Topic: Are You Tax Efficient With Your Gambling Habbits? - page 2. (Read 1873 times)

Thus, we ourselves are the ones who decide how to establish a better world with or without taxes on crypto, it is something that we must consider, I in particular have been surprised that many of the forum users have agreed that have to pay to be able to operate with crypto, the truth is that I don't see any sense, it's as if the fun was being privatized, therefore we must be very emphatic about what we want to achieve, it is very easy to say that we want make a difference, but if everything that a government imposes and everyone says yes, it is something that I do not agree with, any government could manage the resources of the country as they want, because that is what they were elected for, and if they steal or something Similarly, the fault of those who elected them, there is no doubt about that.

As a user of many casinos, I always have the option of doing better things, less thinking about giving taxes to a government that in reality, according to my country, does not deserve it, because they are correct in every sense, so if that is the case, how does it make you want to pay something like that? for them? no, it's not worth it.

I could say that things can be seen from the point of view that is more optional and beneficial for everyone, depending on the country we are in, we must pay because I am located in countries like Switzerland, and the Nordic countries where the validity of life is too high, this can lead many to think that things can be seen differently, because the country is focused on doing different activities that completely benefit the inhabitants of the country. For that reason, we can think that it can be different, perhaps for They do, so in this Order of Ideas we could Comply with a Country like That , but if it is a Country that is in the Range of mine , Believe me it does not cause Anything with them , because they are too Corrupt and have no where to scar more  money , money that is not intended for the country but for themselves , the Rulers.

if you take into account only the laws of a country and not morals, ethics and other ideas than crypto still taxed in some places and not taxed in others
the debate starts to get interesting when we realize that there aren't that many ways to enforce the tax
we're probably moving to a world where there's enough technology for citizens to pay for taxes only if they want to

of course each person will always have to face the consequences of their decisions.

I understand that there are European countries like Spain that have to establish or declare almost everything, the thing is that they do not charge the fee for the air that is breathed because it is closed or they have found a way, however Spain is a country that can evade taxes if you go to another country and play, for example a neighboring country, like Portugal, if you are going to play in Portugal the policies are different, they should not charge you tax, because you are outside of Spain, it is an option, now If the person is told that they have to pay taxes because they play in a crypto casino, I think it is not appropriate, because if we assume that crypto is for us to establish an agrable time to have fun, why should we pay taxes to a government? I don't know, sometimes the laws are a little strange, because if I want to play from outside Spain I don't have to pay, the regulations in the countries are very different, they can change from one moment to the next and they can make a difference if you take into consideration the sperosnas decision, what happens if they don't pay?

If I register from Spain under a pseudonymous coaulquer, but they deposit the money into my bank from another country, how will the country realize that I am person X? If I can say that someone entered my account with my internet and played, then how can they determine what they should pay? Those are the things that I don't understand sometimes, because every user in their country has a way of evading taxes, and I say evade because I am a supporter that when you use crypto and in a casino you should not pay anything to any government, let alone pro sar crypto or bitoin, because they do not give any type of benefit and that is what we can exercise when we are in a country like this, for those reasons it is that we must be very emphatic with the rights, we cannot allow ourselves to be trampled on or pay for a government that imposes only its rules where it uses and takes away, but that is my personal opinion.

if you live in a place that has high taxes for gambling earnings you're probably better setting up an offshore company in a tax free zone for gambling

or using your gambling losses to offset taxes depending on the country
c'mon let's be fair, are there gamblers winning longterm?

That's true because there will be a winning tax that must be paid, either to the casino or even some that must be paid to the government, depending on the regulations of each country. We can only follow the rules that have been regulated by law, and if they don't want to pay taxes for gambling, they can start to stop gambling instead of having to pay gambling taxes. Not many people who keep records of their gambling activities will do it because they think that this is gambling that does not need to be recorded. Moreover, if they experience loss, they will be disappointed when they see the numbers.

I suppose it depends on the country where you live, as there are some countries in which you will receive the full amount and the casino will leave it up to you to pay your taxes, however there are in fact some places in which your taxes will be paid automatically on your name by the casino and you will receive less money than what you won that way, without a doubt the most practical is the latter, but if you know a good accountant maybe it will have been a better option to pay those taxes on your own as they could find a way to reduce the taxes you will have to pay on that money.

As far as I know, Once you win in any gambling, you won't get the whole value prize because there's a limit amount that is subject to tax. so better to Make sure you keep good records of your gambling activities; losses as well as gains. I as well doesn't want to pay taxes for my gambling activities but it is stated in the law.

We pay extra tax on everything we use but paying tax on gambling seems a little surprising to me. I'm already tired of paying extra tax on everything and then again if we have to pay tax on such a risky site like gambling it will be a very bad thing for us. Gambling is already very risky, money can be lost when gambling. Paying taxes from a platform where there is no guarantee of money is really ridiculous. Even if I pay taxes for everything else, at least I'll never pay for gambling. I will turn off gambling if necessary but I am not willing to pay taxes for gambling. Every gambler, not just me, will say that and they certainly don't pay the government taxes for their gambling.

In times of gambling, paying taxes depends on the country you domiciled because i know fully well that not all the countries that normally charge there gamblers so however were I come from gamblers doesn't pay taxes but however the only people whom are liable to pay taxes is the betting company so there taxes cover up for the people gambling on there platform.

Perhaps gamblers shouldn't suppose to be paying taxes because there chances of winning bet is not certain so what if after paying the taxes and end up losing the game who will balance him, however preferably taxes should only be done by the betting companies instead of the gamblers.

That assumption might not be accurate. If the gambling site cooperates, the government could indeed find out how much we're holding, especially if they are regulated by our government. However, if they don't cooperate, there's no way the government can know. But when you cash out to fiat, you might face questions about the source of your funds since local exchanges are regulated by them.

