finaleshot2016
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Degen in the Space
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August 15, 2021, 11:03:45 PM |
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Exactly, if the government will impose high taxes on gambling, it's either they want to make more revenue while keeping the business alive or they just want to kill the industry as they don't want to put a complete ban on gambling. The purpose is really important, and if gambling operators still continue to operate despite the high taxes, that means they can afford to pay the taxes as they are running a profitable business.
Casinos are government's cash cow because it is patronized by rich people and the flow of money is continuous, the government knows that the money keeps flowing in and they want to have a share of that profit by imposing huge taxes, seldom we read that casinos folding because of the high taxes when they just impose the additional taxes to their players, so I believe the casinos will not die because of high taxes. Agreed, the government will continue to milk such casinos because they are one of the most lucrative sources of revenue because many gamblers play there 24/7. Because gambling is one of the affluent people's pastimes, large sums of money are constantly in circulation, and most casino minimum bets are so expensive that the typical person cannot afford them. So even the government implement such high taxes on gambling casinos, it'll run smoothly as nothing happened because of the high percentage of the business' revenue.
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STT
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August 15, 2021, 11:23:10 PM Last edit: August 15, 2021, 11:52:20 PM by STT |
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However, other countries simply set high taxes to these activities There is a reasonable argument that the tax is to pay for future costs to those activities. Most obvious would be smoking which has no toll for years until in later decades the person may have trouble breathing, cancer and all sorts of negatives like heart disease and many other costs to society, the person, their ability to work and also healthcare costs in countries that provide healthcare for all. That would be quite justified as we now know smoking has a very great cost in accumulation due to addiction and repetition. I dont class gambling as such a negative thing, the vast majority of people are just playing a game and I think only a minority could become dependent in some way perhaps. However its reasonable to tax to a small extent, not excessively but in a small reasonably competitive manner that is justified by the legal support of that government and nations infrastructure. I have no belief in excessive levels of tax for any product really, it only encourages business to occur elsewhere instead.
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TimeTeller
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August 15, 2021, 11:31:15 PM |
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Exactly, if the government will impose high taxes on gambling, it's either they want to make more revenue while keeping the business alive or they just want to kill the industry as they don't want to put a complete ban on gambling. The purpose is really important, and if gambling operators still continue to operate despite the high taxes, that means they can afford to pay the taxes as they are running a profitable business.
Casinos are government's cash cow because it is patronized by rich people and the flow of money is continuous, the government knows that the money keeps flowing in and they want to have a share of that profit by imposing huge taxes, seldom we read that casinos folding because of the high taxes when they just impose the additional taxes to their players, so I believe the casinos will not die because of high taxes. Agreed, the government will continue to milk such casinos because they are one of the most lucrative sources of revenue because many gamblers play there 24/7. Because gambling is one of the affluent people's pastimes, large sums of money are constantly in circulation, and most casino minimum bets are so expensive that the typical person cannot afford them. So even the government implement such high taxes on gambling casinos, it'll run smoothly as nothing happened because of the high percentage of the business' revenue. We all know that casinos are one of the lucrative sources of government's money. And the casinos will not agree with the implemented tax if they will head to bankruptcy. So if the casino feel that they can't pursue their business because of the tax, they can always negotiate with the government. The government will not resort to closing them down but instead the situation is more on meeting halfway. Unfortunately, the casino needs the government's permission before they can continue their business.
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Sithara007
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August 16, 2021, 03:40:59 AM |
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We all know that casinos are one of the lucrative sources of government's money. And the casinos will not agree with the implemented tax if they will head to bankruptcy. So if the casino feel that they can't pursue their business because of the tax, they can always negotiate with the government. The government will not resort to closing them down but instead the situation is more on meeting halfway. Unfortunately, the casino needs the government's permission before they can continue their business.
It is a very thin line. Casino business is very risky. A few jackpot wins by the customers can push the annual financial balance to red. That is why small players are largely absent from this business. And in case the tax rates go beyond a certain limit, then the casinos will be forced to increase the house advantage, in order to maintain the profit margin. The customers may notice this, and may instead go to illegal gambling dens. In the end, the legal casinos will lose their business, and the government will witness a fall in tax revenue.
