Oshosondy
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Gamble responsibly
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January 04, 2025, 09:34:12 AM |
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Also, is there a way to avoid these taxes without getting into trouble?
Just like crypto tax, if you want to avoid paying taxes on gambling winnings without getting into any trouble, one of the ways that comes to mind is similar to that of crypto, just move to another country where gamblers don't pay any tax on their winnings. All because of gambling? That is not necessary at all. Do you know that most gamblers are losing money? If a gambler is having losses while gambling, the gambler will have no tax to pay unless he earn back all the losses and then making money from gambling. Also someone may not know he will win just like in lottery and some people that unexpectedly won thousands or million of dollars while gambling.
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mammusu
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January 04, 2025, 09:34:54 AM |
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It's typically about our declaration if it can be added to income then it's subjected and classified as income tax. But if you don't want to declare that, and you're wanting to evade tax for your winnings then you might face bigger trouble when the taxation bureau finds it out. So, you volunteer and go ahead asking that to the staff in the taxation bureau or whatever it's called in your country. But I know, many gamblers don't mind doing that because eventually they've got more losses than winnings.
The application of taxes I think only applies in countries that legalize gambling, while in countries that prohibit gambling, of course the taxes do not apply, sometimes the application of taxes that are too high actually makes those who win will avoid the application and they do it in various ways, but I agree with what you said if transparency in reporting income, Including winnings from gambling, it is very important to help us in avoiding legal problems that may occur by the tax bureau, but in addition to having to fulfill our obligations in taxes, the tax bureau should also be able to provide us with guarantees and rights as taxpayers that need to be protected in the event of a problem.
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Kelward
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January 04, 2025, 09:37:28 AM |
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I guess that amount will be vary and depend on how much our winning. That tax should adapt with the gambler situation so gamblers will not feels too difficult to pay the tax for their winning. If you only wins $10 but you should pay a high tax, that can make you in trouble because you will not have a chance to enjoy your winning because most of your win money will be taken for tax. I am not sure if there is a way to avoid that taxes because you will get more trouble if you do that. Your government can know if you win and not pay the taxes but maybe if you don't send the win money to your bank account, you can avoid it but I am not sure about that.
The tax is deducted in percentage. I do not think most countries tax should be very huge. It can not be more than 10 to 20%. So if someone won $10, the person can earn $8 or $9. In short the amount is determined in percentage. But what I think is that most governments will not consider those that win small amount of money like someone that won just $10. I do not think they can because of $1 or $2 tax evasion send someone to prison. They will not even notice such a person. Gambling taxes will depend on every government's gambling regulation laws and this is deducted from the casinos. Taxes that is taken from a gamblers wins depends on the percentage that the government has pegged for gambling profits. They might not tax very small wins because it'll be very insignificant amounts but for substantial and huge wins they'll want to reap off their own percentage. If the percentage of government taxes are not much, the winning gambler won't feel the impact of their deduction.
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blockman
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January 04, 2025, 09:44:16 AM |
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You know in our country mate, it's hard to check on the actual gamblers if they're paying taxes with their winnings. At most times, they're just ignoring it and letting it go and do whatever they can with their money. No political reasons but it's hard to get on this taxation if it's come from gambling because there's still a taboo in it.
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Lida93
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January 04, 2025, 09:44:33 AM |
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Just curious since there are countries where gambling winnings are taxable... Those who have experience paying taxes on gambling winnings, how much do you typically pay? Also, is there a way to avoid these taxes without getting into trouble? If you don’t mind, please share your insights and mention the country you’re in if possible.
Basically I live in a country where gambling wins are really not taxed or in other words, not all gambling wins are taxed, there is a limited amount to which these wins are taxed and that's when it runs to a certain amount in millions (in the local currency). And about invasion, you literally can't invade these tax due to the way the system is operated in such a manner that before your win amount would land into your account, the percentage charged as tax must have been deducted. I think this is done with an acknowledgement from the authority that there might be those gamblers who will want to subvert and invade the tax, because in reality nobody loves having his money cut.
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Cityhunter34
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January 04, 2025, 09:59:15 AM Last edit: January 04, 2025, 10:36:16 AM by Cityhunter34 |
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In My country, there's no tax on gambling winnings. Everyone is free to gamble as they please, without tax implications, regardless of the amount won. Gambling is essentially tax-free. While some winners voluntarily share their winnings with fellow gamblers through giveaways, this is entirely optional. In my experience with this gambling community, I have never seen anyone pay taxes on their winnings.
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Ultegra134
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January 04, 2025, 10:02:46 AM |
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It was not paid directly but was automatically taken from the winnings. I experienced it at a nearby casino here in our place and it is explained why the winning amount is cut by some percent. After that, I didn't gamble again on that casino although they are the legal ones because they are taking taxes from you. Still, I don't like the idea that it can be seen plainly because the winning amount will be different from what you will receive until how it goes with online casinos where you won't even feel it. I play in a legal local online casino so I don't think they are escaping tax, it's just that there no explanation behind it.