So, it's a good idea to be prepared for that. You really need to be savvy to avoid taxes on gambling. Just because the government isn't currently keeping a close eye on things doesn't mean we're in the clear when it comes to tax obligations. That's not how it works.

We don't know who will honestly state how much income they earn in one year but maybe people will. However, it is true that the majority of gamblers will hide their income from gambling and may only show their losses for one year in order to get a break from tax payments. Maybe they won't even pay any taxes because they lost at that time even though they hid their winnings

In the case of crypto, we can save the winning money in the form of bitcoin or altcoin or even stablecoin and store it in a separate wallet from other wallets. Yes, as crypto gamblers, we have many ways to keep our winnings and only pay taxes as necessary.

Yes, you are right. Choose the right leader who can lead the country so that it can run according to plan and can develop the economy so that it can be better. The leader may be right, but the officials below him also have to pay attention because it is these officials who often play around with their tax figures and hide their income from the public. These are the ones who must be monitored first and if they do carry out illegal activities, they really must be punished severely to have a deterrent effect on other officials.

They must be imprisoned for a long period and have their property confiscated by the state. The government must be truly fair to everyone and impose harsher punishments on state officials who abuse their power for their personal interests.

Regardless of how they'll manage it, we are still obliged to pay taxes as that is the lifeblood of a country. The crucial thing here is choosing the right leader. If we don't want a corrupt one to run our nation, we should choose wisely. In our country, vote-buying is very rampant, and that's the root cause of corruption. Hopefully, it's not happening in other countries.


Yes, they could do that, but it's too risky because if they get caught, they might face jail time. It's a decision to make on how far they're willing to take the risk.

By the way, we are talking about the honest persons who will declare all the winnings income from the gambling site and willing to pay the taxes.
However majority of the gamblers will hide the gambling income as the the government cannot check the money stored on the gambling sites. Some gambler may keep the money at the year end on the gambling site and once the tax paying period is over they may cash our and bring the gambling income to their accounts.

In case of crypto, they may not convert to fiat and keep them in their bitcoin/altcoins wallets or in the form of USDT where again the government has no access to verify anything.

Taxation is only possible at the institutional level especially in the case of casino gambling. A casino owner has a certain minimum income but a gambler has no guarantee that he will make profit. In that case how will the government collect the tax from him which I think is impossible. But maybe if a person wins a big prize like a jackpot than government can collect the tax from that particular person. The government must only tax the casino business or else it will be almost impossible to collect the tax. If the government still wants to impose the tax, it will pose a threat to the casino gambling platform.

I don't think losing gamblers should pay taxes because they have already lost at gambling and lost their money so they don't have to pay taxes. And I also agree with you that people are taxed at the end of every year on the income/money they have. A gambler who loses much money before his annual tax calculation may not be taxed because he can show his gambling history and savings account. But I don't know, maybe the tax calculation for gamblers is different from one country to another.

Maybe it was a way for him not to pay taxes on the winnings he earned from gambling. But he may still be subject to income tax from other places because he might still have other places to make money. The government will know where the money he gets comes from and if he loses on a gambling site but his savings account grows a lot, so there is income coming into his account and maybe that is what the government will tax. The scenario may be like that, but we don't know what route each government will take.

I just do not understand how you think that the gambling who are losing will have to pay tax or not ?
Usually the people are taxed after every year on the income / money which they have at the end of the year. Now if a gambler have a lot of money, and he wins even more in gambling but if he loses all of this money before the year end, at the time of calculation of the tax, he would have no assets / money and therefore he will not fall under the tax net.

Even if you say that tax is on the income earned every month and calculated at the year end, this only applies to the balance that is left on the gambling site. If anyone earn a 1000$ in a month in gambling, but did not withdraw and keep on playing until he loses that 1000$, then he is not obliged to pay the taxes on this amount to the government.

But unfortunately, there are still many people from corrupt governments who use tax money for their own interests. Taxes are actually for the development and progress of the country but in practice, they are used by corrupt officials who have created problems in the country. Yes, we can't complain because the government controls its taxes, and even though we can protest against the government, it won't have much effect if the corrupt officials are not caught and punished.

Gamblers will not stop gambling and even though tax laws are against it, gamblers can still gamble in secret. Moreover, the internet is now very advanced, which makes it easier for gamblers to gamble online. They can gamble as usual without any problems, especially as many of them are familiar with crypto, which can hide their identity.

It's our government, so it's our country, and therefore the tax that will be collected will be used for the improvement of the country if the government is not corrupt. Taxes nowadays come from different activities, and since gambling isn't a necessity, we can't complain if the government imposes an unjust taxation, in our view. We have no choice but to follow it, or we'll face the consequences.


The only problem it would cause is that they won't be able to collect, as gamblers would eventually stop gambling since the taxation law is discouraging.

Taxation in the case of centralized establishments is normal only in the case of gambling establishments and not taxes from other establishments. In any state people will pay tax on their income and in that sense the state will carry out its expenditure and provide various services to the people. It is supposed to be the general rule that the more services a state provides to the people the more taxes the people will pay. There is no problem here in the case that the centralized gambling organizations have fixed the taxes of the government.

It will only make gamblers hide their gambling activities from the government so they don't have to pay taxes. For example, the tax will be imposed on gamblers who win as is done on lottery winners. Maybe that is a normal thing but not for gamblers who lose in gambling. They have already lost their money and won't want to be asked to pay taxes. Maybe they will continue to use crypto casinos that can hide the transactions they make to their gambling accounts.

But the government could impose taxes on everyone, including gamblers, because the government wants to get additional income from what is in their country. But it would not be wise to apply it to everyone, even losing gamblers. The government should think about what needs to be taxed so that it won't cause problems later.