Are the Big Gambling sites paying taxes?

[Cereberus]

I have quite a few doubts about this. Casinos which operate in Bitcoin and other cryptos are usually located in tax free havens like Curacao, Virgin Islands, Panama where no one gives a shit if any business pay taxes or no. The Bitcoin casinos are not big enough when it comes to Fiat casinos online so they do not pay taxes I believe, if they were as big as Fiat casinos I am sure they would pay taxes too. For the moment I think they are run without paying taxes.

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[gilad215]

Most of the gambling platform establish an offshore office in countries like Curacao where it is quite easy to register an office by just paying few dollars from sites like this https://www.gaminglicensing.com/ and https://www.gbo-intl.com/

Also can't find mentioned of tax for casino operators here https://www.gamblingsites.org/laws/curacao/

The fees for a "master" gambling license in Curacao include a 60,000 ANG (or about $34,000) setup fee and then 10,000 ANG (about $5,600) per month for the first two years. After that, the operator can negotiate with the government of Curacao for fees going forward.

they only have to pay $5600 per month to operate.

$34,000 is expensive for setup ,at least for young entrepreneurs. i prefer paying more earnings.

[RealPhotoshoper]

I have quite a few doubts about this. Casinos which operate in Bitcoin and other cryptos are usually located in tax free havens like Curacao, Virgin Islands, Panama where no one gives a shit if any business pay taxes or no. The Bitcoin casinos are not big enough when it comes to Fiat casinos online so they do not pay taxes I believe, if they were as big as Fiat casinos I am sure they would pay taxes too. For the moment I think they are run without paying taxes.

They could simply report their business to get taxed or hide it forever in bitcoin.
Depends on how good people will to help their government grow together through the tax rules.
It sucks indeed to give your hardwork for free to the greedy government , it is up to the operator now.

[iluvbitcoins]

I have quite a few doubts about this. Casinos which operate in Bitcoin and other cryptos are usually located in tax free havens like Curacao, Virgin Islands, Panama where no one gives a shit if any business pay taxes or no. The Bitcoin casinos are not big enough when it comes to Fiat casinos online so they do not pay taxes I believe, if they were as big as Fiat casinos I am sure they would pay taxes too. For the moment I think they are run without paying taxes.

They could simply report their business to get taxed or hide it forever in bitcoin.
Depends on how good people will to help their government grow together through the tax rules.
It sucks indeed to give your hardwork for free to the greedy government , it is up to the operator now.

With time as bitcoin goes mainstream, you won't have to report anything
You'll be free to use your bitcoins to buy whatever the hell you want anywhere
Why would you have the need to exchange your bitcoins for fiat?
I believe most of the crypto casinos either operate in tax havens or aren't registered at all
I find this to be a good thing

[el kaka22]

I have quite a few doubts about this. Casinos which operate in Bitcoin and other cryptos are usually located in tax free havens like Curacao, Virgin Islands, Panama where no one gives a shit if any business pay taxes or no. The Bitcoin casinos are not big enough when it comes to Fiat casinos online so they do not pay taxes I believe, if they were as big as Fiat casinos I am sure they would pay taxes too. For the moment I think they are run without paying taxes.

If we talk about land base casinos, then I doubt no business can run without paying tax to government. If we talk about online casinos or gambling sites then again they would be using internet and electricity, sort of all setup needed, somewhere involving the governments again. Obviously, we all are ultimately paying taxes, no matter where and what we do. It may be direct or indirect taxes.

[sana54210]

I have quite a few doubts about this. Casinos which operate in Bitcoin and other cryptos are usually located in tax free havens like Curacao, Virgin Islands, Panama where no one gives a shit if any business pay taxes or no. The Bitcoin casinos are not big enough when it comes to Fiat casinos online so they do not pay taxes I believe, if they were as big as Fiat casinos I am sure they would pay taxes too. For the moment I think they are run without paying taxes.

