Those your government also tax wins from your bet.

[Orpichukwu]

That's how the government works: if you make money, the government has the right to collect it through taxes, but if you don't generate any income, the government has no right to help you. Whether it's gambling or not, the concept of tax collection is not much different than if you found a gold, gas, or oil mine in your yard it belongs to the government, but if if you found marijuana plants in your yard, it belongs to you.

That's a very shady way to describe the tax system, but as funny as it might appear, that's exactly how the government operates. Except for a very few minor cases, if not all raw material in a private property can be converted to theirs, but when you are suffering any loss, they don't really care; what matters to them is how to collect from you.

[Dunamisx]

That's a very shady way to describe the tax system, but as funny as it might appear, that's exactly how the government operates.

Tax is not against the law neither was it an act to inflict on human efforts in making profits, we are paying tax to also receive something back from the government in return as they remain committed to the development of the society we all live in, but its also a pity that they failed to understand the limit to where this should be demanded, i don't expect in the aspect of gambling to be honest.

[Wakate]

That's a very shady way to describe the tax system, but as funny as it might appear, that's exactly how the government operates.

Tax is not against the law neither was it an act to inflict on human efforts in making profits, we are paying tax to also receive something back from the government in return as they remain committed to the development of the society we all live in, but its also a pity that they failed to understand the limit to where this should be demanded, i don't expect in the aspect of gambling to be honest.

You need to explain to us what you are really getting from your country which you think you are benefiting for them.
A lot of people are jobless and I don't know why this is happening instead of the government to provide the basic amenities essential for live, they are busy doing amother thing. People need good job and inflow of money, money that supposed to circular, one person choose to take the money and do whatsoever they like with it which is absolutely wrong.

[Orpichukwu]

That's a very shady way to describe the tax system, but as funny as it might appear, that's exactly how the government operates.

Tax is not against the law neither was it an act to inflict on human efforts in making profits, we are paying tax to also receive something back from the government in return as they remain committed to the development of the society we all live in,

I never said tax is against the law; in a working society where things are done right, tax is important, especially when there are not many internal means of generating revenue from natural resources.

What tax is supposed to be for is quite the opposite of what some governments are using it for, I believe. You are a Nigerian; later, take your time to read through the new tax reform bill, especially section 104.

[shinratensei_]

That's how the government works: if you make money, the government has the right to collect it through taxes, but if you don't generate any income, the government has no right to help you. Whether it's gambling or not, the concept of tax collection is not much different than if you found a gold, gas, or oil mine in your yard it belongs to the government, but if if you found marijuana plants in your yard, it belongs to you.

The concept of tax in gambling winning is just following tax for the income. Your example seems hyperbole the concept of tax. It's basically as simple as when you're working at a company, then your salary gets taxed. In gambling, if you win, the only your net winning will be taxed. The less you win, less tax. The more win, the bigger tax.

[AmoreJaz]

That's how the government works: if you make money, the government has the right to collect it through taxes, but if you don't generate any income, the government has no right to help you. Whether it's gambling or not, the concept of tax collection is not much different than if you found a gold, gas, or oil mine in your yard it belongs to the government, but if if you found marijuana plants in your yard, it belongs to you.

The concept of tax in gambling winning is just following tax for the income. Your example seems hyperbole the concept of tax. It's basically as simple as when you're working at a company, then your salary gets taxed. In gambling, if you win, the only your net winning will be taxed. The less you win, less tax. The more win, the bigger tax.

I believe that's the norm already in gambling. Most countries are putting tax before you can even hold your winnings. Just like lottery winnings, winners can only get the money after tax. Unless, it was stated before hand that it is nontaxable. This is the reason why the government can actually get good money out of gambling. Because gambling industry is a lucrative one and the government can benefit from it. Look at the areas where casinos and other gambling establishments are popular, like Macau and Vegas. You can see that their economy is actually good or should I say, they have active economy as these businesses are also getting taxed and they are giving those to the jurisdiction where they are located at.

[o48o]

The government is only making things worse by trying to enforce tax on our gambling winnings. What will happen to those that have been losing money to gambling and finally made profit and the government will now have to tax my gambling winnings without knowing that I have been making loses from betting for few days or weeks.

That doesn't really make sense imho. That money could be used to take care of the gambling addicts. When something is known to cause addiction on some people, job of government isn't to make it easy for addicts to get their fix and more changes to ruin their finances.

You think that government is making things worse by taxing booze, cigarettes and other things people get hooked on? Because addicts of those are suffering already. With cheaper substances they could party more and maybe have more cash left for other things. That's same kind of reasoning, so it should make sense if you believe in it.

[Byebyebtc]

The real problem wasn’t the concept itself, it was the poor regulation. If things were handled properly, a lot of the crimes linked to it could’ve been avoided.

When a country is corrupt, things like this can easily happen. Once there’s new leadership, new demands or priorities come in, and suddenly cases that were never touched before start to surface, especially if people don’t cooperate. Taxes are one of the biggest sources of corruption for leaders. If they can’t maximize that, then there’s less money to abuse. You know what I mean,...