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..Stake.com.. | | | ▄████████████████████████████████████▄ ██ ▄▄▄▄▄▄▄▄▄▄ ▄▄▄▄▄▄▄▄▄▄ ██ ▄████▄ ██ ▀▀▀▀▀▀▀▀▀▀ ██████████ ▀▀▀▀▀▀▀▀▀▀ ██ ██████ ██ ██████████ ██ ██ ██████████ ██ ▀██▀ ██ ██ ██ ██████ ██ ██ ██ ██ ██ ██ ██████ ██ █████ ███ ██████ ██ ████▄ ██ ██ █████ ███ ████ ████ █████ ███ ████████ ██ ████ ████ ██████████ ████ ████ ████▀ ██ ██████████ ▄▄▄▄▄▄▄▄▄▄ ██████████ ██ ██ ▀▀▀▀▀▀▀▀▀▀ ██ ▀█████████▀ ▄████████████▄ ▀█████████▀ ▄▄▄▄▄▄▄▄▄▄▄▄███ ██ ██ ███▄▄▄▄▄▄▄▄▄▄▄▄ ██████████████████████████████████████████ | | | | | | ▄▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▄ █ ▄▀▄ █▀▀█▀▄▄ █ █▀█ █ ▐ ▐▌ █ ▄██▄ █ ▌ █ █ ▄██████▄ █ ▌ ▐▌ █ ██████████ █ ▐ █ █ ▐██████████▌ █ ▐ ▐▌ █ ▀▀██████▀▀ █ ▌ █ █ ▄▄▄██▄▄▄ █ ▌▐▌ █ █▐ █ █ █▐▐▌ █ █▐█ ▀▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▀█ | | | | | | ▄▄█████████▄▄ ▄██▀▀▀▀█████▀▀▀▀██▄ ▄█▀ ▐█▌ ▀█▄ ██ ▐█▌ ██ ████▄ ▄█████▄ ▄████ ████████▄███████████▄████████ ███▀ █████████████ ▀███ ██ ███████████ ██ ▀█▄ █████████ ▄█▀ ▀█▄ ▄██▀▀▀▀▀▀▀██▄ ▄▄▄█▀ ▀███████ ███████▀ ▀█████▄ ▄█████▀ ▀▀▀███▄▄▄███▀▀▀ | | | ..PLAY NOW.. |
AVATAR & PERSONAL TEXT Leading Crypto Sports Betting & Casino Platform Feel free to drop your doubts bellow Report to moderator ♠ ♥ ♣ ♦ ▬▬▬ ▬ Stake.com / Play Smarter ▬ ▬▬▬ ♠ ♥ ♣ ♦ ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ L E A D I N G C R Y P T O C A S I N O & S P O R T S B E T T I N G Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here. Strongkored Legendary * Online Online Activity: 2072 Merit: 1061 View Profile Personal Message (Online) Trust: +0 / =0 / -0 Ignore Re: [OPEN]Stake.com NEW SIGNATURE CAMPAIGN l NEW PAYRATES l HERO & LEG ONLY May 31, 2022, 08:28:59 AM Reply with quote +Merit #2 Bitcointalk Username: strongkored Profile Link: https://bitcointalk.org/index.php?action=profile;u=640554Post Count: 5040 Forum Rank: Legendary Are you able to wear our Signature, Avatar & Personal Text? will wear upon receipt Stake
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Oshosondy
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Gamble responsibly
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August 16, 2021, 10:41:36 AM |
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The customers may notice this, and may instead go to illegal gambling dens. In the end, the legal casinos will lose their business, and the government will witness a fall in tax revenue.
Why will the customers go for illegal gambling when gambling is accepted in the country, only this can be used when gambling is not allowed in a country just like Muslims countries, but if gambling is legal, gambling sites will want to follow the rules and laws of their government. But what I know is that people that know about cryptocurrency's gambling site will see it attractive as no tax may be paid.
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stadus
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Hhampuz for Campaign management
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August 16, 2021, 11:57:50 AM |
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The customers may notice this, and may instead go to illegal gambling dens. In the end, the legal casinos will lose their business, and the government will witness a fall in tax revenue.
Why will the customers go for illegal gambling when gambling is accepted in the country, only this can be used when gambling is not allowed in a country just like Muslims countries, but if gambling is legal, gambling sites will want to follow the rules and laws of their government. But what I know is that people that know about cryptocurrency's gambling site will see it attractive as no tax may be paid. Some gamblers would still go in illegal casinos despite the country is legalizing gambling already, I think it's normal as some would want to have a different experience and probably the ambiance is different. There are even underground casinos, but personally, I have not experienced it yet.
