ;D
Usually, if we get income from our work, the government will ask us to pay income tax, where the tax money will be used for the benefit of the citizens and the country.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Haunebu on September 18, 2023, 07:15:00 AM
Usually, if we get income from our work, the government will ask us to pay income tax, where the tax money will be used for the benefit of the citizens and the country.
Come on! Do you seriously believe that? Most of our tax money goes directly into the pockets of greedy, pathetic politicians while a small portion of it is used for the welfare of citizens.

This happens in almost every country which is why protests regarding this issue happen regularly.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Fivestar4everMVP on September 18, 2023, 07:26:22 AM

So, question to you, did you ever consider paying taxes on your gambling winnings, or deduct the taxes with the losses you've created? If not, what is the reasoning behind it?

To be honest, I've never, I and honestly do not see any reason to, I pay taxes from my business already, gambling is not a business, it's just one of the ways of having fun, I do not see any reason why I should also pay taxes on my wins when I already do pay taxes from my business..

And besides, I do not see any positive thing the government of my country are doing with our taxes other than we making more funds available for them to loot, I am even making plans and preparing to stop paying taxes completely, because over here in Nigeria, we just have criminals as rulers, like I said before, our taxes is what they spend for useless travels, buying expensive cars, buying expensive mansions outside the country, while the masses who pay the taxes they use to get good live for themselves are left to suffer unbearable hardship with everything becoming more expensive each and every passing day ..

Why on earth should I continue to pay taxes even to the extent of paying taxes from my gambling wins?  , I will never do such.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: swogerino on September 18, 2023, 07:34:43 AM
I'm researching the topic on how many users actually report their winnings or losses to the tax authority, and from the current research there's a major discrepancy in the processes from country to country;


Quote
#1. Residents of the UK, Canada, and Australia don’t need to pay anything at all, as these governments view this money as the result of good fortune and do not view gambling as a profession. These earnings do not need to be reported, and nothing is owed on them.  
#2. Malta is also pretty simple. Gambling winnings are only taxed if the player is a professional gambler, though this term is not strictly defined, but if you're earning above the "grace amount" of 12950 EUR, you can apply for it.
#3. The US taxes all gambling winnings as income. In fact, there’s even a special form for documenting your gambling wings: Form W-2G. This money is counted towards your yearly income and will be taxed at whatever bracket you fall into at both the state and federal levels. You must keep track of the type of gambling, the amount of the gambling winnings, and the general ratio of the winnings to the wager, as these will all be needed for filing. Conversely, any gambling losses that occur on a real money online casino platform can be tax deductible in an amount up to your total yearly winnings. Losses and winnings must be filed separately and not as a net amount.
Source: EsportsHeadlines.com (https://esportsheadlines.com/esports-earnings-prize-money-taxation-guide/)


Now I'm quite curious how other gamblers are managing this part of the story, if they manage it at all.

So, question to you, did you ever consider paying taxes on your gambling winnings, or deduct the taxes with the losses you've created? If not, what is the reasoning behind it?



Luckily I live in a country where gambling taxes are not collected from people who gamble but only from gambling operators and that is how it should be.I don't find it fair at all that when you win money in gambling you should be taxed,we as citizens already pay our taxes from everything,from the house tax,utility bills,salary cut almost in half because of social security/pensions whatever country applies from them and they want even more by taxing gambling winnings,that is really bad to say the least.

Countries who want to tax people who gamble and win do not look fair at all to me as when a gambler loses money they don't cover part of their loses and that should be a fair system,when you win you pay taxes but when you lose the government should cover some of them if they are collecting taxes from you.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Mauser on September 18, 2023, 08:15:50 AM

Now I'm quite curious how other gamblers are managing this part of the story, if they manage it at all.

So, question to you, did you ever consider paying taxes on your gambling winnings, or deduct the taxes with the losses you've created? If not, what is the reasoning behind it?

That's an interesting topic and I haven't really thought about it in much detail. As far as I know there are no tax deductions from gambling losses in my country. Unlike losses from trading that can be offset against future winnings, I think that there are no benefits from gambling losses. To me this seems unfair and this why I don't really focus on the tax issue for my small winnings. As long as I don't deposit larger sums in my bank account there shouldn't be any issue. The tax question becomes more concerning after a big win and I am still waiting for that. I do it very similar to my crypto trading adventures, I would be happy to pay taxes if have the returns to do it. But as long as there is no big profits I don't see paying taxes as a major concern.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Vladv26 on September 18, 2023, 08:21:34 AM
in my country, gambling websites take a percentage of the withdrawal and automatically redirect it to the government in your name. The fact that the whole process is completed by the gambling companies nowadays is great, since in the past years you had to complete a gambling tax form every year and send it to the government. However. there is still work to be done in order to make this process more efficient because we are paying taxes on every particular withdrawal we make even if we are at a loss. Let's say you deposit $1000 on a particular gambling website but you only end up withdrawing $500 at the end of your session, this puts you at a loss therefore you shouldn't have to pay any taxes to the government since you haven't produced any profit/income. In my opinion, I believe taxes should only be paid as long as you are actually making profits from gambling and in that case, it can be classified as income. It is not fair to pay taxes just to withdraw the money I have deposited, especially if I am also at a loss.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: 3kpk3 on September 18, 2023, 10:41:03 AM
Gamblers have the responsibility to pay for tax if they are in a profit and in my case, if the annual tally of my gambling activity exceed the threshold of tax exemption then yes.  But so far I haven't got that huge amount yet so I don't need to pay for taxes.  
Interesting. You are one of the very, very few people on this planet who is actually willing to pay gambling related taxes voluntarily since most people including me share the completely opposite opinion.

Gamblers shouldn't be taxed for their gambling activities, but the house should be taxed a certain amount.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: 348Judah on September 18, 2023, 10:57:06 AM
I'm researching the topic on how many users actually report their winnings or losses to the tax authority, and from the current research there's a major discrepancy in the processes from country to country;


Quote
#1. Residents of the UK, Canada, and Australia don’t need to pay anything at all, as these governments view this money as the result of good fortune and do not view gambling as a profession. These earnings do not need to be reported, and nothing is owed on them.  
#2. Malta is also pretty simple. Gambling winnings are only taxed if the player is a professional gambler, though this term is not strictly defined, but if you're earning above the "grace amount" of 12950 EUR, you can apply for it.
#3. The US taxes all gambling winnings as income. In fact, there’s even a special form for documenting your gambling wings: Form W-2G. This money is counted towards your yearly income and will be taxed at whatever bracket you fall into at both the state and federal levels. You must keep track of the type of gambling, the amount of the gambling winnings, and the general ratio of the winnings to the wager, as these will all be needed for filing. Conversely, any gambling losses that occur on a real money online casino platform can be tax deductible in an amount up to your total yearly winnings. Losses and winnings must be filed separately and not as a net amount.
Source: EsportsHeadlines.com (https://esportsheadlines.com/esports-earnings-prize-money-taxation-guide/)


Now I'm quite curious how other gamblers are managing this part of the story, if they manage it at all.

So, question to you, did you ever consider paying taxes on your gambling winnings, or deduct the taxes with the losses you've created? If not, what is the reasoning behind it?

I believe we all should appear with our individual comments here wilth maximum honesty, there's this certainty that any existing regulated gambling platform has its own means of paying their tax to the government, but to the gambler's part, I don't think many can afford paying tax with having considerations on various reasons not to do so which some gamblers will hold into.

1. The gamblers would believe that the gambling platforms are paying tax and there's no need of them paying which means they believe they would have deducted tax from their winning amount before issuance.

2. Some could believe that since not all gambling platforms are regulated they also can go away with that when they win and didn't pay tax.

3. If the gamblers consider the rate of looses over the winning they made, the losses might not be enough as well to cover up for the winning not to talk of paying tax.

4. The gamblers could also concluded from their own mind that gambling is not a taxable source of income and therefore take it as their own advantage for not paying tax.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: bayu7adi on September 18, 2023, 11:32:59 AM
Countries who want to tax people who gamble and win do not look fair at all to me as when a gambler loses money they don't cover part of their loses and that should be a fair system,when you win you pay taxes but when you lose the government should cover some of them if they are collecting taxes from you.
The government appears to be inequitable with analogies of this nature. Furthermore, instances of tax corruption are distressingly prevalent in several countries.

I find no compelling reason to report gambling winnings to the government, as it is the casinos that should bear the tax burden. Gamblers already assume their own risks when engaging in gaming, and it is patently unfair if taxes are imposed solely on the exceedingly rare instances of victory. At the very least, the government should take into account players' losses, not just their winnings.

Moreover, regulations surrounding gambling in my country remain somewhat taboo. Hence, I tend to favor online gambling on platforms that allow deposits using cryptocurrencies.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Fivestar4everMVP on September 18, 2023, 12:40:09 PM
Countries who want to tax people who gamble and win do not look fair at all to me as when a gambler loses money they don't cover part of their loses and that should be a fair system,when you win you pay taxes but when you lose the government should cover some of them if they are collecting taxes from you.
The government appears to be inequitable with analogies of this nature. Furthermore, instances of tax corruption are distressingly prevalent in several countries.

I find no compelling reason to report gambling winnings to the government, as it is the casinos that should bear the tax burden. Gamblers already assume their own risks when engaging in gaming, and it is patently unfair if taxes are imposed solely on the exceedingly rare instances of victory. At the very least, the government should take into account players' losses, not just their winnings.

Moreover, regulations surrounding gambling in my country remain somewhat taboo. Hence, I tend to favor online gambling on platforms that allow deposits using cryptocurrencies.
Very well spoken my friend, I am just here imagining why would I ever want to report my gambling winning to the government in order to be taxed, and I have found no reason, absolutely no reason at all.

Aside from the fact that I personally come from a country filled with corruption, and all this corruptions are done with tax payers money just like I explained in my previous comment..

Another thing to think about is, imagine someone started  gambling with the sum of $500, but then lost the whole money, and in the next week, he or she deposits $100 and manages to win $150, it is nothing but foolishness for such person to go reporting to the government to be taxed on a supposed $50 profit, meanwhile he or she lost $500 the previous week ..

This is the situation of several gamblers currently, we have lost far more than we have ever won, the little wins can only be a compensation for the large amount that's been lost, no way should it be taxed, and besides, gambling is not a business, businesses are the ones required to taxes, which means casinos are the ones that should be taxed not the gamblers .


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: macson on September 18, 2023, 01:42:08 PM
Now I'm quite curious how other gamblers are managing this part of the story, if they manage it at all.

So, question to you, did you ever consider paying taxes on your gambling winnings, or deduct the taxes with the losses you've created? If not, what is the reasoning behind it?
Luckily my country is not like the US which imposes mandatory taxes on its citizens even for gamblers, gambling is legal here but only players who win big are required to pay tax and it will be automatically deducted from the winning players, but with the presence of casinos online crypto, it really makes things easier (taxation will not be able to track transactions via crypto) if i win then i don't need to report it to the state tax authorities, once again in my opinion income tax actually doesn't have to be mandatory, it's more of an ethical nature.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Wiwo on September 18, 2023, 01:57:45 PM
Now I'm quite curious how other gamblers are managing this part of the story, if they manage it at all.

So, question to you, did you ever consider paying taxes on your gambling winnings, or deduct the taxes with the losses you've created? If not, what is the reasoning behind it?
Luckily my country is not like the US which imposes mandatory taxes on its citizens even for gamblers, gambling is legal here but only players who win big are required to pay tax and it will be automatically deducted from the winning players, but with the presence of casinos online crypto, it really makes things easier (taxation will not be able to track transactions via crypto) if i win then i don't need to report it to the state tax authorities, once again in my opinion income tax actually doesn't have to be mandatory, it's more of an ethical nature.
Most countries around the world have some level of tax friendness in the sense that the right to declare the amount you earn from gambling is all left in your hands,  this is why,  is the gambler who most report his winning to the tax office otherwise he will go on tax free, this is how most of the online activities and earning go on taxed in most cases.

For the fact that country does not issue licences to casinos,  makes it easy for gambling earnings to be untaxed.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: bitbollo on September 18, 2023, 02:06:49 PM
in Italy winnings are taxed centrally automatically directly by the bookmaker when they pay a win.
But isn't enough. In some cases people have to declare such wins (like people that get subsides).
If it wasn't enough, now authorities also do cross-checks with tax declarations since above certain figures (2000 euros) you necessarily have to indicate this earning. of course just another way to tax people earning.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Pingrapole on September 18, 2023, 02:07:26 PM
I think every citizen should be efficient in paying tax along with gambling because the government is protecting us with social security by tags so cheating here means cheating the country Taxes must be paid the way you earn money.In gambling, it is normal to win one day and lose one day, but the text must be given.Gambling is openly illegal in my country, so I have never played but if I do, i will pay tax no matter the loss.Developed world countries do different things on all kinds of tides because it is a big part of government But in those states where gambling is illegal, texting may not be necessary If you give, you will be in danger
I must consider so that the tag should be given if lost or whatever.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Maslate on September 18, 2023, 02:12:49 PM
In my understanding, we typically pay taxes on our income. I also understand that sometimes we win in gambling, but does this automatically count as income? Perhaps we can consider the net income, taking into account both winnings and losses. Most gamblers probably end up losing more than they win since many of us don't consistently account for our losses.

I might be fortunate because in our country, taxes on gambling winnings aren't required. The government won't pursue you if you win in gambling, but if you voluntarily choose to file for income tax on such earnings, they will accept it.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: dimonstration on September 18, 2023, 02:22:02 PM
In my understanding, we typically pay taxes on our income. I also understand that sometimes we win in gambling, but does this automatically count as income? Perhaps we can consider the net income, taking into account both winnings and losses. Most gamblers probably end up losing more than they win since many of us don't consistently account for our losses.


Income taxes is different to gambling taxes. All profit made from gambling should have a separate taxes since it’s not part of your income and it’s a different category. It’s same when you are purchasing food and other services which the government charge VAT.

I might be fortunate because in our country, taxes on gambling winnings aren't required. The government won't pursue you if you win in gambling, but if you voluntarily choose to file for income tax on such earnings, they will accept it.

If they accept tax when you pay voluntarily then it’s required by the law or else they decline your tax payment. Probably the enforcement of tax regulations is not strict to your country that’s why you manage to don’t pay gambling taxes. But you surely committing tax evasion by not paying tax once someone from government audit you.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Ziskinberg on September 18, 2023, 02:26:47 PM
I might be fortunate because in our country, taxes on gambling winnings aren't required. The government won't pursue you if you win in gambling, but if you voluntarily choose to file for income tax on such earnings, they will accept it.

If they accept tax when you pay voluntarily then it’s required by the law or else they decline your tax payment. Probably the enforcement of tax regulations is not strict to your country that’s why you manage to don’t pay gambling taxes. But you surely committing tax evasion by not paying tax once someone from government audit you.

That's the issue; it's likely that tax enforcement isn't very strict. In some countries, this laxity allows taxpayers to easily evade their taxes, and if they're caught, they can often pay their way out of potential lawsuits. When a country is corrupt, it can't fully benefit from taxes because a portion of those taxes ends up in the pockets of corrupt officials.

I believe it varies from one country to another; corrupt countries tend to have weaker enforcement.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: topbitcoin on September 18, 2023, 04:32:31 PM
In the country I live in, gambling is still illegal and contrary to existing laws and government regulations. And legalizing gambling is my personal hope so that I can play in peace because it does not conflict with existing laws. However, when gambling is legal in my country, inevitably I have to pay taxes on the gambling activities that I do. The purpose of implementing taxes is nothing more than to control and limit people who join in gambling so that those who don't have enough money and minors who don't have income have to think twice when they want to gamble because there is a tax they have to pay. And even though I rarely get wins and profits in gambling, because gambling is part of my enjoyment, I prefer to pay taxes so that I can be calm in gambling because it is not against the law.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: o48o on September 18, 2023, 05:38:42 PM
-cut-
So, question to you, did you ever consider paying taxes on your gambling winnings, or deduct the taxes with the losses you've created? If not, what is the reasoning behind it?
Not i only consider, but i do pay my taxes for gains. It would be a rude awakening to find out that you are being accused of tax fraud. Sentences for it are pretty bad and most likely you couldn't make enough profits to pay your way out of jail, as they would charge interest as well.

Even if you have avoided taxes so far, you should consider the fact that they might catch you later on for years of tax fraud.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: darkangel11 on September 18, 2023, 05:40:50 PM
Countries who want to tax people who gamble and win do not look fair at all to me as when a gambler loses money they don't cover part of their loses and that should be a fair system,when you win you pay taxes but when you lose the government should cover some of them if they are collecting taxes from you.
The government appears to be inequitable with analogies of this nature. Furthermore, instances of tax corruption are distressingly prevalent in several countries.

I find no compelling reason to report gambling winnings to the government, as it is the casinos that should bear the tax burden. Gamblers already assume their own risks when engaging in gaming, and it is patently unfair if taxes are imposed solely on the exceedingly rare instances of victory. At the very least, the government should take into account players' losses, not just their winnings.

Moreover, regulations surrounding gambling in my country remain somewhat taboo. Hence, I tend to favor online gambling on platforms that allow deposits using cryptocurrencies.

Exactly. In my country they burden me with VAT anyway, so even if I win something and decide to turn it into goods and services I get charged tax on top of it. Gambling isn't a job that gives me steady income, but a risk that I alone take and if it happens that this risk pays up, I have the house edge and sometimes withdrawal fees to deal with. Trying to get a part of that and claim that it's my income is pure theft, nothing else.
I don't have to pay in my country, but if I were in another one that taxes this, I wouldn't pay.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: noormcs5 on September 18, 2023, 05:58:40 PM
I'm researching the topic on how many users actually report their winnings or losses to the tax authority, and from the current research there's a major discrepancy in the processes from country to country;


Well, most people would not tell the tax authority that they are gambling or that they have made that much money which needs to be taxed. This becomes more common in countries where gambling is prohibited and people only gamble at online sites. Think for a moment, that gambling is restricted in your country and you tell your tax authorities that you made that much money through gambling. No one can declare this income and it happens in mostly underdeveloped countries where laws may not be strict.

If the laws of your country are strict, then only people will pay taxes on their gambling income.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Agbe on September 18, 2023, 06:07:02 PM
It will be very hard for gamblers to pay tax so it is better for the casino company to pay the tax that collect the tax from the gamblers indirectly. Why I said indirect because poor gamblers do not like to pay tax because they are there to look for their daily meat and if a casino try to tax them directly they won't agree for that. Though the rich gamblers can pay their tax directly because they have enough to gamble and pay the tax but that is contrary to the poor gamblers which is more in the gambling field. Therefore tax efficiency can not found in the lower class gamblers but can be in the middle and upper class gamblers.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: WatChe on September 18, 2023, 06:20:43 PM
It will be very hard for gamblers to pay tax so it is better for the casino company to pay the tax that collect the tax from the gamblers indirectly. Why I said indirect because poor gamblers do not like to pay tax because they are there to look for their daily meat and if a casino try to tax them directly they won't agree for that. Though the rich gamblers can pay their tax directly because they have enough to gamble and pay the tax but that is contrary to the poor gamblers which is more in the gambling field. Therefore tax efficiency can not found in the lower class gamblers but can be in the middle and upper class gamblers.

I don't know what you mean by poor and rich gamblers. A gambler at the end of day is a gambler whether he win big or lose everything. Don't forget that majority of gamblers lose money at the end of the day and it's the house that's most of the time winner.
As far as tax is concerned it's applicable whenever you have money above a thread hold level set by the local government. So even if you are poor and win big then you are bound to pay tax.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Bushdark on September 18, 2023, 07:22:54 PM
It will be very hard for gamblers to pay tax so it is better for the casino company to pay the tax that collect the tax from the gamblers indirectly. Why I said indirect because poor gamblers do not like to pay tax because they are there to look for their daily meat and if a casino try to tax them directly they won't agree for that. Though the rich gamblers can pay their tax directly because they have enough to gamble and pay the tax but that is contrary to the poor gamblers which is more in the gambling field. Therefore tax efficiency can not found in the lower class gamblers but can be in the middle and upper class gamblers.
Gamblers that can easily pay tax are those that are living in a country where tax payment are very crucial to the government and they don't leave a gap for anyone to sneak from tac payment. In some of the countries that don't have a strict rules on tax payment, they can easily sneak tax and go about there regular gambling because it is very difficult for the government to know who is paying there tax or not especially when they gambler and make winnings. The casinos are the ones the government do hold responsible for the payment of tax and not individually because it would be very difficult to achieve.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Agbe on September 18, 2023, 07:34:02 PM
I don't know what you mean by poor and rich gamblers. A gambler at the end of day is a gambler whether he win big or lose everything. Don't forget that majority of gamblers lose money at the end of the day and it's the house that's most of the time winner.
As far as tax is concerned it's applicable whenever you have money above a thread hold level set by the local government. So even if you are poor and win big then you are bound to pay tax.
Hey dude all gamblers are not equal even though they all loss and win. There are some gamblers that gamble without fear because of losing and also thinking of what to eat when they get home while the others tremble when gambling and thinking of what to eat and these are the two classes of gamblers. Which are the poor and the rich. The rich gamblers pay tax easily than the poor gamblers.

It will be very hard for gamblers to pay tax so it is better for the casino company to pay the tax that collect the tax from the gamblers indirectly. Why I said indirect because poor gamblers do not like to pay tax because they are there to look for their daily meat and if a casino try to tax them directly they won't agree for that. Though the rich gamblers can pay their tax directly because they have enough to gamble and pay the tax but that is contrary to the poor gamblers which is more in the gambling field. Therefore tax efficiency can not found in the lower class gamblers but can be in the middle and upper class gamblers.
Gamblers that can easily pay tax are those that are living in a country where tax payment are very crucial to the government and they don't leave a gap for anyone to sneak from tac payment. In some of the countries that don't have a strict rules on tax payment, they can easily sneak tax and go about there regular gambling because it is very difficult for the government to know who is paying there tax or not especially when they gambler and make winnings. The casinos are the ones the government do hold responsible for the payment of tax and not individually because it would be very difficult to achieve.
Exactly, tax efficiency can work well in the country where tax is compulsory for all to pay and not in a country that tax is heavily on the manufacturing Companies and other mega multinational companies. Mostly in my country we don't experience direct tax but indirect tax.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: pixie85 on September 18, 2023, 08:57:30 PM
Usually, if we get income from our work, the government will ask us to pay income tax, where the tax money will be used for the benefit of the citizens and the country.
Come on! Do you seriously believe that? Most of our tax money goes directly into the pockets of greedy, pathetic politicians while a small portion of it is used for the welfare of citizens.

This happens in almost every country which is why protests regarding this issue happen regularly.

That's true unfortunately.
Tax laws are made by abusers that later take our money and spend them on legislation so that they can take pass new laws and take even more of it. The government has a monopoly on lawful theft.

Yes I'm pretty efficient with my taxes. Sometimes I even manage to avoid paying them altogether. :D
I live in a place where I don't have to pay tax on my bitcoin, so my profits from crypto casinos are exempt as long as I gamble using the one and only king of digital assets.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: goldkingcoiner on September 18, 2023, 09:51:34 PM
I'm researching the topic on how many users actually report their winnings or losses to the tax authority, and from the current research there's a major discrepancy in the processes from country to country;

~snip

So, question to you, did you ever consider paying taxes on your gambling winnings, or deduct the taxes with the losses you've created? If not, what is the reasoning behind it?



Honestly, I would have to say that I am not tax efficient, at all. At least, not when it comes to gambling.

As far as I understand it, gambling losses cannot be deducted fully in my country (or perhaps only certain kinds of losses but not other types can be deducted... I am not sure about the way it works). I only gamble for fun with small amounts of money in the first place. I do not wish to hire a tax consultant merely to save up on a few dollars. I am not interested in deducting my meager gambling losses from my taxes. It is not really worth the time to me.

Now if I ever win a gigantic sum of money, I will think about whether or not I want to hire a tax consultant to tell me on how to keep most of my money. ::)


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: traderethereum on September 19, 2023, 04:46:19 AM
Usually, if we get income from our work, the government will ask us to pay income tax, where the tax money will be used for the benefit of the citizens and the country.
Come on! Do you seriously believe that? Most of our tax money goes directly into the pockets of greedy, pathetic politicians while a small portion of it is used for the welfare of citizens.

This happens in almost every country which is why protests regarding this issue happen regularly.
Of course not ;D
Those are just words that I often hear from the government and we as a society can only nod our heads because we already understand that those are just sweet words from them.
This has happened everywhere. They even commit corruption just to buy luxury goods and then show them on their social media page.
We as a society cannot do anything and just follow the rules of paying taxes while not knowing the actual allocation of tax money.
And thankfully, there are no taxes related to gambling so people who gamble don't pay taxes.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Porfirii on September 19, 2023, 05:04:22 AM
Usually, if we get income from our work, the government will ask us to pay income tax, where the tax money will be used for the benefit of the citizens and the country.
Come on! Do you seriously believe that? Most of our tax money goes directly into the pockets of greedy, pathetic politicians while a small portion of it is used for the welfare of citizens.

This happens in almost every country which is why protests regarding this issue happen regularly.
Of course not ;D
Those are just words that I often hear from the government and we as a society can only nod our heads because we already understand that those are just sweet words from them.
This has happened everywhere. They even commit corruption just to buy luxury goods and then show them on their social media page.
We as a society cannot do anything and just follow the rules of paying taxes while not knowing the actual allocation of tax money.
And thankfully, there are no taxes related to gambling so people who gamble don't pay taxes.

I wonder where you all live, because it is important in order to know whether you are right or just paranoid. There are countries where public money is really well controlled and, unlike decades ago, corrupts (the exception) end in jail.

For example, cases like Norway are paradigmatic: Norwegians don't only happily pay more than half of their salary in taxes (and happily because they do know that the money will be well used), but in cases like the 2008 crash, instead of rescuing the banks with public money, corrupt bankers went to jail, too.

I think that Europe is moving in this line, too (although the landscape varies a lot from country to country). But, for the rest of the world, you may be right, unfortunately.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: stadus on September 19, 2023, 05:14:38 AM
Usually, if we get income from our work, the government will ask us to pay income tax, where the tax money will be used for the benefit of the citizens and the country.
Come on! Do you seriously believe that? Most of our tax money goes directly into the pockets of greedy, pathetic politicians while a small portion of it is used for the welfare of citizens.

This happens in almost every country which is why protests regarding this issue happen regularly.
Of course not ;D
Those are just words that I often hear from the government and we as a society can only nod our heads because we already understand that those are just sweet words from them.
This has happened everywhere. They even commit corruption just to buy luxury goods and then show them on their social media page.
We as a society cannot do anything and just follow the rules of paying taxes while not knowing the actual allocation of tax money.
And thankfully, there are no taxes related to gambling so people who gamble don't pay taxes.

I wonder where you all live, because it is important in order to know whether you are right or just paranoid. There are countries where public money is really well controlled and, unlike decades ago, corrupts (the exception) end in jail.

For example, cases like Norway are paradigmatic: Norwegians don't only happily pay more than half of their salary in taxes (and happily because they do know that the money will be well used), but in cases like the 2008 crash, instead of rescuing the banks with public money, corrupt bankers went to jail, too.

I think that Europe is moving in this line, too (although the landscape varies a lot from country to country). But, for the rest of the world, you may be right, unfortunately.

I would love to live in a country where taxes are effectively utilized. Personally, I don't mind paying taxes or any new taxes they might implement because I'm confident that I, along with future generations, will benefit from them. However, in some other countries, the situation is different. The government is often controlled by oligarchs—wealthy businessmen who run major businesses in the country. Consequently, their personal interests tend to take precedence in all matters.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Odusko on September 19, 2023, 09:24:01 PM
I don’t even have remarkable winnings from gambling so I can tell that I’m not paying taxes with my gambling habits. And if ever I won huge amount, most likely from lottery, the organization itself already deduct an amount intended to pay for the tax. So I don’t pay it personally since the prize amount has already been reduced probably by 20% out of my whole winning amount.
Same as me also, i have never hard of any big winning that will make me think of taxation, because all the winning that I have experienced combined, is not still up to the money I have lost in gambling so that tax doesn't even occur to me at any point because I see it as a total waste of funds since gambling is not regulated in my country and the government doesn't pay attention to gambling incomes and same with other activities too that are unregulated in my country.
But in countries where gambling is regulated by the government and licensed all winning from gambling will be subject to taxation at the point of settlement of the winning


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Fatunad on September 19, 2023, 09:58:42 PM
I don’t even have remarkable winnings from gambling so I can tell that I’m not paying taxes with my gambling habits. And if ever I won huge amount, most likely from lottery, the organization itself already deduct an amount intended to pay for the tax. So I don’t pay it personally since the prize amount has already been reduced probably by 20% out of my whole winning amount.
Same as me also, i have never hard of any big winning that will make me think of taxation, because all the winning that I have experienced combined, is not still up to the money I have lost in gambling so that tax doesn't even occur to me at any point because I see it as a total waste of funds since gambling is not regulated in my country and the government doesn't pay attention to gambling incomes and same with other activities too that are unregulated in my country.
But in countries where gambling is regulated by the government and licensed all winning from gambling will be subject to taxation at the point of settlement of the winning
Me too, im not really into that level yet on which im already minding about taxation in regarding my gambling spending or winning and since gambling online and offline is allowed in my country then i do already expect that taxes would really be that much implied or would really be that typical to those who had been dealing with it but since crypto gambling platforms had existed then it cant really be possible for something that needs to be traced up and this is the beauty on making use of these platforms. Taxes are the least things that we do really mind about specially if regulations and other related aspects arent really that strict when it comes to this then
it would really be on least of your concern.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: traderethereum on September 20, 2023, 01:53:42 AM
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I wonder where you all live, because it is important in order to know whether you are right or just paranoid. There are countries where public money is really well controlled and, unlike decades ago, corrupts (the exception) end in jail.

For example, cases like Norway are paradigmatic: Norwegians don't only happily pay more than half of their salary in taxes (and happily because they do know that the money will be well used), but in cases like the 2008 crash, instead of rescuing the banks with public money, corrupt bankers went to jail, too.

I think that Europe is moving in this line, too (although the landscape varies a lot from country to country). But, for the rest of the world, you may be right, unfortunately.
But not in other countries where corruption can still move freely and get "deposits" from cases to use for their interests.
It is not surprising that this happens in developed countries where there is a high awareness of paying taxes because the government can use its taxes correctly and well to improve the welfare of its people.
And it can save the country from a crisis that may have hit neighboring countries so that it can still survive the crisis and even rise again.
If developing countries can really use their tax money properly and correctly, their country can progress.
With that tax money, they can develop the potential in their country, including improving the welfare of their people to improve the economy.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Porfirii on September 20, 2023, 05:09:47 AM
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I wonder where you all live, because it is important in order to know whether you are right or just paranoid. There are countries where public money is really well controlled and, unlike decades ago, corrupts (the exception) end in jail.

-snip-
But not in other countries where corruption can still move freely and get "deposits" from cases to use for their interests.
It is not surprising that this happens in developed countries where there is a high awareness of paying taxes because the government can use its taxes correctly and well to improve the welfare of its people.
And it can save the country from a crisis that may have hit neighboring countries so that it can still survive the crisis and even rise again.
If developing countries can really use their tax money properly and correctly, their country can progress.
With that tax money, they can develop the potential in their country, including improving the welfare of their people to improve the economy.

To me, social rights are essential. You mentioned welfare and, according to a study I recently heard of, I strongly believe that in those countries where money is well redistributed the capacity for growth is greater. A country where the poor is poorer can't organically grow. I understand why poor people feel that they are being robbed when they have to pay their taxes and still don't see any benefits.

But we unfortunately live in an era where greediness in the norm. It is clear in the private sector, to the point of putting basic sustainability itself at risk, but the public sector is not any better in many cases, and changing that should be the first step to improve people's quality if life.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: kotajikikox on September 20, 2023, 05:20:32 AM


Now I'm quite curious how other gamblers are managing this part of the story, if they manage it at all.

So, question to you, did you ever consider paying taxes on your gambling winnings, or deduct the taxes with the losses you've created? If not, what is the reasoning behind it?


Not sure how to do it , because like if I play in online casino using crypto and i can easily withdraw the funds without any issue , so not sure where or why need to pay taxes? and I believe i am not going against the law .
but if being asked? of course i will surely bring to tax all my winnings.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: noormcs5 on September 20, 2023, 06:18:12 AM
It will be very hard for gamblers to pay tax so it is better for the casino company to pay the tax that collect the tax from the gamblers indirectly. Why I said indirect because poor gamblers do not like to pay tax because they are there to look for their daily meat and if a casino try to tax them directly they won't agree for that. Though the rich gamblers can pay their tax directly because they have enough to gamble and pay the tax but that is contrary to the poor gamblers which is more in the gambling field. Therefore tax efficiency can not found in the lower class gamblers but can be in the middle and upper class gamblers.

When you say that poor gambler cannot pay the tax, then we should know that not every one has to pay the taxes. Only those who have certain amount on income falls in the tax net. If a gambler is poor, the he would not have that much money on which he need to pay tax and therefore he would be exempted from the tax.

However, if that poor gambler win big amount and he suddenly become rich and have taxable income, then he would be need to give the tax and I think in that case, he should give the tax if it is the requirement from the law of his country.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: cafter on September 20, 2023, 06:30:11 AM
I seen many people who won a big lottery and they need to pay tax for it which is almost 30% of their total winnings and left with other 70% winnings. they can do anything they want after paying 30% tax.
gamblers like us who play with small money and not are professional don't need to worry about taxes until we found a good strategy to win regularly, or win a big lottery or 10000X.
taxes are payed by the casinos, the tax percentage are different at different countries, for my country it is 30% for casinos and players.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: SirJohnVonSlotty on September 20, 2023, 07:50:35 AM
Not sure how to do it , because like if I play in online casino using crypto and i can easily withdraw the funds without any issue , so not sure where or why need to pay taxes? and I believe i am not going against the law .
but if being asked? of course i will surely bring to tax all my winnings.

In general, it shouldn't matter if you're gambling in crypto or fiat, if your winnings are above a certain threshold, and if you're in a country which taxes gambling winnings, then you would need to pay taxes on it.

It's your responsibility to know how much taxes you owe. And if the tax man needs to "ask you", they will not ask kindly :D


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Kasabus on September 20, 2023, 07:53:40 AM
Not sure how to do it , because like if I play in online casino using crypto and i can easily withdraw the funds without any issue , so not sure where or why need to pay taxes? and I believe i am not going against the law .
but if being asked? of course i will surely bring to tax all my winnings.

In general, it shouldn't matter if you're gambling in crypto or fiat, if your winnings are above a certain threshold, and if you're in a country which taxes gambling winnings, then you would need to pay taxes on it.

