Topic: Are You Tax Efficient With Your Gambling Habbits? - page 3. (Read 2046 times)

However, actually imposing taxes on gamblers even if they only win is not a fair tax because even though gamblers get big wins, in reality these wins are not commensurate with the amount they lose while gambling from the beginning until now.
More taxes should be applied to gambling site owners who are business people with definite income from gambling. Moreover, I sure that if such tax is implemented, most gamblers will hide their gambling history and winnings so as not to be asked for tax.

The government should be more tolerant of every gambler because they are just someone who comes to gambling sites to spend money as a form of entertainment and pleasure, not to make certain amount of profit.

I know that some countries impose tax revenues to be allocated to disadvantaged communities, but 50% of gamblers are people from lower middle economic levels so if there is too much emphasis on taxes on gamblers it can also make things difficult for them financially.

Paying taxes is the business owner's responsibility, or the business itself is the one that will do the taxes. But I don't think that requiring a gambler to pay tax whenever they play is a good idea. Supposing gambling or playing in a casino is tax-free, and also withdrawing the earned money is tax-free. If, for instance, taxes are also implemented in both online and physical casinos, then I'm sure a lot of gamblers will protest and won't agree about that. The government's in charge of collecting taxes, and I think they can only require the business, not the gamblers, as they are only the customers.

But if, for instance, it is forced to be implemented, we can't do anything about that; just make sure that they will not add and add the tax over time because we know how the economy works right now; goods are increasing in price because of the tax.

Like most of the time politicians are out of touch with reality, they really believe that just because they wrote a few lines of words in a  document they think that such a thing can force people to follow their wishes, what you describe is precisely why it is so silly to tax gamblers and their winnings as they are not professional accountants that can keep track of so many bets, and this is why attempts to regulate bitcoin and charge a tax on every transaction as we have seen some countries proposing is impossible too, as that would mean you will need to keep track of every single transaction and no one can do that.

As you can see, in the first post it is written that in some countries it is the player who is required to pay taxes and for this he needs to keep records of wins/losses and all turnover. This is complete nonsense because I don’t have a personal accountant who would take care of the thousands of bets that I make, for example, in dice.
And by the way, I don’t have to obey the law, what kind of stupidity is that? In reality, if a person follows the law, he will be the most shameful scoundrel at the animal level. You apparently live in a civilized country and think that the whole world is as good as yours, but in reality, in 90% of countries, the law is just a means to oppress citizens.

Taxation only affect the gambler with less profit from the game or the gambler who never get a chance to win the game in the gambling.If the gambler made the enough win from the gambling sites,it’s enough for the gambler to pay the ten times of the taxes for the gambling sites.When the gambler receive the regular money.He can pay the taxes to their government by the way of the bank.So the bank can easily monitor the winning of the gamblers based on their transaction with the gambling sites.The gambling sites also help the gambler with the immediate deposit of the winning to the game.So they huge money in the wallet of the winner of the gambling to pay taxe

You have a point, which is why there are countries in which your gambling profits are not subject to pay any tax, but there are some silly governments which say that you are supposed to pay some money out of those profits, however this is a very difficult rule to enforce, especially when we talk about physical casinos in which the majority of the bets are made in cash and you can decide to receive your payment in this way as well, making very difficult for the government to know that you earned any money unless it is a big amount.

Typically, it's businesses that are responsible for paying taxes, not the gamblers themselves. However, there are certain laws in place that can appear quite unreasonable. It's rare to encounter a situation where a gambler is required to pay taxes, which may imply that the gambler is consistently winning and potentially impacting the casino's finances. Nevertheless, we are obligated to follow the law, even if it seems unfair. In the end, dealing with the consequences is the only option, as it's not advisable to go against the government.

I never thought about paying taxes on gambling. The main reason is probably that I live in a garbage country and there is no point in paying taxes here at all, but even if I were in a civilized country, I would hardly pay taxes on gambling. The essence of the deal is unclear to me (for me, paying taxes is a deal) - what do I get in return from the state? If I owned a casino, I would have no questions, but why I should pay taxes, given that the casino pays for all government services with its taxes, is not clear to me.

