Nigerian Government plans to begin taxing gambling.

[Gheka]

Yeah, it's a huge jackpot and life changing win. And also, another condition is that whoever made that raffle says that it is tax-free then it is going to be tax free. It's either exempted from the taxes or they're the ones that are going to be obliged paying the taxes. So, on top of the jackpot money, if they'll be paying it then that's a lot of money on them to pay for.

I believe it’s a withholding tax, where the government makes sure they get their cut, so your net winnings are what’s left after the tax deduction. It used to be tax-free, but now it seems the government is eager to grab a bigger share of people's money. Personally, I wouldn’t mind being taxed on a lottery win rather than not winning at all --after all, the odds of winning the lottery are nearly impossible, almost like throwing money down the drain.

Yeah, I'll take the prize money as well and wouldn't mind have it taxed at all. Even in the US, there are taxes that they need to deduct as per winning prize money.
That's why they're used to say about 'after-taxes' prize money and that's because taxation bureau there is very strict and if there are violators, they'll be fine with bigger amounts.

The important thing is that in the US, such taxes are being used to make useful contributions to society. The taxes can be called very high, but then the people will receive other better services in return, while in countries like Nigeria, and even in many other countries, this tax money is not intended to fill the treasury to serve the people, it fills the pockets of some corrupt classes. Besides, the governments of these countries are relatively strict and do not create much space for casino owners, it feels like they do not prioritize the gambling industry as a service that should develop when the national financial system does not depend on this industry.

[LUCKMCFLY]

If the crypto casino is regulated, they can also still be affected since the majority of the popular casinos are fully regulated.

There is a possibility that they can be asked by their license providers to provide the deposit, winnings, and withdrawal details of their citizens who gamble there, which they can still tax from there. Unless the casino is not regulated, only then can we be rest assured that it's completely free from taxation.

Well in part everything that is about Regulations with respect to crypto and casinos is not having privacy or animation ever again, people at this point should see that it is increasingly difficult for them to do an Activity without a government Monitoring it , it calls my attention that in Nigeria they do this type of things, of course it is something that should not be, at least I do not agree with that, but you have to accept that since the KYC became Mandatory for everyone in the world , this was already coming, I have Always wanted to go to Nigeria , and if I go I will not hesitate to be in a casino , you Always have to know anything that is necessary.

[Dr.Bitcoin_Strange]

The important thing is that in the US, such taxes are being used to make useful contributions to society. The taxes can be called very high, but then the people will receive other better services in return, while in countries like Nigeria, and even in many other countries, this tax money is not intended to fill the treasury to serve the people, it fills the pockets of some corrupt classes. Besides, the governments of these countries are relatively strict and do not create much space for casino owners, it feels like they do not prioritize the gambling industry as a service that should develop when the national financial system does not depend on this industry.

That's where the problem lay and it has even been a thing if concern to citizens too that if such tax is being passed, the government will not still do anything good to improve the state of some sport or gambling activities in the country but rather the money will just go for their selfish interest.

[khiholangkang]

If the crypto casino is regulated, they can also still be affected since the majority of the popular casinos are fully regulated.

There is a possibility that they can be asked by their license providers to provide the deposit, winnings, and withdrawal details of their citizens who gamble there, which they can still tax from there. Unless the casino is not regulated, only then can we be rest assured that it's completely free from taxation.

Well in part everything that is about Regulations with respect to crypto and casinos is not having privacy or animation ever again, people at this point should see that it is increasingly difficult for them to do an Activity without a government Monitoring it , it calls my attention that in Nigeria they do this type of things, of course it is something that should not be, at least I do not agree with that, but you have to accept that since the KYC became Mandatory for everyone in the world , this was already coming, I have Always wanted to go to Nigeria , and if I go I will not hesitate to be in a casino , you Always have to know anything that is necessary.

I agree with you that today's regulated casinos will definitely not have Privacy, if we force ourselves about Privacy of course it will be useless with the current situation, except maybe casinos that are decentralized and do not have a head office as their service operations.
The existence of KYC is indeed this kind of thing is certainly a thing that is not strange and it is likely that in the future it will be much stricter to talk about casinos, but even so everything that is done is definitely positive for both users and the government in talking about fair and controlled casinos and reducing crime.