It's your responsibility to know how much taxes you owe. And if the tax man needs to "ask you", they will not ask kindly :D

Actually, there's a significant difference because not all countries regulate crypto. When it comes to paying taxes on crypto winnings, the challenge lies in explaining those gains. In many cases, authorities might struggle to account for them due to the lack of comprehensive regulations. Essentially, cryptocurrency becomes taxable only when you decide to convert it into traditional currency. However, there are methods such as using a mixer to obscure your transactions, making it difficult for authorities to enforce taxes on unregulated crypto holdings.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Nwada001 on September 20, 2023, 10:49:53 AM
My first question is, does my country even have such a tax law? And what's the point of taxing gamblers when they are already benefiting from the tax that the gambling industry pays to them to maintain their licence? What's the need to do this again?
 
In my country, I don't think such a law exists, and even if it does, it's not taken very seriously because a lot of gamblers are losing more than they are even making at the end of every game, so it will entirely be a waste of time for them to start thinking about how to pay tax for games that they did not win or how to reduce the loss from the gambling tax they are to pay in the coming weeks. It won't really be nice to gamblers, though.
 
Back to how I will deal with such a tax system, if I am a gambler who happens to play bet more often and I notice such a law, I will find it difficult to pay, as that will definitely be a double loss for me because I don't think there is any perfect system that could keep my past record for games that I have played over the years, so my one-time big win, if calculated properly, will not even be enough to cover up all the losses I have encountered during my playing period, so where will I get the money to pay for the tax? And beside, in whatever purchase and game we play, I believe there is a small percentage of tax deductions from the wager amount.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: piebeyb on September 20, 2023, 12:25:25 PM
However, if that poor gambler win big amount and he suddenly become rich and have taxable income, then he would be need to give the tax and I think in that case, he should give the tax if it is the requirement from the law of his country.
If someone is rich because of gambling, of course he will pay taxes, but for example, if he is rich because he won the lottery, maybe the lottery organizer has deducted the tax from the winnings so he doesn't need to pay other taxes for himself, especially for poor people who suddenly get rich in an instant because the lottery may not have to pay any more taxes on itself.

But if you want to pay taxes for yourself and want to fulfill the state's requirements, I don't think there will be a problem as long as you have a lot of money and you can pay it to the state which will be used for all of society, including you in the end, after all, taxes in gambling are quite efficient. and it's not something annoying either.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: xSkylarx on September 20, 2023, 12:33:14 PM
I seen many people who won a big lottery and they need to pay tax for it which is almost 30% of their total winnings and left with other 70% winnings. they can do anything they want after paying 30% tax.
gamblers like us who play with small money and not are professional don't need to worry about taxes until we found a good strategy to win regularly, or win a big lottery or 10000X.
taxes are payed by the casinos, the tax percentage are different at different countries, for my country it is 30% for casinos and players.


So the casinos are paying the tax? How about winning big? like in slots? Is the casino still shouldering it? But I still noticed that no one declared their winnings in the casino so that they wouldn't pay tax, only those lottery winners as I saw in the news that they were receiving this amount as the other percentage was for tax that they needed to pay. Even at an online casino if you win that amount you can get that amount and spend it without declaring it to the tax department.

We are not evading tax but who else wants to pay tax on our winnings? Unless it is really known that you have won big then that is the time when you have no choice but to pay the tax. But if you win in an online casino then I would just withdraw it and spend it on things I want. Just keep quiet about my winnings in the tax department.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Fiatless on September 20, 2023, 12:34:04 PM
Now I'm quite curious how other gamblers are managing this part of the story, if they manage it at all.

So, question to you, did you ever consider paying taxes on your gambling winnings, or deduct the taxes with the losses you've created? If not, what is the reasoning behind it?
In my country gambling companies collect tax on behalf of the government. Taxes are withdrawn from wins but this is only applicable to fiat gambling. In crypto gambling, you are not taxed because there is no policy of crypto tax currently. But I think that gamblers should not be taxed for wins. Gambling is very risky and wins sometimes hardly come. Before you win,  you have lost for a long time. The best approach should be that gamblers will subtract all their losses from the win and the balance should be taxed.  This should be applied in fiat gambling, but crypto wins shouldn't be taxed.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: cafter on September 20, 2023, 01:59:24 PM
snip
In my country, the government also imposes a 30% direct tax on cryptocurrencies and gambling.
I don't know how to pay taxes when I win the game by playing with cryptocurrency. And I don't play with taxable money so i not concerned about it for now.



Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Russlenat on September 20, 2023, 02:25:54 PM
snip
In my country, the government also imposes a 30% direct tax on cryptocurrencies and gambling.
I don't know how to pay taxes when I win the game by playing with cryptocurrency. And I don't play with taxable money so i not concerned about it for now.

What do you mean by 'taxable money'? You mentioned that cryptocurrency and gambling are taxable, so I'm curious about your statement.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: cafter on September 20, 2023, 02:44:25 PM
What do you mean by 'taxable money'? You mentioned that cryptocurrency and gambling are taxable, so I'm curious about your statement.
means playing with very small amounts which i mostly lose in the end.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Doan9269 on September 20, 2023, 02:45:59 PM
snip
In my country, the government also imposes a 30% direct tax on cryptocurrencies and gambling.
I don't know how to pay taxes when I win the game by playing with cryptocurrency. And I don't play with taxable money so i not concerned about it for now.

Paying upto 30% on tax is much for the way i see this on the crypto gambling section, though some gambling platforms can afford such but this may not be affordable by many individual gamblers, having the mentality that some money are taxable while some are not, people will appreciate every efforts in seing that they are able to byepass any form of tax if possible on gambling because there's no particular way they remit the money back to the government, there are other non taxable jobs and source of income we can afford to cope and remain mute about them because there's no direct tax payment on them.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Russlenat on September 20, 2023, 02:51:46 PM
What do you mean by 'taxable money'? You mentioned that cryptocurrency and gambling are taxable, so I'm curious about your statement.
means playing with very small amounts which i mostly lose in the end.


I get it. So you are talking about the ceiling amount in gambling. This means your country taxes you on the amount of money you have gambled if it reaches the ceiling, instead of taxing capital gains or winnings? If that's the case, I think it's anti-gambler. I mean, who would gamble if they have to pay taxes regardless of the outcome of their gambling activity? It's not fun, to be honest.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: LUCKMCFLY on September 20, 2023, 02:54:08 PM
I'm researching the topic on how many users actually report their winnings or losses to the tax authority, and from the current research there's a major discrepancy in the processes from country to country;

~snip

So, question to you, did you ever consider paying taxes on your gambling winnings, or deduct the taxes with the losses you've created? If not, what is the reasoning behind it?



Honestly, I would have to say that I am not tax efficient, at all. At least, not when it comes to gambling.

As far as I understand it, gambling losses cannot be deducted fully in my country (or perhaps only certain kinds of losses but not other types can be deducted... I am not sure about the way it works). I only gamble for fun with small amounts of money in the first place. I do not wish to hire a tax consultant merely to save up on a few dollars. I am not interested in deducting my meager gambling losses from my taxes. It is not really worth the time to me.

Now if I ever win a gigantic sum of money, I will think about whether or not I want to hire a tax consultant to tell me on how to keep most of my money. ::)

Well as far as I'm concerned, at least in the country I live in they don't ask for these types of queries for taxes, I know they're doing a survey, but with those who are Bitcoin miners, they have to subscribe to a government body, so basically when A person does this, it can be reported in a database that they control, so when they register the government can do whatever they want with them, like taking away their machines and anyone who resists basically goes to jail, that's why it's It's not a very good thing to do these fiscal things in the country I live in, meanwhile they're busy with the miners, but they haven't gotten involved with those who are in casinos and do activities there or with those who bring them, because it's very difficult to do so, Unless the brokers provide them with that information.

So in the meantime the geese cannot be seen, like this, the other is that one of the casinos that are normally in the forum provides information to the government, and I don't see it as viable, because no online crypto casino has that option until now So when we make a very arbitrary scheme of everything that casinos can be, what they can become, it is for me one of the things that can always happen, so when we think about doing certain things such as paying a tax for pay in a crypto caisno, I would not do it, because cryto, bitcoin was made to not pay taxes, to be free, and to not be at the mercy of a government or a banking entity so that they take money from them for doing or having fun in a casino, this is something that I don't see well, therefore we, as good people, should not accept something like this, and more so because something that is free we should not let it become a dictatorship, because our finances are what They are going to be affected, while the economy of a government will never be affected, this is the only thing we can do to avoid anything like Paying taxes for crypto.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: tjtonmoy on September 20, 2023, 03:55:38 PM
Gambling is banned in my country, so there isn't any official news about taxing gamblers. Those who gamble, do it secretly and they don't need to pay anything in taxes. So you can say that it is not required here. As it is banned here, there aren't any gambling platforms available here. But people can gamble online through crypto gambling. They don't need to pay anything because the government can identify them. Although they will be punished and not taxed. That's a different story. 

Crypto gambling has opened up many opportunities for people like us who live in a country where gambling is banned.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Yatsan on September 20, 2023, 04:06:21 PM
What do you mean by 'taxable money'? You mentioned that cryptocurrency and gambling are taxable, so I'm curious about your statement.
means playing with very small amounts which i mostly lose in the end.


I get it. So you are talking about the ceiling amount in gambling. This means your country taxes you on the amount of money you have gambled if it reaches the ceiling, instead of taxing capital gains or winnings? If that's the case, I think it's anti-gambler. I mean, who would gamble if they have to pay taxes regardless of the outcome of their gambling activity? It's not fun, to be honest.
It won’t be fun indeed, but if governments would tell us to do so then we’d have to comply with regulations. With web 3.0 they won’t be able to put taxes in every transaction but they could question the amount you would be withdrawing and transferring to your banks which is more likely to happen especially if you’re in a country wherein gambling and crypto industry isn’t widely allowed. They may also used centralized exchanges to help them with taxes and these platforms happened to be preferred by many investors in this industry ‘coz it promotes a better security with other exchanges in particular with funds. But this is how things work for this industry and for years already. Changes might come but for sure it won’t happen in an instant. So for now, compliance is the only option to most of us.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Blitzboy on September 20, 2023, 04:23:02 PM
I seen many people who won a big lottery and they need to pay tax for it which is almost 30% of their total winnings and left with other 70% winnings. they can do anything they want after paying 30% tax.
gamblers like us who play with small money and not are professional don't need to worry about taxes until we found a good strategy to win regularly, or win a big lottery or 10000X.
taxes are payed by the casinos, the tax percentage are different at different countries, for my country it is 30% for casinos and players.


So the casinos are paying the tax? How about winning big? like in slots? Is the casino still shouldering it? But I still noticed that no one declared their winnings in the casino so that they wouldn't pay tax, only those lottery winners as I saw in the news that they were receiving this amount as the other percentage was for tax that they needed to pay. Even at an online casino if you win that amount you can get that amount and spend it without declaring it to the tax department.

We are not evading tax but who else wants to pay tax on our winnings? Unless it is really known that you have won big then that is the time when you have no choice but to pay the tax. But if you win in an online casino then I would just withdraw it and spend it on things I want. Just keep quiet about my winnings in the tax department.
Big win must be reported by casinos to the appropriate tax authorities, particularly in many regulated areas. The casino usually takes out the applicable tax before paying out your winnings when you hit it big on the slots, or any other game for that matter. Keep in mind that casinos are establishments subject to stringent laws.

True, a lot of people don't report lesser wins. That might, however, theoretically be considered tax evasion, which has repercussions. Now, the way that online casinos function varies depends on their location. But being a law-abiding citizen and a prudent gambler is crucial. Seeking advice from a tax professional is usually a smart idea if you have questions regarding your tax obligations. I mean, it's better to be safe than sorry, right?


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: danadc on September 20, 2023, 04:44:09 PM
Not sure how to do it , because like if I play in online casino using crypto and i can easily withdraw the funds without any issue , so not sure where or why need to pay taxes? and I believe i am not going against the law .
but if being asked? of course i will surely bring to tax all my winnings.

In general, it shouldn't matter if you're gambling in crypto or fiat, if your winnings are above a certain threshold, and if you're in a country which taxes gambling winnings, then you would need to pay taxes on it.

It's your responsibility to know how much taxes you owe. And if the tax man needs to "ask you", they will not ask kindly :D

My case is different, I am in a country where they do not require me to pay taxes for playing in a cryptocurrency casino, when I enter a casino that uses local money, that is why I do not think I have to pay a fee, the only thing they ask me for is identification and I enter, in a casino I am not contemplating paying because it would be somewhat silly to ask that they charge me for using cryptocurrencies in a casino, I don't see it well either because freedom would be ending in these things, I believe that the KYC of the casinos is sufficient as For us, paying more just to play in a casino is like paying a tax for having the right to have fun, there is little logic in that.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: pawanjain on September 20, 2023, 04:47:42 PM
snip
In my country, the government also imposes a 30% direct tax on cryptocurrencies and gambling.
I don't know how to pay taxes when I win the game by playing with cryptocurrency. And I don't play with taxable money so i not concerned about it for now.



If you keep gambling with crypto alone then the government will find it difficult to track the transactions.
The problem will arise when you exchange it for fiat. You will have to pay the taxes when you exchange crypto with fiat.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Wiwo on September 20, 2023, 04:55:01 PM
snip
In my country, the government also imposes a 30% direct tax on cryptocurrencies and gambling.
I don't know how to pay taxes when I win the game by playing with cryptocurrency. And I don't play with taxable money so i not concerned about it for now.


The major challenge with cryptocurrency tax is that,  most times you are left with the option of paying the tax by yourself,  and that is why there have been a lot of defaulters and non-payment of income tax on cryptocurrency and gambling winnings.

This failure in payment of tax for those incomes is the fault of the government and not the individuals involved since the government while placing such a 30% tax on gambling winning and cryptocurrency income, failed to develop a mechanism that will make it impossible to default in payments.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: internetional on September 20, 2023, 04:57:35 PM
I currently live in a country where tax residents are not obliged to pay tax if their source of income is abroad and is not related to work the do or services they provide. This country is Georgia.

For people who play in offshore companies or in Web3 DAOs, this country is a tax paradise.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Gozie51 on September 20, 2023, 05:01:06 PM
snip
In my country, the government also imposes a 30% direct tax on cryptocurrencies and gambling.
I don't know how to pay taxes when I win the game by playing with cryptocurrency. And I don't play with taxable money so i not concerned about it for now.


I think paying such amount in tax for gambling winning is on the high and that will have effect on payment because many will evade the tax but if the government is serious about collecting the tax they will through the casino.
So if your government doesn't approve crypto payment, maybe it could be levied through your fiat account but if you actually want to remit your gambling winning tax, you can go to your tax office to enquire.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Wiwo on September 20, 2023, 09:52:44 PM
I currently live in a country where tax residents are not obliged to pay tax if their source of income is abroad and is not related to work the do or services they provide. This country is Georgia.

For people who play in offshore companies or in Web3 DAOs, this country is a tax paradise.
That sound nice,  but I will like to know,  this taxed holidays on international earnings,  is it only applicable to gambling earnings or other activities such as trading and cryptocurrency holdings.

I am sure most of those earnings will have their separate laws and taxation but the fact still remains that,  not many countries have been able to establish a tax regime on gambling earnings or Bitcoin trading and other decentralized assets.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Webetcoins on September 21, 2023, 04:50:52 AM
I seen many people who won a big lottery and they need to pay tax for it which is almost 30% of their total winnings and left with other 70% winnings. they can do anything they want after paying 30% tax.
gamblers like us who play with small money and not are professional don't need to worry about taxes until we found a good strategy to win regularly, or win a big lottery or 10000X.
taxes are payed by the casinos, the tax percentage are different at different countries, for my country it is 30% for casinos and players.
30% is a lot, in my opinion. Imagine you are winning a lottery worth 1 million dollars and you are being charged 30% as tax for that which will take away a whooping $300k from your total winnings. $300k is a very large amount for anyone living in any corner of the world, you can run a very good business with that money in most parts of the world and live your life off of it. So, I would probably feel extremely bad if I had to pay that much money in taxes after a big win.

I think authorities need to lower that percentage a little bit because even if the money is won in gambling, the person who is winning it must have spent a lot of money before this and it might just be a recovery for them but if they are taking away 30% from it, they will be left in a loss once again.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: nimogsm on September 21, 2023, 08:37:34 AM
in my country there is a tax on lotteries of 20% of the winning amount, but it applies only to national lotteries, to various crypto sites and other gambling sites there is no. That is, I don’t have to pay taxes on the winnings if the game was for cryptocurrency, I can then withdraw the winnings to cash without problems.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: irhact on September 21, 2023, 10:48:36 AM
My case is different, I am in a country where they do not require me to pay taxes for playing in a cryptocurrency casino, when I enter a casino that uses local money, that is why I do not think I have to pay a fee, the only thing they ask me for is identification and I enter, in a casino I am not contemplating paying because it would be somewhat silly to ask that they charge me for using cryptocurrencies in a casino, I don't see it well either because freedom would be ending in these things, I believe that the KYC of the casinos is sufficient as For us, paying more just to play in a casino is like paying a tax for having the right to have fun, there is little logic in that.

My case is like yours because I haven't had an experience when my local casino ask me to pay a tax on the amount I want to withdraw because those money are profits that I made gambling using their casino. If the government wants to tax, they should increase the taxes for casino because they're making big profits because of the amount of individuals that use their casino daily and are losing money to them. The casino are making big profits already therefore they should pay for us.

It's not right for we to pay for the fun that we're having when we're gambling using casino, for those countries that their government is taxing their profits, they should protest because it isn't right, will the government pay them compensation when they lose while gambling.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Salahmu on September 21, 2023, 11:36:41 AM
It's not right for we to pay for the fun that we're having when we're gambling using casino, for those countries that their government is taxing their profits, they should protest because it isn't right, will the government pay them compensation when they lose while gambling.
I agree with you we shouldn't pay tax when gambling using casino or better still the government should have a moderate form were as after paying the tax for winning and when we losses there should be some sort of compensation to make it on a equilibrium patterns at least with these it will be a bit fair instead of paying tax on our winnings while the government doesn't care about our loss, but on a serious note the tax payment should have only impose on the casino company and not for the gamblers were as the tax paid by the casino should have covered  for the gamblers as such giving the gamblers tax free Because there are countries that tax only there casino company instead of both casino and the gamblers.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Fivestar4everMVP on September 21, 2023, 11:56:40 AM
It's not right for we to pay for the fun that we're having when we're gambling using casino, for those countries that their government is taxing their profits, they should protest because it isn't right, will the government pay them compensation when they lose while gambling.
I agree with you we shouldn't pay tax when gambling using casino or better still the government should have a moderate form were as after paying the tax for winning and when we losses there should be some sort of compensation to make it on a equilibrium patterns at least with these it will be a bit fair instead of paying tax on our winnings while the government doesn't care about our loss, but on a serious note the tax payment should have only impose on the casino company and not for the gamblers were as the tax paid by the casino should have covered  for the gamblers as such giving the gamblers tax free Because there are countries that tax only there casino company instead of both casino and the gamblers.
Well , I don't know about any of you, or what you guys really think, but taxing both the casino and gamblers is a clear cheating on the part of the government, like I mentioned or said in my last comment on this thread, gambling is not a business, even the government do not recommend that anyone should depend on gambling as a means of income.

If gambling is not a business, why exactly should I pay tax for money earned through something that is not a business.
? Knowing fully well that for every $100 I win from gambling, I must have lost over $200 before winning that amount, I personally will never pay tax on gambling winnings even if the government implements and makes it compulsory.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: cafter on September 21, 2023, 11:57:52 AM
What do you mean by 'taxable money'? You mentioned that cryptocurrency and gambling are taxable, so I'm curious about your statement.
means playing with very small amounts which i mostly lose in the end.
I get it. So you are talking about the ceiling amount in gambling. This means your country taxes you on the amount of money you have gambled if it reaches the ceiling, instead of taxing capital gains or winnings? If that's the case, I think it's anti-gambler. I mean, who would gamble if they have to pay taxes regardless of the outcome of their gambling activity? It's not fun, to be honest.
No, that's not the way it works. The taxable amount is payable on the gambling winnings. Basically, gambling winnings are treated as income here and will be taxed if you exceed a certain threshold. If your annual income is over 2.5 lakh Indian Rupees, then you will need to file an ITR. If your income includes your gambling winnings, then you will also need to pay tax on that as it is considered as income. For example, if your annual income is Rs 50,000 and you win Rs 50,000 in gambling that year, then your total annual income will be Rs 1 lakh which is not taxable as it does not exceed the Rs 2.5 lakh threshold.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: traderethereum on September 21, 2023, 12:09:26 PM
-
To me, social rights are essential. You mentioned welfare and, according to a study I recently heard of, I strongly believe that in those countries where money is well redistributed the capacity for growth is greater. A country where the poor is poorer can't organically grow. I understand why poor people feel that they are being robbed when they have to pay their taxes and still don't see any benefits.

But we unfortunately live in an era where greediness in the norm. It is clear in the private sector, to the point of putting basic sustainability itself at risk, but the public sector is not any better in many cases, and changing that should be the first step to improve people's quality if life.
That is why the government must be able to manage tax money from gambling and other sources of income to channel it back to people with low incomes and add public facilities to return to its citizens.
If greed up there could be controlled by continuing to channel the rights of its citizens to the right places, a country's economy could improve, although not too significantly.
At least, little result can be given to the country's citizens so that the people can survive.
And if more tax money can be managed properly and correctly, of course, that will encourage change in a better direction for the country, and the people's economy will improve.
Hopefully, in the future, when the leader has been replaced with a better one, this can be realized for the welfare of the country's citizens so that the country can also develop better.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: 3kpk3 on September 21, 2023, 12:11:32 PM
Well , I don't know about any of you, or what you guys really think, but taxing both the casino and gamblers is a clear cheating on the part of the government, like I mentioned or said in my last comment on this thread, gambling is not a business, even the government do not recommend that anyone should depend on gambling as a means of income.
Gambling is actually a form of business itself since they share many things in common which is why I disagree with you here. However, only the gambling houses should be taxed while gamblers shouldn't pay any taxes.

I personally will never pay tax on gambling winnings even if the government implements and makes it compulsory.
Same here. The government is already eating a lot of our money through various taxes which is why I wouldn't pay any extra taxes either.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: danadc on September 21, 2023, 12:29:57 PM
It's not right for we to pay for the fun that we're having when we're gambling using casino, for those countries that their government is taxing their profits, they should protest because it isn't right, will the government pay them compensation when they lose while gambling.
I agree with you we shouldn't pay tax when gambling using casino or better still the government should have a moderate form were as after paying the tax for winning and when we losses there should be some sort of compensation to make it on a equilibrium patterns at least with these it will be a bit fair instead of paying tax on our winnings while the government doesn't care about our loss, but on a serious note the tax payment should have only impose on the casino company and not for the gamblers were as the tax paid by the casino should have covered  for the gamblers as such giving the gamblers tax free Because there are countries that tax only there casino company instead of both casino and the gamblers.
I am not okay with paying taxes to play in a casino, but those who are defenders of this motion, would I like to know why they defend it? Why do you think that each thing has to be given a certain amount? I don't understand why things have to be like this, we shouldn't pay for having fun, so these types of things are the ones that I don't understand why they should be Paid for, I see that here in the forum many people agree to pay for this, but why? It is okay to pay normal taxes, but will there come a time when for everything you do you have to pay a tax? In Cryptocurrencies nothing should be paid to Anyone.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Fivestar4everMVP on September 21, 2023, 12:34:58 PM
Well , I don't know about any of you, or what you guys really think, but taxing both the casino and gamblers is a clear cheating on the part of the government, like I mentioned or said in my last comment on this thread, gambling is not a business, even the government do not recommend that anyone should depend on gambling as a means of income.
Gambling is actually a form of business itself since they share many things in common which is why I disagree with you here. However, only the gambling houses should be taxed while gamblers shouldn't pay any taxes.
Lol 😁...

I know that there are very few gamblers who are extremely blessed with always being lucky that, when it comes to gambling, they can turn any amount of money you give to them into a huge amount of money, but let's be honest with ourselves, even casinos do not see gambling as a business, casino see gambling as a form of entertainment, which is why they always advice gamblers to gamble responsibility.

Gambling is not a business and shouldnt be seen as such bud, though running a casino is sure a business, don't confuse the two, anybody can start  a business with $100 and make profit off it in one month or two, as long as they know what they are doing, but not very many people will start gambling with same $100 and return with the money in one month or two, even when they were so sure about the games they were betting on, and this is because, most games in gambling is purely luck based, that is based on luck.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: armanda90 on September 21, 2023, 01:58:17 PM
snip
We don't have to pay anything with cryptocurrency, I don't think worth with tax transaction have to pay in gambling platform because gambling not always profitable and losing position keep have to pay with tax. Maybe could acceptable when earning profit trough gambling is fine for tax cut off but if position loss we faced double loss for tax and gambling platform. I don't think who ideas about tax gambling but in my country casino and gambling platform have been legalize required for paying tax and depend with the country rule how many percent of tax paying depend on minimum or maximum amount depositing in gambling or casino account.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Kasabus on September 21, 2023, 02:37:46 PM
snip
We don't have to pay anything with cryptocurrency, I don't think worth with tax transaction have to pay in gambling platform because gambling not always profitable and losing position keep have to pay with tax. Maybe could acceptable when earning profit trough gambling is fine for tax cut off but if position loss we faced double loss for tax and gambling platform. I don't think who ideas about tax gambling but in my country casino and gambling platform have been legalize required for paying tax and depend with the country rule how many percent of tax paying depend on minimum or maximum amount depositing in gambling or casino account.

This type of tax enforcement would discourage gamblers and could potentially harm the gambling industry. Who would be happy to find out that, after saving for the bankroll of their gambling session, they have to pay taxes first before they can gamble? And if they win, they also need to declare the winnings for additional taxes. If this really exists in certain countries, I think sooner or later the gambling industry could go bankrupt.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Wiwo on September 21, 2023, 03:11:51 PM
[....]
If not, what is the reasoning behind it?
I hardly make a big bank from gambling on a yearly basis so it doesn't make sense to even add that to the income tax returns. I think authorities should only go after casinos since they rarely end up in a loss. It's probably more costly for them to go after most casual gamblers that don't even keep a record of their wins and losses.
Same reason to why many of us gamblers are not efficient in tax payment,  how can we pay tax on a winning that is not even up to our loses not to talk of profits from the winning,  the house edge have made it hard for gamblers to get any much winning at once and if they're managed to win it will be in a small amount that is not even up to the total loses in a stretch,  so for that,  we may have a tough time in paying tax.

Just like I suggested before,  the best way for the government to collect income tax on gambling is through the casino,  that is to say, the casino will make the return to the government and not the winner who may never do that.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Cling18 on September 21, 2023, 03:37:06 PM
snip
We don't have to pay anything with cryptocurrency, I don't think worth with tax transaction have to pay in gambling platform because gambling not always profitable and losing position keep have to pay with tax. Maybe could acceptable when earning profit trough gambling is fine for tax cut off but if position loss we faced double loss for tax and gambling platform. I don't think who ideas about tax gambling but in my country casino and gambling platform have been legalize required for paying tax and depend with the country rule how many percent of tax paying depend on minimum or maximum amount depositing in gambling or casino account.

This type of tax enforcement would discourage gamblers and could potentially harm the gambling industry. Who would be happy to find out that, after saving for the bankroll of their gambling session, they have to pay taxes first before they can gamble? And if they win, they also need to declare the winnings for additional taxes. If this really exists in certain countries, I think sooner or later the gambling industry could go bankrupt.

This is a big burden to many gamblers as well as crypto users. We've chosen crypto because we can scape from taxing but once they tax it, it will surely affect us negatively especially those who are trying to say from their crypto earnings. Unfortunately, our government is now regulating our local crypto wallets and they're now taxing each transaction which is frustrating. Same with banks here which makes it hard for for us to withdraw our funds to cash but it's a good thing that p2p is still existing. I hope that each government won't take advantage of us crypto users but I think that's quite impossible.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: abel1337 on September 21, 2023, 03:48:12 PM
My case is different, I am in a country where they do not require me to pay taxes for playing in a cryptocurrency casino, when I enter a casino that uses local money, that is why I do not think I have to pay a fee, the only thing they ask me for is identification and I enter, in a casino I am not contemplating paying because it would be somewhat silly to ask that they charge me for using cryptocurrencies in a casino, I don't see it well either because freedom would be ending in these things, I believe that the KYC of the casinos is sufficient as For us, paying more just to play in a casino is like paying a tax for having the right to have fun, there is little logic in that.

My case is like yours because I haven't had an experience when my local casino ask me to pay a tax on the amount I want to withdraw because those money are profits that I made gambling using their casino. If the government wants to tax, they should increase the taxes for casino because they're making big profits because of the amount of individuals that use their casino daily and are losing money to them. The casino are making big profits already therefore they should pay for us.

It's not right for we to pay for the fun that we're having when we're gambling using casino, for those countries that their government is taxing their profits, they should protest because it isn't right, will the government pay them compensation when they lose while gambling.
Same here, I haven't experience being tax because of my casino profit, maybe because I don't declare it or their literally no tax for physical casino profits in our country, idk to be honest.

If the government impose tax on individual gambling profits, the citizens doesn't really have a choice especially if it's the law. There's nothing that a gambler can do unless the gambler play on an underground or illegal casino, for sure those type of casino is not taxable. It's fortunate enough that the country we are living in is allowing gambling and the casino owners are the one who are paying the high taxes to the government.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: crwth on September 21, 2023, 03:51:31 PM
Would you report on something that you have lost after a while in a casino??  :P Just kidding.

I believe a lot of people have nothing to do with tax and reporting it since it's somehow entertainment. It's more of a hobby for them. The taxes that they are contributing to are the ones they buy that are not tax-free or something. The added tax towards the things they buy immediately is probably the tax part.

Is there a proper way to handle those things?


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: 348Judah on September 21, 2023, 03:55:31 PM
It's not right for we to pay for the fun that we're having when we're gambling using casino, for those countries that their government is taxing their profits, they should protest because it isn't right, will the government pay them compensation when they lose while gambling.
I agree with you we shouldn't pay tax when gambling using casino or better still the government should have a moderate form were as after paying the tax for winning and when we losses there should be some sort of compensation to make it on a equilibrium patterns at least with these it will be a bit fair instead of paying tax on our winnings while the government doesn't care about our loss, but on a serious note the tax payment should have only impose on the casino company and not for the gamblers were as the tax paid by the casino should have covered  for the gamblers as such giving the gamblers tax free Because there are countries that tax only there casino company instead of both casino and the gamblers.

Why can't you pay tax when you're gambling, the intention for paying tax is when you engaged doing anything that source income for you, so if you earn in making something, then you're indirectly entitled to pay tax by the virtue of law because you earn, you can agree with me that some are earning a living through gambling, aren't they making money? the request here is not on those that pay for tax while staking, but if you win, can you still pay or not, am not suggesting one should pay honestly because having such discussion on wether to pay or not is the cause for this discussion.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Blitzboy on September 21, 2023, 05:11:29 PM
Well , I don't know about any of you, or what you guys really think, but taxing both the casino and gamblers is a clear cheating on the part of the government, like I mentioned or said in my last comment on this thread, gambling is not a business, even the government do not recommend that anyone should depend on gambling as a means of income.
Gambling is actually a form of business itself since they share many things in common which is why I disagree with you here. However, only the gambling houses should be taxed while gamblers shouldn't pay any taxes.
Lol 😁...

I know that there are very few gamblers who are extremely blessed with always being lucky that, when it comes to gambling, they can turn any amount of money you give to them into a huge amount of money, but let's be honest with ourselves, even casinos do not see gambling as a business, casino see gambling as a form of entertainment, which is why they always advice gamblers to gamble responsibility.

Gambling is not a business and shouldnt be seen as such bud, though running a casino is sure a business, don't confuse the two, anybody can start  a business with $100 and make profit off it in one month or two, as long as they know what they are doing, but not very many people will start gambling with same $100 and return with the money in one month or two, even when they were so sure about the games they were betting on, and this is because, most games in gambling is purely luck based, that is based on luck.
I couldnt agree more. The oldest scam in the book is when casinos highlight the word "entertainment" up. Its a cunning way for them to hide the trap that they've put up. However, it is not amusement; rather, it is a calculated risk, and who is conducting the calculations? No, not you.

Do you wish to discuss business? Fine. An enterprise is something you manage. You decide, you change, and you advance. But when it comes to gambling, control is a myth. Its a device made to ensure that you lose more often than you win. So lets not fool ourselves any longer. It is imperative to educate people about the shocking realities behind this phony "entertainment". For individuals who believe they are simply enjoying a little harmless fun, the sooner we expose the tricks of the casino industry, the better.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: shasan on September 21, 2023, 05:29:13 PM
Would you report on something that you have lost after a while in a casino??  :P Just kidding.

I believe a lot of people have nothing to do with tax and reporting it since it's somehow entertainment. It's more of a hobby for them. The taxes that they are contributing to are the ones they buy that are not tax-free or something. The added tax towards the things they buy immediately is probably the tax part.

Is there a proper way to handle those things?
If anyone earns a lot of money then the person might be charged for income tax. I do not think that is fit for the majority of users. I think only few users may fall in that category. And I think gambling fund which we loss is of for fun as you have mentioned which cant be considered as tax and for that I think gambling site provide income tax as they earn a lot of money from their gambling site.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: ScamViruS on September 21, 2023, 05:59:10 PM
It's not right for we to pay for the fun that we're having when we're gambling using casino, for those countries that their government is taxing their profits, they should protest because it isn't right, will the government pay them compensation when they lose while gambling.
I agree with you we shouldn't pay tax when gambling using casino or better still the government should have a moderate form were as after paying the tax for winning and when we losses there should be some sort of compensation to make it on a equilibrium patterns at least with these it will be a bit fair instead of paying tax on our winnings while the government doesn't care about our loss, but on a serious note the tax payment should have only impose on the casino company and not for the gamblers were as the tax paid by the casino should have covered  for the gamblers as such giving the gamblers tax free Because there are countries that tax only there casino company instead of both casino and the gamblers.

Why can't you pay tax when you're gambling, the intention for paying tax is when you engaged doing anything that source income for you, so if you earn in making something, then you're indirectly entitled to pay tax by the virtue of law because you earn, you can agree with me that some are earning a living through gambling, aren't they making money? the request here is not on those that pay for tax while staking, but if you win, can you still pay or not, am not suggesting one should pay honestly because having such discussion on wether to pay or not is the cause for this discussion.
How much a gambler earns and how much he loses from gambling is known only to that gambler. Now if the gambler wins a large amount of money, he may be inclined to pay the tax, if he wins a small amount the gambler will be more inclined to ignore it. Now since the gambler gambles online only the gambler can know the amount of money he has won and no one can force him to pay tax. And gambling sites pay huge amount of tax, because they earn huge amount of money.