Likewise, I think, it is not good that they have access, that becomes a double-edged weapon, for me when things are done that way they are acting in a very incorrect way, I do not allow that tax information to be entrusted to them. To a third party, a casino would not be my option, it would be my last option, of course that is my way of thinking when there is a situation like this, I think that each person's situation regarding their taxes is something very delicate and very person, it is something that no one should get involved in, because things should not be very different from what we can think about how to deal with things to do and stay up to date, also the fact that it is done through a casino is a additional tax, something that we should see is very common in that it should not be done, I don't know in other countries how taxes are handled, but I think they can be very strict with that.

There are people who, perhaps, as I have said on other occasions, can live in countries that are very prosperous and they don't care about taxes so much, because they can do it without problems, perhaps the quality of life is high and their salaries They are Extremely high, just as happens in the Nordic countries, where everything is very Expensive but their salaries are quite high, but that is like another world, not everyone has that option.

In the country I live in, if you let a casino or a third party pay for it, the Government would take advantage of it so that it knows many things about me, so in this order of ideas I think that this is information that should not be leave it like that, I think that the casinos with the information that is left in a KYC is enough, what I think is that this level of doing things is when they are at the level of making a lot of money, and I imagine that they should leave even the information Prosecutor, I don't know, I'm speculating, because to know so much it's that way.

Yeah, I am one of those margin gamblers and it doesn't give me that much profits at all or whenever I make some profits just as you've said with that percentage, I also gamble it since I can afford to do so and what happens next isn't a secret that all of them are also being lost because I've decided to gamble them all.

This is true that only few will win such amounts and then that's why if you're also part of the margin gamblers based on the definition that you've given then that means that we're not that much in profits and we don't have issues in taxes because we don't have a lot of it compared to the big gamblers that are winning a lot. And on the latter part that you've said, it applies for both margin and big gamblers that we're all taxed based on our winnings of course and not with our personal money.

Most of the gambler was the margin gamblers,the big gambler will be 4-5 percentage in all the gambling sites.So the low gambler winning also low based on their deposit.Only the gambler with more and more money from the gambling win need to pay the taxes.So the tax is not the big issue for the gamblers on the involvement to the gambling sites.From the margin gamblers,few will win the big money.So such people need to pay the taxes for the win.The high winning gambler doesn’t consider the taxes because they only paying the taxes to the government  from the winning money and not their own money.

I don't win a lot with my bets so those taxation that's on certain amounts, I haven't done so. And I think the majority of the gamblers that are just lowkey or not so big gamblers, they don't have the time to do such filings of their tax because all they have is small profits that can be just from two digits to three digits in a month. But if I am like those lottery winners who have been winning like a hundred grand to millions in dollars, of course, and no doubt that I have to file for the tax because it's one of the gains that can be considered to be taxable. But if there is a rule that says that it is tax-free and non taxable then you got to enjoy the entire amount without paying the tax. And for the taxation, it's best to just have this coordination with the casinos but are they classified to be good connections with the government in terms of tax because many seem to be hiding a lot of wealth under the casinos.

Casinos are many ways to Consider that they can be good for having Fun, not for paying taxes with them, much less paying mone. Is it a luxury? In a casino that uses local money, or in a fiat-style casino, yes, but in that case it is difficult to pay an Additional tax , I have never done Something like that, or is it because in my goal Statement that I play sometimes In lso casnios, I don't see it necessary, furthermore they don't give me the option, only in others , where the Others specifications Appear in the Formularies, well that may be where I go , but I haven't seen nobody who has to declare tax for Play in online Casino.

There are many things that really cannot be understood from people, but I also think that some people are like that, because they are from countries where basically their economies are very prosperous and the degree of corruption is almost zero, so I understand that position, I also don't support many things that involve taxes on people for using the cryto casino, which should be paid to governments, that's not it, because this is crypto, neither governments, nor banks, nor anyone who wants to interfere with their treatment should poke their noses in here. To get a cut of what they shouldn't, some people don't have much problem with a casino debiting that, well each person is different, each person decides what to do with their money, but they should give this as an option and not as something mandatory, this is the only thing I think can happen, and personally I would think that things when it comes to how to have a casino to include in this, then very soon they will have access to what we buy and what we don't buy, and Like the casino that enforces KYC, through that they can provide it to the government, because the government will know what they buy and what they don't buy, that is something that will come and privacy will end.