[madnessteat]

Judging from the feedback from Nigerians who are with us on the forum, life in Nigeria can hardly be called happy. People, out of desperation and unemployment, are forced to play in casinos to somehow earn money for their families, but their corrupt government seems to want to completely strangle the people, inventing more and more harsh taxes. I read that there is no cash in the country; just as it cannot be withdrawn from banks, now people also have to pay taxes on gambling sites. It is not surprising that many risk their lives and immigrate to other countries, hoping to give themselves and their families a better way of life.

I don't even know what is better than immigration or the lifestyle these people are forced to live, because immigration does carry very high risks, both for those who go to other countries for a better life and for their families. Unfortunately immigration becomes a one-way ticket for many. I once saw the movie “Io capitano”. Although the movie is not about gambling, it will be interesting for those who are not familiar with the risks of immigration. This movie is based on real events and it tells in great detail the story of two brothers from Senegal who are trying to get to Europe to help their families get out of poverty. I think that migration from Nigeria has all the same risks as immigration from Sinegal.

[taufik123]

-snip-
this tax money is not intended to fill the treasury to serve the people, it fills the pockets of some corrupt classes. Besides, the governments of these countries are relatively strict and do not create much space for casino owners, it feels like they do not prioritize the gambling industry as a service that should develop when the national financial system does not depend on this industry.

Hahaha wherever this always happens, some corrupt people take advantage of this opportunity to start extorting money from the casino, this looks sweet and becomes easy money to get.

In my country casinos do not have any space and there are no illegal casinos, but behind all that there are many illegal casinos that operate but they escape scrutiny, even camouflage as games that look like ordinary games.

Some local casino sites also continue to appear with regular domain changes to avoid detection, but even so the bookmaker who has a lot of money will make it all safe because the government security personnel have guaranteed it, This is like a disaster that exists in a country.

[madnessteat]

^

The history of many countries clearly shows that if the government of the country prohibits any activity, then after a while this activity simply goes into a gray zone and is controlled by organized crime. This does not only apply to gambling. The same thing happened during the prohibition of alcohol in the countries where prohibition was introduced. Therefore, total prohibition does not solve these problems.

In my opinion, regulation and taxation works much better, of course, if most of the money goes to the budget and not to the pockets of corrupt officials.

[Orpichukwu]

Well in part everything that is about Regulations with respect to crypto and casinos is not having privacy or animation ever again, people at this point should see that it is increasingly difficult for them to do an Activity without a government Monitoring it , it calls my attention that in Nigeria they do this type of things, of course it is something that should not be, at least I do not agree with that, but you have to accept that since the KYC became Mandatory for everyone in the world , this was already coming, I have Always wanted to go to Nigeria , and if I go I will not hesitate to be in a casino , you Always have to know anything that is necessary.

It's good to read that there are people who still pick interest in visiting my country. Back to the local gambling platforms, which I make use of here, unless there is a need for KYC to be passed; if not, since I have been using them aside from the compulsory phone number and email, I have not submitted my private information for verification, although the local bank I use for withdrawal is enough to get whatever information they need from there.

[SmartGold01]

Well in part everything that is about Regulations with respect to crypto and casinos is not having privacy or animation ever again, people at this point should see that it is increasingly difficult for them to do an Activity without a government Monitoring it , it calls my attention that in Nigeria they do this type of things, of course it is something that should not be, at least I do not agree with that, but you have to accept that since the KYC became Mandatory for everyone in the world , this was already coming, I have Always wanted to go to Nigeria , and if I go I will not hesitate to be in a casino , you Always have to know anything that is necessary.

It's good to read that there are people who still pick interest in visiting my country. Back to the local gambling platforms, which I make use of here, unless there is a need for KYC to be passed; if not, since I have been using them aside from the compulsory phone number and email, I have not submitted my private information for verification, although the local bank I use for withdrawal is enough to get whatever information they need from there.

