Are the Big Gambling sites paying taxes?

[Sexie]

This had me thinking,
Since its all in cryptocurrencies, do these sites even open a company and declare their earnings?

What is the legal approach here?

Is opening a company more profitable? since paying company tax is usually lower than personal tax?
Also all of this has to be done where online gambling is legal?

Thanks.

             

.                 I think gambling site , if it base in a country is being taxed. Alll the requirement of  starting a business must be produced otherwise you Will be banned. I think also those  gambling site that have an advertisement through  internet are being taxed once they are land base.  But for those Casino that are being Played through online i dont think so that they are being taxed. Because they are just buying coins and tokens  through  online bases.

[megynacuna]

Most of the online gambling websites are hosted on offshore servers and not in the country where their owners normally reside and so it makes it difficult to collect taxes from these establishments  and so i suspect majority of them are skipping taxes.

[benmartin613]

There two kinds of gambling site the ones who are licensed and the one who are running underground, licensed casino definitely pay taxes because they are being watch by the government on where they register their main office.
Undergrounds dont pay taxes these kinds of site usually dont last long end scam its client, staying online for a few months or years then after a good flow of players coming in then they do shady activity and just block your account or worst the site is lost forever.

[Alns]

This is almost the same as i replied a few minutes ago, it depends on where are they based.
If they are US-based online casino, then the answer is absolutely yes, they are going to need to put all their asses on the cage because they are going to pay a lot of taxes.
That is the main reason of why most casino websites are based on Panama, or in Gibraltar, because they do not need to pay taxes in those countries.

[Pixyoxx]

In simple terms , if gambling is allowed then that means they accept it as a means of earning money and off that's so then they will have to pay taxes for sure if they are making a huge sum of it .

Also setting up a company allows you to pay a little bit lower tax but all the input and loan that you will take in setting up one is 10 times higher than the tax that you would have to pay.

Also there is no surity that the company will fluorish .

[crwth]

In simple terms , if gambling is allowed then that means they accept it as a means of earning money and off that's so then they will have to pay taxes for sure if they are making a huge sum of it .

Also setting up a company allows you to pay a little bit lower tax but all the input and loan that you will take in setting up one is 10 times higher than the tax that you would have to pay.

Also there is no surity that the company will fluorish .

Well, at least they are paying the government which is going to be for the benefit of the country but not everything goes to the country, it's just the fact that people are really corrupt and just puts the money in their own pockets. That's the sad part, that's why some people don't necessarily pay the right amount or something.

[Kolly]

This had me thinking,
Since its all in cryptocurrencies, do these sites even open a company and declare their earnings?

What is the legal approach here?

Is opening a company more profitable? since paying company tax is usually lower than personal tax?
Also all of this has to be done where online gambling is legal?

Thanks.

Some gambling sites especiaĺly the big one pay their taxes because if they dont pay their sites will be closed.but many gambling sites are illegal they are the hard headed they dont follow the rules of government.

[greeklogos]

Logically they should to. Also I think they are paying for the license for gambling activity. In the other case the gambling site simply should be blocked.

[StarofBTC]

Those gambling sites that registered and given permit to operate are the ones that hould pay their taxes. There are many online gamblings that has no actual offices, and mostly runs by softwares. These sites raked millions of dollars in profits and don't pay any taxes at all.

Yeah you are right many sites are not registered and they have made millions of dollars. They do not pay taxes because they are not registered with the governments and they are free to collect money from all over the world and keep all the money in their pockets.

Why they should pay tax? The government does not facilitate them in anything and in response they do not pay taxes. Registered gambling sites no doubt pay taxes.