So if a common gambler feels that his main source of income is gambling and he should pay his income tax then he can. But I think it would not be a good decision for me to think about paying tax without winning big.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: 3kpk3 on September 21, 2023, 06:02:05 PM
Gambling is not a business and shouldnt be seen as such bud, though running a casino is sure a business, don't confuse the two, anybody can start  a business with $100 and make profit off it in one month or two, as long as they know what they are doing, but not very many people will start gambling with same $100 and return with the money in one month or two, even when they were so sure about the games they were betting on, and this is because, most games in gambling is purely luck based, that is based on luck.
What in the world are you going on about? Casinos are businesses that offer gambling as a form of entertainment to gamblers around the world and they earn through the house edge etc while the gamblers earn through luck etc.

The casinos earn way more than gamblers in the long-term which is why they deserve to be taxed while gamblers shouldn't.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: SirJohnVonSlotty on September 21, 2023, 06:28:06 PM
Would you report on something that you have lost after a while in a casino??  :P Just kidding.

Yes, you can, in some countries, deduct your gambling losses from your total tax income, and pay less taxes for that fiscal year.

Gambling is not a business and shouldnt be seen as such bud, though running a casino is sure a business, don't confuse the two, anybody can start  a business with $100 and make profit off it in one month or two, as long as they know what they are doing, but not very many people will start gambling with same $100 and return with the money in one month or two, even when they were so sure about the games they were betting on, and this is because, most games in gambling is purely luck based, that is based on luck.
What in the world are you going on about? Casinos are businesses that offer gambling as a form of entertainment to gamblers around the world and they earn through the house edge etc while the gamblers earn through luck etc.

The casinos earn way more than gamblers in the long-term which is why they deserve to be taxed while gamblers shouldn't.

3kpk3 did you read what he wrote? He said that gambling, personal gambling, can't be treated as a business, and it shouldn't, it's just entertainment and the house always wins. And he continued to say that casinos, business entities, are businesses and to not confuse the two.

Please be on-topic.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: LUCKMCFLY on September 21, 2023, 11:42:04 PM
Usually, if we get income from our work, the government will ask us to pay income tax, where the tax money will be used for the benefit of the citizens and the country.
Come on! Do you seriously believe that? Most of our tax money goes directly into the pockets of greedy, pathetic politicians while a small portion of it is used for the welfare of citizens.

This happens in almost every country which is why protests regarding this issue happen regularly.
Of course not ;D
Those are just words that I often hear from the government and we as a society can only nod our heads because we already understand that those are just sweet words from them.
This has happened everywhere. They even commit corruption just to buy luxury goods and then show them on their social media page.
We as a society cannot do anything and just follow the rules of paying taxes while not knowing the actual allocation of tax money.
And thankfully, there are no taxes related to gambling so people who gamble don't pay taxes.

I wonder where you all live, because it is important in order to know whether you are right or just paranoid. There are countries where public money is really well controlled and, unlike decades ago, corrupts (the exception) end in jail.

For example, cases like Norway are paradigmatic: Norwegians don't only happily pay more than half of their salary in taxes (and happily because they do know that the money will be well used), but in cases like the 2008 crash, instead of rescuing the banks with public money, corrupt bankers went to jail, too.

I think that Europe is moving in this line, too (although the landscape varies a lot from country to country). But, for the rest of the world, you may be right, unfortunately.

I would love to live in a country where taxes are effectively utilized. Personally, I don't mind paying taxes or any new taxes they might implement because I'm confident that I, along with future generations, will benefit from them. However, in some other countries, the situation is different. The government is often controlled by oligarchs—wealthy businessmen who run major businesses in the country. Consequently, their personal interests tend to take precedence in all matters.

The truth is that I would like to Live in a Country where taxes are destined to end, to fix the things of the day, because yes, everyone in the world pays taxes and it is about doing the best so that they can do the best From this, it does not matter to me if the government is bad, or that the government is full of thugs, it matters that as long as the laws are well enforced and they can generate work and things as they are, then in this order of ideas, if the things are well Controlled , you will pay Any type of tax and up to date, but even if I am with the best country in the world, I will never accept paying for crypto esuar or casinois that are crypto, because for me it makes no sense that my fun is controlled by governments , then these types of things are already Innate , they are things like I don't let nobody get involved in my Finances , because that's why I'm in crypto, it only happens when you are in the purely FIAT System , where obviously you have the complete record of things and can Generate whatever it takes to maintain the country.

In fact, I have always agreed that many things Must be Done so that taxes are paid, I disagree with the accountants who evade taxes with theoretical tricks to do so, in this sense things can be better so that a country can move forward, but as I say , Only in the FIAT World where all things have a real meaning, ideal so that they can be done well, while the other things are not about how to do to have a better understanding of taxes, it should never be Asking someone who deals with crypto, deals with Crypto casinos and with Crypto trading, I won't agree with paying tax for it, so that's up to me, maybe I'm very pro-technologist, or very Pro-Crypto, I'm not I accept the intersection of a third party to benefit from crypto and unless it is from my crypto, which incorporates my fun, my Money, my Effort.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Hirose UK on September 22, 2023, 01:50:55 AM
Well , I don't know about any of you, or what you guys really think, but taxing both the casino and gamblers is a clear cheating on the part of the government, like I mentioned or said in my last comment on this thread, gambling is not a business, even the government do not recommend that anyone should depend on gambling as a means of income.
Gambling is actually a form of business itself since they share many things in common which is why I disagree with you here. However, only the gambling houses should be taxed while gamblers shouldn't pay any taxes.
I agree with you that gambling is an activity that involves profit or a place of business but for those who own and also the casino team and this does not apply to a gambler because gamblers come to spend money by betting not offering game or betting options with the aim of making a profit without any risk of loss.
Basically the person entitled to pay tax is the gambling place or casino not the gambler and in this gambling industry the biggest profit is the house or casino.
Moreover for every transaction that occurs a fee is also charged which the casino owner may use to pay the team or pay taxes because there are so many profit gaps from the casino business.

I personally will never pay tax on gambling winnings even if the government implements and makes it compulsory.
Same here. The government is already eating a lot of our money through various taxes which is why I wouldn't pay any extra taxes either.
The government in general in every country asks for income tax and much more so asking for tax for gambling activities doesn't seem like the right decision to apply to everyone.
If a tax is imposed on gamblers it is not like a tax but more like extortion and gamblers are the ones who suffer the biggest losses so the existence of a tax will only cause burden and trouble for the gamblers.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: slapper on September 22, 2023, 03:42:27 AM
~snip~

The truth is that I would like to Live in a Country where taxes are destined to end, to fix the things of the day, because yes, everyone in the world pays taxes and it is about doing the best so that they can do the best From this, it does not matter to me if the government is bad, or that the government is full of thugs, it matters that as long as the laws are well enforced and they can generate work and things as they are, then in this order of ideas, if the things are well Controlled , you will pay Any type of tax and up to date, but even if I am with the best country in the world, I will never accept paying for crypto esuar or casinois that are crypto, because for me it makes no sense that my fun is controlled by governments , then these types of things are already Innate , they are things like I don't let nobody get involved in my Finances , because that's why I'm in crypto, it only happens when you are in the purely FIAT System , where obviously you have the complete record of things and can Generate whatever it takes to maintain the country.

In fact, I have always agreed that many things Must be Done so that taxes are paid, I disagree with the accountants who evade taxes with theoretical tricks to do so, in this sense things can be better so that a country can move forward, but as I say , Only in the FIAT World where all things have a real meaning, ideal so that they can be done well, while the other things are not about how to do to have a better understanding of taxes, it should never be Asking someone who deals with crypto, deals with Crypto casinos and with Crypto trading, I won't agree with paying tax for it, so that's up to me, maybe I'm very pro-technologist, or very Pro-Crypto, I'm not I accept the intersection of a third party to benefit from crypto and unless it is from my crypto, which incorporates my fun, my Money, my Effort.

You want to live in a society where tax money is used efficiently and effectively. No frivolous spending, no corruption, just solid governance. Perfectly valid wish. But then you draw a hard line at crypto. Look, the gambling world, be it crypto casinos or traditional ones, operates on the premise of chance (and this chance slightly favor the house). If you make money off it, why shouldn't that be taxed just like any other income? Why does using technology make your earnings exempt? Crypto or not, you're benefiting from the infrastructure, security, and governance of the country you reside in. You enjoy its roads, hospitals, schools, and legal system. You're saying accountants who evade taxes are doing a disservice, and I'm with you on that. But by not wanting to pay tax on crypto earnings, how are you any different? Just because it's digital doesn't mean it's "free money"


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: danadc on September 22, 2023, 05:10:20 AM
Gambling is not a business and shouldnt be seen as such bud, though running a casino is sure a business, don't confuse the two, anybody can start  a business with $100 and make profit off it in one month or two, as long as they know what they are doing, but not very many people will start gambling with same $100 and return with the money in one month or two, even when they were so sure about the games they were betting on, and this is because, most games in gambling is purely luck based, that is based on luck.
What in the world are you going on about? Casinos are businesses that offer gambling as a form of entertainment to gamblers around the world and they earn through the house edge etc while the gamblers earn through luck etc.

The casinos earn way more than gamblers in the long-term which is why they deserve to be taxed while gamblers shouldn't.

You say it with great propriety and you are right, things are like that, there is no way it can be anything else, the casinos are the ones who have to comply with the tax obligations, but the players do not, a player can comply with the tax obligation from a casino that is with money made from a bnaoc, or from a transfer, but the same bank charges it at once, and not for a cryptocurrency casino, but a currency casino like dollars, euros, there they may want it charge the person, because they may consider it as something of a luxury, but I do not agree, a cryptocurrency casino player should not pay any tax to anyone.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Gozie51 on September 22, 2023, 05:29:53 AM
It's not right for we to pay for the fun that we're having when we're gambling using casino, for those countries that their government is taxing their profits, they should protest because it isn't right, will the government pay them compensation when they lose while gambling.
I agree with you we shouldn't pay tax when gambling using casino or better still the government should have a moderate form were as after paying the tax for winning and when we losses there should be some sort of compensation to make it on a equilibrium patterns at least with these it will be a bit fair instead of paying tax on our winnings while the government doesn't care about our loss, but on a serious note the tax payment should have only impose on the casino company and not for the gamblers were as the tax paid by the casino should have covered  for the gamblers as such giving the gamblers tax free Because there are countries that tax only there casino company instead of both casino and the gamblers.

Why can't you pay tax when you're gambling, the intention for paying tax is when you engaged doing anything that source income for you, so if you earn in making something, then you're indirectly entitled to pay tax by the virtue of law because you earn, you can agree with me that some are earning a living through gambling, aren't they making money? the request here is not on those that pay for tax while staking, but if you win, can you still pay or not, am not suggesting one should pay honestly because having such discussion on wether to pay or not is the cause for this discussion.

It will be a deservice to mandate someone who relies on luck for winning a game to pay tax from it, what about if he doesn't win, is he going to be taxed? I'm thinking tax is made out of the profit of a business and not of the losses. If this is the legal position then gamblers are not suppose to pay tax especially if in total sum of their gaming activities they are lose because companies declare their income statutorily and that is where they are taxed. Gambling is not a business and not a source of income so people gambling shouldn't be made to pay tax. But casinos must have to pay, they are business ventures that generate some percentage of money from the staking of their customers.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Viscore on September 22, 2023, 08:05:24 AM
Gambling is not a business and not a source of income so people gambling shouldn't be made to pay tax. But casinos must have to pay, they are business ventures that generate some percentage of money from the staking of their customers.
This should be the scenario: they say we can never win in gambling, so we are on the spending side, and we shouldn't have to pay taxes. Casinos are the ones making a lot of money, so to simplify things, they should be the ones obligated to pay taxes. Actually, taxes should not be complicated, as complexity can lead to issues where people fail to pay taxes due to a lack of understanding. We are aware of the high penalties for non-payment, and we might even face jail time for tax evasion, which we certainly don't intend.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Porfirii on September 22, 2023, 01:43:43 PM
Usually, if we get income from our work, the government will ask us to pay income tax, where the tax money will be used for the benefit of the citizens and the country.
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The truth is that I would like to Live in a Country where taxes are destined to end, to fix the things of the day, because yes, everyone in the world pays taxes and it is about doing the best so that they can do the best From this, it does not matter to me if the government is bad, or that the government is full of thugs, it matters that as long as the laws are well enforced and they can generate work and things as they are, then in this order of ideas, if the things are well Controlled , you will pay Any type of tax and up to date, but even if I am with the best country in the world, I will never accept paying for crypto esuar or casinois that are crypto, because for me it makes no sense that my fun is controlled by governments , then these types of things are already Innate , they are things like I don't let nobody get involved in my Finances , because that's why I'm in crypto, it only happens when you are in the purely FIAT System , where obviously you have the complete record of things and can Generate whatever it takes to maintain the country.

In fact, I have always agreed that many things Must be Done so that taxes are paid, I disagree with the accountants who evade taxes with theoretical tricks to do so, in this sense things can be better so that a country can move forward, but as I say , Only in the FIAT World where all things have a real meaning, ideal so that they can be done well, while the other things are not about how to do to have a better understanding of taxes, it should never be Asking someone who deals with crypto, deals with Crypto casinos and with Crypto trading, I won't agree with paying tax for it, so that's up to me, maybe I'm very pro-technologist, or very Pro-Crypto, I'm not I accept the intersection of a third party to benefit from crypto and unless it is from my crypto, which incorporates my fun, my Money, my Effort.


Dear LUCKMCFLY, although I don't fully share your point of view, I can understand your feelings. But part of the problem is that most people don't deal with cryptos and they wouldn't agree to make them tax free, so the utopia you are proposing is just that, a utopia.

I would settle for clear and reasonable rules on how to pay taxes. If I earn money, I have no problem in sharing a part for the common good. The problem is that nowadays in many countries we haven't got clear rules, and the ones we could invent by analogy don't fit well with the extreme volatility of this market, because they were not created with it in mind.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: wiss19 on September 23, 2023, 05:52:19 AM
You say it with great propriety and you are right, things are like that, there is no way it can be anything else, the casinos are the ones who have to comply with the tax obligations, but the players do not, a player can comply with the tax obligation from a casino that is with money made from a bnaoc, or from a transfer, but the same bank charges it at once, and not for a cryptocurrency casino, but a currency casino like dollars, euros, there they may want it charge the person, because they may consider it as something of a luxury, but I do not agree, a cryptocurrency casino player should not pay any tax to anyone.
I believe countries where gambling is legal and online gambling platforms including cryptocurrency casinos are regulated, players will also have to pay taxes on their gambling winnings, but I'm not really sure if the authorities will actually find out if one has won or lost, however, if a casino is regulated, the casino might let the authorities know about the players that have got significant wins in a particular period so that they can ask for them taxes.

If a country has no regulations for cryptocurrencies or cryptocurrency gambling platforms, they will most probably not be able to find out if a player has won something significant within a month or not if the players themselves aren't filing their winnings and willing to pay taxes which barely happens.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: mak013 on September 23, 2023, 06:30:52 AM
Now I'm quite curious how other gamblers are managing this part of the story, if they manage it at all.

So, question to you, did you ever consider paying taxes on your gambling winnings, or deduct the taxes with the losses you've created? If not, what is the reasoning behind it?
In my country your loses it is your problem, and your profit - is "our profit". So you can lose everything, but when you win - you have to pay taxes. If you stopped the game and move you money back to credit card - you have to pay taxes from the difference between you deposit to casino and withdraw from it.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Mate2237 on September 23, 2023, 06:55:08 AM
You say it with great propriety and you are right, things are like that, there is no way it can be anything else, the casinos are the ones who have to comply with the tax obligations, but the players do not, a player can comply with the tax obligation from a casino that is with money made from a bnaoc, or from a transfer, but the same bank charges it at once, and not for a cryptocurrency casino, but a currency casino like dollars, euros, there they may want it charge the person, because they may consider it as something of a luxury, but I do not agree, a cryptocurrency casino player should not pay any tax to anyone.
I believe countries where gambling is legal and online gambling platforms including cryptocurrency casinos are regulated, players will also have to pay taxes on their gambling winnings, but I'm not really sure if the authorities will actually find out if one has won or lost, however, if a casino is regulated, the casino might let the authorities know about the players that have got significant wins in a particular period so that they can ask for them taxes.

If a country has no regulations for cryptocurrencies or cryptocurrency gambling platforms, they will most probably not be able to find out if a player has won something significant within a month or not if the players themselves aren't filing their winnings and willing to pay taxes which barely happens.
Countries that gambling is not accepted, casinos would not pay tax and they the casinos will not also taking tax from their customers because if they do, the authorities will know that the casino company online is operating, and they will arrest them. So with that fear, everything will be in the low key. And no country in this world is not playing gamble be a legal and illegal countries. People play gamble in the country that gambling is illegal. But they gamble it online and not in physical centers but I still believe that events centers, clubs and hotels will have some specific casinos to entertain their customers for free or they pay small amount of money to play.

And I believe the owners of those places didn't pay for tax because it part of their advertisement in the company or investment. They only pay tax for the investment and not the casinos.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: maydna on September 23, 2023, 01:52:30 PM
Now I'm quite curious how other gamblers are managing this part of the story, if they manage it at all.

So, question to you, did you ever consider paying taxes on your gambling winnings, or deduct the taxes with the losses you've created? If not, what is the reasoning behind it?
In my country your loses it is your problem, and your profit - is "our profit". So you can lose everything, but when you win - you have to pay taxes. If you stopped the game and move you money back to credit card - you have to pay taxes from the difference between you deposit to casino and withdraw from it.
The loss was our loss, and we did not pay the taxes. And even if we win, we might just pay winnings tax to the casino. But using a credit card to gamble is not recommended because it is as if we are using borrowed money and have to pay it back on time. Otherwise, we will experience problems, and we may have to give something to the credit card company to pay off the money.

But to pay taxes on our gambling, it seems it depends on where we live because some countries will not ask for tax money on gambling, but countries will ask us to pay for other things. And it will depend on the policies of each country.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: EarnOnVictor on September 23, 2023, 02:07:50 PM
Now I'm quite curious how other gamblers are managing this part of the story, if they manage it at all.

So, question to you, did you ever consider paying taxes on your gambling winnings, or deduct the taxes with the losses you've created? If not, what is the reasoning behind it?
In my country your loses it is your problem, and your profit - is "our profit". So you can lose everything, but when you win - you have to pay taxes. If you stopped the game and move you money back to credit card - you have to pay taxes from the difference between you deposit to casino and withdraw from it.
The loss was our loss, and we did not pay the taxes. And even if we win, we might just pay winnings tax to the casino. But using a credit card to gamble is not recommended because it is as if we are using borrowed money and have to pay it back on time. Otherwise, we will experience problems, and we may have to give something to the credit card company to pay off the money.

But to pay taxes on our gambling, it seems it depends on where we live because some countries will not ask for tax money on gambling, but countries will ask us to pay for other things. And it will depend on the policies of each country.
Of course, the payments of taxes depend on where an individual lives, and in countries where it's been demanded, they are reasonable enough to ensure that the payers are not cheated in any way, but this can't still be entirely fair. Although my country does not demand taxes from individuals, it's the operators themselves that are taxed, yet I still prefer no tax for everyone because it's not an easy thing to gain from gambling which is never uncertain. This is another proof that world leaders see things differently and it's causing some citizens to suffer from their policies if it's bad. I wonder how some countries would be able to track it fairly whether someone earns regularly with gambling or uses loan money for the tax to know if they are fairly taxed or not.

Thanks to the various ways we can gamble these days, and gambling with an offshore casino by using a payment system that is not linked to any government-controlled institutions like crypto is the best way out in this regard.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: davis196 on September 24, 2023, 07:19:55 AM
Quote
Now I'm quite curious how other gamblers are managing this part of the story, if they manage it at all.

So, question to you, did you ever consider paying taxes on your gambling winnings, or deduct the taxes with the losses you've created? If not, what is the reasoning behind it?

In my country, there's a 10% income tax over gambling winnings. The casinos/sports bet platforms are paying between 15 and 20% revenue tax from all their revenue. So far, I haven't paid any tax over my gambling winnings, because I never had any total winnings. All my small winnings get spend for betting and I lose them eventually. Gambling losses cannot be deducted from the taxes where I live.
Most of the online casinos I use aren't located under the jurisdiction of my country, so I'm not sure whether do I have to pay taxes or not.
Are there any gambling taxes in Quracao or Costa Rica?


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: iv4n on September 24, 2023, 08:36:08 AM
Quote
Now I'm quite curious how other gamblers are managing this part of the story, if they manage it at all.

So, question to you, did you ever consider paying taxes on your gambling winnings, or deduct the taxes with the losses you've created? If not, what is the reasoning behind it?

In my country, there's a 10% income tax over gambling winnings. The casinos/sports bet platforms are paying between 15 and 20% revenue tax from all their revenue. So far, I haven't paid any tax over my gambling winnings, because I never had any total winnings. All my small winnings get spend for betting and I lose them eventually. Gambling losses cannot be deducted from the taxes where I live.
Most of the online casinos I use aren't located under the jurisdiction of my country, so I'm not sure whether do I have to pay taxes or not.
Are there any gambling taxes in Quracao or Costa Rica?

I wouldn't pay taxes on any gambling profits either... who's crazy enough to report himself and pay tax on gain from gambling? After all, it's our money, our risk, so if by any chance we make some profit it should be ours only!

Well, I only visit crypto casinos... so I don't visit local casinos or their online versions. So I am not sure how that works and if there are any taxes on that... And I don't have a wish to find out more about it.



Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Fivestar4everMVP on September 24, 2023, 08:59:51 AM
Quote
Now I'm quite curious how other gamblers are managing this part of the story, if they manage it at all.

So, question to you, did you ever consider paying taxes on your gambling winnings, or deduct the taxes with the losses you've created? If not, what is the reasoning behind it?

In my country, there's a 10% income tax over gambling winnings. The casinos/sports bet platforms are paying between 15 and 20% revenue tax from all their revenue. So far, I haven't paid any tax over my gambling winnings, because I never had any total winnings. All my small winnings get spend for betting and I lose them eventually. Gambling losses cannot be deducted from the taxes where I live.
Most of the online casinos I use aren't located under the jurisdiction of my country, so I'm not sure whether do I have to pay taxes or not.
Are there any gambling taxes in Quracao or Costa Rica?

I wouldn't pay taxes on any gambling profits either... who's crazy enough to report himself and pay tax on gain from gambling? After all, it's our money, our risk, so if by any chance we make some profit it should be ours only!

Well, I only visit crypto casinos... so I don't visit local casinos or their online versions. So I am not sure how that works and if there are any taxes on that... And I don't have a wish to find out more about it.


Completely agree with you bud, and the part of your comment which I really like is the part you asked that 'who is crazy  enough to report their self and pay tax on their gambling gains; I personally believe that the answer to that question is "No one", for any body who does that should really have his or her brains checked.

We lose money in gambling, and the government pays us nothing back as a compensation, how then does it make any sense to win money and then want to pay tax to the government? How about the monies that we have previously lost...?


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: cafter on September 24, 2023, 12:41:21 PM
Completely agree with you bud, and the part of your comment which I really like is the part you asked that 'who is crazy  enough to report their self and pay tax on their gambling gains; I personally believe that the answer to that question is "No one", for any body who does that should really have his or her brains checked.

We lose money in gambling, and the government pays us nothing back as a compensation, how then does it make any sense to win money and then want to pay tax to the government? How about the monies that we have previously lost...?

if we win a lottery or a large sum of money in a crypto casino that doesn’t know who we are because of the privacy of cryptocurrency, we can hide this amount without converting it into fiat and spending it on shopping by paying in cryptocurrency.

but if you won in a fiat casino that mostly requires KYC and need to withdraw your funds in a bank account where banks or financial institutions can track your winnings, then you can’t hide your winnings and you must pay the tax on your winnings..


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: maydna on September 24, 2023, 01:26:39 PM
~snip~
Of course, the payments of taxes depend on where an individual lives, and in countries where it's been demanded, they are reasonable enough to ensure that the payers are not cheated in any way, but this can't still be entirely fair. Although my country does not demand taxes from individuals, it's the operators themselves that are taxed, yet I still prefer no tax for everyone because it's not an easy thing to gain from gambling which is never uncertain. This is another proof that world leaders see things differently and it's causing some citizens to suffer from their policies if it's bad. I wonder how some countries would be able to track it fairly whether someone earns regularly with gambling or uses loan money for the tax to know if they are fairly taxed or not.

Thanks to the various ways we can gamble these days, and gambling with an offshore casino by using a payment system that is not linked to any government-controlled institutions like crypto is the best way out in this regard.
Usually, it is the operator who will be taxed while the gamblers are not taxed. Of course, we choose not to be taxed for our gambling, regardless of the results we get, especially if we lose more often than we win. World leaders will respond based on what is happening in their country and not because of what is happening in other countries because that will be irrelevant. But perhaps for certain countries, a regulatory body will supervise someone who gambles so that when that person wins, the regulatory body will ask for tax on the winnings. That person must pay it according to the tax stated in their report. The state can track how gamblers gamble and know how much they win and lose so that the state can adjust its taxes accordingly.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Viscore on September 24, 2023, 01:30:14 PM
Completely agree with you bud, and the part of your comment which I really like is the part you asked that 'who is crazy  enough to report their self and pay tax on their gambling gains; I personally believe that the answer to that question is "No one", for any body who does that should really have his or her brains checked.

We lose money in gambling, and the government pays us nothing back as a compensation, how then does it make any sense to win money and then want to pay tax to the government? How about the monies that we have previously lost...?

if we win a lottery or a large sum of money in a crypto casino that doesn’t know who we are because of the privacy of cryptocurrency, we can hide this amount without converting it into fiat and spending it on shopping by paying in cryptocurrency.

but if you won in a fiat casino that mostly requires KYC and need to withdraw your funds in a bank account where banks or financial institutions can track your winnings, then you can’t hide your winnings and you must pay the tax on your winnings..

Speaking of winning in a lottery, I'm assuming we are talking about a huge amount of money here, and I don't think you will not be eager to convert your winnings into fiat. So there's still a trace in case you will do so, and even if you use a peer-to-peer trading platform like what is present in Binance, you will still need to declare your receiving platform. It could be through a physical bank or a digital bank, and creating such will require KYC information.

What I'm trying to convey is that if tax authorities make an effort to trace a certain transaction, they can do so because they have the resources.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: dezoel on September 24, 2023, 02:46:59 PM
I wouldn't pay taxes on any gambling profits either... who's crazy enough to report himself and pay tax on gain from gambling? After all, it's our money, our risk, so if by any chance we make some profit it should be ours only!

Well, I only visit crypto casinos... so I don't visit local casinos or their online versions. So I am not sure how that works and if there are any taxes on that... And I don't have a wish to find out more about it.
When you say that it's our money and the profit should be ours only, where do you think the money comes from that people use to start businesses or make investments? It's also their own money, but they are bound to pay taxes on their income even if they have used their own money. The government doesn't give people money that they can use to do business and then pay taxes with that money, so it's not really about who the money belongs to.

However, a lot of people don't really declare their gambling winnings so that they can pay their taxes on them unless the authorities find out about their winnings and send them a notice about declaring their winnings and paying the taxes that they owe the state, and this happens only when gambling is legal in your country.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Rabata on September 24, 2023, 03:04:22 PM
Gambling is not a business and not a source of income so people gambling shouldn't be made to pay tax. But casinos must have to pay, they are business ventures that generate some percentage of money from the staking of their customers.
This should be the scenario: they say we can never win in gambling, so we are on the spending side, and we shouldn't have to pay taxes. Casinos are the ones making a lot of money, so to simplify things, they should be the ones obligated to pay taxes. Actually, taxes should not be complicated, as complexity can lead to issues where people fail to pay taxes due to a lack of understanding. We are aware of the high penalties for non-payment, and we might even face jail time for tax evasion, which we certainly don't intend.
Tax is definitely a good idea that everyone should pay. Those who provide taxes are considered as a good citizen of the country. However, many people are confused about paying taxes on gambling winnings. Some people think that what a person does when he loses money when gambling winnings are paid out? Moreover, since everything is uncertain in gambling, there is disagreement on the matter of when the tax will be paid. Before looking into various issues, it appears that it is not possible to pay regular taxes to gamblers, but if the government demands taxes from the casino sites, it is a suitable way.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: uneng on September 24, 2023, 03:08:16 PM
I wouldn't pay taxes on any gambling profits either... who's crazy enough to report himself and pay tax on gain from gambling? After all, it's our money, our risk, so if by any chance we make some profit it should be ours only!

Well, I only visit crypto casinos... so I don't visit local casinos or their online versions. So I am not sure how that works and if there are any taxes on that... And I don't have a wish to find out more about it.
When you say that it's our money and the profit should be ours only, where do you think the money comes from that people use to start businesses or make investments? It's also their own money, but they are bound to pay taxes on their income even if they have used their own money. The government doesn't give people money that they can use to do business and then pay taxes with that money, so it's not really about who the money belongs to.

However, a lot of people don't really declare their gambling winnings so that they can pay their taxes on them unless the authorities find out about their winnings and send them a notice about declaring their winnings and paying the taxes that they owe the state, and this happens only when gambling is legal in your country.
Then the government should charge the same percentage of taxes from businessmen and gamblers. The point is that gamblers have to pay much superior tax rates than everyone else inside the society. It doesn't encourage anyone declaring their winnings. Quite the opposite, such regulations only encourage gamblers to hide their winnings from authorities. And I really don't blame them for that, because I would be mad to risk my own money with a chance in one million to win a prize, and even if I won I had to pay 30% of my prize to the thief government.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: dothebeats on September 24, 2023, 03:12:59 PM
I wouldn't pay taxes on any gambling profits either... who's crazy enough to report himself and pay tax on gain from gambling? After all, it's our money, our risk, so if by any chance we make some profit it should be ours only!

Well, I only visit crypto casinos... so I don't visit local casinos or their online versions. So I am not sure how that works and if there are any taxes on that... And I don't have a wish to find out more about it.
When you say that it's our money and the profit should be ours only, where do you think the money comes from that people use to start businesses or make investments? It's also their own money, but they are bound to pay taxes on their income even if they have used their own money. The government doesn't give people money that they can use to do business and then pay taxes with that money, so it's not really about who the money belongs to.

However, a lot of people don't really declare their gambling winnings so that they can pay their taxes on them unless the authorities find out about their winnings and send them a notice about declaring their winnings and paying the taxes that they owe the state, and this happens only when gambling is legal in your country.

If the government does not provide everyone with services that are paid by the taxes of the people, only then can one say that they will not pay for taxes. But even then, you will be required by the law to pay your taxes. There's no other way around it. Either pay your taxes or be jailed.

As for filing taxes on winnings, there are still some countries wherein they don't impose this. These countries do have capital gains tax, but gambling winnings are something that isn't always considered as capital gains.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: rachael9385 on September 24, 2023, 05:30:45 PM
Quote
Now I'm quite curious how other gamblers are managing this part of the story, if they manage it at all.

So, question to you, did you ever consider paying taxes on your gambling winnings, or deduct the taxes with the losses you've created? If not, what is the reasoning behind it?

In my country, there's a 10% income tax over gambling winnings. The casinos/sports bet platforms are paying between 15 and 20% revenue tax from all their revenue. So far, I haven't paid any tax over my gambling winnings, because I never had any total winnings. All my small winnings get spend for betting and I lose them eventually. Gambling losses cannot be deducted from the taxes where I live.
Most of the online casinos I use aren't located under the jurisdiction of my country, so I'm not sure whether do I have to pay taxes or not.
Are there any gambling taxes in Quracao or Costa Rica?

I wouldn't pay taxes on any gambling profits either... who's crazy enough to report himself and pay tax on gain from gambling? After all, it's our money, our risk, so if by any chance we make some profit it should be ours only!

Well, I only visit crypto casinos... so I don't visit local casinos or their online versions. So I am not sure how that works and if there are any taxes on that... And I don't have a wish to find out more about it.


Completely agree with you bud, and the part of your comment which I really like is the part you asked that 'who is crazy  enough to report their self and pay tax on their gambling gains; I personally believe that the answer to that question is "No one", for any body who does that should really have his or her brains checked.

We lose money in gambling, and the government pays us nothing back as a compensation, how then does it make any sense to win money and then want to pay tax to the government? How about the monies that we have previously lost...?
I don't buy the idea of paying tax when I win a bet. To pay tax when we win a bet is just another way of just dashing the government our funds, if we should pay the government tax from our winning that means we are supposed to pay taxes when we also lose bets too.
As we all know, we don't always win bets, and the only time we win from gambling by then, either the gambling company or the government diminish some amount of money from our winnings. That means customers will be leaving the gambling company to bet in other casinos.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: iv4n on September 24, 2023, 06:08:59 PM
...
When you say that it's our money and the profit should be ours only, where do you think the money comes from that people use to start businesses or make investments? It's also their own money, but they are bound to pay taxes on their income even if they have used their own money. The government doesn't give people money that they can use to do business and then pay taxes with that money, so it's not really about who the money belongs to.
...

Life is gambling... whatever we do we face risks, and sometimes we win and sometimes we lose. But here we are talking about paying taxes on "fun & entertainment", do you really think that we should pay tax after every gambling session? So if I plan to gamble I need to be a "pro" accountant, to open spreadsheets and take care of all my deposits/withdrawals, wins/losses? Well, I would rather stop gambling or I would go 101% illegal just to avoid that.

And it's a bit stupid to compare starting some business with playing slots... do you really think that risk is the same? And possible long-run gains?


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Gozie51 on September 24, 2023, 06:40:11 PM

We lose money in gambling, and the government pays us nothing back as a compensation, how then does it make any sense to win money and then want to pay tax to the government? How about the monies that we have previously lost...?

This is the simple explanation why gamblers should not be taxed. It is fair to tax the game house or the case but not those that patronize them because if they are taxed, it amounts to double taxation and that is cheating. For example a gambler bets a game and loses then his bet ticket is traced where his KYC is identified and he is taxed on the loses again, that is injustice. Except for countries that gambling is taxable, they could do that on certain amount of winning but then I believe many gamblers will try to evade it because while they were losing, they weren't getting any refund from the tax office.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: summonerrk on September 24, 2023, 07:04:33 PM
I'm researching the topic on how many users actually report their winnings or losses to the tax authority, and from the current research there's a major discrepancy in the processes from country to country;


Quote
#1. Residents of the UK, Canada, and Australia don’t need to pay anything at all, as these governments view this money as the result of good fortune and do not view gambling as a profession. These earnings do not need to be reported, and nothing is owed on them.  
#2. Malta is also pretty simple. Gambling winnings are only taxed if the player is a professional gambler, though this term is not strictly defined, but if you're earning above the "grace amount" of 12950 EUR, you can apply for it.
#3. The US taxes all gambling winnings as income. In fact, there’s even a special form for documenting your gambling wings: Form W-2G. This money is counted towards your yearly income and will be taxed at whatever bracket you fall into at both the state and federal levels. You must keep track of the type of gambling, the amount of the gambling winnings, and the general ratio of the winnings to the wager, as these will all be needed for filing. Conversely, any gambling losses that occur on a real money online casino platform can be tax deductible in an amount up to your total yearly winnings. Losses and winnings must be filed separately and not as a net amount.
Source: EsportsHeadlines.com (https://esportsheadlines.com/esports-earnings-prize-money-taxation-guide/)


Now I'm quite curious how other gamblers are managing this part of the story, if they manage it at all.

