Do we all know the tax rules on gambling winnings in our country?

[Vaculin]

Are you familiar with taxes on gambling winnings? One reason why the government wants players to use regulated casinos is not only because they can tax the casino operators, but also because they can tax the winnings of players.

But do you think this is really reasonable?

For me, it feels complicated and unfair in some way because most gamblers are already losing in the long run, then once they get lucky and win big one time, the government still wants a share from that win. It is like we are expected to keep records of our wins and make sure the right tax is paid, and if we miss it or fail to comply, we could be at risk of penalties or legal trouble.

I understand that the government needs revenue and regulation is better than illegal gambling, but should the burden really be on the gamblers too? Since casinos and gambling operators are already earning from players, maybe it would be better if the government just increased the taxes on operators instead of taxing player winnings directly.

What do you think, should gambling winnings be taxed, or should this kind of tax be abolished and the government should collect more from casino operators instead?

[IjawMan]

If you look at what the gambling taxes are on gamblers winning it is as though the government is only there with us in our joyful moments but never recognises the grief we hear from losses.

It could have been fair should it be in a way that our losses previously made are calculated out of the one big win first, then whatever ever is left can be counted for tax but unfortunately for the gambler that is not how it works.

Fortunately for me I come from a country where taxes on gambling are from a particular size of a won sum and any sum below does not get taxed. I do not know if this has changed cause in the last year our country government did a reform on tax laws generally.

[Charles-Tim]

What do you think, should gambling winnings be taxed, or should this kind of tax be abolished and the government should collect more from casino operators instead?

The governments are looking for just little opportunities that they can use to tax people which is very wrong. Gamblers supposed not to be taxed, only the gambling sites and gambling platforms supposed to be taxed. Only few countries like Canada and Australia are doing good for not taxing gamblers.

[Cointxz]

What do you think, should gambling winnings be taxed, or should this kind of tax be abolished and the government should collect more from casino operators instead?

Gambling winnings should be taxed given that the gambler net profit is on the positive side with that winnings. If government will consider net profit instead the win value only then I will be happy to my taxes.

The problem is most of this gambling taxes doesn’t care if you’re on loss while your current win is just partial recovering of losses.

Good thing in my country taxes on gambling win is voluntary on regulated casino. Only states run lottery and game shows are being taxed mandatory.

[mirakal]

That is what you call greediness from the government. It could also be a way to discourage people from gambling, but in reality, we are not asking to be encouraged, we just want to be treated fairly.

It is fine for casinos to be taxed because they always win, or at least they win most of the time. But we gamblers are the ones making casinos profitable, so why tax us too?

I do not understand how they think that something that is supposed to be entertaining will still be enjoyable if we keep thinking about tax. What if we win big? How much tax will we pay? That would make us unable to fully enjoy our winnings.

[danherbias07]

This is an issue that I had been curious about years ago.

I mean, they are already getting taxes from the gambling companies, and it sure is big. Why the heck should they take more from the winnings of the gambler? It's a very rare opportunity for gamblers to win, and we don't want more cuts to happen with just a little that we will get.
Here in the cockpit near us, that is what they do. They take money from the cockpit itself, the parking fees, the expensive foods, and then there's the very low odds when you win. It's like x1.60 for the favorite and x1.80 for the underdog, or maybe lower. Just looking at the numbers says it all. That's tax included.

[Dr.Bitcoin_Strange]

Whether you want such tax to be abolished or not, it will not unless the government decides on their own not to tax players again, because they were the ones that decided to tax winning. In my country, I think the tax is 5% and the bookie or casino will automatically dedicate the withholding tax from players win before the person cash out. The debate about whether players win should be tax on or not has been discussed on this board a couple of time, you can search for previous related topics.

[Vaculin]

What do you think, should gambling winnings be taxed, or should this kind of tax be abolished and the government should collect more from casino operators instead?

Gambling winnings should be taxed given that the gambler net profit is on the positive side with that winnings. If government will consider net profit instead the win value only then I will be happy to my taxes.

The problem is most of this gambling taxes doesn’t care if you’re on loss while your current win is just partial recovering of losses.

Good thing in my country taxes on gambling win is voluntary on regulated casino. Only states run lottery and game shows are being taxed mandatory.