The good thing about Blockchain technology and Bitcoin is that through this those who are working to provide their data well and their way of acting is of their own free will and not because it is something mandatory, governments through KYC force what they want the casinos, the exchanges, and so they can obtain only a part of the information to be able to access these types of information that for me this is a lot and that should never be provided, so things must go in that direction, because at the rate that we are going We are not going to have even the slightest privacy, everyone will already know who is who and with a photo and everything, that is what we are going to get, those who do not want to know who it is or something simple, they have to be deleted from a system that we ourselves are even defending.

We should know this that government don't joke with anything that deals with the way we handle our tax payment, especially the regulated industries under the control of centralized institutions, they will come to us in making demands even when we fail to make payment to them, except if what we do is what tht does not need a physical appearance or registration proof for both gamblers and the gambling organization, for every state, zone or business appearance, there's a stipulated amount assigned under each category for nthe tax payment

Such a thing would make sense if we were talking about one of those lotteries that is owned by your local government, this way whatever taxes you will have to pay could be immediately subtracted from the money they were about to pay you and you will get rid of the worry of having to pay those taxes, but other than that casinos keeping some of your profits in order to pay your taxes at a country that could be at the other side of the world does not make much sense to me.

The government has no integration with tax deduction reports from the gambling system, but casinos may have to attach financial reports for tax payments to the government, bad casinos will take advantage of the benefits of tax deductions and they only pay half of the tax funds to the government because the government does not know the actual amount of taxes paid taxes must be paid from the casino, but some countries are not transparent about the use of tax funds for community needs, so I think some of the tax funds are donated to poor communities or trusted charities distribute donations to the community.

Why many of us rooting for casinos to deduct taxes from gamblers' funds before their withdrawal this makes it better and easier for the tax remittance and if you think that,  casinos won't be sincere in their dealing as regards to the tax remittances to the government then that is another thing entirely to worry about at some point and the government should already have systems in place to checkmate such possible lapses that may come up from time to time and how best to properly collect all the taxes and put them good use for the benefits of the general populations.

Well, I didn't know that there were some casinos that say that, the truth is I think that sometimes the Casnios take it away because they have to Pay the withdrawal fee, which seems normal to me, because of the miners' fee, although some casinos Assume that fee , but Nevertheless I can say that the casinos that do and say that are doing things wrong , I would not take it well because it should not be like that, I believe that each player if they have to pay their tax , what they should do is That's it, the casino shouldn't be put there, Although I wouldn't see anything bad if the casino only paid taxes, it would be something great, if we Look at it from that point of View it Would be ideal but it's not like that, it's the first time that I see that a I can't ask for that information or say that they can do those things, which I think is very Difficult, Personally, if a casino Tells me that , then I would think badly, and I wouldn't have any trust in them.

In this order of ideas, things when it comes to casinos that do Things like this are very bad, personally I would stay away from a case like that, because obviously it is not true, the casino cannot have access to the things that They have to do with people's taxes , or at Least they have a special function, I personally would say that when it comes to doing things better, the casino can make a difference, although that would be a mistake that They should promote themselves, because it would be something very new, and the truth is that it surprises me a lot.

Now if this is a new function then I would think that Things in casinos are generating new ways of doing things better and even with the inclusion of doing new things and improvements for people, I think it is not bad at all, now If things are focusing on the best they can demonstrate in a casino, I would like to know how they would be able to access the systems where they pay with the KYC of the people?

I really think that casinos claiming to keep some of the money you are withdrawing to pay your taxes to be a form of scam, after all do you think casinos will have a legal team on more than one hundred countries and deal with each one of the weird and difficult laws that each jurisdiction may have? It is way easier for a legitimate casino to just give you all your money and then send your local government some information about who you are so they know about your profits.