So, question to you, did you ever consider paying taxes on your gambling winnings, or deduct the taxes with the losses you've created? If not, what is the reasoning behind it?



It seems to me that in every country, if you earn small amounts from gambling, you don’t have to file a declaration of your income with the tax office. I won many times in poker tournaments and sometimes in casino slots, and at the same time when I withdrew money to a credit card, I never filed a declaration. I believe that if your income from gambling is less than $1,000 per month, then no matter what country you are in, you do not need to declare yourself to the tax authorities. I think you can constantly withdraw money and not be noticed.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: mak013 on September 25, 2023, 06:01:31 AM
Now I'm quite curious how other gamblers are managing this part of the story, if they manage it at all.

So, question to you, did you ever consider paying taxes on your gambling winnings, or deduct the taxes with the losses you've created? If not, what is the reasoning behind it?
In my country your loses it is your problem, and your profit - is "our profit". So you can lose everything, but when you win - you have to pay taxes. If you stopped the game and move you money back to credit card - you have to pay taxes from the difference between you deposit to casino and withdraw from it.
The loss was our loss, and we did not pay the taxes. And even if we win, we might just pay winnings tax to the casino. But using a credit card to gamble is not recommended because it is as if we are using borrowed money and have to pay it back on time. Otherwise, we will experience problems, and we may have to give something to the credit card company to pay off the money.

But to pay taxes on our gambling, it seems it depends on where we live because some countries will not ask for tax money on gambling, but countries will ask us to pay for other things. And it will depend on the policies of each country.
It possible may be debit card, but i don`t cares about it because i set myself limits in gambling and even if i lose - i easily return money to the credit card.
I haven`t pay taxes for winning yet. It is strange situation as for me. I get profit, but if i don`t tell about it to tax service - it means, that i mustn`t pay anything. The same situation with cryptocurrencies. And i`m in gambling for at least 6 years and still didn`t pay any taxes for it.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Outhue on September 25, 2023, 06:29:52 AM
Are people really paying tax on the money they won from casinos? If this is possible then it's illegal, maybe some group of people are illegally taking tax from gamblers on their wins without been authorized by the government.

In my country many illegal taxes are being paid by the people, and that's because many people don't know their rights, they aren't educated and some who are even educated are dumb like zombies.

Several cases later got busted after many people have paid some official workers illegally, see everyone is fighting for their own good, either illegal or legal they don't care, if you are tax for winning money on casinos you should seek help from a lawyer, or get a police man and ask him, they will bring light to this for you, it might be illegal and some group of people might be behind it, even government workers are doing illegal activities using the government names.

Be a wise being.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: piebeyb on September 25, 2023, 06:44:25 AM
It seems to me that in every country, if you earn small amounts from gambling, you don’t have to file a declaration of your income with the tax office. I won many times in poker tournaments and sometimes in casino slots, and at the same time when I withdrew money to a credit card, I never filed a declaration. I believe that if your income from gambling is less than $1,000 per month, then no matter what country you are in, you do not need to declare yourself to the tax authorities. I think you can constantly withdraw money and not be noticed.
Yes, actually it also depends on each other's personal self if you feel that it is a very important thing to report the Gambling Winning Tax there is no problem and if you don't want to report there is also no problem, after all, not everyone can win big money every month in gambling, Except for someone who gets a big win in gambling, it may need to report income to the tax office because it is an obligation as a tax -obedient society.

But personally I have never reported income to the tax office about my income in gambling because I have never won a big money in gambling so that in my opinion it does not need to report it, even though I have an obligation as a tax -obedient citizen. Unless my other income tax may need to report to the office, everything returns to each


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: wiss19 on September 25, 2023, 01:12:40 PM
The loss was our loss, and we did not pay the taxes. And even if we win, we might just pay winnings tax to the casino. But using a credit card to gamble is not recommended because it is as if we are using borrowed money and have to pay it back on time. Otherwise, we will experience problems, and we may have to give something to the credit card company to pay off the money.

But to pay taxes on our gambling, it seems it depends on where we live because some countries will not ask for tax money on gambling, but countries will ask us to pay for other things. And it will depend on the policies of each country.
That sounds better than if we will pay some taxes in each bets that we placed no matter if they are a win or a loss. But if we win, we are going to pay a little bigger for the tax again. When it comes to payment methods to play gambling, indeed that using a credit card as a way to place bets are not good idea because apart from your stated reason, it can also tempt us to borrow more money and become move divested once we also lose them.

Maybe it's true that tax obligations in gambling can depend on the country that we are living because I'm not asked yet about it. But it can also depend on the game because lottery winners here are being charged by a tax and the amount is huge.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Vaculin on September 25, 2023, 01:53:26 PM
The loss was our loss, and we did not pay the taxes. And even if we win, we might just pay winnings tax to the casino. But using a credit card to gamble is not recommended because it is as if we are using borrowed money and have to pay it back on time. Otherwise, we will experience problems, and we may have to give something to the credit card company to pay off the money.

But to pay taxes on our gambling, it seems it depends on where we live because some countries will not ask for tax money on gambling, but countries will ask us to pay for other things. And it will depend on the policies of each country.
That sounds better than if we will pay some taxes in each bets that we placed no matter if they are a win or a loss. But if we win, we are going to pay a little bigger for the tax again. When it comes to payment methods to play gambling, indeed that using a credit card as a way to place bets are not good idea because apart from your stated reason, it can also tempt us to borrow more money and become move divested once we also lose them.

Maybe it's true that tax obligations in gambling can depend on the country that we are living because I'm not asked yet about it. But it can also depend on the game because lottery winners here are being charged by a tax and the amount is huge.

It's better if we do not have to pay taxes at all; it would be fair for gamblers that way since casinos are the ones making money. The government can seem too greedy when they tax everything. You see, if a casino wins, they will need to file income tax, and if we win, we are going to file income tax, so the government makes money both ways.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: noormcs5 on September 25, 2023, 02:04:13 PM
The loss was our loss, and we did not pay the taxes. And even if we win, we might just pay winnings tax to the casino. But using a credit card to gamble is not recommended because it is as if we are using borrowed money and have to pay it back on time. Otherwise, we will experience problems, and we may have to give something to the credit card company to pay off the money.

But to pay taxes on our gambling, it seems it depends on where we live because some countries will not ask for tax money on gambling, but countries will ask us to pay for other things. And it will depend on the policies of each country.
That sounds better than if we will pay some taxes in each bets that we placed no matter if they are a win or a loss. But if we win, we are going to pay a little bigger for the tax again. When it comes to payment methods to play gambling, indeed that using a credit card as a way to place bets are not good idea because apart from your stated reason, it can also tempt us to borrow more money and become move divested once we also lose them.

Maybe it's true that tax obligations in gambling can depend on the country that we are living because I'm not asked yet about it. But it can also depend on the game because lottery winners here are being charged by a tax and the amount is huge.

It's better if we do not have to pay taxes at all; it would be fair for gamblers that way since casinos are the ones making money. The government can seem too greedy when they tax everything. You see, if a casino wins, they will need to file income tax, and if we win, we are going to file income tax, so the government makes money both ways.

The government usually does not care, if you are making money or the casino is making money. They are only concerned with the taxes.
This means that if you are making a significant amount in gambling, you will have to pay the taxes. The casino is making money and they will separately pay the taxes.

However, the gamblers who are doing online gambling using crypto, sometimes do not declare anything to the government and the government also cannot figure out if they are making money through gambling, so they save their tax but still, it is risky as if they got caught could face legal consequences.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: maydna on September 25, 2023, 02:16:01 PM
~snip~
It possible may be debit card, but i don`t cares about it because i set myself limits in gambling and even if i lose - i easily return money to the credit card.
I haven`t pay taxes for winning yet. It is strange situation as for me. I get profit, but if i don`t tell about it to tax service - it means, that i mustn`t pay anything. The same situation with cryptocurrencies. And i`m in gambling for at least 6 years and still didn`t pay any taxes for it.
It could be a debit card. But I also don't know that because I have never gambled other than using crypto. And despite using crypto, I also don't pay taxes on my gambling. Even though I lose or win, no one knows except myself, and I also don't need to report the wins or losses I get from gambling. Perhaps I still pay taxes for other things, but specifically for gambling, I don't pay taxes, perhaps in countries where gambling is permitted, and gamblers use the money in their bank accounts to report to the bank about their winnings and losses. But for crypto gambling, I don't think it's easy to track it, but I don't know.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: xSkylarx on September 25, 2023, 02:23:41 PM
The loss was our loss, and we did not pay the taxes. And even if we win, we might just pay winnings tax to the casino. But using a credit card to gamble is not recommended because it is as if we are using borrowed money and have to pay it back on time. Otherwise, we will experience problems, and we may have to give something to the credit card company to pay off the money.

But to pay taxes on our gambling, it seems it depends on where we live because some countries will not ask for tax money on gambling, but countries will ask us to pay for other things. And it will depend on the policies of each country.
That sounds better than if we will pay some taxes in each bets that we placed no matter if they are a win or a loss. But if we win, we are going to pay a little bigger for the tax again. When it comes to payment methods to play gambling, indeed that using a credit card as a way to place bets are not good idea because apart from your stated reason, it can also tempt us to borrow more money and become move divested once we also lose them.

Maybe it's true that tax obligations in gambling can depend on the country that we are living because I'm not asked yet about it. But it can also depend on the game because lottery winners here are being charged by a tax and the amount is huge.

It's better if we do not have to pay taxes at all; it would be fair for gamblers that way since casinos are the ones making money. The government can seem too greedy when they tax everything. You see, if a casino wins, they will need to file income tax, and if we win, we are going to file income tax, so the government makes money both ways.

Hard truth yes as long as we win big the government always has the advantage and you know what the government says? They will just give it back to us by building roads, giving aid, and helping the economy grow which is something true but still we are skeptical because there are times that they just put it in their pockets.

Not sure where country you are residing but here in our country if we win over $200 your winnings are subject to tax. But again this is where the catch is youll need to go to the tax department to declare it so others won't go and declare it. But there are times that someone who got jealous of your winnings will report you on tax evasion because you didn't declare it which is where you've got a big case.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: South Park on September 25, 2023, 07:32:17 PM
The government usually does not care, if you are making money or the casino is making money. They are only concerned with the taxes.
This means that if you are making a significant amount in gambling, you will have to pay the taxes. The casino is making money and they will separately pay the taxes.

However, the gamblers who are doing online gambling using crypto, sometimes do not declare anything to the government and the government also cannot figure out if they are making money through gambling, so they save their tax but still, it is risky as if they got caught could face legal consequences.

Governments are inherently pragmatic, if a person is making a few dollars while gambling they are not going to take the time to go against that person since it simply makes no sense for them as they will lose money if they do so, however if you are earning a good amount of money out of gambling you can be sure that eventually the government will come knocking on your door regardless of whether you use fiat or crypto to gamble, as if you are a consistent winner then at some point you will have to go through KYC and the government of the country where you live will find out about your earnings.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: knowngunman on September 25, 2023, 07:42:00 PM
Not sure where country you are residing but here in our country if we win over $200 your winnings are subject to tax. But again this is where the catch is youll need to go to the tax department to declare it so others won't go and declare it. But there are times that someone who got jealous of your winnings will report you on tax evasion because you didn't declare it which is where you've got a big case.

But does this really make sense? What happened to the tax the gambling sites owners are paying? This is very unfair to gamblers and it's an injustice that need to be address before they'll ask you to hand over the whole of your winning some day. Before a gambler get a win, it's possible that he's lost x10 of what he won and no one compensate him for loosing his money and it's not proper to ask for some percentage as tax when he's trying to recover some of his loss.

The casinos are fully registered with government and should be taxed for being given chance to operate and not the innocent gamblers. You can not tax the taxi driver and also the passenger at the same time. If tax is to be paid from winning, then there should be compensation for losing as well.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: irhact on September 26, 2023, 06:17:49 AM
Are people really paying tax on the money they won from casinos? If this is possible then it's illegal, maybe some group of people are illegally taking tax from gamblers on their wins without been authorized by the government.

Yes when you read the thread, you'll see a lot of individual saying they're paying taxes and some countries are actually collecting tax from gamblers because they recognized gambling as a form of earning as those participating in them gets profits form their gambling activities. As I said earlier, I don't consider gambling a form of earning because profits aren't assured as you can make profits today but tomorrow you lose and the next day isn't assured as well.

Some countries are well developed and illegal taxes isn't happening because all taxes are paid directly to the government and not to random individual claiming to be the government in most under developed countries in Asia and Africa, some developed countries taxes everything.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: mak013 on September 26, 2023, 06:45:14 AM
~snip~
It possible may be debit card, but i don`t cares about it because i set myself limits in gambling and even if i lose - i easily return money to the credit card.
I haven`t pay taxes for winning yet. It is strange situation as for me. I get profit, but if i don`t tell about it to tax service - it means, that i mustn`t pay anything. The same situation with cryptocurrencies. And i`m in gambling for at least 6 years and still didn`t pay any taxes for it.
It could be a debit card. But I also don't know that because I have never gambled other than using crypto. And despite using crypto, I also don't pay taxes on my gambling. Even though I lose or win, no one knows except myself, and I also don't need to report the wins or losses I get from gambling. Perhaps I still pay taxes for other things, but specifically for gambling, I don't pay taxes, perhaps in countries where gambling is permitted, and gamblers use the money in their bank accounts to report to the bank about their winnings and losses. But for crypto gambling, I don't think it's easy to track it, but I don't know.
And one more moment i forgot. In offline casino in my country there is a limit for one moment withdrawal. If you withdraw more than $150 - the casino pay taxes for you. They decrease your withdrawal to pay taxes. So if i need to withdraw large sum i split it to several withdraws. In such way everything ok and no one pay taxes.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: LUCKMCFLY on September 26, 2023, 12:46:28 PM
~snip~

The truth is that I would like to Live in a Country where taxes are destined to end, to fix the things of the day, because yes, everyone in the world pays taxes and it is about doing the best so that they can do the best From this, it does not matter to me if the government is bad, or that the government is full of thugs, it matters that as long as the laws are well enforced and they can generate work and things as they are, then in this order of ideas, if the things are well Controlled , you will pay Any type of tax and up to date, but even if I am with the best country in the world, I will never accept paying for crypto esuar or casinois that are crypto, because for me it makes no sense that my fun is controlled by governments , then these types of things are already Innate , they are things like I don't let nobody get involved in my Finances , because that's why I'm in crypto, it only happens when you are in the purely FIAT System , where obviously you have the complete record of things and can Generate whatever it takes to maintain the country.

In fact, I have always agreed that many things Must be Done so that taxes are paid, I disagree with the accountants who evade taxes with theoretical tricks to do so, in this sense things can be better so that a country can move forward, but as I say , Only in the FIAT World where all things have a real meaning, ideal so that they can be done well, while the other things are not about how to do to have a better understanding of taxes, it should never be Asking someone who deals with crypto, deals with Crypto casinos and with Crypto trading, I won't agree with paying tax for it, so that's up to me, maybe I'm very pro-technologist, or very Pro-Crypto, I'm not I accept the intersection of a third party to benefit from crypto and unless it is from my crypto, which incorporates my fun, my Money, my Effort.

You want to live in a society where tax money is used efficiently and effectively. No frivolous spending, no corruption, just solid governance. Perfectly valid wish. But then you draw a hard line at crypto. Look, the gambling world, be it crypto casinos or traditional ones, operates on the premise of chance (and this chance slightly favor the house). If you make money off it, why shouldn't that be taxed just like any other income? Why does using technology make your earnings exempt? Crypto or not, you're benefiting from the infrastructure, security, and governance of the country you reside in. You enjoy its roads, hospitals, schools, and legal system. You're saying accountants who evade taxes are doing a disservice, and I'm with you on that. But by not wanting to pay tax on crypto earnings, how are you any different? Just because it's digital doesn't mean it's "free money"

Things are more beautiful when in a country where you live the government gives something to be well, maybe your country is like that and if those laws are Fulfilled , but the one I am in is not, the one I am in is not as you think , Things don't work like that here, when you Live in a corrupt system you don't want to pay any kind of tax, because I live in a rich country, which has gold, oil, rubies, everything, and what they do is exploit it and make the country poor. , then everyone has to migrate to other countries to see if they can have a better pace of life and lifestyle, so since it is crypto, be it casinos, whatever has to do with Bitcoin, the government should not stick its nose in, That is something that has to be clear, at least I am clear About it, and that is why there are so many problems now, in the casino the biggest problem there is is the KYC, the VPN, why? because things are going in the direction that they like to prohibit, and that is not the way out, the more people are banned, the irreverence will always be sought, because a government cannot tell you what to do, how to do it, here the government can put its hands in you. pocket and pay their expenses with your pocket they do it, so in this order of ideas I at least, because in the style of life system in the government that is in my country I do not admit that , of course it is my way of To think , some may not Agree because the government systems are much better, they are not as corrupt and they can and do Allocate tax money for what they are actually intended for.

Things are not like that here, the government is very corrupt, it's like giving money to thieves, so there are things that many people don't know about, because they don't live within the country's system because they think that way, there are countries that do make it difficult to pay taxes. , because they know that it means improvements for their country, but when it is not like that, that an entity from the government, who did not study anything, who is simply a person who is there by inertia , but who has the power , well, that one does It Carries a tax, that's why I don't agree.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: maydna on September 26, 2023, 04:01:39 PM
~snip~
And one more moment i forgot. In offline casino in my country there is a limit for one moment withdrawal. If you withdraw more than $150 - the casino pay taxes for you. They decrease your withdrawal to pay taxes. So if i need to withdraw large sum i split it to several withdraws. In such way everything ok and no one pay taxes.
I never thought there were more effective ways to not pay taxes on your gambling winnings.

But these methods are also good to try if they can still be done now. People who frequent offline casinos use that method by dividing it into several withdrawals. Well, it really helps them not to pay taxes because I think it would probably be too large if they had to pay taxes.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: alastantiger on September 26, 2023, 04:46:16 PM
It is quite confusing that there is not specific definition of a professional gambler and also that America is one of the countries with strict gambling taxation law. But America is making money from gambling taxes, they shouldn't ban gambling. It just makes no sense.

In my country, gambling winnings are not taxed. It is considered more of a recreational activity than a source of income. This though is likely to change as more gambling organizations are created. The government may wake up one day and demand a piece of the gambling pie.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Finestream on September 26, 2023, 05:49:06 PM
It is quite confusing that there is not specific definition of a professional gambler and also that America is one of the countries with strict gambling taxation law. But America is making money from gambling taxes, they shouldn't ban gambling. It just makes no sense.

In my country, gambling winnings are not taxed. It is considered more of a recreational activity than a source of income. This though is likely to change as more gambling organizations are created. The government may wake up one day and demand a piece of the gambling pie.

America cannot ban gambling, as they generate significant tax revenue from a billion-dollar industry. Major sports like MLB, NFL, NBA, and others are responsible for a large portion of these bets, and it benefits the government to allow more gambling sites to operate legally. As long as proper tax enforcement is implemented, there's little chance they will consider banning the entire gambling industry.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: LUCKMCFLY on September 27, 2023, 02:21:17 AM
Horse racing was cool back in the days but not anymore, I read online that the decline of such sport began in the year 2011, that's a very long time ago, it was already predicted that betting on horse racing would see a major decline, by now the horse race betting interest have already decline up to 30% if not more.

The sport have failed to keep up with other sports like volley, basketball, soccer, tennis and others, the truth is horse racing isn't modern type of gambling and the competition already outpace many attempts of horse racing bets companies.

We all love horse racing, in the 90s I prefer watching movies that have horses in them, that's why I get so much love for cowboy movies, Clint Eastwood for example, people like OP still believes that horse racing rocks, that's no lie, today,  many people believe that horse racing can be saved if bring into the modern age but sadly, many believe it's still too old fashioned, and this my friend is where I belong.  
There are several factors that cause a decline in the interest of most people in horse racing and in the current era more people choose sports such as Football, Cricket, Basketball, Tennis and also Esports to use as a betting option and can provide entertainment when watching them because in Some of these types have been loved by almost everyone in the world and are often the subject of hot discussion.
Moreover horse racing is no longer a trend and there are only a few countries that have this type of sport and quite a few countries also prohibit horse racing because they think it is very torturous to animals.

Due to the increasingly rapid development of the times it seems difficult for horse racing to grow again and be loved by many people again like it was a few years ago when it was still in the 90s.

I agree with you, because mainly things when it comes to how to train horses, you can simply stick to the rules of those who do that type of sport, but what you say is real, now things can be seen from In other ways, people do not like horses so now they are much more focused on protecting animals and the trend is then these types of things that we as people should also see, this like cockfighting are things that They have ceased to exist, which is why organizations now try to protect these types of animals and of course animals in extinction much more so, for this reason you always have to put things in context.

Animals at the world level are very protected, I don't really understand why the mistreatment towards horses is, but to be in a competition I imagined that the training was like training an athlete with his diet, with his different vitamins, but I never imagined that for That the horses that performed had to be so mistreated were things that I really didn't know, when I found out I am obviously one of those who support not animal abuse because things shouldn't be like that either, the animals need to take care of themselves, but in the case of bettors must understand that things cannot be that way either.

There is a big problem with the cockfight, but that is much stronger because things there last Until one of the two animals dies , so it seems to me that it is a practice of betting that is too high, I don't agree, the truth is never I have been to a cockfight, and in horse races I know that they still put them on and bet, but the truth is I don't know in which countries they do them, and if it is legal in those countries, but I am curious, because it is difficult , there are many to bet and well things tend to be quite Difficult Because the possibilities are many.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: famososMuertos on September 28, 2023, 12:26:22 AM
It is quite confusing that there is not specific definition of a professional gambler and also that America is one of the countries with strict gambling taxation law. But America is making money from gambling taxes, they shouldn't ban gambling. It just makes no sense.

In my country, gambling winnings are not taxed. It is considered more of a recreational activity than a source of income. This though is likely to change as more gambling organizations are created. The government may wake up one day and demand a piece of the gambling pie.

America cannot ban gambling, as they generate significant tax revenue from a billion-dollar industry. Major sports like MLB, NFL, NBA, and others are responsible for a large portion of these bets, and it benefits the government to allow more gambling sites to operate legally. As long as proper tax enforcement is implemented, there's little chance they will consider banning the entire gambling industry.

They prohibit it, and they have done it not once, several times, in fact, In several cities in the United States they are partially prohibited, anyway, you also have to understand that betting may be prohibited locally, (home games), such as betting on "recreational" games. So, homemade ones that become frequent, those are prohibited anywhere in the world,

But as I said, they prohibit you from meeting at home and placing bets, but not for approved commercial premises, that is, the so-called clandestine games are very difficult to control, but they do it.

Well, online poker was banned in the United States for a couple of years. Whoever plays poker knows that the Americans were the largest providers of traffic in the first decade of this century and it was they who really pushed online poker to big numbers.

Amazing traffic on Poker during those years and were a fundamental part of making pokerstar the largest online betting site on the planet, and it was 100% poker.

But they closed them, not only PS any online poker betting site was banned and, closed for a few years, it was only a couple of years ago that online poker has become "organized" again under strict laws, which regulate it, although issue is quite complex since the closure not only involved regulation but also the case of Fulltilt.

By the way, that golden era at the end of the first decade and beginning of the second in this century will hardly be repeated.

Finally, you can see that they're doing it, quote: "America cannot ban gambling, as they generate significant tax revenue from a billion-dollar industry".


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: danherbias07 on September 28, 2023, 12:49:28 AM
No. I think our country is part of the #1 on your list.
They don't tax online gambling yet. But, I did hear my neighbor telling me about how taxes are managed in the nearest cockpit here in our area. The "should be" multiplied by 2 wins will become 1.60 when you receive the payment. So I guess they are taking the tax automatically to the gamblers and the tax that is coming from the cockpit itself is different. So, there are so many profits that are being taken by the venue and I think that's the reason why the improvement of our place is faster because they are taking all the funds from there.
But, I can already hear a lot of gamblers in that cockpit that are complaining about it although I doubt they will a case and I also doubt they will stop gambling just because of that.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Fivestar4everMVP on September 28, 2023, 08:22:35 AM
No. I think our country is part of the #1 on your list.
They don't tax online gambling yet. But, I did hear my neighbor telling me about how taxes are managed in the nearest cockpit here in our area. The "should be" multiplied by 2 wins will become 1.60 when you receive the payment. So I guess they are taking the tax automatically to the gamblers and the tax that is coming from the cockpit itself is different. So, there are so many profits that are being taken by the venue and I think that's the reason why the improvement of our place is faster because they are taking all the funds from there.
But, I can already hear a lot of gamblers in that cockpit that are complaining about it although I doubt they will a case and I also doubt they will stop gambling just because of that.
Well, sincerely., this is a very intelligent way of collecting tax from gamblers without them even knowing it, so instead of gamblers having to pay taxes to government after they have withdrawn the money to their bank account from casino, the casino itself withdraw the tax from the gamblers win even before crediting the gamblers account, and then later on, remit the deducted tax to the government...

Brilliant idea indeed, but not one without flaws anyway, because it's also possible that the casino can be deducting this taxes from gamblers winnings not remit it.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: mak013 on September 28, 2023, 10:25:33 AM
~snip~
And one more moment i forgot. In offline casino in my country there is a limit for one moment withdrawal. If you withdraw more than $150 - the casino pay taxes for you. They decrease your withdrawal to pay taxes. So if i need to withdraw large sum i split it to several withdraws. In such way everything ok and no one pay taxes.
I never thought there were more effective ways to not pay taxes on your gambling winnings.

But these methods are also good to try if they can still be done now. People who frequent offline casinos use that method by dividing it into several withdrawals. Well, it really helps them not to pay taxes because I think it would probably be too large if they had to pay taxes.
I tried it last month and it still works. But it is possible that it don`t work in other countries. So i can recommend to try once first time and wait a bit. It the tax service has no questions about it, it means that it is possible. And of course it is breaking the law anyway. If i have to pay fine - it can be more than i have to pay taxes.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Sanitough on September 28, 2023, 11:05:15 AM
No. I think our country is part of the #1 on your list.
They don't tax online gambling yet. But, I did hear my neighbor telling me about how taxes are managed in the nearest cockpit here in our area. The "should be" multiplied by 2 wins will become 1.60 when you receive the payment. So I guess they are taking the tax automatically to the gamblers and the tax that is coming from the cockpit itself is different. So, there are so many profits that are being taken by the venue and I think that's the reason why the improvement of our place is faster because they are taking all the funds from there.
But, I can already hear a lot of gamblers in that cockpit that are complaining about it although I doubt they will a case and I also doubt they will stop gambling just because of that.
Well, sincerely., this is a very intelligent way of collecting tax from gamblers without them even knowing it, so instead of gamblers having to pay taxes to government after they have withdrawn the money to their bank account from casino, the casino itself withdraw the tax from the gamblers win even before crediting the gamblers account, and then later on, remit the deducted tax to the government...

Brilliant idea indeed, but not one without flaws anyway, because it's also possible that the casino can be deducting this taxes from gamblers winnings not remit it.

That can be done if there's a proper procedure for it. It's not part of the income tax of a casino; it's called withholding tax, with the casino acting as the withholding agent that deducts automatically from the winnings of the gamblers. I think that way, gamblers would be forced to pay taxes, making everything simple and benefiting the government in both ways.

A gambler would then just need to keep a copy of the tax form as proof that the correct tax has been withheld. At the end of the day, if a gambler inquires, it's still their name on the list of the tax agency, not the casino, as they have different tax responsibilities.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Blitzboy on September 28, 2023, 01:22:37 PM
It is quite confusing that there is not specific definition of a professional gambler and also that America is one of the countries with strict gambling taxation law. But America is making money from gambling taxes, they shouldn't ban gambling. It just makes no sense.

In my country, gambling winnings are not taxed. It is considered more of a recreational activity than a source of income. This though is likely to change as more gambling organizations are created. The government may wake up one day and demand a piece of the gambling pie.

America cannot ban gambling, as they generate significant tax revenue from a billion-dollar industry. Major sports like MLB, NFL, NBA, and others are responsible for a large portion of these bets, and it benefits the government to allow more gambling sites to operate legally. As long as proper tax enforcement is implemented, there's little chance they will consider banning the entire gambling industry.

They prohibit it, and they have done it not once, several times, in fact, In several cities in the United States they are partially prohibited, anyway, you also have to understand that betting may be prohibited locally, (home games), such as betting on "recreational" games. So, homemade ones that become frequent, those are prohibited anywhere in the world,

But as I said, they prohibit you from meeting at home and placing bets, but not for approved commercial premises, that is, the so-called clandestine games are very difficult to control, but they do it.

Well, online poker was banned in the United States for a couple of years. Whoever plays poker knows that the Americans were the largest providers of traffic in the first decade of this century and it was they who really pushed online poker to big numbers.

Amazing traffic on Poker during those years and were a fundamental part of making pokerstar the largest online betting site on the planet, and it was 100% poker.

But they closed them, not only PS any online poker betting site was banned and, closed for a few years, it was only a couple of years ago that online poker has become "organized" again under strict laws, which regulate it, although issue is quite complex since the closure not only involved regulation but also the case of Fulltilt.

By the way, that golden era at the end of the first decade and beginning of the second in this century will hardly be repeated.

Finally, you can see that they're doing it, quote: "America cannot ban gambling, as they generate significant tax revenue from a billion-dollar industry".
You're totally right, I mean. Poker games and bans have been a roller coaster. But rules are often created out of fear. If done improperly, gambling can harm your health and finances. Poker and betting are fun for some. Healthy gambling is knowing your limitations and not letting them control you.

The US's "ban, then allow, they ban again"? Definitely a show. Revenue isnt everything. Also for safety. As with Fulltilt, they intervened when things got complicated. Lets not forget that player safety comes first, even as they make money.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: ethereumhunter on September 28, 2023, 01:30:08 PM
It is quite confusing that there is not specific definition of a professional gambler and also that America is one of the countries with strict gambling taxation law. But America is making money from gambling taxes, they shouldn't ban gambling. It just makes no sense.

In my country, gambling winnings are not taxed. It is considered more of a recreational activity than a source of income. This though is likely to change as more gambling organizations are created. The government may wake up one day and demand a piece of the gambling pie.
Countries that can make money from gambling taxes will not prohibit gambling because it is profitable for the country and can be a source of income for the country. And if the tax money can be used appropriately and distributed to the people to build the necessary facilities, of course, that will make the people happy.

And it's great if gambling winnings are not taxed in your country so you can receive them in full. You can also use it for other things. Sooner or later, the government will take tax money from gambling and even if they don't tax money on gambling winners, the government will take that tax money away from its casinos as a business.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Japinat on September 28, 2023, 01:40:25 PM
It is quite confusing that there is not specific definition of a professional gambler and also that America is one of the countries with strict gambling taxation law. But America is making money from gambling taxes, they shouldn't ban gambling. It just makes no sense.

In my country, gambling winnings are not taxed. It is considered more of a recreational activity than a source of income. This though is likely to change as more gambling organizations are created. The government may wake up one day and demand a piece of the gambling pie.
Countries that can make money from gambling taxes will not prohibit gambling because it is profitable for the country and can be a source of income for the country. And if the tax money can be used appropriately and distributed to the people to build the necessary facilities, of course, that will make the people happy.

And it's great if gambling winnings are not taxed in your country so you can receive them in full. You can also use it for other things. Sooner or later, the government will take tax money from gambling and even if they don't tax money on gambling winners, the government will take that tax money away from its casinos as a business.

Regardless of how taxes are implemented or where they are taken from, what's important is that they are utilized well according to their intended purpose. In our country, we don't have the kind of law that requires gamblers to pay taxes. Instead, the government generates its tax income from operators, most of whom are foreigners. Additionally, we are not allowed to gamble in casinos run by these operators; it's mostly for the purpose to attract tourist only.

Lottery is also considered gambling in our country, but it's the government that operates it, so they don't need to impose taxes, as their collection is enough to help the country generate funds. Also, lottery winners are not required to pay taxes as it's tax-free.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Dimitri94 on September 28, 2023, 02:06:50 PM
It is quite confusing that there is not specific definition of a professional gambler and also that America is one of the countries with strict gambling taxation law. But America is making money from gambling taxes, they shouldn't ban gambling. It just makes no sense.

In my country, gambling winnings are not taxed. It is considered more of a recreational activity than a source of income. This though is likely to change as more gambling organizations are created. The government may wake up one day and demand a piece of the gambling pie.

America cannot ban gambling, as they generate significant tax revenue from a billion-dollar industry. Major sports like MLB, NFL, NBA, and others are responsible for a large portion of these bets, and it benefits the government to allow more gambling sites to operate legally. As long as proper tax enforcement is implemented, there's little chance they will consider banning the entire gambling industry.
The United States is a country with all kinds of laws and regulations related to gambling. Currently, the gambling industry is one of the biggest contributors to the country's revenue. Gambling companies pay tax to the government and the funds remitted by those companies are invested in various projects in the country.

In such a situation, if any harm occurs to these industries, they will lose huge revenue as well as their development activities may be affected. Moreover, in the United States, Every individual have freedom. If someone enjoys entertainment by spending his money on gambling, the government of the country will not interfere. Moreover, the law is respected in their country. If someone violates the prescribed law, he will surely be punished. Because they legislate holistically, gambling in their country will not be banned.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Vaculin on September 28, 2023, 02:20:40 PM
It is quite confusing that there is not specific definition of a professional gambler and also that America is one of the countries with strict gambling taxation law. But America is making money from gambling taxes, they shouldn't ban gambling. It just makes no sense.

In my country, gambling winnings are not taxed. It is considered more of a recreational activity than a source of income. This though is likely to change as more gambling organizations are created. The government may wake up one day and demand a piece of the gambling pie.

America cannot ban gambling, as they generate significant tax revenue from a billion-dollar industry. Major sports like MLB, NFL, NBA, and others are responsible for a large portion of these bets, and it benefits the government to allow more gambling sites to operate legally. As long as proper tax enforcement is implemented, there's little chance they will consider banning the entire gambling industry.
The United States is a country with all kinds of laws and regulations related to gambling. Currently, the gambling industry is one of the biggest contributors to the country's revenue. Gambling companies pay tax to the government and the funds remitted by those companies are invested in various projects in the country.