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Fredomago
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August 16, 2021, 02:34:29 PM |
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The customers may notice this, and may instead go to illegal gambling dens. In the end, the legal casinos will lose their business, and the government will witness a fall in tax revenue.
Why will the customers go for illegal gambling when gambling is accepted in the country, only this can be used when gambling is not allowed in a country just like Muslims countries, but if gambling is legal, gambling sites will want to follow the rules and laws of their government. But what I know is that people that know about cryptocurrency's gambling site will see it attractive as no tax may be paid. Some gamblers would still go in illegal casinos despite the country is legalizing gambling already, I think it's normal as some would want to have a different experience and probably the ambiance is different. There are even underground casinos, but personally, I have not experienced it yet. Yeah right, there are gamblers who still play with underground casinos. They choose to play with some other gamblers who love to explore and feel the ambiance. Although they already have legal places to enjoy the game, they continue to patronize illegal gambling houses and continue to enjoy the way this kind of business is taking care of their gambling experiences. But likewise, if personally, I would rather play with the legal house than play with those underground gamings.
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..Stake.com.. | | | ▄████████████████████████████████████▄ ██ ▄▄▄▄▄▄▄▄▄▄ ▄▄▄▄▄▄▄▄▄▄ ██ ▄████▄ ██ ▀▀▀▀▀▀▀▀▀▀ ██████████ ▀▀▀▀▀▀▀▀▀▀ ██ ██████ ██ ██████████ ██ ██ ██████████ ██ ▀██▀ ██ ██ ██ ██████ ██ ██ ██ ██ ██ ██ ██████ ██ █████ ███ ██████ ██ ████▄ ██ ██ █████ ███ ████ ████ █████ ███ ████████ ██ ████ ████ ██████████ ████ ████ ████▀ ██ ██████████ ▄▄▄▄▄▄▄▄▄▄ ██████████ ██ ██ ▀▀▀▀▀▀▀▀▀▀ ██ ▀█████████▀ ▄████████████▄ ▀█████████▀ ▄▄▄▄▄▄▄▄▄▄▄▄███ ██ ██ ███▄▄▄▄▄▄▄▄▄▄▄▄ ██████████████████████████████████████████ | | | | | | ▄▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▄ █ ▄▀▄ █▀▀█▀▄▄ █ █▀█ █ ▐ ▐▌ █ ▄██▄ █ ▌ █ █ ▄██████▄ █ ▌ ▐▌ █ ██████████ █ ▐ █ █ ▐██████████▌ █ ▐ ▐▌ █ ▀▀██████▀▀ █ ▌ █ █ ▄▄▄██▄▄▄ █ ▌▐▌ █ █▐ █ █ █▐▐▌ █ █▐█ ▀▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▀█ | | | | | | ▄▄█████████▄▄ ▄██▀▀▀▀█████▀▀▀▀██▄ ▄█▀ ▐█▌ ▀█▄ ██ ▐█▌ ██ ████▄ ▄█████▄ ▄████ ████████▄███████████▄████████ ███▀ █████████████ ▀███ ██ ███████████ ██ ▀█▄ █████████ ▄█▀ ▀█▄ ▄██▀▀▀▀▀▀▀██▄ ▄▄▄█▀ ▀███████ ███████▀ ▀█████▄ ▄█████▀ ▀▀▀███▄▄▄███▀▀▀ | | | ..PLAY NOW.. |
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mirakal
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August 16, 2021, 02:36:48 PM |
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The customers may notice this, and may instead go to illegal gambling dens. In the end, the legal casinos will lose their business, and the government will witness a fall in tax revenue.
Why will the customers go for illegal gambling when gambling is accepted in the country, only this can be used when gambling is not allowed in a country just like Muslims countries, but if gambling is legal, gambling sites will want to follow the rules and laws of their government. But what I know is that people that know about cryptocurrency's gambling site will see it attractive as no tax may be paid. Some gamblers would still go in illegal casinos despite the country is legalizing gambling already, I think it's normal as some would want to have a different experience and probably the ambiance is different. There are even underground casinos, but personally, I have not experienced it yet. Yeah right, there are gamblers who still play with underground casinos. They choose to play with some other gamblers who love to explore and feel the ambiance. Although they already have legal places to enjoy the game, they continue to patronize illegal gambling houses and continue to enjoy the way this kind of business is taking care of their gambling experiences. But likewise, if personally, I would rather play with the legal house than play with those underground gamings. In illegal casinos, there are no taxes, so even if you win, you are not obliged to pay the taxes, I think that's one of the advantages why some gamblers choose to risk in playing this kind of platform. Maybe they also weight the risk and reward, if they get caught, what would be the jail time, or how much they'll pay for the bail, and other related things.