That's how the regulated by the government casinos work. Not the casino's fault, but you get my point. I also don't like the idea; it's 15% here, and it's deductible on any withdrawal from €100. I've used such casinos in the past for a few numbered times but didn't have any significant winnings, thus didn't pay any taxes. Now, there's no such thing as cryptocurrency casinos. I haven't paid any taxes on any of my earnings; they aren't regulated, and unless you're moving significant amounts of money towards your bank account, you should be safe.
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Fivestar4everMVP
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January 04, 2025, 10:07:26 AM |
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Just curious since there are countries where gambling winnings are taxable... Those who have experience paying taxes on gambling winnings, how much do you typically pay? Also, is there a way to avoid these taxes without getting into trouble? If you don’t mind, please share your insights and mention the country you’re in if possible.
Well, I am not very sure about this, but there are some countries where gamblers pay tax on their winning without them even knowing it. How this is done is, when the gambler wins some money and requested withdrawal of the money from the casino to the bank account, they casino will remove the tax alongside with the processing fee, this tax will be remitted to the government of that country in the casino name, not the gamblers. So in other words, we can say that it's the casino responsible for paying tax for their users, so, paying tax for every win from gambling is no longer the responsibility of the gambler, but the responsibility of the casino. Like I said before, I am not very sure about this but a friend of mine mentioned one country where such is their law, unfortunately, I currently can not remember the name of the country.
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batang_bitcoin
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January 04, 2025, 10:07:50 AM |
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It's typically about our declaration if it can be added to income then it's subjected and classified as income tax. But if you don't want to declare that, and you're wanting to evade tax for your winnings then you might face bigger trouble when the taxation bureau finds it out. So, you volunteer and go ahead asking that to the staff in the taxation bureau or whatever it's called in your country. But I know, many gamblers don't mind doing that because eventually they've got more losses than winnings.
The application of taxes I think only applies in countries that legalize gambling, while in countries that prohibit gambling, of course the taxes do not apply, sometimes the application of taxes that are too high actually makes those who win will avoid the application and they do it in various ways, but I agree with what you said if transparency in reporting income, Including winnings from gambling, it is very important to help us in avoiding legal problems that may occur by the tax bureau, but in addition to having to fulfill our obligations in taxes, the tax bureau should also be able to provide us with guarantees and rights as taxpayers that need to be protected in the event of a problem. Yeah, those countries that prohibited gambling obviously it's not applicable and OP or someone that are from those countries are just putting themselves into jeopardy because they'll be put into trouble by their question. But it seems OP is on a country where it's allowed and that's why he's genuinely asking it. I think he needs someone to ask this from a local tax expert or accountant or even a bookkeeper for him to get some help and consultation through those experts.
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ajanwalker
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January 04, 2025, 10:10:10 AM |
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Just curious since there are countries where gambling winnings are taxable... Those who have experience paying taxes on gambling winnings, how much do you typically pay? Also, is there a way to avoid these taxes without getting into trouble? If you don’t mind, please share your insights and mention the country you’re in if possible.
Doesn't it make sense to collect the tax from the gambling company? Let's say I won today, I may lose tomorrow. What will happen then? In some countries, it is said that cryptocurrency will be taxed, but not everyone who invests in cryptocurrency wins? Who will pay when there is a loss? I think if there is a tax on such issues, collecting taxes from the gambling company or the stock exchanges is more rational and logical.
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kotajikikox
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January 04, 2025, 10:11:30 AM |
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Also, is there a way to avoid these taxes without getting into trouble? If you don’t mind, please share your insights and mention the country you’re in if possible.
Usually even before the winnings get to you, the gambling house already has taken some money off of it. But in my country, gambling winnings are actually considered income tax. So, we do have to file it under that. In my opinion, if you were just playing in a low small gambling house and only won a small amount then you could probably get away with not paying any taxes for it but if you have won something big then it would be a lot more difficult to hide that.
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Don Pedro Dinero
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January 04, 2025, 10:13:15 AM |
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Those who have experience paying taxes on gambling winnings, how much do you typically pay? Also, is there a way to avoid these taxes without getting into trouble?
When I was living in Spain I paid taxes on gambling winnings which are added to your earned income on your tax return. So it's a bummer if you earn a lot of money from your job because I paid 37% on gambling winnings (the total income on average was lower, 20 or 25%, but once you pass a band you pay that percentage, which in my case was 37%). From online fiat casinos you can't escape paying taxes because everything is recorded and the information is passed on to the government. Not at land-based casinos. If you're going to avoid those taxes you're getting into potential trouble, whether you want to or not. The most common thing people do is to gamble in crypto casinos and not declare it. You are obliged to declare but it is easy not to get caught, and to avoid getting caught in big trouble, the normal thing to do would be not to bet very large amounts.
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salad daging
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January 04, 2025, 10:18:25 AM |
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I never pay taxes, from gambling winnings because my country prohibits gambling if caught then it can be supported, so we do it secretly.
Then what if the winnings from crypto the government will find it difficult to detect your winnings right? Maybe if you win a large amount in fiat then obviously the government will tax you and it depends on the government.