Most of local casino or betting site doesn't need kyc the only kyc much needed is if your real name used in signing up the casino/gambling site correlate with your bank details then it's fine, the kyc is don but in a situation where your bank name and casino signed name aren't reflected then there is need for kyc. But however, local casinos/betting sites doesn't often required kyc to make withdrawal as you already said, mobile number and bank name reflecting to the casino is always a win win for withdrawal, that is for the local casinos. But cryptocurrency casino they all required kyc to make withdrawal and it's compulsory for one to be able to withdraw their funds.

[MrEazyLife]

I was reading the news and saw that Nigerian government will soon introduce taxation to gambling. Taxation on gambling is not new in some countries so this will not be surprising to many people. But to Nigerians who are already experiencing difficulty in the economy do you think it is good for the government to still be planning imposing tax on gambling? there are gamblers who still gamble for fun in the country, will imposing a tax on it not push this people closer to depression as some may find it difficult to gamble comfortably. I also find it strange that the World Bank is supporting this with a financial support package of value close to $2.25million.
Since the taxation may not affect the crypto gambling community in Nigeria, this will encourage more gamblers to gamble now on crypto platforms right?

https://www.thecable.ng/world-bank-offers-support-as-fg-plans-to-introduce-telecoms-gambling-taxes/

At this very point, it’s so obvious that Nigeria government has nothing to offer to the people, rather they chose to keep oppressing them and looking for way to extract money from the little the make to survive. Not minding the source of this their income.
This are the same government that condemned gambling and is trying to put a stop to it. While others in the north are already taking actions towards bet shop owners. Some are planning of enforcing taxation on gambling.
Is it not obvious the government not being so selfish, has nothing to offer. This are some bunch of confused people who forcing took powers in to their hands without having what it takes to lead a good society and make impact. It’s time the citizens come together and put airside tribalism and religion to fight for what is right.
Even after successful enforcing that law of paying tax. They still won’t use the money for anything meaningful for the citizens. It will end up in their own pocket.

[Fiatless]

Most of local casino or betting site doesn't need kyc the only kyc much needed is if your real name used in signing up the casino/gambling site correlate with your bank details then it's fine, the kyc is don but in a situation where your bank name and casino signed name aren't reflected then there is need for kyc. But however, local casinos/betting sites doesn't often required kyc to make withdrawal as you already said, mobile number and bank name reflecting to the casino is always a win win for withdrawal, that is for the local casinos. But cryptocurrency casino they all required kyc to make withdrawal and it's compulsory for one to be able to withdraw their funds.

If a casino has your bank account and phone, that's KYC. The bank would require nearly all of your personal information before allowing you to open an account. Therefore, if necessary, a casino that has a gambler's bank account can also get in touch with the bank to request additional information. It is simple to obtain personal information in certain countries where a gambler's phone number is linked to their identity. The point I am trying to make is that phone number and account number are enough KYC.

If a customer deposits a significant amount of money into their account, the casino may also request KYC. Usually, this is done to make sure the account has not been used fraudulently or illegally. 

[SmartGold01]

Most of local casino or betting site doesn't need kyc the only kyc much needed is if your real name used in signing up the casino/gambling site correlate with your bank details then it's fine, the kyc is don but in a situation where your bank name and casino signed name aren't reflected then there is need for kyc. But however, local casinos/betting sites doesn't often required kyc to make withdrawal as you already said, mobile number and bank name reflecting to the casino is always a win win for withdrawal, that is for the local casinos. But cryptocurrency casino they all required kyc to make withdrawal and it's compulsory for one to be able to withdraw their funds.

If a casino has your bank account and phone, that's KYC. The bank would require nearly all of your personal information before allowing you to open an account. Therefore, if necessary, a casino that has a gambler's bank account can also get in touch with the bank to request additional information. It is simple to obtain personal information in certain countries where a gambler's phone number is linked to their identity. The point I am trying to make is that phone number and account number are enough KYC.

If a customer deposits a significant amount of money into their account, the casino may also request KYC. Usually, this is done to make sure the account has not been used fraudulently or illegally. 

You are right I can also remember when local casino asked for my mobile number that was tied to my local account, and when sent all my document were reveal just as it's to BVN or NIN , if you have correct details it's tie to them and when this number is required by casino or gambling site there's no other way to request for additional kyc while the details was already coded into that number you sent to them. The only further things that could be required is to go residential address and I think this is not deemed necessary.