First, the burden is the filing of taxes. Some of us do not file taxes, except for those that are already deducted through withholding tax, like some employees, so we have no problem with that.

But with taxes on gambling, we will be the ones responsible for filing it, so that becomes another burden. If we forget or file it wrong, then we might have to pay penalties.

And about net profit, how do we determine that we are really in net profit? What is the basis? I mean, even if we are up today, the next day or next week we might lose again, so it does not feel reasonable.

Eventually, what we win today can just be returned tomorrow.

[Maslate]

I understand that the government should collect tax and ensure revenue and equity, but I don't think its fair for us to taxed our winnings when we have been losing a lot first before we start hitting small wins. They can instead grow the taxes imposed on the big establishments and high-income businesses so that the country will still be making enough revenues, and maintain the funds within charities.

However, since winnings won't be taxed, winners will make huge financial returns, thus making them more invested in gambling and increase their gambling urge to keep gambling. Eventually, cases of gambling addiction will increase as well as money laundering cases, and probably the government has already seen this coming that's why they make sure to imposed taxes on gambling wins.

[Cointxz]

What do you think, should gambling winnings be taxed, or should this kind of tax be abolished and the government should collect more from casino operators instead?

Gambling winnings should be taxed given that the gambler net profit is on the positive side with that winnings. If government will consider net profit instead the win value only then I will be happy to my taxes.

The problem is most of this gambling taxes doesn’t care if you’re on loss while your current win is just partial recovering of losses.

Good thing in my country taxes on gambling win is voluntary on regulated casino. Only states run lottery and game shows are being taxed mandatory.

And about net profit, how do we determine that we are really in net profit? What is the basis? I mean, even if we are up today, the next day or next week we might lose again, so it does not feel reasonable.

Eventually, what we win today can just be returned tomorrow.

You can request to the casino this specific report to determine your PnL on specific time frame. I do this before monthly to determine my overall progress since the casino I’m using before resets total wager every month.

You can compile all your casino reports and tabulate it to determine your net profit. However, this is a hassle procedure just for the sake of paying taxes to the government.

I’m interested to see fellow gambler reside on country like US that has strict taxation on how they file gambling taxes.

[Ruttoshi]

The government has shown that they don't care about our welfare whether we are doing well financially or not. What they're after is to get money from your through taxes regardless if it's in your favor or not.

There should be a balance between your loss and profit and how much the government will tax you if you win big. Imagine, that I have lost $20k in gambling and I won $2k, the government shouldn't tax me until, I have recovered the amount I have lost.

[CryptoHeadlineNews]

Gambling winnings should be taxed given that the gambler net profit is on the positive side with that winnings. If government will consider net profit instead the win value only then I will be happy to my taxes.

The problem is most of this gambling taxes doesn’t care if you’re on loss while your current win is just partial recovering of losses.

Thats where the problem comes from, because either the gambler been on the positive or negative net profit of his gambling activities, it literally doesn't make any sense for government to tax an individual after winning when they never supported him while gambling.. Because it is really unfair to the gamblers. Because the only person they ought to have taxes are the casino operators who owns, operates and generate the most profit from gambling in a long run. Because agreeing with the fact that gamblers should only be tax when they are on their positive side of their gambling net profit, then it still doesn't make any sense, because the government never played any role on how the gambler won the bet, and if he had never taken the risk, there wouldn't have been any positive net profit. Hence, the gambler deserves everything.

[PostQuantumBTC]

Whether you want such tax to be abolished or not, it will not unless the government decides on their own not to tax players again, because they were the ones that decided to tax winning. In my country, I think the tax is 5% and the bookie or casino will automatically dedicate the withholding tax from players win before the person cash out. The debate about whether players win should be tax on or not has been discussed on this board a couple of time, you can search for previous related topics.

5% tax is good, but the tax is higher than that in some countries like the United States, and if you win more, they will tax you more in percentage. Only people that are winning high amount of money that will pay the tax, most gamblers are losing and have negative in term of profit and loss, which means that they are in losses and they have no tax to pay.

[Awaklara]

What do you think, should gambling winnings be taxed, or should this kind of tax be abolished and the government should collect more from casino operators instead?