In such a situation, if any harm occurs to these industries, they will lose huge revenue as well as their development activities may be affected. Moreover, in the United States, Every individual have freedom. If someone enjoys entertainment by spending his money on gambling, the government of the country will not interfere. Moreover, the law is respected in their country. If someone violates the prescribed law, he will surely be punished. Because they legislate holistically, gambling in their country will not be banned.

Of course, who would let go of a billion dollars yearly income from the casinos.

We can find the data on the list   National tax revenue from commercial casinos in the United States in 2022, by state (https://www.statista.com/statistics/187869/tax-revenue-from-us-commercial-casinos-since-2014/#:~:text=National%20tax%20revenue%20from%20commercial%20casinos%20in%20the%20U.S.%202022%2C%20by%20state&text=The%20national%20tax%20revenue%20from,York%2C%20and%20Nevada%20in%202022.)

And here's an interesting fact ;

Quote
National tax revenue from commercial casinos in the U.S. 2022, by state
Published by Statista Research Department, Sep 7, 2023
 The national tax revenue from commercial casinos in the United States was highest in Pennsylvania, New York, and Nevada in 2022. Tax revenue of commercial casinos in the state of Nevada amounted to approximately 1.15 billion U.S. dollars that year.

They collect a significant amount of taxes, but gambling is not making the lives of the majority of gamblers difficult. For the majority, gambling is just treated as a form of entertainment. This is unlike in poor countries where some treat it as a source of income even when they can't.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Wiwo on September 28, 2023, 05:17:37 PM
No. I think our country is part of the #1 on your list.
They don't tax online gambling yet. But, I did hear my neighbor telling me about how taxes are managed in the nearest cockpit here in our area. The "should be" multiplied by 2 wins will become 1.60 when you receive the payment. So I guess they are taking the tax automatically to the gamblers and the tax that is coming from the cockpit itself is different. So, there are so many profits that are being taken by the venue and I think that's the reason why the improvement of our place is faster because they are taking all the funds from there.
But, I can already hear a lot of gamblers in that cockpit that are complaining about it although I doubt they will a case and I also doubt they will stop gambling just because of that.
Well, sincerely., this is a very intelligent way of collecting tax from gamblers without them even knowing it, so instead of gamblers having to pay taxes to government after they have withdrawn the money to their bank account from casino, the casino itself withdraw the tax from the gamblers win even before crediting the gamblers account, and then later on, remit the deducted tax to the government...

Brilliant idea indeed, but not one without flaws anyway, because it's also possible that the casino can be deducting this taxes from gamblers winnings not remit it.
Yes what Fivestar4everMVP mentioned is the most effective way to deduct tax from gamblers winning since in most cases the tax remittances are left for the gambler instead of the government going through the casino to get accurate taxation on winning but this will make room for a lot of developments and suspension of a lot of rules because in doing that it means that the casino and the government will have to work out a systematic model that give accurate figure in total tax at all time.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Davidvictorson on September 28, 2023, 05:43:22 PM
I don't pay gambling tax in my country. In fact it is totally I bet the average gambler in my country doesn't even know what a gambling tax it. We gamble, we win,  the money is all ours. We are happy. We gamble, we lose, we bear the brunt.
And you know, just as we don't pay any gambling tax, out gambling laws and regulations are not defined. There'e no organization in charge of regulating and keeping in check the excesses of these gambling operators. Also because of this gamblers don't have who to run too when they are cheated by these operators..I want there to be gambling tax in my country so that gamblers can be able to speak up and be able to hold these gambling operators responsible for their actions.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Finestream on September 29, 2023, 05:45:32 AM
I don't pay gambling tax in my country. In fact it is totally I bet the average gambler in my country doesn't even know what a gambling tax it. We gamble, we win,  the money is all ours. We are happy. We gamble, we lose, we bear the brunt.
And you know, just as we don't pay any gambling tax, out gambling laws and regulations are not defined. There'e no organization in charge of regulating and keeping in check the excesses of these gambling operators. Also because of this gamblers don't have who to run too when they are cheated by these operators..I want there to be gambling tax in my country so that gamblers can be able to speak up and be able to hold these gambling operators responsible for their actions.

You're fortunate to live in a country where there aren't any gambling taxes imposed on gamblers, or specific laws regarding it. This grants gamblers complete freedom in choosing when and where they want to gamble. I must admit, your situation is tempting enough to consider relocating—just kidding, of course!

However, it's important to note that as long as gambling isn't banned in your country, the government may eventually recognize the potential tax revenue from gamblers. So, don't be surprised if one day new laws are created and strictly enforced.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Negotiation on September 29, 2023, 05:53:40 AM
It is quite confusing that there is not specific definition of a professional gambler and also that America is one of the countries with strict gambling taxation law. But America is making money from gambling taxes, they shouldn't ban gambling. It just makes no sense.

In my country, gambling winnings are not taxed. It is considered more of a recreational activity than a source of income. This though is likely to change as more gambling organizations are created. The government may wake up one day and demand a piece of the gambling pie.

America cannot ban gambling, as they generate significant tax revenue from a billion-dollar industry. Major sports like MLB, NFL, NBA, and others are responsible for a large portion of these bets, and it benefits the government to allow more gambling sites to operate legally. As long as proper tax enforcement is implemented, there's little chance they will consider banning the entire gambling industry.
Legalized gambling in the U.S. usually pays tax on gambling winnings, although their rules on gambling vary slightly. If your winnings are reported on a form, federal tax is withheld at a flat rate. If you don't give your tax ID number to the payer, the withholding rate is set accordingly. There is no interference of legal bodies in enforcing taxes. And the transaction of gambling money is done through e-money and hundi. These money are going to the gambling site controllers located in different countries of the world including Russia, Philippines. On the other hand various agents are getting commission.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Japinat on September 29, 2023, 07:19:07 AM
These money are going to the gambling site controllers located in different countries of the world including Russia, Philippines. On the other hand various agents are getting commission.

Sorry, mate, you've got me confused. How can the Philippines be included in this? I believe the Philippines has its own taxation laws, and they don't cooperate with other nations in terms of implementation. Payments typically go directly to the tax authorities, which we call the BIR (Bureau of Internal Revenue). Also, I haven't heard of any laws where gambling site operators are considered tax witholding agents, so I'm totally lost by your comment.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: ethereumhunter on September 29, 2023, 10:40:57 AM
Regardless of how taxes are implemented or where they are taken from, what's important is that they are utilized well according to their intended purpose. In our country, we don't have the kind of law that requires gamblers to pay taxes. Instead, the government generates its tax income from operators, most of whom are foreigners. Additionally, we are not allowed to gamble in casinos run by these operators; it's mostly for the purpose to attract tourist only.

Lottery is also considered gambling in our country, but it's the government that operates it, so they don't need to impose taxes, as their collection is enough to help the country generate funds. Also, lottery winners are not required to pay taxes as it's tax-free.
Yes, if the government can use tax money well, of course, it can benefit the community because they can see real actions from the government regarding the use of tax money. The government will also build better public facilities so that people can use them optimally and get the benefits.

Some countries impose taxes on lottery winners and the amounts also vary. The tax money from lottery winners will go into the state treasury, which will be used for economic development and other sources of income. So the imposition of gambling tax will depend on the policies of each government in each country.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Pierre 2 on September 29, 2023, 12:13:20 PM
I never considered this but I think this is very valid argument. When people go establish companies to tax heavens its seen as accurate investment. I think if rich gambler does something sort of similar moving to different country it also makes sense. I feel like USA has very bad laws considering they directly tax income. I think tax should be far more lowered on income but maybe only on operations. Even government-regulated gambling options are heavily taxed... I just don't under his heavy tax fetish of countries.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: yazher on September 29, 2023, 12:16:28 PM
America cannot ban gambling, as they generate significant tax revenue from a billion-dollar industry. Major sports like MLB, NFL, NBA, and others are responsible for a large portion of these bets, and it benefits the government to allow more gambling sites to operate legally. As long as proper tax enforcement is implemented, there's little chance they will consider banning the entire gambling industry.

It's really hard to ban those gambling operators that are currently paying their taxes well and you can see that there are lots of them remaining though they were allowed only in the time of the pandemic. especially in another 3rd world country where taxes are important, that's why as of now when you try to browse Facebook by watching reels you often see their ads and they are allowed to operate because the government has already approved it. I think it is because they cannot afford to lose the money they were receiving from those operators and they even allowed it until now.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: mak013 on September 30, 2023, 06:44:41 AM
I never considered this but I think this is very valid argument. When people go establish companies to tax heavens its seen as accurate investment. I think if rich gambler does something sort of similar moving to different country it also makes sense. I feel like USA has very bad laws considering they directly tax income. I think tax should be far more lowered on income but maybe only on operations. Even government-regulated gambling options are heavily taxed... I just don't under his heavy tax fetish of countries.
If you pay taxes - you always disappointed with it. You worked had to get profit and they get your money. But the same time you get lots of opportunities due to these taxes. They pay salaries to civil servants from this money, build hospitals, road. From these taxes we get a opportunity to work and get profit. So nobody like taxes, but everybody pays.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: maydna on September 30, 2023, 03:33:44 PM
I never considered this but I think this is very valid argument. When people go establish companies to tax heavens its seen as accurate investment. I think if rich gambler does something sort of similar moving to different country it also makes sense. I feel like USA has very bad laws considering they directly tax income. I think tax should be far more lowered on income but maybe only on operations. Even government-regulated gambling options are heavily taxed... I just don't under his heavy tax fetish of countries.
If you pay taxes - you always disappointed with it. You worked had to get profit and they get your money. But the same time you get lots of opportunities due to these taxes. They pay salaries to civil servants from this money, build hospitals, road. From these taxes we get a opportunity to work and get profit. So nobody like taxes, but everybody pays.
Because every citizen must pay taxes, even though they don't like paying taxes, they indirectly enjoy the facilities obtained from this tax money, such as building hospitals, roads, etc. And even though we don't pay taxes on our gambling, the state can get taxes from other businesses running in that country. And if countries that allow gambling can get their tax money, it should be able to increase development and build better infrastructure.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: South Park on October 02, 2023, 05:35:29 PM
I never considered this but I think this is very valid argument. When people go establish companies to tax heavens its seen as accurate investment. I think if rich gambler does something sort of similar moving to different country it also makes sense. I feel like USA has very bad laws considering they directly tax income. I think tax should be far more lowered on income but maybe only on operations. Even government-regulated gambling options are heavily taxed... I just don't under his heavy tax fetish of countries.
If you pay taxes - you always disappointed with it. You worked had to get profit and they get your money. But the same time you get lots of opportunities due to these taxes. They pay salaries to civil servants from this money, build hospitals, road. From these taxes we get a opportunity to work and get profit. So nobody like taxes, but everybody pays.
This is assuming that you live in a country in which the law is respected and the level of corruption is on the low side, as there are many countries out there in which this is not the case and the majority of the money that you pay on taxes is being stolen by corrupt politicians and rich people, in that case I think there is a compelling argument to try to reduce the taxes that you pay as much as possible by the use of any loophole that may exist on the law.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Westinhome on October 02, 2023, 05:40:53 PM

This is assuming that you live in a country in which the law is respected and the level of corruption is on the low side, as there are many countries out there in which this is not the case and the majority of the money that you pay on taxes is being stolen by corrupt politicians and rich people, in that case I think there is a compelling argument to try to reduce the taxes that you pay as much as possible by the use of any loophole that may exist on the law.

This character was match to the most of the developed countries,the people of the developed countries will have enough money.So the people will get good income from their government job.So the government employee will not do corruption and they don’t have the purpose of doing corruption based on the money.So the people will pay the taxes to the government without fail,this also reduce the corrupted political in that countries.The government also allow the people to do the gambling in the legal way because of enough taxes paid by the people on the regular taxes on the government.So the government will bring more good schemes to their people from the tax money.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: dimonstration on October 02, 2023, 05:59:52 PM
This is assuming that you live in a country in which the law is respected and the level of corruption is on the low side, as there are many countries out there in which this is not the case and the majority of the money that you pay on taxes is being stolen by corrupt politicians and rich people, in that case I think there is a compelling argument to try to reduce the taxes that you pay as much as possible by the use of any loophole that may exist on the law.

There’s no such country exists which corruption is very low. US government has lot of big time corruption from politicians yet they have a very strict implementation on how to regulate taxes with its citizens.

It’s more on how the government properly regulate all the taxes of their citizens by having a department that is very strict on hunting taxes of each individual. It’s very hard to do this on poor country with limited resources but corruption is the real reason why some country failed to implement taxes properly.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: mak013 on October 03, 2023, 08:37:02 AM
If you pay taxes - you always disappointed with it. You worked had to get profit and they get your money. But the same time you get lots of opportunities due to these taxes. They pay salaries to civil servants from this money, build hospitals, road. From these taxes we get a opportunity to work and get profit. So nobody like taxes, but everybody pays.
Because every citizen must pay taxes, even though they don't like paying taxes, they indirectly enjoy the facilities obtained from this tax money, such as building hospitals, roads, etc. And even though we don't pay taxes on our gambling, the state can get taxes from other businesses running in that country. And if countries that allow gambling can get their tax money, it should be able to increase development and build better infrastructure.
Exactly. The casinos pay taxes too and citizens get profit from this taxes. And i can say that when i visited offline casino and won big sum(at least for me), the casino removed taxes from my win and gave me a check to show the tax service if they have any questions.


If you pay taxes - you always disappointed with it. You worked had to get profit and they get your money. But the same time you get lots of opportunities due to these taxes. They pay salaries to civil servants from this money, build hospitals, road. From these taxes we get a opportunity to work and get profit. So nobody like taxes, but everybody pays.
This is assuming that you live in a country in which the law is respected and the level of corruption is on the low side, as there are many countries out there in which this is not the case and the majority of the money that you pay on taxes is being stolen by corrupt politicians and rich people, in that case I think there is a compelling argument to try to reduce the taxes that you pay as much as possible by the use of any loophole that may exist on the law.
In every country i visited i heard about awful corruption. But when i watched around - it looks nice. New roads, hospitals, parks, etc. Anyway, the government can`t steal everything. They have to spend some taxes to improve the environment.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Natalim on October 03, 2023, 10:38:30 AM
This is assuming that you live in a country in which the law is respected and the level of corruption is on the low side, as there are many countries out there in which this is not the case and the majority of the money that you pay on taxes is being stolen by corrupt politicians and rich people, in that case I think there is a compelling argument to try to reduce the taxes that you pay as much as possible by the use of any loophole that may exist on the law.

There’s no such country exists which corruption is very low. US government has lot of big time corruption from politicians yet they have a very strict implementation on how to regulate taxes with its citizens.

It’s more on how the government properly regulate all the taxes of their citizens by having a department that is very strict on hunting taxes of each individual. It’s very hard to do this on poor country with limited resources but corruption is the real reason why some country failed to implement taxes properly.

There should be a scale from low to high, and I believe there are countries with low corruption, particularly those countries whose economies aren't very progressive or have relatively few people living in them, or they are not fully developed like the developed countries. The more a country becomes developed, the more money will flow in from businesses and people who enjoy their jobs. Since the pursuit of money is often the root cause of corruption, it's to be expected that corruption will exist.

What we read online, which reports the most corrupt or least corrupt countries, may not always be accurate, as powerful countries can sometimes manipulate information to protect their image or influence the perception of reality.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: slapper on October 03, 2023, 11:59:55 AM

This is assuming that you live in a country in which the law is respected and the level of corruption is on the low side, as there are many countries out there in which this is not the case and the majority of the money that you pay on taxes is being stolen by corrupt politicians and rich people, in that case I think there is a compelling argument to try to reduce the taxes that you pay as much as possible by the use of any loophole that may exist on the law.

This character was match to the most of the developed countries,the people of the developed countries will have enough money.So the people will get good income from their government job.So the government employee will not do corruption and they don’t have the purpose of doing corruption based on the money.So the people will pay the taxes to the government without fail,this also reduce the corrupted political in that countries.The government also allow the people to do the gambling in the legal way because of enough taxes paid by the people on the regular taxes on the government.So the government will bring more good schemes to their people from the tax money.
It's an interesting idea that having sufficient funds and a solid income from a government job can reduce corruption among government workers. Discussing responsible gaming is so important, especially in light of government initiatives and tax dollars

Now that legal gambling is permitted by governments, it's not simply a matter of collecting enough taxes; it's also a matter of providing a secure atmosphere for gamblers. It's about making sure that individuals can gamble in a controlled and secure manner, avoiding problems like gambling addiction, and making sure that the business is honest and open. But here's a fictitious issue: what if the beneficial programmes that the government has funded with tax dollars unintentionally promote more gambling? Isn't that fine balance challenging? ensuring that gambling remains healthy and doesn't develop into a problem in and of itself, as well as successfully using tax money. Do you agree that it's a thought worth considering?


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: retreat on October 03, 2023, 12:12:19 PM
In my country all forms of gambling are prohibited and if you are caught gambling you may be subject to a fine or criminal sentence. So there are no special rules governing taxation for gambling here, and if you win gambling with any amount, you don't need to pay taxes to the government and you are free to use your money for whatever it is.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Swordsoffreedom on October 03, 2023, 12:25:09 PM
In my country all forms of gambling are prohibited and if you are caught gambling you may be subject to a fine or criminal sentence. So there are no special rules governing taxation for gambling here, and if you win gambling with any amount, you don't need to pay taxes to the government and you are free to use your money for whatever it is.

Same situation in my country, all types of gambling are prohibited here. However there are several casinos here, but these casinos have no approval. These casinos are run by evading the government. And if anyone is caught a criminal case is filed against him. There is no opportunity to pay taxes to the government by gambling.

For these reasons I chose online gambling, it's relatively easy. Since gambling is prohibited in my country, so no one will know if I gamble using my computer or mobile. I mostly bet on games like cricket, football or boxing. And when I have the extra money I need I gamble in various online casinos. One such site is stake.com.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: OgNasty on October 03, 2023, 02:19:22 PM
I am definitely not efficient when it comes to taxes and gambling. Being totally honest, my tax plan when it comes to gambling is to make sure I lose everything I bet in the end so that I don’t have any taxes to worry about. Maybe not the best plan, but it seems to work out pretty well and I always enjoy myself.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: uneng on October 03, 2023, 04:19:35 PM
This is assuming that you live in a country in which the law is respected and the level of corruption is on the low side, as there are many countries out there in which this is not the case and the majority of the money that you pay on taxes is being stolen by corrupt politicians and rich people, in that case I think there is a compelling argument to try to reduce the taxes that you pay as much as possible by the use of any loophole that may exist on the law.
That is why I don't judge people who avoid paying taxes over their earnings. They aren't acting morally, as they go against a moral code defined by the country, but at same time I don't think they are unethical for doing this, since that money would feed more injustice on their local socities perpetrated by politicians, authorities in general and businessmen (especially the ones from big corporations).

It's not fair for a gambler to risk his own money (most of them losing on long term) to be enforced to share his winnings in a large percentage with a government which doesn't give anything back to that individual in form of public services in counterpart.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: wiss19 on October 04, 2023, 09:56:19 AM
There should be a scale from low to high, and I believe there are countries with low corruption, particularly those countries whose economies aren't very progressive or have relatively few people living in them, or they are not fully developed like the developed countries. The more a country becomes developed, the more money will flow in from businesses and people who enjoy their jobs. Since the pursuit of money is often the root cause of corruption, it's to be expected that corruption will exist.

What we read online, which reports the most corrupt or least corrupt countries, may not always be accurate, as powerful countries can sometimes manipulate information to protect their image or influence the perception of reality.
Manipulating facts or information online or offline won't hide the ground reality because people living in those powerful yet corrupt countries will know what they are going through and even if they aren't going through a lot, they will still be able to spot the corruption of the government at least in some things and they can't silence the whole country and ask them to not tell anyone that we are actually full of corruption but we just do it in a discrete manner.

Most countries are not developing only because of the corruption within government. Corrupt politicians and their political agendas don't let the countries prosper, they eat up most of the money that is collected from taxes that could be used towards the development work within the country.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: maydna on October 04, 2023, 01:26:35 PM
~snip~
Exactly. The casinos pay taxes too and citizens get profit from this taxes. And i can say that when i visited offline casino and won big sum(at least for me), the casino removed taxes from my win and gave me a check to show the tax service if they have any questions.
Hahaha, it benefits you in getting your winnings, and you don't have to pay taxes at all. That's good for you ;D

That means casinos have their own way of giving away their winnings to their winners. And I don't think that will happen in an online casino, especially if you get a big win at the online casino.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: mak013 on October 05, 2023, 12:00:50 PM
~snip~
Exactly. The casinos pay taxes too and citizens get profit from this taxes. And i can say that when i visited offline casino and won big sum(at least for me), the casino removed taxes from my win and gave me a check to show the tax service if they have any questions.
Hahaha, it benefits you in getting your winnings, and you don't have to pay taxes at all. That's good for you ;D

That means casinos have their own way of giving away their winnings to their winners. And I don't think that will happen in an online casino, especially if you get a big win at the online casino.
The idea that the casino pay taxes for me. They remove it from my prize. But it is possible that they have some ways not to pay taxes. Anyway it isn`t my problem - i have a check that i paid it.
I don`t sure how it works in the online casino, but it is possible that it depends on the sum. I try to withdraw small enough sums per time - $100-$150. May be if i withdraw $1000 they can make the same as offline casino.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: maydna on October 05, 2023, 09:29:38 PM
~snip~
The idea that the casino pay taxes for me. They remove it from my prize. But it is possible that they have some ways not to pay taxes. Anyway it isn`t my problem - i have a check that i paid it.
I don`t sure how it works in the online casino, but it is possible that it depends on the sum. I try to withdraw small enough sums per time - $100-$150. May be if i withdraw $1000 they can make the same as offline casino.
Correct. The important thing is that you take the check home and enjoy it. Besides, casinos should also pay taxes for the business they run. As for online casinos, I don't know because I never withdrew much money from my winnings. But if someone wants to withdraw a large amount of money, they must go through a check from the online casino before they can process the withdrawal. However, gamble at online casinos is more profitable because there is no need to pay taxes. Besides that, I prefer playing gambling at online casinos because I can play it anywhere.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: mirakal on October 05, 2023, 10:43:46 PM
It is quite confusing that there is not specific definition of a professional gambler and also that America is one of the countries with strict gambling taxation law. But America is making money from gambling taxes, they shouldn't ban gambling. It just makes no sense.

In my country, gambling winnings are not taxed. It is considered more of a recreational activity than a source of income. This though is likely to change as more gambling organizations are created. The government may wake up one day and demand a piece of the gambling pie.

America cannot ban gambling, as they generate significant tax revenue from a billion-dollar industry. Major sports like MLB, NFL, NBA, and others are responsible for a large portion of these bets, and it benefits the government to allow more gambling sites to operate legally. As long as proper tax enforcement is implemented, there's little chance they will consider banning the entire gambling industry.
Well, if the country continue to benefit from the gambling casinos, then it's rare to see US banning gambling operations, except for those illegal gambling sites that do not pay taxes to the government. However, in my country, gambling is just a recreational activity, whether you win or lose, the government won't demand tax from you. But for gambling lotteries, there's always tax associated in it to help build public hospitals and big infrastructures that will cater the needs of the citizens.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Casdinyard on October 05, 2023, 10:53:33 PM
In the country where I live in this isn't a problem (at least from what I know), and unless you won the super lotto granting you a hundred thousand dollar prize in the process you won't be taxed for what you earned while you gamble. I've earned a sizable amount from my games at a local casino that I used to frequent in, I used to play on government-sanctioned online casinos as well, I guess from where I live the tax is already pre-cut from what you pay when you gamble like the tokens, the spins, and all that stuff cause I never had the tax man knock on my door on a cold and dreary night asking me where my gambling tax report is.

And yeah before our capitalist friends come flocking in here I just wanna say living in the Philippines isn't the best right now especially since the whole country's in some sort of political turmoil. Be wary and take every Pinoybaiting vlogger's words with a grain of salt.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Westinhome on October 05, 2023, 11:45:25 PM
In the country where I live in this isn't a problem (at least from what I know), and unless you won the super lotto granting you a hundred thousand dollar prize in the process you won't be taxed for what you earned while you gamble. I've earned a sizable amount from my games at a local casino that I used to frequent in, I used to play on government-sanctioned online casinos as well, I guess from where I live the tax is already pre-cut from what you pay when you gamble like the tokens, the spins, and all that stuff cause I never had the tax man knock on my door on a cold and dreary night asking me where my gambling tax report is.

And yeah before our capitalist friends come flocking in here I just wanna say living in the Philippines isn't the best right now especially since the whole country's in some sort of political turmoil. Be wary and take every Pinoybaiting vlogger's words with a grain of salt.

So you mean only the gambler who win the big money alone need to pay taxes.If so then you can do the gambling with the minimum limit to avoid of pay taxes to the gambling.Actually no one will not worry to pay taxes after the big super lotto,if the gambler not ready to pay taxes after the big win.Such gambler is so greedy to get all the money to his own pocket and not ready to pay taxes.But the gambler had won the money from the gambling,which is the free win.So the paying of taxes for the win will help the government to create a good scheme to people.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: mak013 on October 06, 2023, 12:22:07 PM
~snip~
The idea that the casino pay taxes for me. They remove it from my prize. But it is possible that they have some ways not to pay taxes. Anyway it isn`t my problem - i have a check that i paid it.
I don`t sure how it works in the online casino, but it is possible that it depends on the sum. I try to withdraw small enough sums per time - $100-$150. May be if i withdraw $1000 they can make the same as offline casino.
Correct. The important thing is that you take the check home and enjoy it. Besides, casinos should also pay taxes for the business they run. As for online casinos, I don't know because I never withdrew much money from my winnings. But if someone wants to withdraw a large amount of money, they must go through a check from the online casino before they can process the withdrawal. However, gamble at online casinos is more profitable because there is no need to pay taxes. Besides that, I prefer playing gambling at online casinos because I can play it anywhere.
I don`t sure about taxes in online casino. Someone told me that the online casino makes the same as offline - from some sum they reduce your withdrawal for taxes. But i don`t sure that it is so - i haven`t seen it myself.
Gambling in online casino is nice for gambling anywhere. The same time gambling in offline casino gives you very bright emotions. So if i have an opportunity - i try to visit offline casino during vacation.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: CarnagexD on October 06, 2023, 01:16:01 PM
In the country where I live in this isn't a problem (at least from what I know), and unless you won the super lotto granting you a hundred thousand dollar prize in the process you won't be taxed for what you earned while you gamble. I've earned a sizable amount from my games at a local casino that I used to frequent in, I used to play on government-sanctioned online casinos as well, I guess from where I live the tax is already pre-cut from what you pay when you gamble like the tokens, the spins, and all that stuff cause I never had the tax man knock on my door on a cold and dreary night asking me where my gambling tax report is.

And yeah before our capitalist friends come flocking in here I just wanna say living in the Philippines isn't the best right now especially since the whole country's in some sort of political turmoil. Be wary and take every Pinoybaiting vlogger's words with a grain of salt.

So you mean only the gambler who win the big money alone need to pay taxes.If so then you can do the gambling with the minimum limit to avoid of pay taxes to the gambling.Actually no one will not worry to pay taxes after the big super lotto,if the gambler not ready to pay taxes after the big win.Such gambler is so greedy to get all the money to his own pocket and not ready to pay taxes.But the gambler had won the money from the gambling,which is the free win.So the paying of taxes for the win will help the government to create a good scheme to people.

Yeah that’s what we call the progressive tax in our country. Like the more you earn, the more you pay. Anyway, gamblers may not opt to gamble and win a little because usually when you play, the higher the risk or bet, the higher the winnings right? Those casinos or games that are legally registered pay taxes too and they gain benefits from it that’s why before they give the winnings to the winners, it is already net of tax. But yeah not hundred percent of taxes paid is properly spent by the government


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: LUCKMCFLY on October 07, 2023, 02:59:51 AM
This is assuming that you live in a country in which the law is respected and the level of corruption is on the low side, as there are many countries out there in which this is not the case and the majority of the money that you pay on taxes is being stolen by corrupt politicians and rich people, in that case I think there is a compelling argument to try to reduce the taxes that you pay as much as possible by the use of any loophole that may exist on the law.
That is why I don't judge people who avoid paying taxes over their earnings. They aren't acting morally, as they go against a moral code defined by the country, but at same time I don't think they are unethical for doing this, since that money would feed more injustice on their local socities perpetrated by politicians, authorities in general and businessmen (especially the ones from big corporations).

It's not fair for a gambler to risk his own money (most of them losing on long term) to be enforced to share his winnings in a large percentage with a government which doesn't give anything back to that individual in form of public services in counterpart.

That's right, exactly that's what happens, because of those issues we should not generalize, if in my case I lived in a country where things partially worked well, the government would not be so corrupt, one with all the pleasure of the world pay the tax even with Crypto, if it is in a crypto casino then even I would pay it, but being in a government that is not corrupt, because I know that this will help the country grow, and that is something that is worth it, because by having taxes to provide good service in technology, in clinics, in things that are in favor of Continuing to improve, people would not evade taxes, but taxes in eteos are evaded when it is in crypto, but the That's the reason, for example in my country, if they give away only the crypto issues based on mining, if they don't register with the government agency they put the person in prison, but if they register everything, then the government has all the information and if it occurs to them to go after the apartments of a Particular person and take them, they can do it, then that is not only correct, because they say that the government needs it and that's it, just like that they take the teams and leave the Company with Nothing , because that has happened many times, then they are corrupt, thieves and abusive.

For these reasons I have a very clear thought about politicians in the world, for me none of them are worth it, I only notice the US Government , the candidates as they are are fighting, they play dirty and they bully each other. pesnarq eu are colleagues, where they are not Respected , they send Organizations ready so that they can leave , Leave everything in the hands of the laws, which only apply in their favor, by the way there is no law, when they try to defend themselves against a great politician. A person cannot defend himself much because the Tabloid press attacks him, I have seen something like this in the case of Trump, can you only imagine that things turn Around and he Eins? What will the crypto policies be like here? Will they accept them to pay tax for Using online Casinos?


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: maydna on October 07, 2023, 09:42:15 AM
~snip~
I don`t sure about taxes in online casino. Someone told me that the online casino makes the same as offline - from some sum they reduce your withdrawal for taxes. But i don`t sure that it is so - i haven`t seen it myself.
Gambling in online casino is nice for gambling anywhere. The same time gambling in offline casino gives you very bright emotions. So if i have an opportunity - i try to visit offline casino during vacation.
It seems like there are taxes in online casinos, but we, as gamblers in online casinos, do not pay these taxes unless our country's government knows that we also play online gambling in crypto casinos. But so far, many people can gamble at crypto casinos freely and without paying taxes to their local government. They also don't pay taxes when they can withdraw their winnings to their local bank, but they still pay taxes for other things that are not related to gambling.

I haven't visited offline casinos and only gamble at online crypto casinos. I did visit one of the local fiat-based casinos, but I think I still prefer gambling at a crypto casino using crypto. It gives me the freedom to use the coins instead of having to deposit fiat into my gambling account.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Docnaster on October 07, 2023, 09:58:34 AM
In the country where I live in this isn't a problem (at least from what I know), and unless you won the super lotto granting you a hundred thousand dollar prize in the process you won't be taxed for what you earned while you gamble. I've earned a sizable amount from my games at a local casino that I used to frequent in, I used to play on government-sanctioned online casinos as well, I guess from where I live the tax is already pre-cut from what you pay when you gamble like the tokens, the spins, and all that stuff cause I never had the tax man knock on my door on a cold and dreary night asking me where my gambling tax report is.

And yeah before our capitalist friends come flocking in here I just wanna say living in the Philippines isn't the best right now especially since the whole country's in some sort of political turmoil. Be wary and take every Pinoybaiting vlogger's words with a grain of salt.

So you mean only the gambler who win the big money alone need to pay taxes.If so then you can do the gambling with the minimum limit to avoid of pay taxes to the gambling.Actually no one will not worry to pay taxes after the big super lotto,if the gambler not ready to pay taxes after the big win.Such gambler is so greedy to get all the money to his own pocket and not ready to pay taxes.But the gambler had won the money from the gambling,which is the free win.So the paying of taxes for the win will help the government to create a good scheme to people.

Yeah that’s what we call the progressive tax in our country. Like the more you earn, the more you pay. Anyway, gamblers may not opt to gamble and win a little because usually when you play, the higher the risk or bet, the higher the winnings right? Those casinos or games that are legally registered pay taxes too and they gain benefits from it that’s why before they give the winnings to the winners, it is already net of tax. But yeah not hundred percent of taxes paid is properly spent by the government
Tax payment in gambling is determined by the tax policies of the government in a particular country. My country for instance, there's nothing like payment of tax from winnings in gambling wether it's offline or online. I don't gamble too often but I know that people don't pay taxes from their winnings.
That being said, gambling companies does pay tax to the government as it is mandatory for all existing firms to pay tax to the government.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: slapper on October 07, 2023, 11:10:16 AM
This is assuming that you live in a country in which the law is respected and the level of corruption is on the low side, as there are many countries out there in which this is not the case and the majority of the money that you pay on taxes is being stolen by corrupt politicians and rich people, in that case I think there is a compelling argument to try to reduce the taxes that you pay as much as possible by the use of any loophole that may exist on the law.
That is why I don't judge people who avoid paying taxes over their earnings. They aren't acting morally, as they go against a moral code defined by the country, but at same time I don't think they are unethical for doing this, since that money would feed more injustice on their local socities perpetrated by politicians, authorities in general and businessmen (especially the ones from big corporations).

It's not fair for a gambler to risk his own money (most of them losing on long term) to be enforced to share his winnings in a large percentage with a government which doesn't give anything back to that individual in form of public services in counterpart.

That's right, exactly that's what happens, because of those issues we should not generalize, if in my case I lived in a country where things partially worked well, the government would not be so corrupt, one with all the pleasure of the world pay the tax even with Crypto, if it is in a crypto casino then even I would pay it, but being in a government that is not corrupt, because I know that this will help the country grow, and that is something that is worth it, because by having taxes to provide good service in technology, in clinics, in things that are in favor of Continuing to improve, people would not evade taxes, but taxes in eteos are evaded when it is in crypto, but the That's the reason, for example in my country, if they give away only the crypto issues based on mining, if they don't register with the government agency they put the person in prison, but if they register everything, then the government has all the information and if it occurs to them to go after the apartments of a Particular person and take them, they can do it, then that is not only correct, because they say that the government needs it and that's it, just like that they take the teams and leave the Company with Nothing , because that has happened many times, then they are corrupt, thieves and abusive.

For these reasons I have a very clear thought about politicians in the world, for me none of them are worth it, I only notice the US Government , the candidates as they are are fighting, they play dirty and they bully each other. pesnarq eu are colleagues, where they are not Respected , they send Organizations ready so that they can leave , Leave everything in the hands of the laws, which only apply in their favor, by the way there is no law, when they try to defend themselves against a great politician. A person cannot defend himself much because the Tabloid press attacks him, I have seen something like this in the case of Trump, can you only imagine that things turn Around and he Eins? What will the crypto policies be like here? Will they accept them to pay tax for Using online Casinos?