If we talk about land base casinos, then I doubt no business can run without paying tax to government. If we talk about online casinos or gambling sites then again they would be using internet and electricity, sort of all setup needed, somewhere involving the governments again. Obviously, we all are ultimately paying taxes, no matter where and what we do. It may be direct or indirect taxes.

Taxation differs country to country and in most of the countries businesses must pay "actual" taxes rather than what you mean by indirect taxes. But as long as a gambling site is just sticking with cryptos and not at all dealing with any fiats and not concerning about any physical governing offices then they will never need to worry about paying taxes.

All online gambling business which are based on ONLY crytpo must be business must be enjoying these kind of advantages.  When crypto support a business an independent business model, we never need to worry about paying taxes afasik.

[BlockEye]

I have quite a few doubts about this. Casinos which operate in Bitcoin and other cryptos are usually located in tax free havens like Curacao, Virgin Islands, Panama where no one gives a shit if any business pay taxes or no. The Bitcoin casinos are not big enough when it comes to Fiat casinos online so they do not pay taxes I believe, if they were as big as Fiat casinos I am sure they would pay taxes too. For the moment I think they are run without paying taxes.

If we talk about land base casinos, then I doubt no business can run without paying tax to government. If we talk about online casinos or gambling sites then again they would be using internet and electricity, sort of all setup needed, somewhere involving the governments again. Obviously, we all are ultimately paying taxes, no matter where and what we do. It may be direct or indirect taxes.

Online Casinos are also paying taxes same as Land Base casino, They are paying license and tax on the country that they declare to establish. Most offline casino choose Curaçao as a location because that country are not well strict regarding online gambling.

[iluvbitcoins]

I have quite a few doubts about this. Casinos which operate in Bitcoin and other cryptos are usually located in tax free havens like Curacao, Virgin Islands, Panama where no one gives a shit if any business pay taxes or no. The Bitcoin casinos are not big enough when it comes to Fiat casinos online so they do not pay taxes I believe, if they were as big as Fiat casinos I am sure they would pay taxes too. For the moment I think they are run without paying taxes.

If we talk about land base casinos, then I doubt no business can run without paying tax to government. If we talk about online casinos or gambling sites then again they would be using internet and electricity, sort of all setup needed, somewhere involving the governments again. Obviously, we all are ultimately paying taxes, no matter where and what we do. It may be direct or indirect taxes.

Online Casinos are also paying taxes same as Land Base casino, They are paying license and tax on the country that they declare to establish. Most offline casino choose Curaçao as a location because that country are not well strict regarding online gambling.

You're forgetting about the freedoms provided to us by cryptocurrency, there is no need to register for a license and a tax to some extent with crypto.

[FrueGreads]

I don't really know. I mean, if a casino is operating with fiat, then it has to be regulated, otherwise they will be closed. There aren't many online bookies in my country right now, because most of them don't want to pay the licenses to the government. Same thing for online poker houses. But I have no problem using bookies that use bitcoin right now, but I'm sure they are not paying any taxes in my country, so I guess that if they don't pay it here, they don't pay it anywhere else as well.

[LuanX3]

Probably it depends on their jurisdiction where they are operating. If the casinos registered with the country where they operate for sure they will have to be taxed by that government for operating there. Though, I think a lot of casinos are not even registered and they don;t even declare the operators of the site.

[SvenBomvolen]

Of course they do pay taxes. To not be banned they they open an official firm which should to take a licence for gambling activity. Everything should be paid and all papers should be on place to a big gambling site could work. In the other case it's activity sooner or later will be cuted by government's controlling structures.

[Kiweikoo]

Of course they do pay taxes. To not be banned they they open an official firm which should to take a licence for gambling activity. Everything should be paid and all papers should be on place to a big gambling site could work. In the other case it's activity sooner or later will be cuted by government's controlling structures.

What the hell! Governments are highly involved in ruining the lives of people. When they know people end up living on streets, why they allow such sites to play with lives of people. When we know something is addictive, it should be not exposed publically because everyone does not have good self control.