I think the casino operators should bear the bigger taxes, not the gamblers. Even though every time a withdrawal is made, the casino can collect taxes, I guess that's better than taking taxes from the customers' winnings. Or the government could implement taxes only on winnings above a certain amount. But it still feels unfair for gamblers to be taxed on their winnings. The government is thinking too much about profits in this business.

[FirmWars]

Gambling win is a reward that is being giving to players for taking risk with their own money, this is not an investment, it's not a job where salary is paid from time to time but it's a risk taking event where the reward is not supposed to be taxed by the government but they still do that anyways and someone had said that the reason why players are taxed is because of those luckiest player that win a huge amount. In the case of one foreign guy who won almost a million dollars in another country, he paid tax there and when he returned to his country, he also paid a heavy tax and almost half of the money was gone in paying tax, so someone said is because of such win that attracted government to tax gamblers.

[iv4n]

Do we all know the tax rules on gambling winnings in our country?

Yes, I know the tax rules on gambling winnings in my country... There are taxes only on lottery jackpots, and only if the winning amount is over 850 euros (it's 100k RSD). For slots, sports betting, live games (roulette, blackjack, etc...), there is no tax on winnings. At least for now...

What do you think, should gambling winnings be taxed, or should this kind of tax be abolished and the government should collect more from casino operators instead?

Well, players winnings should not be taxed... we take all the risk, and nobody cares when we lose money playing slots or some other games. But when it comes to casinos, I think there should be some regulation... if they made a ton of money during the year, it would be fair if they return something through taxes that can be beneficial for people who live in that country.

[Zadicar]

What do you think, should gambling winnings be taxed, or should this kind of tax be abolished and the government should collect more from casino operators instead?

As far as im aware only lottery/sweepstakes are being heavily taxed on which the winner of jackpot will definitely be having that taxation and only get the deducted portion on which of course this is something that default in most lotteries in other countries as well. As for winnings on online gambling then im not aware if there are taxation about it because as a user or winner you can directly make out some withdrawal without need any consent and being asked about taxation or something not unless if you are playing on a gambling platform which is ran by the government or regulated then for sure there would be might be some taxation but so far i havent been able to experience or heard about such deduction of these winnings.

[Akbarkoe]

First, the burden is the filing of taxes. Some of us do not file taxes, except for those that are already deducted through withholding tax, like some employees, so we have no problem with that.

But with taxes on gambling, we will be the ones responsible for filing it, so that becomes another burden. If we forget or file it wrong, then we might have to pay penalties.

And about net profit, how do we determine that we are really in net profit? What is the basis? I mean, even if we are up today, the next day or next week we might lose again, so it does not feel reasonable.

Eventually, what we win today can just be returned tomorrow.

Taking care of taxes is also very much a burden because it has to take the time and other things related to the report, actually in some parts of indirect income is cut and still every employee is obliged to report and pay taxes, the very annoying part is when we work or when we benefit from gambling that has spent effort and money to do it all we also have to pay and we also have to report it related to it all.

If there is a mechanism that is much easier and we know where the flow of funds run by the government, and if the gambling tax can be made into a budget for the rehabilitation treatment of addicts, it may make sense to pay taxes from the winnings.

[Questat]

As far as im aware only lottery/sweepstakes are being heavily taxed on which the winner of jackpot will definitely be having that taxation and only get the deducted portion on which of course this is something that default in most lotteries in other countries as well.

I would not complain if I were taxed on my lottery winnings because we are talking about millions there. But in gambling, like playing online casinos, we do not really win that much, yet we are still expected to pay taxes.

For me, that feels like robbery in daylight because taxes become like a punishment. Some gamblers only win big once, and maybe that win only helps them break even because they already lost big before. Then after finally winning, they still have to pay taxes?

Damn, I hope the government will try to review that and simplify things. Make only those who truly earn from gambling pay, and that should be the casinos because it is their business. We do not run a business as gamblers.

[Dunamisx]

I don't think the tax rule of gambling winning is effective in my country, though I won't blame the government because I'm don't even think I am aware of the scenario if this is actually effective or not in my country, but I will always ensure that I gamble without any government intervention on every achievement made through gambling, and one of the ways is to be more careful with the platforms we use and how we release some of our vital and sensitive information online, and we should as well know our government stand on gambling regulations.