Are the Big Gambling sites paying taxes?

[The_prodigy]

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 kinda depends on the regulation laws on where the website originated. Some countries have harsher and stricter regulations on gambling sites while some have very lax and giving laws for it. That is why i think some people are moving to those countries as it is easier to live off there.

[MFahad]

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.

i think gambling sites is not paying taxes for government because the site is online and how government will trace their revenue from gambling? even if they can, the sites is not always hosting in their territory so there is not related with them. and if the gambling sites have physical compane, then they are only pay taxes for their office too unless they give the complete assets they have to the government then government will decide to included in the list to pay taxes or not.

This statement might be true for Asian countries which are not so developed yet. In U.S and other western countries, they have to pay taxes on online sites too as most of the business run on-line in developed countries.  It is the legal right of the country to get taxes from the income of the gambling sites and keep the running of the country operation smooth. Taxes should be given to keep the government run the expenses in running and managing the country.

[ardentvolcanoes]

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 kinda depends on the regulation laws on where the website originated. Some countries have harsher and stricter regulations on gambling sites while some have very lax and giving laws for it. That is why i think some people are moving to those countries as it is easier to live off there.

I agree mate, when it comes to gambling sites I believe government are very strict in their regulations. They will also inspect and investigate to check the credibility of the site itself to avoid fraudulent activity. That's why also is real casino places there's a lot of permit that need to be submitted before they will allow you to operate the site.

[LuffyD.Monkey]

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.

I feel sorry to inform you that all the governments of the world are not really consist of good people. World's biggest disasters were caused by politicians for their own personal purposes. If they can kill people then making them a beggar is definitely nothing for them. Everyone uses his authority for himself first.

[JL421]

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

But those are regulated ones not every gambling site can get regulation you need to follow so many rules , agree to mamy terms and other sort of permissions are required not everyone is able to afford it or can get it it's better if it's not regulated they don't have to too mamy taxes

[BlockEye]

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

But those are regulated ones not every gambling site can get regulation you need to follow so many rules , agree to mamy terms and other sort of permissions are required not everyone is able to afford it or can get it it's better if it's not regulated they don't have to too mamy taxes

Online Casinos are also paying taxes same as Land Base casino especially if they have specified a company or they have built an organization, They are paying license and tax on the country that they declare to establish.

[eann014]

I think depends on gambling site, I guess online gambling doesn't have taxes because that is not under government, unlike to those who have a physical stores and they need to register their business under government so they need to pay taxes for it and depend on how much income they have in a Month.

As long as the business have a built or physical companies,with employees . They are required to have a registration at the Government, but if they are only operating online without a physical company then they are not allowed.

Yeah, I agree, because once online gambling sites doesn't need to have an employee's, they don't need to apply for some documents that needs to pass on governments. Online gambling sites are not paying taxes so, all their incomes are end up with their bank accounts, unlike to those who have physical stores like casinos that needs to register in the Government. They really need to pay tax or else they will have penalties.

[jamids]

I think the gambling sites that operates in a country where gambling is legal should pay taxes if the government knows that they are operating because they cannot operate if they don't pay. If they operate in a country where gambling is suppose to be illegal then they are not paying taxes simply because the moment the government knows they do that, then they would be penalized. Those sites that operate using cryptocurrencies I suppose do not pay taxes.

[zulkarnaen]

In my opinion, tax payments on gambling sites are definitely dependent on their country's policy on tax rules for gambling because not all countries have tax laws on gambling and even some states prohibit gambling.

[biskitop]

Of course. Try to imagine, every big gambling house, definitely get a great income as well. The government certainly does not want to lose taxes for it. Taxes are also useful for large gambling house (and official) as legal protection.

[lamjed]

In general yes, most of the gambling sites are paying taxes except Planetwin365. The seat of this compaign is in Giblartar. In this country Taxes are not counted. it reminds a bit Panama's system.

[ccris0637]

I think for gambling sites who are operating legally yes they pay taxes in response with their base country regulation just same with gambling casino who are using fiat money casinos with permit to operate pay taxes and those small time gambling are not but consider illegal and would pay fines if ever they are caught into operation.

[Seeker#9]

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.

[mostkey]

I think for gambling sites who are operating legally yes they pay taxes in response with their base country regulation just same with gambling casino who are using fiat money casinos with permit to operate pay taxes and those small time gambling are not but consider illegal and would pay fines if ever they are caught into operation.

very risky if the current online casino does not pay taxes. this must be paid because they also need security because they do not want to netted the operation. because if it happens they need to issue a bigger fine. although I believe many online casinos are illegal

[God Fist]

Big gambling websites are usually offshore companies that can be just based in some house or garage and passing unknown for the authorities or even the people living in that area since it is illegal in most countries to gamble online . In fact many countries banned such games since it is tax free thus eliminating the profit that the country might have from such games and potential winnings so they tried to block credit cards from deposing in those websites or just not let people have access to it . Bitcoin has however solved that problem for a lot of people since it keeps the secrecy of the users .

[gabmen]

I think for gambling sites who are operating legally yes they pay taxes in response with their base country regulation just same with gambling casino who are using fiat money casinos with permit to operate pay taxes and those small time gambling are not but consider illegal and would pay fines if ever they are caught into operation.

very risky if the current online casino does not pay taxes. this must be paid because they also need security because they do not want to netted the operation. because if it happens they need to issue a bigger fine. although I believe many online casinos are illegal

Well with the amount that they're generating everyday, its just right they pay tax dues. These gambling sites are likely being monitored by their governments so they really have to pay taxes

[Theb]

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.

I feel sorry to inform you that all the governments of the world are not really consist of good people. World's biggest disasters were caused by politicians for their own personal purposes. If they can kill people then making them a beggar is definitely nothing for them. Everyone uses his authority for himself first.

Kiweikoo I don't know why you are blaming the government as well as the casinos for ruining the lives of its users when the users themselves are the ones who are getting addicted to the game without the casino forcing them to play. The government of course are the ones who are allowing these kinds of businesses as they know that they are good money for the nation's income and also it serves as an entertainment for both their citizens and their tourists. Remember that the problem here is not the casino itself but the players themselves.

[siti25]

Is there a legal gambling site? Gambling sites that get permission from the government? If there are, then they should pay taxes. But different if they do not have permission from the government or they are illegal, then they do not need to pay taxes. They should pay, but they are released because it is not monitored by the government.

[blockman]

Big gambling websites are usually offshore companies that can be just based in some house or garage

The same as I'm thinking of those big gambling casino's, they might also have an office or something like that but for bigger ones they must comply and have their own permit to operate. For small or start up casino's this is the reality that they are just starting out through their own rooms or garage together with his partner, maybe their team is compose of 3-5 people. To secure their growing business they need to do something so that authorities eyes will be far from them so paying tax is one of it.

[Netnox]

Most of the gambling sites are registered in countries such as Dominica and St.Kitts-Nevis, where there is no corporate tax. But at the same time, the users are liable to pay income tax on the earnings they receive from these sites, as they meet the residency requirement of the country in which they are living in. Actually this puts offline casinos at a disadvantage when compared to the online ones.