[Agbe]

Most of local casino or betting site doesn't need kyc the only kyc much needed is if your real name used in signing up the casino/gambling site correlate with your bank details then it's fine, the kyc is don but in a situation where your bank name and casino signed name aren't reflected then there is need for kyc. But however, local casinos/betting sites doesn't often required kyc to make withdrawal as you already said, mobile number and bank name reflecting to the casino is always a win win for withdrawal, that is for the local casinos. But cryptocurrency casino they all required kyc to make withdrawal and it's compulsory for one to be able to withdraw their funds.

If a casino has your bank account and phone, that's KYC. The bank would require nearly all of your personal information before allowing you to open an account. Therefore, if necessary, a casino that has a gambler's bank account can also get in touch with the bank to request additional information. It is simple to obtain personal information in certain countries where a gambler's phone number is linked to their identity. The point I am trying to make is that phone number and account number are enough KYC.

If a customer deposits a significant amount of money into their account, the casino may also request KYC. Usually, this is done to make sure the account has not been used fraudulently or illegally. 

I have not even seen any casino or betting site in Nigeria that does not need or request KYC and all the ones I know ask KYC. And as Fiatless said. KYC is not when you write all your information like number, phone, email and uploading some documents but your bank details and your phone number can give the instructions the necessary information. In some Banks and exchanges once you write your BVN or NIN all other details would pop up and you only click continue or next. Only the phone number can be use as KYC because if someone dial the number in true caller itself, your real details will appear.

Let's go back to the topic at hand. If Nigerian government regulate gambling and tax them, it is the players will pay for it because the company will deduct the fee from the winnings.

[Wiwo]

Governments do not raise or impose taxes on an industry from a good life. So there is a budget shortfall in Nigeria. It is not known what percentage of tax payments will be used for the intended purpose, because the level of corruption in Nigeria is quite high, but sooner or later any government comes to the need to regulate one or another area and gambling is no exception. Whether the government will protect the interests of both gambling platforms and gamblers is a big question.

The current federal government lead by President Ahmed Bola Tinubu is tax oriented and at that alot of tax increase and tax introduction have taken place in the economy, and if a sensitive industry like cryptocurrency could be targeted for tax, then gambling industry which is another growing aspect of the economy will definitely get taxed.

I also believe that majority of the popular casinos around Nigeria are well taxed, so for sure the government coming out at this point to push for more gambling taxation is mostly expected at this point, but just as you said, the high rate of corruption won't make the tax to work effectively for what it is meant for.

[tvplus006]

At this very point, it’s so obvious that Nigeria government has nothing to offer to the people, rather they chose to keep oppressing them and looking for way to extract money from the little the make to survive. ..

If a casino is officially registered in Nigeria, then it is obliged, as well as other businesses, to pay tax in accordance with the laws of that country. So in this case, the introduction of a tax cannot be considered as harassment of business. It is a normal practice to pay taxes in any civilized society.

[Hispo]

^

The history of many countries clearly shows that if the government of the country prohibits any activity, then after a while this activity simply goes into a gray zone and is controlled by organized crime. This does not only apply to gambling. The same thing happened during the prohibition of alcohol in the countries where prohibition was introduced. Therefore, total prohibition does not solve these problems.

In my opinion, regulation and taxation works much better, of course, if most of the money goes to the budget and not to the pockets of corrupt officials.

Taxation and regulation needs to be fair as well, so it would not feel as some kind of economical harassment against gamblers, specially those who have had good luck and pocket some money. There are countries in which people are not taxed for money won by gambling and those administrations rather to tax casinos, as the businesses they are. Since Nigeria is an empoverished nation where gaming has become endemic and widespread, the national government is supposed to impose a minimum income tax on gamblers who win money and focus on the bookies and agencies, as well as other formal businesses,.so each one of them pay a fair share.

I have read there are people who are already surviving only because their good luck in gambling in that country, that is very sad and the only thing someone in such situation needs is more taxes.