The corruption and issues in your country, especially around crypto and taxation, are disappointing. Unfortunately, corruption is a global issue, and it's irritating when governments don't act in their citizens' best interests. Wouldn't people pay more taxes if governments provided better services? Don't they? Why not pay taxes on crypto revenues if the government is honest?

Hearing that the government can seize assets without cause is worrisome. That's wrong. It's not. Politicians - isn't politics messy? As you noted, US politics is complex. Isn't it entertaining to watch politicians quarrel, play nasty, and disrespect one other? What if circumstances change? Suppose they do? How will crypto change if Trump returns? Will online casinos be taxed? All so unpredictable, right?


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Dimitri94 on October 07, 2023, 11:42:05 AM
In the country where I live in this isn't a problem (at least from what I know), and unless you won the super lotto granting you a hundred thousand dollar prize in the process you won't be taxed for what you earned while you gamble. I've earned a sizable amount from my games at a local casino that I used to frequent in, I used to play on government-sanctioned online casinos as well, I guess from where I live the tax is already pre-cut from what you pay when you gamble like the tokens, the spins, and all that stuff cause I never had the tax man knock on my door on a cold and dreary night asking me where my gambling tax report is.

And yeah before our capitalist friends come flocking in here I just wanna say living in the Philippines isn't the best right now especially since the whole country's in some sort of political turmoil. Be wary and take every Pinoybaiting vlogger's words with a grain of salt.

So you mean only the gambler who win the big money alone need to pay taxes.If so then you can do the gambling with the minimum limit to avoid of pay taxes to the gambling.Actually no one will not worry to pay taxes after the big super lotto,if the gambler not ready to pay taxes after the big win.Such gambler is so greedy to get all the money to his own pocket and not ready to pay taxes.But the gambler had won the money from the gambling,which is the free win.So the paying of taxes for the win will help the government to create a good scheme to people.

Yeah that’s what we call the progressive tax in our country. Like the more you earn, the more you pay. Anyway, gamblers may not opt to gamble and win a little because usually when you play, the higher the risk or bet, the higher the winnings right? Those casinos or games that are legally registered pay taxes too and they gain benefits from it that’s why before they give the winnings to the winners, it is already net of tax. But yeah not hundred percent of taxes paid is properly spent by the government
If governments do not spend tax money properly they have to take responsibility for it. But the point is that a gambler can pay more tax if he wins big but if he lost his money then my question will govt pay or help the gamblers? If they able to do this then gambler have no problem but it is not possible. The casino or gambling company deducts the appropriate amount for each bet. So government can only force casino or any gambling authority for taxation. But no individual gambler should have any liability in relation to tax.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: mak013 on October 07, 2023, 06:28:08 PM
~snip~
I don`t sure about taxes in online casino. Someone told me that the online casino makes the same as offline - from some sum they reduce your withdrawal for taxes. But i don`t sure that it is so - i haven`t seen it myself.
Gambling in online casino is nice for gambling anywhere. The same time gambling in offline casino gives you very bright emotions. So if i have an opportunity - i try to visit offline casino during vacation.
It seems like there are taxes in online casinos, but we, as gamblers in online casinos, do not pay these taxes unless our country's government knows that we also play online gambling in crypto casinos. But so far, many people can gamble at crypto casinos freely and without paying taxes to their local government. They also don't pay taxes when they can withdraw their winnings to their local bank, but they still pay taxes for other things that are not related to gambling.

I haven't visited offline casinos and only gamble at online crypto casinos. I did visit one of the local fiat-based casinos, but I think I still prefer gambling at a crypto casino using crypto. It gives me the freedom to use the coins instead of having to deposit fiat into my gambling account.
All online casino i played support both cryptocurrencies and fiat money. So i think that they have to pay taxes, at least for the part that works with fiat money. For me doesn`t matter, online, offline or cryptocurrencies - i gamble in all casino i like. But my game style differs. So the big sum with one draft i withdrew only in offline casino. I heard that if i want to withdraw big sum in online casino, they will pay taxes for me from my prize and i don`t want to test it - in online casino i can withdraw small sums one by one without any troubles for me.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: 8rch7 on October 07, 2023, 07:05:21 PM
Due fiat gambling not get legal operation in my country never pay tax yet and easily to manipulate about winning trend in gambling platform due we are participating in cryptocurrency gambling platform. I think regulation of gambling platform in some country will make us have to pay tax or not exactly with gambling platform with fiat support and automatically with tax reduce when withdrawing transaction process. For cryptocurrency gambling seems not adopt with tax regulation and easily for gambler not necessary have to pay tax although with cryptocurrency transaction have adopted with tax before in their country.

Not agree with tax have adopt on every transaction kinds, less trust with government and politician about tax advantage not giving for the citizen make me not trusted with the government regulation exactly with tax.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Coin_trader on October 07, 2023, 07:09:47 PM
Due fiat gambling not get legal operation in my country never pay tax yet and easily to manipulate about winning trend in gambling platform due we are participating in cryptocurrency gambling platform.


Lmao, why you are still gambling if online is illegal? It’s no brainer that you don’t need to pay taxes since the government doesn’t charge taxes on illegal things because it’s prohibited to do so. You are breaking the law by playing online gambling alone.


Not agree with tax have adopt on every transaction kinds, less trust with government and politician about tax advantage not giving for the citizen make me not trusted with the government regulation exactly with tax.

You don’t need to agree on paying taxes matter because you are not eligible to any gambling services online. You personally is more not trusted than your government trying to regulate gambling on your country.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Aanuoluwatofunmi on October 07, 2023, 07:21:47 PM
If governments do not spend tax money properly they have to take responsibility for it. But the point is that a gambler can pay more tax if he wins big but if he lost his money then my question will govt pay or help the gamblers? If they able to do this then gambler have no problem but it is not possible. The casino or gambling company deducts the appropriate amount for each bet. So government can only force casino or any gambling authority for taxation. But no individual gambler should have any liability in relation to tax.

Either the government spend the money wisely or not there's nothing we can do about it because they are the ones in charge, they make use of their power to influence every decision making stage, what they can ensure is your own adherence towards paying tax and once you paid yours, there's nothing much expected of you than to watch them do it as they like, we have no right to sue them while if we challenge them, they will take a legal action as against us as well, if you don't pay your tax, you will also face their legal law.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: maydna on October 08, 2023, 12:29:35 PM
~snip~
All online casino i played support both cryptocurrencies and fiat money. So i think that they have to pay taxes, at least for the part that works with fiat money. For me doesn`t matter, online, offline or cryptocurrencies - i gamble in all casino i like. But my game style differs. So the big sum with one draft i withdrew only in offline casino. I heard that if i want to withdraw big sum in online casino, they will pay taxes for me from my prize and i don`t want to test it - in online casino i can withdraw small sums one by one without any troubles for me.
It's great if the online casino you play at can support all currencies, crypto and fiat so you can choose which one you want to gamble with. And casinos pay their taxes to the regulator but I don't know how online casinos pay their taxes. Maybe the online casino sends its tax report to the regulator and the regulator checks it and receives the tax payment. And regarding the players who gamble at the casino, there may be some who do not pay taxes to the government because there are no regulations regarding paying taxes originating from gambling income. Or I may be wrong on this because I don't know this. The important thing is that while you are gambling, you have found what you are looking for, you feel comfortable gambling, that's all that matters and you also don't pay taxes.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: goinmerry on October 08, 2023, 11:27:31 PM
So, question to you, did you ever consider paying taxes on your gambling winnings, or deduct the taxes with the losses you've created? If not, what is the reasoning behind it?

If I'm well aware that there should be a tax on part of the winnings and that was stated in the Terms of Service of the site, I would comply with it.

However it should be only applied to local gambling sites and not global sites. I mean, why should I pay taxes for gambling sites outside my country?

It just common to see tax applied on gambling winnings especially those regulated by the government.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: South Park on October 09, 2023, 06:03:57 PM
So, question to you, did you ever consider paying taxes on your gambling winnings, or deduct the taxes with the losses you've created? If not, what is the reasoning behind it?

If I'm well aware that there should be a tax on part of the winnings and that was stated in the Terms of Service of the site, I would comply with it.

However it should be only applied to local gambling sites and not global sites. I mean, why should I pay taxes for gambling sites outside my country?

It just common to see tax applied on gambling winnings especially those regulated by the government.
If a casino is claiming they are deducting a part of your earnings as a form of tax that you need to pay on the jurisdiction on which the casino was created, they are scamming you, regardless of where you get your income the majority of the countries of the world charge taxes based on where you live, with a minority doing so based on your nationality, so no casino has the right to take away a single cent out of your profits once you make a withdrawal.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: mvdheuvel1983 on October 09, 2023, 09:41:08 PM

We don't have this in our country and I don't include it in my tax report I'm not a whale and I never made a profit from my gambling I win some but most of the time I lose and I don't want to deduct my losses to my tax, gambling for me is only recreational, our government does not charge taxes to small time gamblers but it's different when you win a lottery which the favorite gambling form in our country.
They deduct 20% from your winning of course since the government run the casino and lottery they targeted big winners instead of small bettors.
Tax is good for the society sure I believe that everyone should pay tax we want your society to grow. Paying tax from your casino winnings and even losses is the right thing to do at every Gambler should pay their tax if they will live in an environment where this is compulsory.

We shouldn't evade taxes today and talk how government bad tomorrow.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: mak013 on October 10, 2023, 08:02:18 AM
~snip~
All online casino i played support both cryptocurrencies and fiat money. So i think that they have to pay taxes, at least for the part that works with fiat money. For me doesn`t matter, online, offline or cryptocurrencies - i gamble in all casino i like. But my game style differs. So the big sum with one draft i withdrew only in offline casino. I heard that if i want to withdraw big sum in online casino, they will pay taxes for me from my prize and i don`t want to test it - in online casino i can withdraw small sums one by one without any troubles for me.
It's great if the online casino you play at can support all currencies, crypto and fiat so you can choose which one you want to gamble with. And casinos pay their taxes to the regulator but I don't know how online casinos pay their taxes. Maybe the online casino sends its tax report to the regulator and the regulator checks it and receives the tax payment. And regarding the players who gamble at the casino, there may be some who do not pay taxes to the government because there are no regulations regarding paying taxes originating from gambling income. Or I may be wrong on this because I don't know this. The important thing is that while you are gambling, you have found what you are looking for, you feel comfortable gambling, that's all that matters and you also don't pay taxes.
I think that they have to pay taxes. But it is possible that they don`t pay taxes for bets in cryptocurrencies. As i know, there is no country where tax service know how to calculate cryptocurrencies. In such situation the casino has to convert cryptocurrencies in the fiat money, calculate taxes, convert fiat money back to cryptocurrencies. I don`t know any casino that ready to do it to pay taxes. Anyway it is not my problem. I have the way to get my prize without paying taxes and it is enough for me.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: redsun114 on October 10, 2023, 04:26:20 PM
So, question to you, did you ever consider paying taxes on your gambling winnings, or deduct the taxes with the losses you've created? If not, what is the reasoning behind it?
If I'm well aware that there should be a tax on part of the winnings and that was stated in the Terms of Service of the site, I would comply with it.

However it should be only applied to local gambling sites and not global sites. I mean, why should I pay taxes for gambling sites outside my country?

It just common to see tax applied on gambling winnings especially those regulated by the government.
It doesn't depend on whether the casino you are using is operating within your country or not, if your country has a regulation and laws regarding gambling and gambling winnings are taxed, then you are obliged to pay your taxes, if they don't catch you getting winnings from an international online casino platform and you don't pay it, you are basically doing tax evasion which if found can get you in trouble and you will most probably face legal consequences.

So, I don't think that you are only supposed to pay taxes for winnings that you get from local gambling sites and not from international platforms because the money that you win is actually yours and the tax collecting authorities don't really care about the platform that you used to get the money, all they want is their share.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: LUCKMCFLY on October 11, 2023, 12:35:59 AM
This is assuming that you live in a country in which the law is respected and the level of corruption is on the low side, as there are many countries out there in which this is not the case and the majority of the money that you pay on taxes is being stolen by corrupt politicians and rich people, in that case I think there is a compelling argument to try to reduce the taxes that you pay as much as possible by the use of any loophole that may exist on the law.
That is why I don't judge people who avoid paying taxes over their earnings. They aren't acting morally, as they go against a moral code defined by the country, but at same time I don't think they are unethical for doing this, since that money would feed more injustice on their local socities perpetrated by politicians, authorities in general and businessmen (especially the ones from big corporations).

It's not fair for a gambler to risk his own money (most of them losing on long term) to be enforced to share his winnings in a large percentage with a government which doesn't give anything back to that individual in form of public services in counterpart.

That's right, exactly that's what happens, because of those issues we should not generalize, if in my case I lived in a country where things partially worked well, the government would not be so corrupt, one with all the pleasure of the world pay the tax even with Crypto, if it is in a crypto casino then even I would pay it, but being in a government that is not corrupt, because I know that this will help the country grow, and that is something that is worth it, because by having taxes to provide good service in technology, in clinics, in things that are in favor of Continuing to improve, people would not evade taxes, but taxes in eteos are evaded when it is in crypto, but the That's the reason, for example in my country, if they give away only the crypto issues based on mining, if they don't register with the government agency they put the person in prison, but if they register everything, then the government has all the information and if it occurs to them to go after the apartments of a Particular person and take them, they can do it, then that is not only correct, because they say that the government needs it and that's it, just like that they take the teams and leave the Company with Nothing , because that has happened many times, then they are corrupt, thieves and abusive.

For these reasons I have a very clear thought about politicians in the world, for me none of them are worth it, I only notice the US Government , the candidates as they are are fighting, they play dirty and they bully each other. pesnarq eu are colleagues, where they are not Respected , they send Organizations ready so that they can leave , Leave everything in the hands of the laws, which only apply in their favor, by the way there is no law, when they try to defend themselves against a great politician. A person cannot defend himself much because the Tabloid press attacks him, I have seen something like this in the case of Trump, can you only imagine that things turn Around and he Eins? What will the crypto policies be like here? Will they accept them to pay tax for Using online Casinos?

The corruption and issues in your country, especially around crypto and taxation, are disappointing. Unfortunately, corruption is a global issue, and it's irritating when governments don't act in their citizens' best interests. Wouldn't people pay more taxes if governments provided better services? Don't they? Why not pay taxes on crypto revenues if the government is honest?

Hearing that the government can seize assets without cause is worrisome. That's wrong. It's not. Politicians - isn't politics messy? As you noted, US politics is complex. Isn't it entertaining to watch politicians quarrel, play nasty, and disrespect one other? What if circumstances change? Suppose they do? How will crypto change if Trump returns? Will online casinos be taxed? All so unpredictable, right?

Well, they are very nice Questions , I speak because I know that in my Country it is like that, for whatever reason the Government wants to take advantage of the Circumstance and can do Whatever it takes to get its Way , I have seen how some miners are imprisoned and taken from them. their machines are Bitcoin miners, and then they use them , so in my opinion that is dirty play, for a country that is relatively rich, because things are Usually quite strong because everything should be better, because a country that has renewable natural resources and Don't Renounce them, because these are things that anyone is going to say and talk about their Government , in the Chaos that I am in, it is because my country was the richest in the world, it was more developed than Dubai itself , but with so Much presence of oil, gold, precious stones , well things are not working well, but why? because when things are treated like managing a country , all the money that is extracted is for them and for the daddies under which they make their cakes, so based on this it cannot be speculated what for a government that does things wrong Well, you have to be on good terms with them in tax matters, because they make money out of anything, which seems worse to me.

I don't know how things will be in the USA, but I think there isn't that much corruption there, in third world countries there is corruption, but I know that inflation is affecting the USA in a big way, maybe that's why in In this country things are so radical when it comes to paying taxes, in fact I don't know what the laws will be like Regarding crypto , I know that in the USA Almost all Casinos can't Operate , fortunately Stake.us Does , so I don't know if the people who make transactions, play in the USA have to pay, I know that with the Exchanges not even Binance can operate there, I don't know the reason, that's because when things are about making big Money , they are there Present , this is something that It seems quite ambiguous to me.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Wiwo on October 11, 2023, 09:09:42 PM
In the country where I live in this isn't a problem (at least from what I know), and unless you won the super lotto granting you a hundred thousand dollar prize in the process you won't be taxed for what you earned while you gamble. I've earned a sizable amount from my games at a local casino that I used to frequent in, I used to play on government-sanctioned online casinos as well, I guess from where I live the tax is already pre-cut from what you pay when you gamble like the tokens, the spins, and all that stuff cause I never had the tax man knock on my door on a cold and dreary night asking me where my gambling tax report is.

And yeah before our capitalist friends come flocking in here I just wanna say living in the Philippines isn't the best right now especially since the whole country's in some sort of political turmoil. Be wary and take every Pinoybaiting vlogger's words with a grain of salt.

So you mean only the gambler who win the big money alone need to pay taxes.If so then you can do the gambling with the minimum limit to avoid of pay taxes to the gambling.Actually no one will not worry to pay taxes after the big super lotto,if the gambler not ready to pay taxes after the big win.Such gambler is so greedy to get all the money to his own pocket and not ready to pay taxes.But the gambler had won the money from the gambling,which is the free win.So the paying of taxes for the win will help the government to create a good scheme to people.

Yeah that’s what we call the progressive tax in our country. Like the more you earn, the more you pay. Anyway, gamblers may not opt to gamble and win a little because usually when you play, the higher the risk or bet, the higher the winnings right? Those casinos or games that are legally registered pay taxes too and they gain benefits from it that’s why before they give the winnings to the winners, it is already net of tax. But yeah not hundred percent of taxes paid is properly spent by the government
Tax officials are only after jackpot winners and not small petty gamblers winning and since their already know how and what it is with gambling and it winning the highest way the could get gamblers to pay tax is through the value-added taxes from the governments on basic goods in the country and bills that individuals pays.

There are lots of ways that the government can generate taxes and most times the gamblers are already paying taxes without them even knowing since  have they been collected indirectly.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Doan9269 on October 11, 2023, 09:17:21 PM
If governments do not spend tax money properly they have to take responsibility for it. But the point is that a gambler can pay more tax if he wins big but if he lost his money then my question will govt pay or help the gamblers? If they able to do this then gambler have no problem but it is not possible. The casino or gambling company deducts the appropriate amount for each bet. So government can only force casino or any gambling authority for taxation. But no individual gambler should have any liability in relation to tax.

You'd better asked they spend it judiciously because if they don't you have nothing to do about it, tax is everyone entitlement to pay for and also to receive the benefits of what the money received was being used for, but if we are to look into the gambling sector well, only the gambling organizations are keeping well to paying their tax unlike the gamblers on every successful bets they won, people take that as bonus opportunity to spend their entire winning on gambling forgetting to pay tax or refusing to pay because they think its not necessary on gambling.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: milewilda on October 11, 2023, 09:17:30 PM
In the country where I live in this isn't a problem (at least from what I know), and unless you won the super lotto granting you a hundred thousand dollar prize in the process you won't be taxed for what you earned while you gamble. I've earned a sizable amount from my games at a local casino that I used to frequent in, I used to play on government-sanctioned online casinos as well, I guess from where I live the tax is already pre-cut from what you pay when you gamble like the tokens, the spins, and all that stuff cause I never had the tax man knock on my door on a cold and dreary night asking me where my gambling tax report is.

And yeah before our capitalist friends come flocking in here I just wanna say living in the Philippines isn't the best right now especially since the whole country's in some sort of political turmoil. Be wary and take every Pinoybaiting vlogger's words with a grain of salt.

So you mean only the gambler who win the big money alone need to pay taxes.If so then you can do the gambling with the minimum limit to avoid of pay taxes to the gambling.Actually no one will not worry to pay taxes after the big super lotto,if the gambler not ready to pay taxes after the big win.Such gambler is so greedy to get all the money to his own pocket and not ready to pay taxes.But the gambler had won the money from the gambling,which is the free win.So the paying of taxes for the win will help the government to create a good scheme to people.

Yeah that’s what we call the progressive tax in our country. Like the more you earn, the more you pay. Anyway, gamblers may not opt to gamble and win a little because usually when you play, the higher the risk or bet, the higher the winnings right? Those casinos or games that are legally registered pay taxes too and they gain benefits from it that’s why before they give the winnings to the winners, it is already net of tax. But yeah not hundred percent of taxes paid is properly spent by the government
Tax officials are only after jackpot winners and not small petty gamblers winning and since their already know how and what it is with gambling and it winning the highest way the could get gamblers to pay tax is through the value-added taxes from the governments on basic goods in the country and bills that individuals pays.

There are lots of ways that the government can generate taxes and most times the gamblers are already paying taxes without them even knowing since  have they been collected indirectly.
Taxation could really be only applied if you do make yourself get involved with those local based physical casinos or you've been playing on a local based online ones on which this is where your government would really be strict in implementing out those kind of decisions but its true that they would really be coming after with those jackpot winners on which it would really be just that normal that they would really be that serious or really that coming after them knowing that amounts arent really that something that they could ignore with. This is where i do end up on trying out to play on crypto casino based platforms on which even though i didnt hit up some jackpot but i do know some of my fellow countrymen who had made out some huge wins in crypto casinos but ending up on having zero tax with it and completely be able to convert it out on local fiat
without any hassle or problems or talks about taxes.

This is why i could really be able to say that it is really just that only applicable into those local casinos physically and with those state lottery winners where those winning amounts
had already been deducted with some nasty tax with it.  :D


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Wiwo on October 11, 2023, 09:56:26 PM

Taxation could really be only applied if you do make yourself get involved with those local based physical casinos or you've been playing on a local based online ones on which this is where your government would really be strict in implementing out those kind of decisions but its true that they would really be coming after with those jackpot winners on which it would really be just that normal that they would really be that serious or really that coming after them knowing that amounts arent really that something that they could ignore with. This is where i do end up on trying out to play on crypto casino based platforms on which even though i didnt hit up some jackpot but i do know some of my fellow countrymen who had made out some huge wins in crypto casinos but ending up on having zero tax with it and completely be able to convert it out on local fiat
without any hassle or problems or talks about taxes.

This is why i could really be able to say that it is really just that only applicable into those local casinos physically and with those state lottery winners where those winning amounts
had already been deducted with some nasty tax with it.  :D
I agree with that also,  because we have some land based casinos that have licensed and most comply with regulations and any gambler that enter the casino is meant to understand the rules before they start gambling there,  although in some cases it when the gambler wins that the casino will inform him or her about the tax implication and amount on his winnings and this is something that have angered some gamblers a few time,  the way and manner at which government have used to take taxes from gamblers is in collaboration with the casino and in most cases some of them already have the tax deduction before making payment for the game winning.

Some time I still think that,  there are other ways that the casino makes their money through this tax collections because no one know if they're truly remitting this money to the government,  or if they are just using the so-called tax to steal gamblers' money,  it will be better of either government collect the money directly or the gambler should be meant to pay the tax himself.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: shasan on October 11, 2023, 10:50:28 PM
How much a gambler earns and how much he loses from gambling is known only to that gambler. Now if the gambler wins a large amount of money, he may be inclined to pay the tax, if he wins a small amount the gambler will be more inclined to ignore it. Now since the gambler gambles online only the gambler can know the amount of money he has won and no one can force him to pay tax. And gambling sites pay huge amount of tax, because they earn huge amount of money.

So if a common gambler feels that his main source of income is gambling and he should pay his income tax then he can. But I think it would not be a good decision for me to think about paying tax without winning big.
Those who are not allowed to gamble are free from providing any tax to his/her govt like Bangladesh. And those who are allowed to gamble if anyone needs to show any return of gambling then s/he must need to do that. Because when you get an amount you may ask for time to provide the details. If you do not give return details then you will be caught. As far as I know, you must give a return of the total profit or loss.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: South Park on October 16, 2023, 07:51:09 PM

Taxation could really be only applied if you do make yourself get involved with those local based physical casinos or you've been playing on a local based online ones on which this is where your government would really be strict in implementing out those kind of decisions but its true that they would really be coming after with those jackpot winners on which it would really be just that normal that they would really be that serious or really that coming after them knowing that amounts arent really that something that they could ignore with. This is where i do end up on trying out to play on crypto casino based platforms on which even though i didnt hit up some jackpot but i do know some of my fellow countrymen who had made out some huge wins in crypto casinos but ending up on having zero tax with it and completely be able to convert it out on local fiat
without any hassle or problems or talks about taxes.

This is why i could really be able to say that it is really just that only applicable into those local casinos physically and with those state lottery winners where those winning amounts
had already been deducted with some nasty tax with it.  :D
I agree with that also,  because we have some land based casinos that have licensed and most comply with regulations and any gambler that enter the casino is meant to understand the rules before they start gambling there,  although in some cases it when the gambler wins that the casino will inform him or her about the tax implication and amount on his winnings and this is something that have angered some gamblers a few time,  the way and manner at which government have used to take taxes from gamblers is in collaboration with the casino and in most cases some of them already have the tax deduction before making payment for the game winning.

Some time I still think that,  there are other ways that the casino makes their money through this tax collections because no one know if they're truly remitting this money to the government,  or if they are just using the so-called tax to steal gamblers' money,  it will be better of either government collect the money directly or the gambler should be meant to pay the tax himself.
I really think that casinos claiming to keep some of the money you are withdrawing to pay your taxes to be a form of scam, after all do you think casinos will have a legal team on more than one hundred countries and deal with each one of the weird and difficult laws that each jurisdiction may have? It is way easier for a legitimate casino to just give you all your money and then send your local government some information about who you are so they know about your profits.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: LUCKMCFLY on October 22, 2023, 04:19:39 PM

Taxation could really be only applied if you do make yourself get involved with those local based physical casinos or you've been playing on a local based online ones on which this is where your government would really be strict in implementing out those kind of decisions but its true that they would really be coming after with those jackpot winners on which it would really be just that normal that they would really be that serious or really that coming after them knowing that amounts arent really that something that they could ignore with. This is where i do end up on trying out to play on crypto casino based platforms on which even though i didnt hit up some jackpot but i do know some of my fellow countrymen who had made out some huge wins in crypto casinos but ending up on having zero tax with it and completely be able to convert it out on local fiat
without any hassle or problems or talks about taxes.

This is why i could really be able to say that it is really just that only applicable into those local casinos physically and with those state lottery winners where those winning amounts
had already been deducted with some nasty tax with it.  :D
I agree with that also,  because we have some land based casinos that have licensed and most comply with regulations and any gambler that enter the casino is meant to understand the rules before they start gambling there,  although in some cases it when the gambler wins that the casino will inform him or her about the tax implication and amount on his winnings and this is something that have angered some gamblers a few time,  the way and manner at which government have used to take taxes from gamblers is in collaboration with the casino and in most cases some of them already have the tax deduction before making payment for the game winning.

Some time I still think that,  there are other ways that the casino makes their money through this tax collections because no one know if they're truly remitting this money to the government,  or if they are just using the so-called tax to steal gamblers' money,  it will be better of either government collect the money directly or the gambler should be meant to pay the tax himself.
I really think that casinos claiming to keep some of the money you are withdrawing to pay your taxes to be a form of scam, after all do you think casinos will have a legal team on more than one hundred countries and deal with each one of the weird and difficult laws that each jurisdiction may have? It is way easier for a legitimate casino to just give you all your money and then send your local government some information about who you are so they know about your profits.

Well, I didn't know that there were some casinos that say that, the truth is I think that sometimes the Casnios take it away because they have to Pay the withdrawal fee, which seems normal to me, because of the miners' fee, although some casinos Assume that fee , but Nevertheless I can say that the casinos that do and say that are doing things wrong , I would not take it well because it should not be like that, I believe that each player if they have to pay their tax , what they should do is That's it, the casino shouldn't be put there, Although I wouldn't see anything bad if the casino only paid taxes, it would be something great, if we Look at it from that point of View it Would be ideal but it's not like that, it's the first time that I see that a I can't ask for that information or say that they can do those things, which I think is very Difficult, Personally, if a casino Tells me that , then I would think badly, and I wouldn't have any trust in them.

In this order of ideas, things when it comes to casinos that do Things like this are very bad, personally I would stay away from a case like that, because obviously it is not true, the casino cannot have access to the things that They have to do with people's taxes , or at Least they have a special function, I personally would say that when it comes to doing things better, the casino can make a difference, although that would be a mistake that They should promote themselves, because it would be something very new, and the truth is that it surprises me a lot.

Now if this is a new function then I would think that Things in casinos are generating new ways of doing things better and even with the inclusion of doing new things and improvements for people, I think it is not bad at all, now If things are focusing on the best they can demonstrate in a casino, I would like to know how they would be able to access the systems where they pay with the KYC of the people?


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Wiwo on October 22, 2023, 06:41:58 PM

In this order of ideas, things when it comes to casinos that do Things like this are very bad, personally I would stay away from a case like that, because obviously it is not true, the casino cannot have access to the things that They have to do with people's taxes , or at Least they have a special function, I personally would say that when it comes to doing things better, the casino can make a difference, although that would be a mistake that They should promote themselves, because it would be something very new, and the truth is that it surprises me a lot.

Why many of us rooting for casinos to deduct taxes from gamblers' funds before their withdrawal this makes it better and easier for the tax remittance and if you think that,  casinos won't be sincere in their dealing as regards to the tax remittances to the government then that is another thing entirely to worry about at some point and the government should already have systems in place to checkmate such possible lapses that may come up from time to time and how best to properly collect all the taxes and put them good use for the benefits of the general populations.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: erep on October 22, 2023, 07:14:11 PM
Why many of us rooting for casinos to deduct taxes from gamblers' funds before their withdrawal this makes it better and easier for the tax remittance and if you think that,  casinos won't be sincere in their dealing as regards to the tax remittances to the government then that is another thing entirely to worry about at some point and the government should already have systems in place to checkmate such possible lapses that may come up from time to time and how best to properly collect all the taxes and put them good use for the benefits of the general populations.
The government has no integration with tax deduction reports from the gambling system, but casinos may have to attach financial reports for tax payments to the government, bad casinos will take advantage of the benefits of tax deductions and they only pay half of the tax funds to the government because the government does not know the actual amount of taxes paid taxes must be paid from the casino, but some countries are not transparent about the use of tax funds for community needs, so I think some of the tax funds are donated to poor communities or trusted charities distribute donations to the community.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: South Park on October 23, 2023, 06:35:28 PM

In this order of ideas, things when it comes to casinos that do Things like this are very bad, personally I would stay away from a case like that, because obviously it is not true, the casino cannot have access to the things that They have to do with people's taxes , or at Least they have a special function, I personally would say that when it comes to doing things better, the casino can make a difference, although that would be a mistake that They should promote themselves, because it would be something very new, and the truth is that it surprises me a lot.

Why many of us rooting for casinos to deduct taxes from gamblers' funds before their withdrawal this makes it better and easier for the tax remittance and if you think that,  casinos won't be sincere in their dealing as regards to the tax remittances to the government then that is another thing entirely to worry about at some point and the government should already have systems in place to checkmate such possible lapses that may come up from time to time and how best to properly collect all the taxes and put them good use for the benefits of the general populations.
Such a thing would make sense if we were talking about one of those lotteries that is owned by your local government, this way whatever taxes you will have to pay could be immediately subtracted from the money they were about to pay you and you will get rid of the worry of having to pay those taxes, but other than that casinos keeping some of your profits in order to pay your taxes at a country that could be at the other side of the world does not make much sense to me.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Dunamisx on October 23, 2023, 09:02:14 PM
Why many of us rooting for casinos to deduct taxes from gamblers' funds before their withdrawal this makes it better and easier for the tax remittance and if you think that,  casinos won't be sincere in their dealing as regards to the tax remittances to the government then that is another thing entirely to worry about at some point and the government should already have systems in place to checkmate such possible lapses that may come up from time to time and how best to properly collect all the taxes and put them good use for the benefits of the general populations.
The government has no integration with tax deduction reports from the gambling system, but casinos may have to attach financial reports for tax payments to the government, bad casinos will take advantage of the benefits of tax deductions and they only pay half of the tax funds to the government because the government does not know the actual amount of taxes paid taxes must be paid from the casino, but some countries are not transparent about the use of tax funds for community needs, so I think some of the tax funds are donated to poor communities or trusted charities distribute donations to the community.

We should know this that government don't joke with anything that deals with the way we handle our tax payment, especially the regulated industries under the control of centralized institutions, they will come to us in making demands even when we fail to make payment to them, except if what we do is what tht does not need a physical appearance or registration proof for both gamblers and the gambling organization, for every state, zone or business appearance, there's a stipulated amount assigned under each category for nthe tax payment


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: LUCKMCFLY on October 25, 2023, 12:41:27 PM

In this order of ideas, things when it comes to casinos that do Things like this are very bad, personally I would stay away from a case like that, because obviously it is not true, the casino cannot have access to the things that They have to do with people's taxes , or at Least they have a special function, I personally would say that when it comes to doing things better, the casino can make a difference, although that would be a mistake that They should promote themselves, because it would be something very new, and the truth is that it surprises me a lot.

Why many of us rooting for casinos to deduct taxes from gamblers' funds before their withdrawal this makes it better and easier for the tax remittance and if you think that,  casinos won't be sincere in their dealing as regards to the tax remittances to the government then that is another thing entirely to worry about at some point and the government should already have systems in place to checkmate such possible lapses that may come up from time to time and how best to properly collect all the taxes and put them good use for the benefits of the general populations.

There are many things that really cannot be understood from people, but I also think that some people are like that, because they are from countries where basically their economies are very prosperous and the degree of corruption is almost zero, so I understand that position, I also don't support many things that involve taxes on people for using the cryto casino, which should be paid to governments, that's not it, because this is crypto, neither governments, nor banks, nor anyone who wants to interfere with their treatment should poke their noses in here. To get a cut of what they shouldn't, some people don't have much problem with a casino debiting that, well each person is different, each person decides what to do with their money, but they should give this as an option and not as something mandatory, this is the only thing I think can happen, and personally I would think that things when it comes to how to have a casino to include in this, then very soon they will have access to what we buy and what we don't buy, and Like the casino that enforces KYC, through that they can provide it to the government, because the government will know what they buy and what they don't buy, that is something that will come and privacy will end.