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..Stake.com.. | | | ▄████████████████████████████████████▄ ██ ▄▄▄▄▄▄▄▄▄▄ ▄▄▄▄▄▄▄▄▄▄ ██ ▄████▄ ██ ▀▀▀▀▀▀▀▀▀▀ ██████████ ▀▀▀▀▀▀▀▀▀▀ ██ ██████ ██ ██████████ ██ ██ ██████████ ██ ▀██▀ ██ ██ ██ ██████ ██ ██ ██ ██ ██ ██ ██████ ██ █████ ███ ██████ ██ ████▄ ██ ██ █████ ███ ████ ████ █████ ███ ████████ ██ ████ ████ ██████████ ████ ████ ████▀ ██ ██████████ ▄▄▄▄▄▄▄▄▄▄ ██████████ ██ ██ ▀▀▀▀▀▀▀▀▀▀ ██ ▀█████████▀ ▄████████████▄ ▀█████████▀ ▄▄▄▄▄▄▄▄▄▄▄▄███ ██ ██ ███▄▄▄▄▄▄▄▄▄▄▄▄ ██████████████████████████████████████████ | | | | | | ▄▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▄ █ ▄▀▄ █▀▀█▀▄▄ █ █▀█ █ ▐ ▐▌ █ ▄██▄ █ ▌ █ █ ▄██████▄ █ ▌ ▐▌ █ ██████████ █ ▐ █ █ ▐██████████▌ █ ▐ ▐▌ █ ▀▀██████▀▀ █ ▌ █ █ ▄▄▄██▄▄▄ █ ▌▐▌ █ █▐ █ █ █▐▐▌ █ █▐█ ▀▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▀█ | | | | | | ▄▄█████████▄▄ ▄██▀▀▀▀█████▀▀▀▀██▄ ▄█▀ ▐█▌ ▀█▄ ██ ▐█▌ ██ ████▄ ▄█████▄ ▄████ ████████▄███████████▄████████ ███▀ █████████████ ▀███ ██ ███████████ ██ ▀█▄ █████████ ▄█▀ ▀█▄ ▄██▀▀▀▀▀▀▀██▄ ▄▄▄█▀ ▀███████ ███████▀ ▀█████▄ ▄█████▀ ▀▀▀███▄▄▄███▀▀▀ | | | ..PLAY NOW.. |
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bryant.coleman
Legendary
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Merit: 1217
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August 16, 2021, 03:49:18 PM |
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The customers may notice this, and may instead go to illegal gambling dens. In the end, the legal casinos will lose their business, and the government will witness a fall in tax revenue.
Why will the customers go for illegal gambling when gambling is accepted in the country, only this can be used when gambling is not allowed in a country just like Muslims countries, but if gambling is legal, gambling sites will want to follow the rules and laws of their government. But what I know is that people that know about cryptocurrency's gambling site will see it attractive as no tax may be paid. Normal people won't consider illegal casinos, if the legal ones are available. But legal casinos, for most part have strict KYC requirements. And this creates issues for those who have unaccounted funds, or those who have links with shady transactions. I don't think that someone would go to an illegal casino just because the house advantage is one or two percentage lower. The only instance when they depend on an illegal casino is in cases where they have issues with KYC requirements or they are legally prohibited from spending their funds on gambling.
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Viscore
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August 16, 2021, 04:18:28 PM |
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The customers may notice this, and may instead go to illegal gambling dens. In the end, the legal casinos will lose their business, and the government will witness a fall in tax revenue.
