Are the Big Gambling sites paying taxes?

[roadbits]

Maybe if they want to be recognized as a legal site then they have to pay taxes. If they do not pay taxes it's an illegal gambling site, and illegal means less security.
If gambling sites are created and operated in a country that prohibits gambling, then the site is definitely illegal and certainly will not need to pay taxes.

Gambling sites rather all the sites need to pay tax in order to get licensed by government. All such sites do pay taxes and as far as we are utilizing the facilities like internet and electricity, definitely we all are paying income taxes one way or the other. You cannot run an illegal site very easily. After all, all of our activities are locked.

We all paying tax to our governament with one or another way. But paying that type of tax and income tax is different I think. Income tax means what we are earning from our business for that money we have to pay tax. What you said utilizing the facilities like internet and electricity etc. this will come under service tax. We have varieties of taxes, we can hide income tax by showing some fake documents, but we can't hide service tax.

[lovesybitz]

As far as I know, all online gambling site has no taxes at all. But gambling who build in land based casino, perhaps that things has licensed from the government, well in that case they are legally need to pay tax anway.

[socks435]

As far as I know, all online gambling site has no taxes at all. But gambling who build in land based casino, perhaps that things has licensed from the government, well in that case they are legally need to pay tax anway.

No there are country that asking for tax and i think only bitcoin gambling are not asking for taxes and other country online or local gambling are also had taxes.. because its business and its impossible they are not asking for taxes unlike you are gamble in bitcoin which is no taxes never heard that there are gambling site related in bitcoin are asking for taxes .

[hatshepsut93]

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.

Good question! I think it's easy to determine whether a casino pays taxes or no by simply looking at its house edge and profit share for investors. Technically, casino has just one source of income - its house edge, and it has to cover all the spendings - servers, maintenance, salary for employees and of course taxes (if there are any). This is one of the reasons why Bitcoin gambling sites have much smaller house edge than traditional casinos - they don't pay taxes, so they have more profit, so they can reduce their house edge to be more attractive than fiat casinos. Also, traditional casinos operate with a license, which is like a reassurance from the government that the casino won't cheat (pretty weak in my opinion, since you have to just trust both casino and the government). Bitcoin casinos just don't need this, because they can prove their fairness via cryptography. 

[FlightyPouch]

As far as I know, all online gambling site has no taxes at all. But gambling who build in land based casino, perhaps that things has licensed from the government, well in that case they are legally need to pay tax anway.

No there are country that asking for tax and i think only bitcoin gambling are not asking for taxes and other country online or local gambling are also had taxes.. because its business and its impossible they are not asking for taxes unlike you are gamble in bitcoin which is no taxes never heard that there are gambling site related in bitcoin are asking for taxes .

I don't get what you are saying, you are saying that the gambling sites or online casinos are "asking" for taxes?? They are not asking, they do not even care about taxes because they are not paying taxes. It is different form the Casinos in the real world where they are required to pay big taxes to make their casinos legal.

[Malsetid]

They have to. Governments would be aware and would crack down on these sites if they can't milk anything from something that generates so much money. Even gambling sites utilizing bitcoin would be hardpressed not to pay taxes.

[siti25]

As far as I know, all online gambling site has no taxes at all. But gambling who build in land based casino, perhaps that things has licensed from the government, well in that case they are legally need to pay tax anway.

No there are country that asking for tax and i think only bitcoin gambling are not asking for taxes and other country online or local gambling are also had taxes.. because its business and its impossible they are not asking for taxes unlike you are gamble in bitcoin which is no taxes never heard that there are gambling site related in bitcoin are asking for taxes .

I don't get what you are saying, you are saying that the gambling sites or online casinos are "asking" for taxes?? They are not asking, they do not even care about taxes because they are not paying taxes. It is different form the Casinos in the real world where they are required to pay big taxes to make their casinos legal.

I know The difference is a real casino and gambling site is a real casino must pay taxes and gambling sites do not pay taxes. Because to my knowledge, online businesses are not asked for taxes and gambling sites including online businesses. While offline businesses like real casinos have to pay taxes because there are already rules about it.

[bering]

the questions were actually belongs to the owners itself because only them able to answering this questions but in my view if gambling legal on the particular countries so paying tax is mandatory even it's cryptocurrencies casinos or physical casinos all of them have to following the rule

[BabyBoss]

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.

It depends on casino if this was building then I think they pay taxes on the government but I'm not sure in casino sites absolutely ofcourse they never taxes unless that site build a building. I think you need to pay tax if that was build in land. I don't think so.

[guoyu78]

I do not think so, maybe the site holder can hide his status. Gambling sites are not like real casinos that are clearly visible to our eyes. Gambling sites seem more privacy. I do not really know but it looks like gambling sites do not pay taxes. They benefit for themselves. Or maybe gambling sites pay taxes if the country legalize gambling.

There's no such low now implementing to pay tax on online business,thats why more preferred to have online business than a physical one. As long as the site didn't have a physical company then its not really into paying taxes.