The good thing about Blockchain technology and Bitcoin is that through this those who are working to provide their data well and their way of acting is of their own free will and not because it is something mandatory, governments through KYC force what they want the casinos, the exchanges, and so they can obtain only a part of the information to be able to access these types of information that for me this is a lot and that should never be provided, so things must go in that direction, because at the rate that we are going We are not going to have even the slightest privacy, everyone will already know who is who and with a photo and everything, that is what we are going to get, those who do not want to know who it is or something simple, they have to be deleted from a system that we ourselves are even defending.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: danadc on October 29, 2023, 10:23:35 PM
Casinos are many ways to Consider that they can be good for having Fun, not for paying taxes with them, much less paying mone. Is it a luxury? In a casino that uses local money, or in a fiat-style casino, yes, but in that case it is difficult to pay an Additional tax , I have never done Something like that, or is it because in my goal Statement that I play sometimes In lso casnios, I don't see it necessary, furthermore they don't give me the option, only in others , where the Others specifications Appear in the Formularies, well that may be where I go , but I haven't seen nobody who has to declare tax for Play in online Casino.



Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: passwordnow on October 29, 2023, 10:58:31 PM
I don't win a lot with my bets so those taxation that's on certain amounts, I haven't done so. And I think the majority of the gamblers that are just lowkey or not so big gamblers, they don't have the time to do such filings of their tax because all they have is small profits that can be just from two digits to three digits in a month. But if I am like those lottery winners who have been winning like a hundred grand to millions in dollars, of course, and no doubt that I have to file for the tax because it's one of the gains that can be considered to be taxable. But if there is a rule that says that it is tax-free and non taxable then you got to enjoy the entire amount without paying the tax. And for the taxation, it's best to just have this coordination with the casinos but are they classified to be good connections with the government in terms of tax because many seem to be hiding a lot of wealth under the casinos.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Westinhome on October 29, 2023, 11:03:59 PM
I don't win a lot with my bets so those taxation that's on certain amounts, I haven't done so. And I think the majority of the gamblers that are just lowkey or not so big gamblers, they don't have the time to do such filings of their tax because all they have is small profits that can be just from two digits to three digits in a month. But if I am like those lottery winners who have been winning like a hundred grand to millions in dollars, of course, and no doubt that I have to file for the tax because it's one of the gains that can be considered to be taxable. But if there is a rule that says that it is tax-free and non taxable then you got to enjoy the entire amount without paying the tax. And for the taxation, it's best to just have this coordination with the casinos but are they classified to be good connections with the government in terms of tax because many seem to be hiding a lot of wealth under the casinos.

Most of the gambler was the margin gamblers,the big gambler will be 4-5 percentage in all the gambling sites.So the low gambler winning also low based on their deposit.Only the gambler with more and more money from the gambling win need to pay the taxes.So the tax is not the big issue for the gamblers on the involvement to the gambling sites.From the margin gamblers,few will win the big money.So such people need to pay the taxes for the win.The high winning gambler doesn’t consider the taxes because they only paying the taxes to the government  from the winning money and not their own money.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: passwordnow on October 29, 2023, 11:18:58 PM
I don't win a lot with my bets so those taxation that's on certain amounts, I haven't done so. And I think the majority of the gamblers that are just lowkey or not so big gamblers, they don't have the time to do such filings of their tax because all they have is small profits that can be just from two digits to three digits in a month. But if I am like those lottery winners who have been winning like a hundred grand to millions in dollars, of course, and no doubt that I have to file for the tax because it's one of the gains that can be considered to be taxable. But if there is a rule that says that it is tax-free and non taxable then you got to enjoy the entire amount without paying the tax. And for the taxation, it's best to just have this coordination with the casinos but are they classified to be good connections with the government in terms of tax because many seem to be hiding a lot of wealth under the casinos.

Most of the gambler was the margin gamblers,the big gambler will be 4-5 percentage in all the gambling sites.So the low gambler winning also low based on their deposit.Only the gambler with more and more money from the gambling win need to pay the taxes.So the tax is not the big issue for the gamblers on the involvement to the gambling sites.
Yeah, I am one of those margin gamblers and it doesn't give me that much profits at all or whenever I make some profits just as you've said with that percentage, I also gamble it since I can afford to do so and what happens next isn't a secret that all of them are also being lost because I've decided to gamble them all.

From the margin gamblers,few will win the big money.So such people need to pay the taxes for the win.The high winning gambler doesn’t consider the taxes because they only paying the taxes to the government  from the winning money and not their own money.
This is true that only few will win such amounts and then that's why if you're also part of the margin gamblers based on the definition that you've given then that means that we're not that much in profits and we don't have issues in taxes because we don't have a lot of it compared to the big gamblers that are winning a lot. And on the latter part that you've said, it applies for both margin and big gamblers that we're all taxed based on our winnings of course and not with our personal money.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: LUCKMCFLY on October 29, 2023, 11:47:35 PM

In this order of ideas, things when it comes to casinos that do Things like this are very bad, personally I would stay away from a case like that, because obviously it is not true, the casino cannot have access to the things that They have to do with people's taxes , or at Least they have a special function, I personally would say that when it comes to doing things better, the casino can make a difference, although that would be a mistake that They should promote themselves, because it would be something very new, and the truth is that it surprises me a lot.

Why many of us rooting for casinos to deduct taxes from gamblers' funds before their withdrawal this makes it better and easier for the tax remittance and if you think that,  casinos won't be sincere in their dealing as regards to the tax remittances to the government then that is another thing entirely to worry about at some point and the government should already have systems in place to checkmate such possible lapses that may come up from time to time and how best to properly collect all the taxes and put them good use for the benefits of the general populations.
Such a thing would make sense if we were talking about one of those lotteries that is owned by your local government, this way whatever taxes you will have to pay could be immediately subtracted from the money they were about to pay you and you will get rid of the worry of having to pay those taxes, but other than that casinos keeping some of your profits in order to pay your taxes at a country that could be at the other side of the world does not make much sense to me.

Likewise, I think, it is not good that they have access, that becomes a double-edged weapon, for me when things are done that way they are acting in a very incorrect way, I do not allow that tax information to be entrusted to them. To a third party, a casino would not be my option, it would be my last option, of course that is my way of thinking when there is a situation like this, I think that each person's situation regarding their taxes is something very delicate and very person, it is something that no one should get involved in, because things should not be very different from what we can think about how to deal with things to do and stay up to date, also the fact that it is done through a casino is a additional tax, something that we should see is very common in that it should not be done, I don't know in other countries how taxes are handled, but I think they can be very strict with that.

There are people who, perhaps, as I have said on other occasions, can live in countries that are very prosperous and they don't care about taxes so much, because they can do it without problems, perhaps the quality of life is high and their salaries They are Extremely high, just as happens in the Nordic countries, where everything is very Expensive but their salaries are quite high, but that is like another world, not everyone has that option.

In the country I live in, if you let a casino or a third party pay for it, the Government would take advantage of it so that it knows many things about me, so in this order of ideas I think that this is information that should not be leave it like that, I think that the casinos with the information that is left in a KYC is enough, what I think is that this level of doing things is when they are at the level of making a lot of money, and I imagine that they should leave even the information Prosecutor, I don't know, I'm speculating, because to know so much it's that way.



Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: KTChampions on October 30, 2023, 11:14:36 AM
I never thought about paying taxes on gambling. The main reason is probably that I live in a garbage country and there is no point in paying taxes here at all, but even if I were in a civilized country, I would hardly pay taxes on gambling. The essence of the deal is unclear to me (for me, paying taxes is a deal) - what do I get in return from the state? If I owned a casino, I would have no questions, but why I should pay taxes, given that the casino pays for all government services with its taxes, is not clear to me.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Natalim on October 30, 2023, 01:37:37 PM
I never thought about paying taxes on gambling. The main reason is probably that I live in a garbage country and there is no point in paying taxes here at all, but even if I were in a civilized country, I would hardly pay taxes on gambling. The essence of the deal is unclear to me (for me, paying taxes is a deal) - what do I get in return from the state? If I owned a casino, I would have no questions, but why I should pay taxes, given that the casino pays for all government services with its taxes, is not clear to me.

Typically, it's businesses that are responsible for paying taxes, not the gamblers themselves. However, there are certain laws in place that can appear quite unreasonable. It's rare to encounter a situation where a gambler is required to pay taxes, which may imply that the gambler is consistently winning and potentially impacting the casino's finances. Nevertheless, we are obligated to follow the law, even if it seems unfair. In the end, dealing with the consequences is the only option, as it's not advisable to go against the government.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: South Park on October 30, 2023, 05:35:03 PM
I never thought about paying taxes on gambling. The main reason is probably that I live in a garbage country and there is no point in paying taxes here at all, but even if I were in a civilized country, I would hardly pay taxes on gambling. The essence of the deal is unclear to me (for me, paying taxes is a deal) - what do I get in return from the state? If I owned a casino, I would have no questions, but why I should pay taxes, given that the casino pays for all government services with its taxes, is not clear to me.
You have a point, which is why there are countries in which your gambling profits are not subject to pay any tax, but there are some silly governments which say that you are supposed to pay some money out of those profits, however this is a very difficult rule to enforce, especially when we talk about physical casinos in which the majority of the bets are made in cash and you can decide to receive your payment in this way as well, making very difficult for the government to know that you earned any money unless it is a big amount.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Westinhome on October 30, 2023, 05:45:21 PM

You have a point, which is why there are countries in which your gambling profits are not subject to pay any tax, but there are some silly governments which say that you are supposed to pay some money out of those profits, however this is a very difficult rule to enforce, especially when we talk about physical casinos in which the majority of the bets are made in cash and you can decide to receive your payment in this way as well, making very difficult for the government to know that you earned any money unless it is a big amount.

Taxation only affect the gambler with less profit from the game or the gambler who never get a chance to win the game in the gambling.If the gambler made the enough win from the gambling sites,it’s enough for the gambler to pay the ten times of the taxes for the gambling sites.When the gambler receive the regular money.He can pay the taxes to their government by the way of the bank.So the bank can easily monitor the winning of the gamblers based on their transaction with the gambling sites.The gambling sites also help the gambler with the immediate deposit of the winning to the game.So they huge money in the wallet of the winner of the gambling to pay taxe


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: KTChampions on October 31, 2023, 05:31:26 PM
I never thought about paying taxes on gambling. The main reason is probably that I live in a garbage country and there is no point in paying taxes here at all, but even if I were in a civilized country, I would hardly pay taxes on gambling. The essence of the deal is unclear to me (for me, paying taxes is a deal) - what do I get in return from the state? If I owned a casino, I would have no questions, but why I should pay taxes, given that the casino pays for all government services with its taxes, is not clear to me.

Typically, it's businesses that are responsible for paying taxes, not the gamblers themselves. However, there are certain laws in place that can appear quite unreasonable. It's rare to encounter a situation where a gambler is required to pay taxes, which may imply that the gambler is consistently winning and potentially impacting the casino's finances. Nevertheless, we are obligated to follow the law, even if it seems unfair. In the end, dealing with the consequences is the only option, as it's not advisable to go against the government.

As you can see, in the first post it is written that in some countries it is the player who is required to pay taxes and for this he needs to keep records of wins/losses and all turnover. This is complete nonsense because I don’t have a personal accountant who would take care of the thousands of bets that I make, for example, in dice.
And by the way, I don’t have to obey the law, what kind of stupidity is that? In reality, if a person follows the law, he will be the most shameful scoundrel at the animal level. You apparently live in a civilized country and think that the whole world is as good as yours, but in reality, in 90% of countries, the law is just a means to oppress citizens.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: South Park on November 06, 2023, 06:17:38 PM
Typically, it's businesses that are responsible for paying taxes, not the gamblers themselves. However, there are certain laws in place that can appear quite unreasonable. It's rare to encounter a situation where a gambler is required to pay taxes, which may imply that the gambler is consistently winning and potentially impacting the casino's finances. Nevertheless, we are obligated to follow the law, even if it seems unfair. In the end, dealing with the consequences is the only option, as it's not advisable to go against the government.

As you can see, in the first post it is written that in some countries it is the player who is required to pay taxes and for this he needs to keep records of wins/losses and all turnover. This is complete nonsense because I don’t have a personal accountant who would take care of the thousands of bets that I make, for example, in dice.
And by the way, I don’t have to obey the law, what kind of stupidity is that? In reality, if a person follows the law, he will be the most shameful scoundrel at the animal level. You apparently live in a civilized country and think that the whole world is as good as yours, but in reality, in 90% of countries, the law is just a means to oppress citizens.
Like most of the time politicians are out of touch with reality, they really believe that just because they wrote a few lines of words in a  document they think that such a thing can force people to follow their wishes, what you describe is precisely why it is so silly to tax gamblers and their winnings as they are not professional accountants that can keep track of so many bets, and this is why attempts to regulate bitcoin and charge a tax on every transaction as we have seen some countries proposing is impossible too, as that would mean you will need to keep track of every single transaction and no one can do that.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Assface16678 on November 07, 2023, 06:02:14 AM
Paying taxes is the business owner's responsibility, or the business itself is the one that will do the taxes. But I don't think that requiring a gambler to pay tax whenever they play is a good idea. Supposing gambling or playing in a casino is tax-free, and also withdrawing the earned money is tax-free. If, for instance, taxes are also implemented in both online and physical casinos, then I'm sure a lot of gamblers will protest and won't agree about that. The government's in charge of collecting taxes, and I think they can only require the business, not the gamblers, as they are only the customers.

But if, for instance, it is forced to be implemented, we can't do anything about that; just make sure that they will not add and add the tax over time because we know how the economy works right now; goods are increasing in price because of the tax.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Hirose UK on November 07, 2023, 06:29:02 AM

You have a point, which is why there are countries in which your gambling profits are not subject to pay any tax, but there are some silly governments which say that you are supposed to pay some money out of those profits, however this is a very difficult rule to enforce, especially when we talk about physical casinos in which the majority of the bets are made in cash and you can decide to receive your payment in this way as well, making very difficult for the government to know that you earned any money unless it is a big amount.

Taxation only affect the gambler with less profit from the game or the gambler who never get a chance to win the game in the gambling.If the gambler made the enough win from the gambling sites,it’s enough for the gambler to pay the ten times of the taxes for the gambling sites.When the gambler receive the regular money.He can pay the taxes to their government by the way of the bank.So the bank can easily monitor the winning of the gamblers based on their transaction with the gambling sites.The gambling sites also help the gambler with the immediate deposit of the winning to the game.So they huge money in the wallet of the winner of the gambling to pay taxe
However, actually imposing taxes on gamblers even if they only win is not a fair tax because even though gamblers get big wins, in reality these wins are not commensurate with the amount they lose while gambling from the beginning until now.
More taxes should be applied to gambling site owners who are business people with definite income from gambling. Moreover, I sure that if such tax is implemented, most gamblers will hide their gambling history and winnings so as not to be asked for tax.

The government should be more tolerant of every gambler because they are just someone who comes to gambling sites to spend money as a form of entertainment and pleasure, not to make certain amount of profit.

I know that some countries impose tax revenues to be allocated to disadvantaged communities, but 50% of gamblers are people from lower middle economic levels so if there is too much emphasis on taxes on gamblers it can also make things difficult for them financially.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: ethereumhunter on November 07, 2023, 09:23:42 AM
Paying taxes is the business owner's responsibility, or the business itself is the one that will do the taxes. But I don't think that requiring a gambler to pay tax whenever they play is a good idea. Supposing gambling or playing in a casino is tax-free, and also withdrawing the earned money is tax-free. If, for instance, taxes are also implemented in both online and physical casinos, then I'm sure a lot of gamblers will protest and won't agree about that. The government's in charge of collecting taxes, and I think they can only require the business, not the gamblers, as they are only the customers.

But if, for instance, it is forced to be implemented, we can't do anything about that; just make sure that they will not add and add the tax over time because we know how the economy works right now; goods are increasing in price because of the tax.
It will only make gamblers hide their gambling activities from the government so they don't have to pay taxes. For example, the tax will be imposed on gamblers who win as is done on lottery winners. Maybe that is a normal thing but not for gamblers who lose in gambling. They have already lost their money and won't want to be asked to pay taxes. Maybe they will continue to use crypto casinos that can hide the transactions they make to their gambling accounts.

But the government could impose taxes on everyone, including gamblers, because the government wants to get additional income from what is in their country. But it would not be wise to apply it to everyone, even losing gamblers. The government should think about what needs to be taxed so that it won't cause problems later.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Negotiation on November 07, 2023, 12:42:13 PM
Why many of us rooting for casinos to deduct taxes from gamblers' funds before their withdrawal this makes it better and easier for the tax remittance and if you think that,  casinos won't be sincere in their dealing as regards to the tax remittances to the government then that is another thing entirely to worry about at some point and the government should already have systems in place to checkmate such possible lapses that may come up from time to time and how best to properly collect all the taxes and put them good use for the benefits of the general populations.
The government has no integration with tax deduction reports from the gambling system, but casinos may have to attach financial reports for tax payments to the government, bad casinos will take advantage of the benefits of tax deductions and they only pay half of the tax funds to the government because the government does not know the actual amount of taxes paid taxes must be paid from the casino, but some countries are not transparent about the use of tax funds for community needs, so I think some of the tax funds are donated to poor communities or trusted charities distribute donations to the community.

We should know this that government don't joke with anything that deals with the way we handle our tax payment, especially the regulated industries under the control of centralized institutions, they will come to us in making demands even when we fail to make payment to them, except if what we do is what tht does not need a physical appearance or registration proof for both gamblers and the gambling organization, for every state, zone or business appearance, there's a stipulated amount assigned under each category for nthe tax payment
Taxation in the case of centralized establishments is normal only in the case of gambling establishments and not taxes from other establishments. In any state people will pay tax on their income and in that sense the state will carry out its expenditure and provide various services to the people. It is supposed to be the general rule that the more services a state provides to the people the more taxes the people will pay. There is no problem here in the case that the centralized gambling organizations have fixed the taxes of the government.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Natalim on November 07, 2023, 03:28:51 PM
But the government could impose taxes on everyone, including gamblers, because the government wants to get additional income from what is in their country. But it would not be wise to apply it to everyone, even losing gamblers.
It's our government, so it's our country, and therefore the tax that will be collected will be used for the improvement of the country if the government is not corrupt. Taxes nowadays come from different activities, and since gambling isn't a necessity, we can't complain if the government imposes an unjust taxation, in our view. We have no choice but to follow it, or we'll face the consequences.

The government should think about what needs to be taxed so that it won't cause problems later.

The only problem it would cause is that they won't be able to collect, as gamblers would eventually stop gambling since the taxation law is discouraging.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: ethereumhunter on November 08, 2023, 04:15:54 AM
It's our government, so it's our country, and therefore the tax that will be collected will be used for the improvement of the country if the government is not corrupt. Taxes nowadays come from different activities, and since gambling isn't a necessity, we can't complain if the government imposes an unjust taxation, in our view. We have no choice but to follow it, or we'll face the consequences.
But unfortunately, there are still many people from corrupt governments who use tax money for their own interests. Taxes are actually for the development and progress of the country but in practice, they are used by corrupt officials who have created problems in the country. Yes, we can't complain because the government controls its taxes, and even though we can protest against the government, it won't have much effect if the corrupt officials are not caught and punished.

The only problem it would cause is that they won't be able to collect, as gamblers would eventually stop gambling since the taxation law is discouraging.
Gamblers will not stop gambling and even though tax laws are against it, gamblers can still gamble in secret. Moreover, the internet is now very advanced, which makes it easier for gamblers to gamble online. They can gamble as usual without any problems, especially as many of them are familiar with crypto, which can hide their identity.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: noormcs5 on November 08, 2023, 04:51:04 AM
It will only make gamblers hide their gambling activities from the government so they don't have to pay taxes. For example, the tax will be imposed on gamblers who win as is done on lottery winners. Maybe that is a normal thing but not for gamblers who lose in gambling. They have already lost their money and won't want to be asked to pay taxes. Maybe they will continue to use crypto casinos that can hide the transactions they make to their gambling accounts.

But the government could impose taxes on everyone, including gamblers, because the government wants to get additional income from what is in their country. But it would not be wise to apply it to everyone, even losing gamblers. The government should think about what needs to be taxed so that it won't cause problems later.

I just do not understand how you think that the gambling who are losing will have to pay tax or not ?
Usually the people are taxed after every year on the income / money which they have at the end of the year. Now if a gambler have a lot of money, and he wins even more in gambling but if he loses all of this money before the year end, at the time of calculation of the tax, he would have no assets / money and therefore he will not fall under the tax net.

Even if you say that tax is on the income earned every month and calculated at the year end, this only applies to the balance that is left on the gambling site. If anyone earn a 1000$ in a month in gambling, but did not withdraw and keep on playing until he loses that 1000$, then he is not obliged to pay the taxes on this amount to the government.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: ethereumhunter on November 08, 2023, 05:54:51 AM
I just do not understand how you think that the gambling who are losing will have to pay tax or not ?
Usually the people are taxed after every year on the income / money which they have at the end of the year. Now if a gambler have a lot of money, and he wins even more in gambling but if he loses all of this money before the year end, at the time of calculation of the tax, he would have no assets / money and therefore he will not fall under the tax net.

Even if you say that tax is on the income earned every month and calculated at the year end, this only applies to the balance that is left on the gambling site. If anyone earn a 1000$ in a month in gambling, but did not withdraw and keep on playing until he loses that 1000$, then he is not obliged to pay the taxes on this amount to the government.
I don't think losing gamblers should pay taxes because they have already lost at gambling and lost their money so they don't have to pay taxes. And I also agree with you that people are taxed at the end of every year on the income/money they have. A gambler who loses much money before his annual tax calculation may not be taxed because he can show his gambling history and savings account. But I don't know, maybe the tax calculation for gamblers is different from one country to another.

Maybe it was a way for him not to pay taxes on the winnings he earned from gambling. But he may still be subject to income tax from other places because he might still have other places to make money. The government will know where the money he gets comes from and if he loses on a gambling site but his savings account grows a lot, so there is income coming into his account and maybe that is what the government will tax. The scenario may be like that, but we don't know what route each government will take.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Rabata on November 08, 2023, 06:04:10 AM
Paying taxes is the business owner's responsibility, or the business itself is the one that will do the taxes. But I don't think that requiring a gambler to pay tax whenever they play is a good idea. Supposing gambling or playing in a casino is tax-free, and also withdrawing the earned money is tax-free. If, for instance, taxes are also implemented in both online and physical casinos, then I'm sure a lot of gamblers will protest and won't agree about that. The government's in charge of collecting taxes, and I think they can only require the business, not the gamblers, as they are only the customers.

But if, for instance, it is forced to be implemented, we can't do anything about that; just make sure that they will not add and add the tax over time because we know how the economy works right now; goods are increasing in price because of the tax.
Taxation is only possible at the institutional level especially in the case of casino gambling. A casino owner has a certain minimum income but a gambler has no guarantee that he will make profit. In that case how will the government collect the tax from him which I think is impossible. But maybe if a person wins a big prize like a jackpot than government can collect the tax from that particular person. The government must only tax the casino business or else it will be almost impossible to collect the tax. If the government still wants to impose the tax, it will pose a threat to the casino gambling platform.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: noormcs5 on November 08, 2023, 07:49:08 AM
But I don't know, maybe the tax calculation for gamblers is different from one country to another.

By the way, we are talking about the honest persons who will declare all the winnings income from the gambling site and willing to pay the taxes.
However majority of the gamblers will hide the gambling income as the the government cannot check the money stored on the gambling sites. Some gambler may keep the money at the year end on the gambling site and once the tax paying period is over they may cash our and bring the gambling income to their accounts.

In case of crypto, they may not convert to fiat and keep them in their bitcoin/altcoins wallets or in the form of USDT where again the government has no access to verify anything.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Natalim on November 08, 2023, 11:32:31 AM
It's our government, so it's our country, and therefore the tax that will be collected will be used for the improvement of the country if the government is not corrupt. Taxes nowadays come from different activities, and since gambling isn't a necessity, we can't complain if the government imposes an unjust taxation, in our view. We have no choice but to follow it, or we'll face the consequences.
But unfortunately, there are still many people from corrupt governments who use tax money for their own interests. Taxes are actually for the development and progress of the country but in practice, they are used by corrupt officials who have created problems in the country. Yes, we can't complain because the government controls its taxes, and even though we can protest against the government, it won't have much effect if the corrupt officials are not caught and punished.
Regardless of how they'll manage it, we are still obliged to pay taxes as that is the lifeblood of a country. The crucial thing here is choosing the right leader. If we don't want a corrupt one to run our nation, we should choose wisely. In our country, vote-buying is very rampant, and that's the root cause of corruption. Hopefully, it's not happening in other countries.

The only problem it would cause is that they won't be able to collect, as gamblers would eventually stop gambling since the taxation law is discouraging.
Gamblers will not stop gambling and even though tax laws are against it, gamblers can still gamble in secret. Moreover, the internet is now very advanced, which makes it easier for gamblers to gamble online. They can gamble as usual without any problems, especially as many of them are familiar with crypto, which can hide their identity.

Yes, they could do that, but it's too risky because if they get caught, they might face jail time. It's a decision to make on how far they're willing to take the risk.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: ethereumhunter on November 09, 2023, 06:24:31 AM
By the way, we are talking about the honest persons who will declare all the winnings income from the gambling site and willing to pay the taxes.
However majority of the gamblers will hide the gambling income as the the government cannot check the money stored on the gambling sites. Some gambler may keep the money at the year end on the gambling site and once the tax paying period is over they may cash our and bring the gambling income to their accounts.

In case of crypto, they may not convert to fiat and keep them in their bitcoin/altcoins wallets or in the form of USDT where again the government has no access to verify anything.
We don't know who will honestly state how much income they earn in one year but maybe people will. However, it is true that the majority of gamblers will hide their income from gambling and may only show their losses for one year in order to get a break from tax payments. Maybe they won't even pay any taxes because they lost at that time even though they hid their winnings ;D

In the case of crypto, we can save the winning money in the form of bitcoin or altcoin or even stablecoin and store it in a separate wallet from other wallets. Yes, as crypto gamblers, we have many ways to keep our winnings and only pay taxes as necessary.

Regardless of how they'll manage it, we are still obliged to pay taxes as that is the lifeblood of a country. The crucial thing here is choosing the right leader. If we don't want a corrupt one to run our nation, we should choose wisely. In our country, vote-buying is very rampant, and that's the root cause of corruption. Hopefully, it's not happening in other countries.
Yes, you are right. Choose the right leader who can lead the country so that it can run according to plan and can develop the economy so that it can be better. The leader may be right, but the officials below him also have to pay attention because it is these officials who often play around with their tax figures and hide their income from the public. These are the ones who must be monitored first and if they do carry out illegal activities, they really must be punished severely to have a deterrent effect on other officials.

Yes, they could do that, but it's too risky because if they get caught, they might face jail time. It's a decision to make on how far they're willing to take the risk.
They must be imprisoned for a long period and have their property confiscated by the state. The government must be truly fair to everyone and impose harsher punishments on state officials who abuse their power for their personal interests.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Russlenat on November 09, 2023, 06:52:42 AM
But I don't know, maybe the tax calculation for gamblers is different from one country to another.

By the way, we are talking about the honest persons who will declare all the winnings income from the gambling site and willing to pay the taxes.
However majority of the gamblers will hide the gambling income as the the government cannot check the money stored on the gambling sites. Some gambler may keep the money at the year end on the gambling site and once the tax paying period is over they may cash our and bring the gambling income to their accounts.

In case of crypto, they may not convert to fiat and keep them in their bitcoin/altcoins wallets or in the form of USDT where again the government has no access to verify anything.

That assumption might not be accurate. If the gambling site cooperates, the government could indeed find out how much we're holding, especially if they are regulated by our government. However, if they don't cooperate, there's no way the government can know. But when you cash out to fiat, you might face questions about the source of your funds since local exchanges are regulated by them.

So, it's a good idea to be prepared for that. You really need to be savvy to avoid taxes on gambling. Just because the government isn't currently keeping a close eye on things doesn't mean we're in the clear when it comes to tax obligations. That's not how it works.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Salahmu on November 09, 2023, 08:21:53 AM
So, question to you, did you ever consider paying taxes on your gambling winnings, or deduct the taxes with the losses you've created? If not, what is the reasoning behind it?
In times of gambling, paying taxes depends on the country you domiciled because i know fully well that not all the countries that normally charge there gamblers so however were I come from gamblers doesn't pay taxes but however the only people whom are liable to pay taxes is the betting company so there taxes cover up for the people gambling on there platform.

Perhaps gamblers shouldn't suppose to be paying taxes because there chances of winning bet is not certain so what if after paying the taxes and end up losing the game who will balance him, however preferably taxes should only be done by the betting companies instead of the gamblers.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Litzki1990 on November 09, 2023, 08:38:18 AM
We pay extra tax on everything we use but paying tax on gambling seems a little surprising to me. I'm already tired of paying extra tax on everything and then again if we have to pay tax on such a risky site like gambling it will be a very bad thing for us. Gambling is already very risky, money can be lost when gambling. Paying taxes from a platform where there is no guarantee of money is really ridiculous. Even if I pay taxes for everything else, at least I'll never pay for gambling. I will turn off gambling if necessary but I am not willing to pay taxes for gambling. Every gambler, not just me, will say that and they certainly don't pay the government taxes for their gambling.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: angrybirdy on November 12, 2023, 05:49:03 AM
We pay extra tax on everything we use but paying tax on gambling seems a little surprising to me. I'm already tired of paying extra tax on everything and then again if we have to pay tax on such a risky site like gambling it will be a very bad thing for us. Gambling is already very risky, money can be lost when gambling. Paying taxes from a platform where there is no guarantee of money is really ridiculous. Even if I pay taxes for everything else, at least I'll never pay for gambling. I will turn off gambling if necessary but I am not willing to pay taxes for gambling. Every gambler, not just me, will say that and they certainly don't pay the government taxes for their gambling.
As far as I know, Once you win in any gambling, you won't get the whole value prize because there's a limit amount that is subject to tax. so better to Make sure you keep good records of your gambling activities; losses as well as gains. I as well doesn't want to pay taxes for my gambling activities but it is stated in the law.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: South Park on November 14, 2023, 07:15:44 PM
We pay extra tax on everything we use but paying tax on gambling seems a little surprising to me. I'm already tired of paying extra tax on everything and then again if we have to pay tax on such a risky site like gambling it will be a very bad thing for us. Gambling is already very risky, money can be lost when gambling. Paying taxes from a platform where there is no guarantee of money is really ridiculous. Even if I pay taxes for everything else, at least I'll never pay for gambling. I will turn off gambling if necessary but I am not willing to pay taxes for gambling. Every gambler, not just me, will say that and they certainly don't pay the government taxes for their gambling.
As far as I know, Once you win in any gambling, you won't get the whole value prize because there's a limit amount that is subject to tax. so better to Make sure you keep good records of your gambling activities; losses as well as gains. I as well doesn't want to pay taxes for my gambling activities but it is stated in the law.
I suppose it depends on the country where you live, as there are some countries in which you will receive the full amount and the casino will leave it up to you to pay your taxes, however there are in fact some places in which your taxes will be paid automatically on your name by the casino and you will receive less money than what you won that way, without a doubt the most practical is the latter, but if you know a good accountant maybe it will have been a better option to pay those taxes on your own as they could find a way to reduce the taxes you will have to pay on that money.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: maydna on November 14, 2023, 10:15:21 PM
As far as I know, Once you win in any gambling, you won't get the whole value prize because there's a limit amount that is subject to tax. so better to Make sure you keep good records of your gambling activities; losses as well as gains. I as well doesn't want to pay taxes for my gambling activities but it is stated in the law.
That's true because there will be a winning tax that must be paid, either to the casino or even some that must be paid to the government, depending on the regulations of each country. We can only follow the rules that have been regulated by law, and if they don't want to pay taxes for gambling, they can start to stop gambling instead of having to pay gambling taxes. Not many people who keep records of their gambling activities will do it because they think that this is gambling that does not need to be recorded. Moreover, if they experience loss, they will be disappointed when they see the numbers.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: l3pox on November 14, 2023, 10:30:41 PM
if you live in a place that has high taxes for gambling earnings you're probably better setting up an offshore company in a tax free zone for gambling

or using your gambling losses to offset taxes depending on the country
c'mon let's be fair, are there gamblers winning longterm?


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: LUCKMCFLY on November 16, 2023, 02:48:05 PM
We pay extra tax on everything we use but paying tax on gambling seems a little surprising to me. I'm already tired of paying extra tax on everything and then again if we have to pay tax on such a risky site like gambling it will be a very bad thing for us. Gambling is already very risky, money can be lost when gambling. Paying taxes from a platform where there is no guarantee of money is really ridiculous. Even if I pay taxes for everything else, at least I'll never pay for gambling. I will turn off gambling if necessary but I am not willing to pay taxes for gambling. Every gambler, not just me, will say that and they certainly don't pay the government taxes for their gambling.
As far as I know, Once you win in any gambling, you won't get the whole value prize because there's a limit amount that is subject to tax. so better to Make sure you keep good records of your gambling activities; losses as well as gains. I as well doesn't want to pay taxes for my gambling activities but it is stated in the law.

I understand that there are European countries like Spain that have to establish or declare almost everything, the thing is that they do not charge the fee for the air that is breathed because it is closed or they have found a way, however Spain is a country that can evade taxes if you go to another country and play, for example a neighboring country, like Portugal, if you are going to play in Portugal the policies are different, they should not charge you tax, because you are outside of Spain, it is an option, now If the person is told that they have to pay taxes because they play in a crypto casino, I think it is not appropriate, because if we assume that crypto is for us to establish an agrable time to have fun, why should we pay taxes to a government? I don't know, sometimes the laws are a little strange, because if I want to play from outside Spain I don't have to pay, the regulations in the countries are very different, they can change from one moment to the next and they can make a difference if you take into consideration the sperosnas decision, what happens if they don't pay?

If I register from Spain under a pseudonymous coaulquer, but they deposit the money into my bank from another country, how will the country realize that I am person X? If I can say that someone entered my account with my internet and played, then how can they determine what they should pay? Those are the things that I don't understand sometimes, because every user in their country has a way of evading taxes, and I say evade because I am a supporter that when you use crypto and in a casino you should not pay anything to any government, let alone pro sar crypto or bitoin, because they do not give any type of benefit and that is what we can exercise when we are in a country like this, for those reasons it is that we must be very emphatic with the rights, we cannot allow ourselves to be trampled on or pay for a government that imposes only its rules where it uses and takes away, but that is my personal opinion.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: l3pox on November 17, 2023, 03:12:48 PM
We pay extra tax on everything we use but paying tax on gambling seems a little surprising to me. I'm already tired of paying extra tax on everything and then again if we have to pay tax on such a risky site like gambling it will be a very bad thing for us. Gambling is already very risky, money can be lost when gambling. Paying taxes from a platform where there is no guarantee of money is really ridiculous. Even if I pay taxes for everything else, at least I'll never pay for gambling. I will turn off gambling if necessary but I am not willing to pay taxes for gambling. Every gambler, not just me, will say that and they certainly don't pay the government taxes for their gambling.
As far as I know, Once you win in any gambling, you won't get the whole value prize because there's a limit amount that is subject to tax. so better to Make sure you keep good records of your gambling activities; losses as well as gains. I as well doesn't want to pay taxes for my gambling activities but it is stated in the law.