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Zlantann
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January 04, 2025, 10:20:09 AM |
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Just curious since there are countries where gambling winnings are taxable... Those who have experience paying taxes on gambling winnings, how much do you typically pay? The government mandates gambling companies to collect tax on their behalf. Hence registered casinos or sports betting platforms deduct some percentage of tax from every win and remit it to the government. But unregistered gambling operators are not under such obligations. The tax is 5% for residents and 15% for non-residents. Also, is there a way to avoid these taxes without getting into trouble? If you don’t mind, please share your insights and mention the country you’re in if possible.
There are agitations among gambling operators that unlicensed and foreign operators will get more customers than local operators. So using crypto gambling platforms or patronizing foreign or unregistered platforms will help in avoiding tax. Cryptocurrencies are not closely regulated in my country, so you can easily bypass taxes.
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shield132
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January 04, 2025, 10:32:58 AM |
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Just curious since there are countries where gambling winnings are taxable... Those who have experience paying taxes on gambling winnings, how much do you typically pay? Also, is there a way to avoid these taxes without getting into trouble? If you don’t mind, please share your insights and mention the country you’re in if possible.
Whether you have to pay taxes or not depends on what you play, where you play and how much you win. In my region, if you are playing games like slots, blackjack, poker or sportsbook, you don't pay taxes separately, they are deducted when you try to withdraw. Years ago, there was only 1% withdrawal tax which was paid by the casino but now, the government increased taxes from 1% to 4% and when the customer tries to withdraw money, that 4% is automatically deducted from his balance. If you win a jackpot in a casino, then you pay a big tax. If casinos put their profit into jackpot, then casinos don't pay taxes and it's on you but this process is automatic as far as I know, you are only eligible to withdraw what's left after taxes.
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Kemarit
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January 04, 2025, 10:38:57 AM |
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Just curious since there are countries where gambling winnings are taxable... Those who have experience paying taxes on gambling winnings, how much do you typically pay? Also, is there a way to avoid these taxes without getting into trouble? If you don’t mind, please share your insights and mention the country you’re in if possible.
I thought casinos are going to pay the taxes directly? And the question is how we gamblers going to pay if we play online casinos? It's not like that we have to declare everything to the government so that we can pay them taxes. We don't want to avoid taxes as we might get into trouble, but there are not clear cut rules on how specially if we play online games. For winning in traditional casinos, I think there are no taxes for gamblers and again, it will be the casino's responsibility and not us. We can understand if it is local lottery that you won, as it is being run by government so before you get your winnings taxes are already deducted.
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Gozie51
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January 04, 2025, 10:43:56 AM |
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Also, is there a way to avoid these taxes without getting into trouble?
I think there that fiat gambling platform is not easy to avoid paying tax because if a government is taxing on such gains, they would already regulated it and get the identity of players there on the platform and so it won't be easy not to identify a winner. Moreover, the government would get the data directly from the platform without going for the player. It will be deducted from source. But with cryptocurrency casinos online, this may be bypassed, like those players who use VPN making their IP untraceable.
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pawanjain
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January 04, 2025, 11:19:45 AM |
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Just curious since there are countries where gambling winnings are taxable... Those who have experience paying taxes on gambling winnings, how much do you typically pay? Also, is there a way to avoid these taxes without getting into trouble? If you don’t mind, please share your insights and mention the country you’re in if possible.
Sorry but I couldn't resist from creating this meme. To be honest, paying taxes on gambling is only for those who actually manage to stay in profits at the end of the year. I believe, for most people including me, we don't have to worry about paying taxes on gambling because we never make it to that bracket.  
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robelneo
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January 04, 2025, 11:24:30 AM |
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Just curious since there are countries where gambling winnings are taxable... If they regulate it, they will tax you, and on our side here, you get deducted 20% depending on the prize. Our government implements a system where they operate some of the gambling platforms, like lottery and casinos, so they get the profit, and they also tax your winnings. They are hitting two birds with one stone. Also, is there a way to avoid these taxes without getting into trouble? If your country has guidelines, you should comply lest the government flag and penalize you. The governments are good at going after tax evaders, so don't think of not paying your dues.
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Russlenat
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January 04, 2025, 12:04:46 PM |
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If they regulate it, they will tax you, and on our side here, you get deducted 20% depending on the prize. Our government implements a system where they operate some of the gambling platforms, like lottery and casinos, so they get the profit, and they also tax your winnings.
In the Philippines, I believe lottery winnings weren’t taxable before, but when the TRAIN law was introduced, they started taxing 20% of the winnings. Just imagine hitting $1 million - they’d take $200k off the top. Easy money for them, right? Makes you think twice about those “lucky” wins! They are hitting two birds with one stone. yeah, they are too greedy.. they are already making big collections daily and still they want to have a cut of the winning. If your country has guidelines, you should comply lest the government flag and penalize you. The governments are good at going after tax evaders, so don't think of not paying your dues. I once won $2k on a regulated sportsbook, and I didn’t pay any taxes on it. I haven’t heard anything from the government either, so maybe they’re not strictly enforcing it yet. It seems like they’re still a bit lax when it comes to taxing gambling winnings.
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