I just found out about online business and it turns out that online business do not need to pay tax as you say. So I do not think gambling sites need to pay taxes because it's an online business. But I found information there are some countries that will apply taxes on online business. So maybe in the future gambling sites will be taxed.

First of all, all countries have their own rules and regulation. Each country has its own tax laws. For instance, United State of America taxes all income from whatever source derived; it covers legal and illegal both. I think, citizens of all the countries have to pay income tax at least regardless of their sources.

[DeathAngel]

Big crypto gambling companies probably aren't paying the correct or any taxes. I don't blame them though, fair play to them. I wouldn't pay taxes either if I could get away with it.

Good luck to them.

[Oilacris]

I do not think so, maybe the site holder can hide his status. Gambling sites are not like real casinos that are clearly visible to our eyes. Gambling sites seem more privacy. I do not really know but it looks like gambling sites do not pay taxes. They benefit for themselves. Or maybe gambling sites pay taxes if the country legalize gambling.

There's no such low now implementing to pay tax on online business,thats why more preferred to have online business than a physical one. As long as the site didn't have a physical company then its not really into paying taxes.

I just found out about online business and it turns out that online business do not need to pay tax as you say. So I do not think gambling sites need to pay taxes because it's an online business. But I found information there are some countries that will apply taxes on online business. So maybe in the future gambling sites will be taxed.

First of all, all countries have their own rules and regulation. Each country has its own tax laws. For instance, United State of America taxes all income from whatever source derived; it covers legal and illegal both. I think, citizens of all the countries have to pay income tax at least regardless of their sources.

Correct, this thing would actually depend on the law enforced on a certain country if they did have some law on imposing taxes on businesses either on offline or online.Then you would really be obliged on paying up taxes when you do decide to build a gambling site this is why when you are confused regarding on this thing then better to look for a lawyer on your place and ask regarding on this matter.

[ardentvolcanoes]

Big crypto gambling companies probably aren't paying the correct or any taxes. I don't blame them though, fair play to them. I wouldn't pay taxes either if I could get away with it.

Good luck to them.

LOL mate.. If there's even a chance I will not pay taxes as well.. taxes here in our country is 30%. It would be much higher if you're going to own a business maybe. Gambling sites are paying taxes and I agree that they maybe not paying the correct one.

[wxa7115]

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’m not an expert in tax law but I will say that most of the bitcoin casinos are probably established in countries where you do not have to pay income tax or where the taxes are very low so while they may not be paying a lot taxes they are doing everything in a legal way.

[JanpriX]

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.

Your post that you presented here also made me thinking.   Right now, online gambling is strictly prohibited in our country but I believe when they are still legal here, they are paying taxes to the government. That is if they are registered and regulated by our Gaming Licensing and Development Department. This goes also to online gambling sites and casinos that operate in cryptocurrencies and fiat. I don't know how much are they paying but I can say that it is a significant amount. Under-the-table payments are also rampant here so you do a rough estimate if they are paying big sum of money or not

Opening a gambling company is indeed more profitable as it was built to always win in the end because of the house edge that they are imposing.

[Shinpako09]

Gambling site like pd doesn't declare their actual earning, sort of security reason I guess. Paying taxes? tbh it doesn't matter on me wether they pay taxes or not on the country where they operates. As long as they are paying every withdrawal right away regardless the amount, it's fine on me.

[Don Pedro Dinero]

The ones operating in my country and other European regulated countries don’t pay taxes because to do so, and to be completely legalized, they should have applied for a license and, once granted, they should operate under a specific country domain, like the domain .es for Spain, .it for Italy, .fr for France and so on.

I’ve been researching the matter and although there isn’t clear legislation on the subject, the binding opinion of the General Administration of gambling in my country states that cryptos sites should also get a license and operate under certain conditions, like fiat gambling sites.

[shintosai]

Gambling site like pd doesn't declare their actual earning, sort of security reason I guess. Paying taxes? tbh it doesn't matter on me wether they pay taxes or not on the country where they operates. As long as they are paying every withdrawal right away regardless the amount, it's fine on me.

Point is there mate as long as they still paying in the right manner maybe I won't also care if they are paying right taxes from their government as I know that they won't or theres no way to track if how much earning they have and its also differ from each countries that they belong,.

[BlockEye]

Gambling site like pd doesn't declare their actual earning, sort of security reason I guess. Paying taxes? tbh it doesn't matter on me wether they pay taxes or not on the country where they operates. As long as they are paying every withdrawal right away regardless the amount, it's fine on me.

Point is there mate as long as they still paying in the right manner maybe I won't also care if they are paying right taxes from their government as I know that they won't or theres no way to track if how much earning they have and its also differ from each countries that they belong,.

Make sense, as long as the companies have set of rules that are not terribly making wrong movement against Government then it will be fine. I think as long as they have physical company then they need to pay it.

[ArdiPrabowo]

i think only big gambling site, ready get high reagulate and legal
ussualy payment use fiat money, and register very dificult because must verified id, with high quality requirement

sample bwin, williamhill(from england) is ready regulate and payment tax