I understand that there are European countries like Spain that have to establish or declare almost everything, the thing is that they do not charge the fee for the air that is breathed because it is closed or they have found a way, however Spain is a country that can evade taxes if you go to another country and play, for example a neighboring country, like Portugal, if you are going to play in Portugal the policies are different, they should not charge you tax, because you are outside of Spain, it is an option, now If the person is told that they have to pay taxes because they play in a crypto casino, I think it is not appropriate, because if we assume that crypto is for us to establish an agrable time to have fun, why should we pay taxes to a government? I don't know, sometimes the laws are a little strange, because if I want to play from outside Spain I don't have to pay, the regulations in the countries are very different, they can change from one moment to the next and they can make a difference if you take into consideration the sperosnas decision, what happens if they don't pay?

If I register from Spain under a pseudonymous coaulquer, but they deposit the money into my bank from another country, how will the country realize that I am person X? If I can say that someone entered my account with my internet and played, then how can they determine what they should pay? Those are the things that I don't understand sometimes, because every user in their country has a way of evading taxes, and I say evade because I am a supporter that when you use crypto and in a casino you should not pay anything to any government, let alone pro sar crypto or bitoin, because they do not give any type of benefit and that is what we can exercise when we are in a country like this, for those reasons it is that we must be very emphatic with the rights, we cannot allow ourselves to be trampled on or pay for a government that imposes only its rules where it uses and takes away, but that is my personal opinion.


if you take into account only the laws of a country and not morals, ethics and other ideas than crypto still taxed in some places and not taxed in others
the debate starts to get interesting when we realize that there aren't that many ways to enforce the tax
we're probably moving to a world where there's enough technology for citizens to pay for taxes only if they want to

of course each person will always have to face the consequences of their decisions.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: LUCKMCFLY on November 21, 2023, 05:22:57 PM
We pay extra tax on everything we use but paying tax on gambling seems a little surprising to me. I'm already tired of paying extra tax on everything and then again if we have to pay tax on such a risky site like gambling it will be a very bad thing for us. Gambling is already very risky, money can be lost when gambling. Paying taxes from a platform where there is no guarantee of money is really ridiculous. Even if I pay taxes for everything else, at least I'll never pay for gambling. I will turn off gambling if necessary but I am not willing to pay taxes for gambling. Every gambler, not just me, will say that and they certainly don't pay the government taxes for their gambling.
As far as I know, Once you win in any gambling, you won't get the whole value prize because there's a limit amount that is subject to tax. so better to Make sure you keep good records of your gambling activities; losses as well as gains. I as well doesn't want to pay taxes for my gambling activities but it is stated in the law.

I understand that there are European countries like Spain that have to establish or declare almost everything, the thing is that they do not charge the fee for the air that is breathed because it is closed or they have found a way, however Spain is a country that can evade taxes if you go to another country and play, for example a neighboring country, like Portugal, if you are going to play in Portugal the policies are different, they should not charge you tax, because you are outside of Spain, it is an option, now If the person is told that they have to pay taxes because they play in a crypto casino, I think it is not appropriate, because if we assume that crypto is for us to establish an agrable time to have fun, why should we pay taxes to a government? I don't know, sometimes the laws are a little strange, because if I want to play from outside Spain I don't have to pay, the regulations in the countries are very different, they can change from one moment to the next and they can make a difference if you take into consideration the sperosnas decision, what happens if they don't pay?

If I register from Spain under a pseudonymous coaulquer, but they deposit the money into my bank from another country, how will the country realize that I am person X? If I can say that someone entered my account with my internet and played, then how can they determine what they should pay? Those are the things that I don't understand sometimes, because every user in their country has a way of evading taxes, and I say evade because I am a supporter that when you use crypto and in a casino you should not pay anything to any government, let alone pro sar crypto or bitoin, because they do not give any type of benefit and that is what we can exercise when we are in a country like this, for those reasons it is that we must be very emphatic with the rights, we cannot allow ourselves to be trampled on or pay for a government that imposes only its rules where it uses and takes away, but that is my personal opinion.


if you take into account only the laws of a country and not morals, ethics and other ideas than crypto still taxed in some places and not taxed in others
the debate starts to get interesting when we realize that there aren't that many ways to enforce the tax
we're probably moving to a world where there's enough technology for citizens to pay for taxes only if they want to

of course each person will always have to face the consequences of their decisions.

Thus, we ourselves are the ones who decide how to establish a better world with or without taxes on crypto, it is something that we must consider, I in particular have been surprised that many of the forum users have agreed that have to pay to be able to operate with crypto, the truth is that I don't see any sense, it's as if the fun was being privatized, therefore we must be very emphatic about what we want to achieve, it is very easy to say that we want make a difference, but if everything that a government imposes and everyone says yes, it is something that I do not agree with, any government could manage the resources of the country as they want, because that is what they were elected for, and if they steal or something Similarly, the fault of those who elected them, there is no doubt about that.

As a user of many casinos, I always have the option of doing better things, less thinking about giving taxes to a government that in reality, according to my country, does not deserve it, because they are correct in every sense, so if that is the case, how does it make you want to pay something like that? for them? no, it's not worth it.

I could say that things can be seen from the point of view that is more optional and beneficial for everyone, depending on the country we are in, we must pay because I am located in countries like Switzerland, and the Nordic countries where the validity of life is too high, this can lead many to think that things can be seen differently, because the country is focused on doing different activities that completely benefit the inhabitants of the country. For that reason, we can think that it can be different, perhaps for They do, so in this Order of Ideas we could Comply with a Country like That , but if it is a Country that is in the Range of mine , Believe me it does not cause Anything with them , because they are too Corrupt and have no where to scar more  money , money that is not intended for the country but for themselves , the Rulers.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: moneystery on November 21, 2023, 05:39:04 PM

Quote
#1. Residents of the UK, Canada, and Australia don’t need to pay anything at all, as these governments view this money as the result of good fortune and do not view gambling as a profession. These earnings do not need to be reported, and nothing is owed on them.


even though my country does not officially allow gambling operations but just like the uk, canada and australia, the government here considers that all the rewards people get from these activities are purely from their good fortune and players will not be charged any fees for their winnings.

what my government is doing is a good thing for me because i don't need to pay taxes on my winnings and i don't need to feel burdened by this.

moreover, the government does not contribute anything to the gambling industry here, so they do not impose taxes on players and platforms that operate here, because from the start gambling is not allowed, but all forms of fraud or crime are not the government's responsibility and players are fully responsible for themselves.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: South Park on November 21, 2023, 06:58:56 PM
if you take into account only the laws of a country and not morals, ethics and other ideas than crypto still taxed in some places and not taxed in others
the debate starts to get interesting when we realize that there aren't that many ways to enforce the tax
we're probably moving to a world where there's enough technology for citizens to pay for taxes only if they want to

of course each person will always have to face the consequences of their decisions.
Without a doubt governments are slowly realizing this is a possibility, which in part explains why they are getting so harsh with their regulations as they do not want to lose that source of income, the one that in theory should sustain their whole operations, however just as technology can be used to monitor people, it can also be used to avoid the detection of the governments, and while it would be impossible to hide millions of dollars in profits, it is way easier to hide just a few hundreds of dollars if people decide to do it.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Josefjix on November 21, 2023, 07:14:41 PM
We pay extra tax on everything we use but paying tax on gambling seems a little surprising to me. I'm already tired of paying extra tax on everything and then again if we have to pay tax on such a risky site like gambling it will be a very bad thing for us. Gambling is already very risky, money can be lost when gambling. Paying taxes from a platform where there is no guarantee of money is really ridiculous. Even if I pay taxes for everything else, at least I'll never pay for gambling. I will turn off gambling if necessary but I am not willing to pay taxes for gambling. Every gambler, not just me, will say that and they certainly don't pay the government taxes for their gambling.
We have different opinions when it comes to taxes, it differs depending on the high status of personalities, a celebrity taxes fee is definitely different from a middle class working individual. The government provides revenues and country budgets, we inturn utilized them into significant purposes. Paying tax is part of the levy fee of every citizens but not everyone is keen on paying tasks, some just want to sort out all means to prohibits payment of taxes. Gambling is on another different level, I can't be paying tax for gambling because it's an activity and not an asset owned.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: l3pox on November 22, 2023, 01:54:04 PM
We pay extra tax on everything we use but paying tax on gambling seems a little surprising to me. I'm already tired of paying extra tax on everything and then again if we have to pay tax on such a risky site like gambling it will be a very bad thing for us. Gambling is already very risky, money can be lost when gambling. Paying taxes from a platform where there is no guarantee of money is really ridiculous. Even if I pay taxes for everything else, at least I'll never pay for gambling. I will turn off gambling if necessary but I am not willing to pay taxes for gambling. Every gambler, not just me, will say that and they certainly don't pay the government taxes for their gambling.
As far as I know, Once you win in any gambling, you won't get the whole value prize because there's a limit amount that is subject to tax. so better to Make sure you keep good records of your gambling activities; losses as well as gains. I as well doesn't want to pay taxes for my gambling activities but it is stated in the law.

I understand that there are European countries like Spain that have to establish or declare almost everything, the thing is that they do not charge the fee for the air that is breathed because it is closed or they have found a way, however Spain is a country that can evade taxes if you go to another country and play, for example a neighboring country, like Portugal, if you are going to play in Portugal the policies are different, they should not charge you tax, because you are outside of Spain, it is an option, now If the person is told that they have to pay taxes because they play in a crypto casino, I think it is not appropriate, because if we assume that crypto is for us to establish an agrable time to have fun, why should we pay taxes to a government? I don't know, sometimes the laws are a little strange, because if I want to play from outside Spain I don't have to pay, the regulations in the countries are very different, they can change from one moment to the next and they can make a difference if you take into consideration the sperosnas decision, what happens if they don't pay?

If I register from Spain under a pseudonymous coaulquer, but they deposit the money into my bank from another country, how will the country realize that I am person X? If I can say that someone entered my account with my internet and played, then how can they determine what they should pay? Those are the things that I don't understand sometimes, because every user in their country has a way of evading taxes, and I say evade because I am a supporter that when you use crypto and in a casino you should not pay anything to any government, let alone pro sar crypto or bitoin, because they do not give any type of benefit and that is what we can exercise when we are in a country like this, for those reasons it is that we must be very emphatic with the rights, we cannot allow ourselves to be trampled on or pay for a government that imposes only its rules where it uses and takes away, but that is my personal opinion.


if you take into account only the laws of a country and not morals, ethics and other ideas than crypto still taxed in some places and not taxed in others
the debate starts to get interesting when we realize that there aren't that many ways to enforce the tax
we're probably moving to a world where there's enough technology for citizens to pay for taxes only if they want to

of course each person will always have to face the consequences of their decisions.

Thus, we ourselves are the ones who decide how to establish a better world with or without taxes on crypto, it is something that we must consider, I in particular have been surprised that many of the forum users have agreed that have to pay to be able to operate with crypto, the truth is that I don't see any sense, it's as if the fun was being privatized, therefore we must be very emphatic about what we want to achieve, it is very easy to say that we want make a difference, but if everything that a government imposes and everyone says yes, it is something that I do not agree with, any government could manage the resources of the country as they want, because that is what they were elected for, and if they steal or something Similarly, the fault of those who elected them, there is no doubt about that.

As a user of many casinos, I always have the option of doing better things, less thinking about giving taxes to a government that in reality, according to my country, does not deserve it, because they are correct in every sense, so if that is the case, how does it make you want to pay something like that? for them? no, it's not worth it.

I could say that things can be seen from the point of view that is more optional and beneficial for everyone, depending on the country we are in, we must pay because I am located in countries like Switzerland, and the Nordic countries where the validity of life is too high, this can lead many to think that things can be seen differently, because the country is focused on doing different activities that completely benefit the inhabitants of the country. For that reason, we can think that it can be different, perhaps for They do, so in this Order of Ideas we could Comply with a Country like That , but if it is a Country that is in the Range of mine , Believe me it does not cause Anything with them , because they are too Corrupt and have no where to scar more  money , money that is not intended for the country but for themselves , the Rulers.


considering the size of most participants in the forum, even the ones in the many millions of dollars, paying or not won't make such a big difference at an individual level
(remember the governments usually get trillions of usd in taxes)
I'd agree that the money will probably make a bigger difference by direct donations than by going to the government hands

it's a totally unfair game to ask you to pay when you win because when you lose you're not protected for your losses at all.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Hirose UK on November 22, 2023, 03:18:32 PM
We pay extra tax on everything we use but paying tax on gambling seems a little surprising to me. I'm already tired of paying extra tax on everything and then again if we have to pay tax on such a risky site like gambling it will be a very bad thing for us. Gambling is already very risky, money can be lost when gambling. Paying taxes from a platform where there is no guarantee of money is really ridiculous. Even if I pay taxes for everything else, at least I'll never pay for gambling. I will turn off gambling if necessary but I am not willing to pay taxes for gambling. Every gambler, not just me, will say that and they certainly don't pay the government taxes for their gambling.
We have different opinions when it comes to taxes, it differs depending on the high status of personalities, a celebrity taxes fee is definitely different from a middle class working individual. The government provides revenues and country budgets, we inturn utilized them into significant purposes. Paying tax is part of the levy fee of every citizens but not everyone is keen on paying tasks, some just want to sort out all means to prohibits payment of taxes. Gambling is on another different level, I can't be paying tax for gambling because it's an activity and not an asset owned.
Yes, of course opinions about taxes will always vary between people because countries also have different policies regarding taxes that apply to their entire society.
In the country I live in, gambling is prohibited activity, but there are several fiat gambling sites that are still operating and growing because they here claim to be game of skill and have license, but somehow they get around the law and I assume that they pay taxes in huge amount.
In fact, there are quite lot of artists or celebrities who promote the site freely without any problems with the government or the law.
Here the tax to the public is only about income, not the proceeds from gambling even though it is only for lower class, an annual income tax is still set.

I sure that taxes on gambling winnings will always be rejected or avoided by people in every country because this is a form of tax that is quite burdensome.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: South Park on November 28, 2023, 06:02:30 PM
considering the size of most participants in the forum, even the ones in the many millions of dollars, paying or not won't make such a big difference at an individual level
(remember the governments usually get trillions of usd in taxes)
I'd agree that the money will probably make a bigger difference by direct donations than by going to the government hands

it's a totally unfair game to ask you to pay when you win because when you lose you're not protected for your losses at all.
That is just the way greedy governments operate, and all of them are greedy, they want to know nothing about you if you lose your money, but the moment you earn a single cent they want a cut and they will give you hell if you refuse, besides in the countries in which gambling is legalized casinos have to pay massive taxes already, so I would expect that gamblers could get a break and pay no taxes in a money they simply got out of luck.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: l3pox on November 29, 2023, 01:35:34 PM
considering the size of most participants in the forum, even the ones in the many millions of dollars, paying or not won't make such a big difference at an individual level
(remember the governments usually get trillions of usd in taxes)
I'd agree that the money will probably make a bigger difference by direct donations than by going to the government hands

it's a totally unfair game to ask you to pay when you win because when you lose you're not protected for your losses at all.
That is just the way greedy governments operate, and all of them are greedy, they want to know nothing about you if you lose your money, but the moment you earn a single cent they want a cut and they will give you hell if you refuse, besides in the countries in which gambling is legalized casinos have to pay massive taxes already, so I would expect that gamblers could get a break and pay no taxes in a money they simply got out of luck.

the system is not fair so people have to choose how they want to navigate
if they'll play it by the rules, be pirates that simply don't care, or something in between

there are definitely more and more tools in the hands of people to protect themselves.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Blitzboy on November 29, 2023, 03:04:00 PM
We pay extra tax on everything we use but paying tax on gambling seems a little surprising to me. I'm already tired of paying extra tax on everything and then again if we have to pay tax on such a risky site like gambling it will be a very bad thing for us. Gambling is already very risky, money can be lost when gambling. Paying taxes from a platform where there is no guarantee of money is really ridiculous. Even if I pay taxes for everything else, at least I'll never pay for gambling. I will turn off gambling if necessary but I am not willing to pay taxes for gambling. Every gambler, not just me, will say that and they certainly don't pay the government taxes for their gambling.
We have different opinions when it comes to taxes, it differs depending on the high status of personalities, a celebrity taxes fee is definitely different from a middle class working individual. The government provides revenues and country budgets, we inturn utilized them into significant purposes. Paying tax is part of the levy fee of every citizens but not everyone is keen on paying tasks, some just want to sort out all means to prohibits payment of taxes. Gambling is on another different level, I can't be paying tax for gambling because it's an activity and not an asset owned.
Yes, of course opinions about taxes will always vary between people because countries also have different policies regarding taxes that apply to their entire society.
In the country I live in, gambling is prohibited activity, but there are several fiat gambling sites that are still operating and growing because they here claim to be game of skill and have license, but somehow they get around the law and I assume that they pay taxes in huge amount.
In fact, there are quite lot of artists or celebrities who promote the site freely without any problems with the government or the law.
Here the tax to the public is only about income, not the proceeds from gambling even though it is only for lower class, an annual income tax is still set.

I sure that taxes on gambling winnings will always be rejected or avoided by people in every country because this is a form of tax that is quite burdensome.
Gambling laws and tax policies show intriguing social and political trends. Taxes shape behavior, therefore saying gambling winnings taxes are universally oppressive is misleading. Its odd that these sites thrive under the pretext of "skill games" while gambling is illegal. A pseudo-problem is the fuzzy lines between morality and law.

Celebrity endorsements also question social ideals and public personalities. They promote legally questionable behaviors Why? It shows the complicated relationship between law, ethics, and popular opinion. Your income tax, which excludes gambling, implies that your government prioritizes particular economic activity. This pragmatic approach may implicitly promote gambling, despite its illegality.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: GigaBit on November 29, 2023, 03:26:12 PM
considering the size of most participants in the forum, even the ones in the many millions of dollars, paying or not won't make such a big difference at an individual level
(remember the governments usually get trillions of usd in taxes)
I'd agree that the money will probably make a bigger difference by direct donations than by going to the government hands

it's a totally unfair game to ask you to pay when you win because when you lose you're not protected for your losses at all.
That is just the way greedy governments operate, and all of them are greedy, they want to know nothing about you if you lose your money, but the moment you earn a single cent they want a cut and they will give you hell if you refuse, besides in the countries in which gambling is legalized casinos have to pay massive taxes already, so I would expect that gamblers could get a break and pay no taxes in a money they simply got out of luck.
If the government of a country tries to impose anything on the public by denying their benefits then it is not possible to find a proper solution. First they need to understand that if public can earn money then they can provide tax but if there is no income then it is unreasonable to fix tax. Although common people do not have the courage to speak against the government. A simple calculation is that gamblers win gambling based on luck where they do not have the condition to pay regular taxes. Because if one wins, there is a chance of losing the other. A gambling company is perfect to pay tax because they have regular income opportunities.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: l3pox on November 30, 2023, 05:35:00 PM
considering the size of most participants in the forum, even the ones in the many millions of dollars, paying or not won't make such a big difference at an individual level
(remember the governments usually get trillions of usd in taxes)
I'd agree that the money will probably make a bigger difference by direct donations than by going to the government hands

it's a totally unfair game to ask you to pay when you win because when you lose you're not protected for your losses at all.
That is just the way greedy governments operate, and all of them are greedy, they want to know nothing about you if you lose your money, but the moment you earn a single cent they want a cut and they will give you hell if you refuse, besides in the countries in which gambling is legalized casinos have to pay massive taxes already, so I would expect that gamblers could get a break and pay no taxes in a money they simply got out of luck.
If the government of a country tries to impose anything on the public by denying their benefits then it is not possible to find a proper solution. First they need to understand that if public can earn money then they can provide tax but if there is no income then it is unreasonable to fix tax. Although common people do not have the courage to speak against the government. A simple calculation is that gamblers win gambling based on luck where they do not have the condition to pay regular taxes. Because if one wins, there is a chance of losing the other. A gambling company is perfect to pay tax because they have regular income opportunities.

I agree that it's different to tax a company and to tax the gamblers, definitely
but usually the government doesn't care at all
they're more concerned about finding more ways to fund themselves them to make it fair, discover how to spend less or find ways to improve the use of money.

it's said but this is how it goes.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Orpichukwu on November 30, 2023, 05:52:37 PM
I don't do this at all, and beside, I don't think we have an effective tax system here in my country, and as such, there is no one to come after you, if you report your gambling winnings or losses to the tax authorities; It's just between you and yourself.
 
Und even if our tax system is effective, it won't get to the gambling section, as the casinos are already paying heavily to the government to maintain their licence and their either annually or monthly tax payable, so gamblers will have little to worry about in regard to that.
 
But who will even want to give a penny back to their government in the form of tax for gambling winnings when they literally pay tax on all their expenses? At least gambling profits could be an exception.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: South Park on December 05, 2023, 06:15:12 PM
I don't do this at all, and beside, I don't think we have an effective tax system here in my country, and as such, there is no one to come after you, if you report your gambling winnings or losses to the tax authorities; It's just between you and yourself.
 
Und even if our tax system is effective, it won't get to the gambling section, as the casinos are already paying heavily to the government to maintain their licence and their either annually or monthly tax payable, so gamblers will have little to worry about in regard to that.
 
But who will even want to give a penny back to their government in the form of tax for gambling winnings when they literally pay tax on all their expenses? At least gambling profits could be an exception.
But that is precisely the issue, we are taxed on almost every single transaction that we do and for every dollar we make, so in the eyes of the governments why make an exception for something like gambling? Still even if in your country tax authorities are not very effective, if you earn a high amount of money through gambling then I would say that it is better for you to pay whatever tax you are due and simply forget about it, if not then you should not be surprised if they eventually come to you to get their due payment.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Smack That Ace on December 05, 2023, 07:01:19 PM
I don't do this at all, and beside, I don't think we have an effective tax system here in my country, and as such, there is no one to come after you, if you report your gambling winnings or losses to the tax authorities; It's just between you and yourself.
 
Und even if our tax system is effective, it won't get to the gambling section, as the casinos are already paying heavily to the government to maintain their licence and their either annually or monthly tax payable, so gamblers will have little to worry about in regard to that.
 
But who will even want to give a penny back to their government in the form of tax for gambling winnings when they literally pay tax on all their expenses? At least gambling profits could be an exception.

Ahh it seems effectiveness of tax system in your country can be questioned. You know that different countries have different taxation systems, and the application of this law is also different.

However regardless of the law and its application in your country, it is important to remember that this law can change at any time, right?  Although you may say that govt tax regulations on gambling winnings are currently slack in your country, it is always wise to be aware of the potential legal and financial implications.  Countries that have gambling income tax systems in place should always seek the consultancy of a tax professional or financial advisor, only they can provide you with accurate  information based on the current legal landscape.
Yes I also think that govt should not take tax from gambler cause they charged casino huge but not every contries are same.

regards

duke


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Nwada001 on December 05, 2023, 10:04:05 PM
But that is precisely the issue, we are taxed on almost every single transaction that we do and for every dollar we make, so in the eyes of the governments why make an exception for something like gambling? Still even if in your country tax authorities are not very effective, if you earn a high amount of money through gambling then I would say that it is better for you to pay whatever tax you are due and simply forget about it, if not then you should not be surprised if they eventually come to you to get their due payment.

There is one thing that people usually say in my locality: "They say the government always comes for the big fish; they don't waste their hook on small fish in the river; they allow them to grow bigger so that they can also achieve bigger flesh."
 
This is the same thing that happens with regulators. One might think they have been able to outsmart the system by avoiding tax, but the government might have seen what you ate doing, but looking at the amount involved, they might decide to play a blind eye on it, just waiting for the right time to hit you big, and that right time is when you have either won a big amount from that same thing you refuse to pay tax for or when you have made a big name for yourself and they realise you are equal to whatever you will be sanctioned to pay.
 
So sometimes I just think that it's better for us to pay out our tax on time if necessary without waiting for them to send notice, although here in my country I believe our tax is added to almost all spending that we do, so I don't even think we can withdraw our big winnings without the casino taking off the tax themselves.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: l3pox on December 06, 2023, 01:56:34 PM
I don't do this at all, and beside, I don't think we have an effective tax system here in my country, and as such, there is no one to come after you, if you report your gambling winnings or losses to the tax authorities; It's just between you and yourself.
 
Und even if our tax system is effective, it won't get to the gambling section, as the casinos are already paying heavily to the government to maintain their licence and their either annually or monthly tax payable, so gamblers will have little to worry about in regard to that.
 
But who will even want to give a penny back to their government in the form of tax for gambling winnings when they literally pay tax on all their expenses? At least gambling profits could be an exception.

I don't think anyone "enjoys" paying taxes, but people have different opinions and preferences regarding its importance and how fair it is to pay.

it's a common situation to see the government with not enough people to fiscalize tax payers and check what is being paid and what isn't.
many variables on this.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: Maslate on December 06, 2023, 02:27:10 PM
I don't do this at all, and beside, I don't think we have an effective tax system here in my country, and as such, there is no one to come after you, if you report your gambling winnings or losses to the tax authorities; It's just between you and yourself.
 
Und even if our tax system is effective, it won't get to the gambling section, as the casinos are already paying heavily to the government to maintain their licence and their either annually or monthly tax payable, so gamblers will have little to worry about in regard to that.
 
But who will even want to give a penny back to their government in the form of tax for gambling winnings when they literally pay tax on all their expenses? At least gambling profits could be an exception.

I don't think anyone "enjoys" paying taxes, but people have different opinions and preferences regarding its importance and how fair it is to pay.

it's a common situation to see the government with not enough people to fiscalize tax payers and check what is being paid and what isn't.
many variables on this.

Who would love to pay taxes? If it weren't a crime not to pay taxes, then I doubt people would be diligent in filing their income tax returns. Every country has its own way of tax implementation; developed countries probably have more strict monitoring on tax compliance, so they are able to collect based on their expectations. In less developed and corrupt countries, the government may be lax in its implementation, resulting in a lower collection rate. However, the penalties, whether monetary or criminal, might still be the same if one is convicted. So, it's up to us, the people, to decide if we are willing to risk not paying our taxes.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: l3pox on December 07, 2023, 03:13:44 PM
I don't do this at all, and beside, I don't think we have an effective tax system here in my country, and as such, there is no one to come after you, if you report your gambling winnings or losses to the tax authorities; It's just between you and yourself.
 
Und even if our tax system is effective, it won't get to the gambling section, as the casinos are already paying heavily to the government to maintain their licence and their either annually or monthly tax payable, so gamblers will have little to worry about in regard to that.
 
But who will even want to give a penny back to their government in the form of tax for gambling winnings when they literally pay tax on all their expenses? At least gambling profits could be an exception.

I don't think anyone "enjoys" paying taxes, but people have different opinions and preferences regarding its importance and how fair it is to pay.

it's a common situation to see the government with not enough people to fiscalize tax payers and check what is being paid and what isn't.
many variables on this.

Who would love to pay taxes? If it weren't a crime not to pay taxes, then I doubt people would be diligent in filing their income tax returns. Every country has its own way of tax implementation; developed countries probably have more strict monitoring on tax compliance, so they are able to collect based on their expectations. In less developed and corrupt countries, the government may be lax in its implementation, resulting in a lower collection rate. However, the penalties, whether monetary or criminal, might still be the same if one is convicted. So, it's up to us, the people, to decide if we are willing to risk not paying our taxes.

the interesting thing that new technologies bring to the table is that now it's easier for individuals to protect themselves from the government if they want
but... one thing is for sure
there is no way to escape the consequence of our decisions.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: LUCKMCFLY on December 09, 2023, 10:59:02 PM
I don't do this at all, and beside, I don't think we have an effective tax system here in my country, and as such, there is no one to come after you, if you report your gambling winnings or losses to the tax authorities; It's just between you and yourself.
 
Und even if our tax system is effective, it won't get to the gambling section, as the casinos are already paying heavily to the government to maintain their licence and their either annually or monthly tax payable, so gamblers will have little to worry about in regard to that.
 
But who will even want to give a penny back to their government in the form of tax for gambling winnings when they literally pay tax on all their expenses? At least gambling profits could be an exception.

I don't think anyone "enjoys" paying taxes, but people have different opinions and preferences regarding its importance and how fair it is to pay.

it's a common situation to see the government with not enough people to fiscalize tax payers and check what is being paid and what isn't.
many variables on this.

Who would love to pay taxes? If it weren't a crime not to pay taxes, then I doubt people would be diligent in filing their income tax returns. Every country has its own way of tax implementation; developed countries probably have more strict monitoring on tax compliance, so they are able to collect based on their expectations. In less developed and corrupt countries, the government may be lax in its implementation, resulting in a lower collection rate. However, the penalties, whether monetary or criminal, might still be the same if one is convicted. So, it's up to us, the people, to decide if we are willing to risk not paying our taxes.

the interesting thing that new technologies bring to the table is that now it's easier for individuals to protect themselves from the government if they want
but... one thing is for sure
there is no way to escape the consequence of our decisions.

I consider that it is the last straw of all that a government Demands that a person have to pay taxes for using a crypto casino, I don't say anything to those who use casinos that are with fiat money, and well they can consider it as something of a luxury , but the casinos that are fiat, are casinos controlled and regulated by governments and specialized entities , because fiat money is moved, whether dollar, euro or local currency of each country, that is considered to be well ncentralized, although it is I see it as a Problem because when there is a lot of money it is an equal problem to withdraw that money or something like that, because the majority of bankers and governments do not like people having so much money , it is in their best interest that they follow the model of corruption and issues that have to do with absolute control on their part, in this sense things can be affected by those who can bet the most According to what they spend , but in crypto I don't see it Well.

In fact, I have seen many people in the forum who do not give importance to this, they like to pay taxes because they use crypto , they like to pay taxes because they use crypto casino, I see that as very bad, because then we are in a crypto casino? I think that people who play with crypto and who own crypto Should not pay a cent to a government, perhaps the government bets some benefit on us people? At least I consider my country to be the most corrupt in the world, which is why I have always seen that when things are tried to be done with a better vision, people are already accepting all kinds of impositions like wild, the KYC , paying taxes , I will never agree with this, because that is what crypto technology is all about, not to give a single cent to a government or a person who are actually third parties , those who do it are really because for me it is not They have judgment.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: South Park on December 12, 2023, 06:13:41 PM
But that is precisely the issue, we are taxed on almost every single transaction that we do and for every dollar we make, so in the eyes of the governments why make an exception for something like gambling? Still even if in your country tax authorities are not very effective, if you earn a high amount of money through gambling then I would say that it is better for you to pay whatever tax you are due and simply forget about it, if not then you should not be surprised if they eventually come to you to get their due payment.

There is one thing that people usually say in my locality: "They say the government always comes for the big fish; they don't waste their hook on small fish in the river; they allow them to grow bigger so that they can also achieve bigger flesh."
 
This is the same thing that happens with regulators. One might think they have been able to outsmart the system by avoiding tax, but the government might have seen what you ate doing, but looking at the amount involved, they might decide to play a blind eye on it, just waiting for the right time to hit you big, and that right time is when you have either won a big amount from that same thing you refuse to pay tax for or when you have made a big name for yourself and they realise you are equal to whatever you will be sanctioned to pay.
 
So sometimes I just think that it's better for us to pay out our tax on time if necessary without waiting for them to send notice, although here in my country I believe our tax is added to almost all spending that we do, so I don't even think we can withdraw our big winnings without the casino taking off the tax themselves.
And there is an example of this with bitcoin, when bitcoin was small governments did not really cared too much about it and just let it to its own devices, but once bitcoin became big enough and casinos, exchanges and some users began to generate huge profits with it, that is when the governments around the world came to this market and now they are trying to regulate it completely, and while they are using the excuse of criminals using bitcoin, I can assure you they are more interested in the taxes they can generate out of this market more than anything.


Title: Re: Are You Tax Efficient With Your Gambling Habbits?
Post by: l3pox on December 27, 2023, 03:40:17 PM
I don't do this at all, and beside, I don't think we have an effective tax system here in my country, and as such, there is no one to come after you, if you report your gambling winnings or losses to the tax authorities; It's just between you and yourself.
 
Und even if our tax system is effective, it won't get to the gambling section, as the casinos are already paying heavily to the government to maintain their licence and their either annually or monthly tax payable, so gamblers will have little to worry about in regard to that.
 
But who will even want to give a penny back to their government in the form of tax for gambling winnings when they literally pay tax on all their expenses? At least gambling profits could be an exception.

I don't think anyone "enjoys" paying taxes, but people have different opinions and preferences regarding its importance and how fair it is to pay.

it's a common situation to see the government with not enough people to fiscalize tax payers and check what is being paid and what isn't.
many variables on this.

Who would love to pay taxes? If it weren't a crime not to pay taxes, then I doubt people would be diligent in filing their income tax returns. Every country has its own way of tax implementation; developed countries probably have more strict monitoring on tax compliance, so they are able to collect based on their expectations. In less developed and corrupt countries, the government may be lax in its implementation, resulting in a lower collection rate. However, the penalties, whether monetary or criminal, might still be the same if one is convicted. So, it's up to us, the people, to decide if we are willing to risk not paying our taxes.

the interesting thing that new technologies bring to the table is that now it's easier for individuals to protect themselves from the government if they want
but... one thing is for sure
there is no way to escape the consequence of our decisions.

I consider that it is the last straw of all that a government Demands that a person have to pay taxes for using a crypto casino, I don't say anything to those who use casinos that are with fiat money, and well they can consider it as something of a luxury , but the casinos that are fiat, are casinos controlled and regulated by governments and specialized entities , because fiat money is moved, whether dollar, euro or local currency of each country, that is considered to be well ncentralized, although it is I see it as a Problem because when there is a lot of money it is an equal problem to withdraw that money or something like that, because the majority of bankers and governments do not like people having so much money , it is in their best interest that they follow the model of corruption and issues that have to do with absolute control on their part, in this sense things can be affected by those who can bet the most According to what they spend , but in crypto I don't see it Well.

In fact, I have seen many people in the forum who do not give importance to this, they like to pay taxes because they use crypto , they like to pay taxes because they use crypto casino, I see that as very bad, because then we are in a crypto casino? I think that people who play with crypto and who own crypto Should not pay a cent to a government, perhaps the government bets some benefit on us people? At least I consider my country to be the most corrupt in the world, which is why I have always seen that when things are tried to be done with a better vision, people are already accepting all kinds of impositions like wild, the KYC , paying taxes , I will never agree with this, because that is what crypto technology is all about, not to give a single cent to a government or a person who are actually third parties , those who do it are really because for me it is not They have judgment.


what is your contry? if you don't mind sharing.

totally hear your point, it's impressive how assymetrical the government demands are.
though I think this reaches people differently, some simply don't care, others are really afraid of what the government can do to them (putting them in jail, etc...) so forth and so on...