Why will the customers go for illegal gambling when gambling is accepted in the country, only this can be used when gambling is not allowed in a country just like Muslims countries, but if gambling is legal, gambling sites will want to follow the rules and laws of their government. But what I know is that people that know about cryptocurrency's gambling site will see it attractive as no tax may be paid. Normal people won't consider illegal casinos, if the legal ones are available. But legal casinos, for most part have strict KYC requirements. And this creates issues for those who have unaccounted funds, or those who have links with shady transactions. I don't think that someone would go to an illegal casino just because the house advantage is one or two percentage lower. The only instance when they depend on an illegal casino is in cases where they have issues with KYC requirements or they are legally prohibited from spending their funds on gambling. It does not automatically mean that you have shady transactions if you prefer to use a non-regulated casino or illegal casino, some just don't want to divulge their personal information as they want to keep it private, and for me, privacy really matters that's why I choose to gamble in crypto casinos that has no KYC requirement, and until now, there's still many of them in the space.
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fiulpro
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August 16, 2021, 04:32:22 PM |
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I was thinking that many countries are reluctant to legalise certain activities such as gambling, prostitution, smoking, ... and, apart from countries that have strong social and religious restrictions (I refer to those as the death-by-boredom countries) others simply consider than the state should not profit or allow activities that are considered diminishing for the workers or that may harm their health and personal relations (it must be difficult to be an addict to gambling or a prostitute and have a normal life).
However, other countries simply set high taxes to these activities, which I think is a false morality, as if by paying these activities can be less questionable. (Note: I personally do not question regulated gambling).
Well am not sure if it's a really good idea that the government is earning from all the gambling companies and during the pandemic they did increase the tax, by a hell lot therefore I do think that they don't have a moral ground for doing that. The countries with Muslim dominated population are the ones which are trying to force the religion onto people and I did see a post where there were photos from south Arabia showing people gambling. Regulations are good but only when they are not exploiting the very industry that they are gaining the profit from.
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qwertyup23
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August 16, 2021, 04:47:41 PM |
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Well am not sure if it's a really good idea that the government is earning from all the gambling companies and during the pandemic they did increase the tax, by a hell lot therefore I do think that they don't have a moral ground for doing that.
The countries with Muslim dominated population are the ones which are trying to force the religion onto people and I did see a post where there were photos from south Arabia showing people gambling.
Regulations are good but only when they are not exploiting the very industry that they are gaining the profit from.
I think the moral ground in order to validate the government's move of increasing their tax on gambling is for their expenditure. Like what I previously mentioned, taxes are what enables the government to function and to provide projects for the community. Given that gambling, in general, is widespread popular, it is evident and obvious that they would have to increase the taxes by a lot. Regulations are definitely good as long as they do not exceed or destroy a business activity. Any regulation that restricts or provides unreasonable fees has the potential of destroying businesses in the country- in which the government would also suffer during the process.
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Gozie51
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August 16, 2021, 04:52:21 PM |
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But what I know is that people that know about cryptocurrency's gambling site will see it attractive as no tax may be paid.
You don't think that a country that legalize cryptocreency use will always put an eyes in every aspect that has something doing with cryptocreency including gambling especially when tax is followed up too. I think it will and the management of the business will be taxed if the gamblers can't be made to pay for winnings.
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Ziskinberg
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August 16, 2021, 08:44:39 PM |
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But what I know is that people that know about cryptocurrency's gambling site will see it attractive as no tax may be paid.
You don't think that a country that legalize cryptocreency use will always put an eyes in every aspect that has something doing with cryptocreency including gambling especially when tax is followed up too. I think it will and the management of the business will be taxed if the gamblers can't be made to pay for winnings. Gamblers and gambling operators have different tax liabilities, and they do process the filing separately, however, if the regulators will direct the casinos to be withholding tax agents, then they can withheld taxes from the gamblers' winnings and gambling will not need to worry in filing the tax.
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tippytoes
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August 16, 2021, 09:13:13 PM |
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But what I know is that people that know about cryptocurrency's gambling site will see it attractive as no tax may be paid.
You don't think that a country that legalize cryptocreency use will always put an eyes in every aspect that has something doing with cryptocreency including gambling especially when tax is followed up too. I think it will and the management of the business will be taxed if the gamblers can't be made to pay for winnings. Gamblers and gambling operators have different tax liabilities, and they do process the filing separately, however, if the regulators will direct the casinos to be withholding tax agents, then they can withheld taxes from the gamblers' winnings and gambling will not need to worry in filing the tax. I think what Oshosondy was trying to say is that crypto gambling sites may not be paying taxes, so it is an attractive opportunity. I believe for those who don't have any gambling license, or any type of business registration, they are not paying any taxes. However, without gambling license, it would take time for the site to earn credibility from the gambling community.