[fortunecrypto]

will imposing a tax on it not push this people closer to depression as some may find it difficult to gamble comfortably. I also find it strange that the World Bank is supporting this with a financial support package of value close to $2.25million.
Since the taxation may not affect the crypto gambling community in Nigeria, this will encourage more gamblers to gamble now on crypto platforms right?

Taxes is a way for the government to sustain the growth of their economy and keep it running, all government must do taxes because they need it, now if your government is not corrupt then all these taxes will go for the services of the people and improving their lives, and the gambling industry since its generating huge revenues are always looked into for taxes.
It depends on the gambler if he wants to gamble in a traditional way or go online to gamble on cryptocurrency-based casinos, its his preference where he is comfortable the most.

[Roseline492]

You are right because I have not seen were someone win a gambling and they ask him to pay a tax or deduct it from there wining, so actually I don't think that the taxation method works that way, however if Nigeria government wants to implement the tax on the gambling there is nothing bad about it but they should exclude gamblers because they are only patronising the gambling platform so if there should be someone that deserves to pay the tax it will be the company, secondly I'm still thinking about how they would cover up both online gambling platform and the offline because the number of gambling shops we have in this country is too much, so I think the government should only focus on the online gambling.

Were you not inform about how the government was trying to remove security levy from each transaction aside from the vat tax that is already been deducted.

The government sometimes announce this things first to know if the people are going to react and since there is hardship everywhere and the feedbac they got weren't palatable, they had to stop it for now but I'm very sure the government will bring this again in the future just to make money from the people, very inconsiderate government that want to kill their own people.

You are obviously right about that because that has been the method of the government, they would try to establish something by just merely saying it to see if the people will respond negatively or not, though for now they are scared of announcing or bringing any new update that will have an effect on the people because right now they have already known that the people are not happy with them so they are very careful. However about the security livy i was fully aware about the development and it was good that everybody was able to react to it if not it would have been implemented and start functioning and we all no how things work here that so long as is benefiting the government they careless about how others are copping about it.

[Solosanz]

Taxes is a way for the government to sustain the growth of their economy and keep it running, all government must do taxes because they need it, now if your government is not corrupt then all these taxes will go for the services of the people and improving their lives, and the gambling industry since its generating huge revenues are always looked into for taxes.
It depends on the gambler if he wants to gamble in a traditional way or go online to gamble on cryptocurrency-based casinos, its his preference where he is comfortable the most.

Unfortunately Nigeria, as one of third world countries are full of corruption. With the current technology that already advanced, many people can now work from home, making them able to make more money than before. It's impossible if there are many countries not become developed countries, since the government collect more tax than before and it should be enough to upgrade and improve the infrastructure.

[Outhue]

The important thing is that in the US, such taxes are being used to make useful contributions to society. The taxes can be called very high, but then the people will receive other better services in return, while in countries like Nigeria, and even in many other countries, this tax money is not intended to fill the treasury to serve the people, it fills the pockets of some corrupt classes. Besides, the governments of these countries are relatively strict and do not create much space for casino owners, it feels like they do not prioritize the gambling industry as a service that should develop when the national financial system does not depend on this industry.

That's where the problem lay and it has even been a thing if concern to citizens too that if such tax is being passed, the government will not still do anything good to improve the state of some sport or gambling activities in the country but rather the money will just go for their selfish interest.

There are many signs that show that Nigeria will never be a better place, and this is one of them, some countries rely heavily on taxes from casinos, I heard that casinos both online and offline generate incomes more than many big businesses in the world today, this is why the U.S will never block the income stream from gambling for the sake of anybody, if you get addicted or lose your life, many citizens will keep benefiting from gambling, either by winning by themselves or their government feeding back the public using the tax money from casinos.

And like youve said, Nigeria government will never use the money for anything good, they will prefer to share the money among themselves, the problem with Nigeria is the Nigerians, even if they are rotating every citizens in Nigeria one after the other they will do the same, I am not bad mouthing this country, sadly it is just what it is.

Nigeria should be one of the biggest holder of Bitcoin as we speak, because of their excess in oil and mineral, they feed other country a stable electricity, meaning they can power Bitcoin mining and make a better country in a matter of 10 to 20 years time, but it seems this is a curse on the country, because everyone seem the same in Nigeria.