[ralle14]

All I know is that having a license for a bitcoin casino is not really needed at the moment because there are a lot of successful casinos here that don't have any gambling license yet they're still operating smoothly compared to those who have curacao license. Few casinos that don't have any gambling license block users from specific countries like the U.S. in having any access to their site to avoid getting taken down. Imo they don't pay taxes unless they're being regulated.

[szpalata]

All I know is that having a license for a bitcoin casino is not really needed at the moment because there are a lot of successful casinos here that don't have any gambling license yet they're still operating smoothly compared to those who have curacao license. Few casinos that don't have any gambling license block users from specific countries like the U.S. in having any access to their site to avoid getting taken down. Imo they don't pay taxes unless they're being regulated.

But even with the US there are ways around it by using a vpn or a Remote Desktop protocol (RSP) to completely hide your identity and gamble. I agree with you that many are operating without license and I think it depends on where you'll decide to host your gambling website (the server country).

[Zicadis]

The fact that where these gambling houses are usually based cryptocurrencies are not even recognized as a legal form of payment which gives them no reason to pay taxes at all, I guess our governments need to think proactively and not miss all these potential hotspots for revenue collection.

[Cacingkemi]

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.

Sites pay taxes even site gambling, pay online taxes and rent their land in the domain is clear it's a piece of tax. offline gambling is obviously exposed to legal or uncertain taxes taxable, I think all the locations there must be some tax whatever and how surely no taxes except asleep. a license statement of its validity is definitely taxable.

[DrGuns4Hands]

ofcourse they have a respective documents in order to run their business legally. they don't want to have a cases like tax evasion so i think they're paying taxes also even if it's online without any actual casino. ithink they've all the legal rights to run a business. the most nearest way they're paying taxes was buying a domain plan and hosting plan that company used to pay taxes also.

[carlisle1]

ofcourse they have a respective documents in order to run their business legally. they don't want to have a cases like tax evasion so i think they're paying taxes also even if it's online without any actual casino. ithink they've all the legal rights to run a business. the most nearest way they're paying taxes was buying a domain plan and hosting plan that company used to pay taxes also.

yeah right they needed to bring those requirements in order to patronized their business its a must especially for those who already established their
business so I guess they also paying taxes because before you can have those documents you needed to pay for the form.

[bajing]

I think most of the gambling sites that operates with crypto-currencies instead of fiat money don't pay taxes to the government to their country they reside at, I have seldom seen a gambling site releasing their yearly financial statement about the sites profits and losses.

To be honest i dont know what is the truth but Who knows?? i mean after some countries has legalized bitcoin, maybe there is any rule for some gambling site paid taxes because like in america or europa gambling can operate on legal. sorry to said that because your word is like all gambling site that operates with crypto-currencies is operated on illegal.

[RealPhotoshoper]

I have quite a few doubts about this. Casinos which operate in Bitcoin and other cryptos are usually located in tax free havens like Curacao, Virgin Islands, Panama where no one gives a shit if any business pay taxes or no. The Bitcoin casinos are not big enough when it comes to Fiat casinos online so they do not pay taxes I believe, if they were as big as Fiat casinos I am sure they would pay taxes too. For the moment I think they are run without paying taxes.

They could simply report their business to get taxed or hide it forever in bitcoin.
Depends on how good people will to help their government grow together through the tax rules.
It sucks indeed to give your hardwork for free to the greedy government , it is up to the operator now.

With time as bitcoin goes mainstream, you won't have to report anything
You'll be free to use your bitcoins to buy whatever the hell you want anywhere
Why would you have the need to exchange your bitcoins for fiat?
I believe most of the crypto casinos either operate in tax havens or aren't registered at all
I find this to be a good thing

Still the tax department will come after you to get taxed.
The bigger your business the more people looking for you to ask money in the name of official work government.
I believe those big casinos has received a message regarding the obligation to pay taxes.