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Sithara007
Legendary
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August 17, 2021, 03:50:09 AM |
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Gamblers and gambling operators have different tax liabilities, and they do process the filing separately, however, if the regulators will direct the casinos to be withholding tax agents, then they can withheld taxes from the gamblers' winnings and gambling will not need to worry in filing the tax.
These are two types of taxes. In case of casinos, they needs to pay the corporate tax, while in case of the gamblers, they are required to pay income tax. Tax withholding is usually done in case of large winnings and the threshold may vary from country to country. Personally I don't support taxing the gamblers, as it amounts to double taxation. And many of the countries (especially those in the European Union) don't levy a tax on the winnings. On the other hand, in the US the gamblers are required to pay tax on their winning amount.
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..Stake.com.. | | | ▄████████████████████████████████████▄ ██ ▄▄▄▄▄▄▄▄▄▄ ▄▄▄▄▄▄▄▄▄▄ ██ ▄████▄ ██ ▀▀▀▀▀▀▀▀▀▀ ██████████ ▀▀▀▀▀▀▀▀▀▀ ██ ██████ ██ ██████████ ██ ██ ██████████ ██ ▀██▀ ██ ██ ██ ██████ ██ ██ ██ ██ ██ ██ ██████ ██ █████ ███ ██████ ██ ████▄ ██ ██ █████ ███ ████ ████ █████ ███ ████████ ██ ████ ████ ██████████ ████ ████ ████▀ ██ ██████████ ▄▄▄▄▄▄▄▄▄▄ ██████████ ██ ██ ▀▀▀▀▀▀▀▀▀▀ ██ ▀█████████▀ ▄████████████▄ ▀█████████▀ ▄▄▄▄▄▄▄▄▄▄▄▄███ ██ ██ ███▄▄▄▄▄▄▄▄▄▄▄▄ ██████████████████████████████████████████ | | | | | | ▄▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▄ █ ▄▀▄ █▀▀█▀▄▄ █ █▀█ █ ▐ ▐▌ █ ▄██▄ █ ▌ █ █ ▄██████▄ █ ▌ ▐▌ █ ██████████ █ ▐ █ █ ▐██████████▌ █ ▐ ▐▌ █ ▀▀██████▀▀ █ ▌ █ █ ▄▄▄██▄▄▄ █ ▌▐▌ █ █▐ █ █ █▐▐▌ █ █▐█ ▀▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▀█ | | | | | | ▄▄█████████▄▄ ▄██▀▀▀▀█████▀▀▀▀██▄ ▄█▀ ▐█▌ ▀█▄ ██ ▐█▌ ██ ████▄ ▄█████▄ ▄████ ████████▄███████████▄████████ ███▀ █████████████ ▀███ ██ ███████████ ██ ▀█▄ █████████ ▄█▀ ▀█▄ ▄██▀▀▀▀▀▀▀██▄ ▄▄▄█▀ ▀███████ ███████▀ ▀█████▄ ▄█████▀ ▀▀▀███▄▄▄███▀▀▀ | | | ..PLAY NOW.. |
AVATAR & PERSONAL TEXT Leading Crypto Sports Betting & Casino Platform Feel free to drop your doubts bellow Report to moderator ♠ ♥ ♣ ♦ ▬▬▬ ▬ Stake.com / Play Smarter ▬ ▬▬▬ ♠ ♥ ♣ ♦ ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ L E A D I N G C R Y P T O C A S I N O & S P O R T S B E T T I N G Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here. Strongkored Legendary * Online Online Activity: 2072 Merit: 1061 View Profile Personal Message (Online) Trust: +0 / =0 / -0 Ignore Re: [OPEN]Stake.com NEW SIGNATURE CAMPAIGN l NEW PAYRATES l HERO & LEG ONLY May 31, 2022, 08:28:59 AM Reply with quote +Merit #2 Bitcointalk Username: strongkored Profile Link: https://bitcointalk.org/index.php?action=profile;u=640554Post Count: 5040 Forum Rank: Legendary Are you able to wear our Signature, Avatar & Personal Text? will wear upon receipt Stake
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Silberman
Legendary
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Activity: 2506
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August 18, 2021, 05:20:43 PM |
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Exactly, if the government will impose high taxes on gambling, it's either they want to make more revenue while keeping the business alive or they just want to kill the industry as they don't want to put a complete ban on gambling. The purpose is really important, and if gambling operators still continue to operate despite the high taxes, that means they can afford to pay the taxes as they are running a profitable business.