As for taxes on betting, that part isn’t even clear yet. There’s no specific bill for it so far. The law is very general, pay taxes on income. But winnings aren’t really income if you look at the bigger picture, because once you tally everything, most of us are actually at a loss.

Yes Taxes are meant to be used in the development of society, but in a corrupt country it is used by politicians for their personal benefits,
Like in my country lately taxes has been increased to 20% of income, but personally I do not see the impact that these taxes are doing, but one thing I suspect is that the reason for this increase might be to pay up dept that my country is owing.

So anytime a country suddenly decides to either increase taxes or bring out new sources of taxes there is something going on and most times it is curruption

[junder]

During my time gambling, I've certainly had wins, whether small or large. But I've never encountered a situation where I had to pay taxes on my winnings. Perhaps this isn't the case because gambling is illegal in my country.

I suspect this might happen in countries where gambling is permitted as a regular activity, and those who gamble professionally or are wealthy might pay taxes on their winnings.

[LastKiss]

During my time gambling, I've certainly had wins, whether small or large. But I've never encountered a situation where I had to pay taxes on my winnings. Perhaps this isn't the case because gambling is illegal in my country.

I suspect this might happen in countries where gambling is permitted as a regular activity, and those who gamble professionally or are wealthy might pay taxes on their winnings.

Since gambling is not allowed in your country, it makes sense that you are not required to pay taxes on gambling activities, as the government does not support them. However, this situation has both advantages and disadvantages. Because gambling is unsupported and unregulated, if you become addicted or face serious problems due to gambling, you will not receive help or protection from the government. That’s why it’s important to think carefully before gambling when things go wrong, you are on your own and no one will support you.

[Raflesia]

The government is only making things worse by trying to enforce tax on our gambling winnings. What will happen to those that have been losing money to gambling and finally made profit and the government will now have to tax my gambling winnings without knowing that I have been making loses from betting for few days or weeks.

That doesn't really make sense imho. That money could be used to take care of the gambling addicts. When something is known to cause addiction on some people, job of government isn't to make it easy for addicts to get their fix and more changes to ruin their finances.

You think that government is making things worse by taxing booze, cigarettes and other things people get hooked on? Because addicts of those are suffering already. With cheaper substances they could party more and maybe have more cash left for other things. That's same kind of reasoning, so it should make sense if you believe in it.

This is certainly true if the government provides rehabilitation centers for addicts, but I suspect that even countries that legalize gambling don't all provide rehabilitation centers to treat addicts. The government's job is to improve the well-being of its citizens, and it's a good thing if the government provides rehabilitation centers with the clear goal of treating and even curing addicts.

Not all governments make things worse, but in some countries, like in my country, there are governments that do make things worse. I don't mean to be prejudiced, but it's common for people to change when faced with money. Perhaps the governments that make things worse are those who were initially good, but change when faced with money, leading to selfishness, which makes things worse.

[rat03gopoh]

I suspect this might happen in countries where gambling is permitted as a regular activity, and those who gamble professionally or are wealthy might pay taxes on their winnings.

This depends on your country's laws regarding taxes on crypto-specific gambling winnings. Generally, if you withdraw your crypto winnings, they will be treated as capital gains tax (CGT), which must be reported separately each time you cash out your investment or within a specific period.

[junder]

Since gambling is not allowed in your country, it makes sense that you are not required to pay taxes on gambling activities, as the government does not support them. However, this situation has both advantages and disadvantages. Because gambling is unsupported and unregulated, if you become addicted or face serious problems due to gambling, you will not receive help or protection from the government. That’s why it’s important to think carefully before gambling when things go wrong, you are on your own and no one will support you.

I also thought about it, I don't have to pay taxes on my winnings because gambling is not permitted in my country. What about you? Do you live in a country that allows gambling? And have you ever paid taxes on your winnings?

Does that mean that in countries that allow gambling, the government will provide assistance to people experiencing gambling addiction? If so, I think that's a good thing, because I believe such a government is acting responsibly in its role.

[xenomorfo]

Since gambling is not allowed in your country, it makes sense that you are not required to pay taxes on gambling activities, as the government does not support them. However, this situation has both advantages and disadvantages. Because gambling is unsupported and unregulated, if you become addicted or face serious problems due to gambling, you will not receive help or protection from the government. That?s why it?s important to think carefully before gambling when things go wrong, you are on your own and no one will support you.

sure, if possible avoid paying taxes even if you can
What do states spend their taxes on? Corruption, favoring the rich, weapons... nothing for the good and poor people.
just for their convenience and the lobbies that are convenient for them, why give them this money?

[STT]

The most sensible system is to tax the company in some profits for their access to a nation.  The 2nd most sensible is a system that taxes the initial bet as it will be a smaller amount.
 The worst system is where you punish lucky winner and take their winnings possibly half the amount won because the taxes now treat you as if you were always rich and immediately take everything even though they never treat the real rich elite people like this.