But things are never that simple, you need to understand that there are going to be consequences for increasing taxes to very high levels, and without a doubt one of those consequences is that many casinos are not going to be able to keep themselves operating and they are going to close down their doors especially after they were forced to keep their doors closed because of the pandemic, and this means that many illegal casinos are going to appear that do not really care about anything except making profits which will accelerate somewhat the rate at which the virus moves among that population as no preventive measures are taken in those casinos.
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Vaculin
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August 18, 2021, 08:50:49 PM |
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Exactly, if the government will impose high taxes on gambling, it's either they want to make more revenue while keeping the business alive or they just want to kill the industry as they don't want to put a complete ban on gambling. The purpose is really important, and if gambling operators still continue to operate despite the high taxes, that means they can afford to pay the taxes as they are running a profitable business.
But things are never that simple, you need to understand that there are going to be consequences for increasing taxes to very high levels, and without a doubt one of those consequences is that many casinos are not going to be able to keep themselves operating and they are going to close down their doors especially after they were forced to keep their doors closed because of the pandemic, and this means that many illegal casinos are going to appear that do not really care about anything except making profits which will accelerate somewhat the rate at which the virus moves among that population as no preventive measures are taken in those casinos. They'll know when the tax is agreed excessive and they can't survive anymore, if that's the purpose of the government for raising the tax rate to an unreasonable rate, then most probably no casinos will last and the country will become a gambling free country. However, on the other hand, they also need to understand that they are letting go of revenue they could potentially collect, so if they can let go of that, the changes still favor the government or the country.
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worldofcoins
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August 18, 2021, 09:57:01 PM |
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My opinion is that allowing the gambling industry to operate, even with higher taxes is much more preferable than imposing a blanket ban on all gambling activity. Take the case of countries such as India, Indonesia and Bangladesh. There is a blanket ban on gambling, but there is no dearth of illegal gambling dens. This results in ordinary people losing their hard earned money, as many of these illegal casinos are not regulated and indulges in fraud. Also, a part of the proceedings are used to bribe the cops and politicians.
It's useless if the government will ban gambling but they will not strictly implement the law, there's a big reason why they ban gambling and that is because they believe it makes people poor and will increase the poverty rate in a country, while some countries ban gambling due to religious belief. Strict implementation is necessary so corrupt officials will also be punished. I read somewhere that some casinos in Las Vegas charge over 10% house edge in most of their games and most likely they pay the taxes from those rather than the customer losing them but I'm not sure about it, Can someone explain what criteria the government will use while taxing the casinos. Will casinos are paying the taxes only from the winnings from their customers but not on their casino's losing bets Or every bet made in the casino will be taxed.
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Fatunad
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August 18, 2021, 10:45:07 PM |
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My opinion is that allowing the gambling industry to operate, even with higher taxes is much more preferable than imposing a blanket ban on all gambling activity. Take the case of countries such as India, Indonesia and Bangladesh. There is a blanket ban on gambling, but there is no dearth of illegal gambling dens. This results in ordinary people losing their hard earned money, as many of these illegal casinos are not regulated and indulges in fraud. Also, a part of the proceedings are used to bribe the cops and politicians.
It's useless if the government will ban gambling but they will not strictly implement the law, there's a big reason why they ban gambling and that is because they believe it makes people poor and will increase the poverty rate in a country, while some countries ban gambling due to religious belief. Strict implementation is necessary so corrupt officials will also be punished. I read somewhere that some casinos in Las Vegas charge over 10% house edge in most of their games and most likely they pay the taxes from those rather than the customer losing them but I'm not sure about it, Can someone explain what criteria the government will use while taxing the casinos. Will casinos are paying the taxes only from the winnings from their customers but not on their casino's losing bets Or every bet made in the casino will be taxed. For sure it would be in over all revenue and wouldnt matter if its a losing or winning bet because it is just too nonsense or would really be a big work to be done if they would one it individually. Just like on how traditional business would be taxed out where it would always matter in overall revenue.I havent seen that gamblers been taxed individually but rather the house itself will really be setting some House edge change or something like that and we know that gambling business is really a profitable one and really sustainable. Taxation is normal though.
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