Topic: Are You Tax Efficient With Your Gambling Habbits? - page 6. (Read 2046 times)

If you pay taxes - you always disappointed with it. You worked had to get profit and they get your money. But the same time you get lots of opportunities due to these taxes. They pay salaries to civil servants from this money, build hospitals, road. From these taxes we get a opportunity to work and get profit. So nobody like taxes, but everybody pays.

It's really hard to ban those gambling operators that are currently paying their taxes well and you can see that there are lots of them remaining though they were allowed only in the time of the pandemic. especially in another 3rd world country where taxes are important, that's why as of now when you try to browse Facebook by watching reels you often see their ads and they are allowed to operate because the government has already approved it. I think it is because they cannot afford to lose the money they were receiving from those operators and they even allowed it until now.

I never considered this but I think this is very valid argument. When people go establish companies to tax heavens its seen as accurate investment. I think if rich gambler does something sort of similar moving to different country it also makes sense. I feel like USA has very bad laws considering they directly tax income. I think tax should be far more lowered on income but maybe only on operations. Even government-regulated gambling options are heavily taxed... I just don't under his heavy tax fetish of countries.

Yes, if the government can use tax money well, of course, it can benefit the community because they can see real actions from the government regarding the use of tax money. The government will also build better public facilities so that people can use them optimally and get the benefits.

Some countries impose taxes on lottery winners and the amounts also vary. The tax money from lottery winners will go into the state treasury, which will be used for economic development and other sources of income. So the imposition of gambling tax will depend on the policies of each government in each country.

Sorry, mate, you've got me confused. How can the Philippines be included in this? I believe the Philippines has its own taxation laws, and they don't cooperate with other nations in terms of implementation. Payments typically go directly to the tax authorities, which we call the BIR (Bureau of Internal Revenue). Also, I haven't heard of any laws where gambling site operators are considered tax witholding agents, so I'm totally lost by your comment.

Legalized gambling in the U.S. usually pays tax on gambling winnings, although their rules on gambling vary slightly. If your winnings are reported on a form, federal tax is withheld at a flat rate. If you don't give your tax ID number to the payer, the withholding rate is set accordingly. There is no interference of legal bodies in enforcing taxes. And the transaction of gambling money is done through e-money and hundi. These money are going to the gambling site controllers located in different countries of the world including Russia, Philippines. On the other hand various agents are getting commission.

You're fortunate to live in a country where there aren't any gambling taxes imposed on gamblers, or specific laws regarding it. This grants gamblers complete freedom in choosing when and where they want to gamble. I must admit, your situation is tempting enough to consider relocating—just kidding, of course!

However, it's important to note that as long as gambling isn't banned in your country, the government may eventually recognize the potential tax revenue from gamblers. So, don't be surprised if one day new laws are created and strictly enforced.

I don't pay gambling tax in my country. In fact it is totally I bet the average gambler in my country doesn't even know what a gambling tax it. We gamble, we win,  the money is all ours. We are happy. We gamble, we lose, we bear the brunt.
And you know, just as we don't pay any gambling tax, out gambling laws and regulations are not defined. There'e no organization in charge of regulating and keeping in check the excesses of these gambling operators. Also because of this gamblers don't have who to run too when they are cheated by these operators..I want there to be gambling tax in my country so that gamblers can be able to speak up and be able to hold these gambling operators responsible for their actions.

Yes what Fivestar4everMVP mentioned is the most effective way to deduct tax from gamblers winning since in most cases the tax remittances are left for the gambler instead of the government going through the casino to get accurate taxation on winning but this will make room for a lot of developments and suspension of a lot of rules because in doing that it means that the casino and the government will have to work out a systematic model that give accurate figure in total tax at all time.

Of course, who would let go of a billion dollars yearly income from the casinos.

We can find the data on the list   National tax revenue from commercial casinos in the United States in 2022, by state

And here's an interesting fact ;


They collect a significant amount of taxes, but gambling is not making the lives of the majority of gamblers difficult. For the majority, gambling is just treated as a form of entertainment. This is unlike in poor countries where some treat it as a source of income even when they can't.

The United States is a country with all kinds of laws and regulations related to gambling. Currently, the gambling industry is one of the biggest contributors to the country's revenue. Gambling companies pay tax to the government and the funds remitted by those companies are invested in various projects in the country.

In such a situation, if any harm occurs to these industries, they will lose huge revenue as well as their development activities may be affected. Moreover, in the United States, Every individual have freedom. If someone enjoys entertainment by spending his money on gambling, the government of the country will not interfere. Moreover, the law is respected in their country. If someone violates the prescribed law, he will surely be punished. Because they legislate holistically, gambling in their country will not be banned.

Regardless of how taxes are implemented or where they are taken from, what's important is that they are utilized well according to their intended purpose. In our country, we don't have the kind of law that requires gamblers to pay taxes. Instead, the government generates its tax income from operators, most of whom are foreigners. Additionally, we are not allowed to gamble in casinos run by these operators; it's mostly for the purpose to attract tourist only.

Lottery is also considered gambling in our country, but it's the government that operates it, so they don't need to impose taxes, as their collection is enough to help the country generate funds. Also, lottery winners are not required to pay taxes as it's tax-free.

Countries that can make money from gambling taxes will not prohibit gambling because it is profitable for the country and can be a source of income for the country. And if the tax money can be used appropriately and distributed to the people to build the necessary facilities, of course, that will make the people happy.

And it's great if gambling winnings are not taxed in your country so you can receive them in full. You can also use it for other things. Sooner or later, the government will take tax money from gambling and even if they don't tax money on gambling winners, the government will take that tax money away from its casinos as a business.

You're totally right, I mean. Poker games and bans have been a roller coaster. But rules are often created out of fear. If done improperly, gambling can harm your health and finances. Poker and betting are fun for some. Healthy gambling is knowing your limitations and not letting them control you.

The US's "ban, then allow, they ban again"? Definitely a show. Revenue isnt everything. Also for safety. As with Fulltilt, they intervened when things got complicated. Lets not forget that player safety comes first, even as they make money.

That can be done if there's a proper procedure for it. It's not part of the income tax of a casino; it's called withholding tax, with the casino acting as the withholding agent that deducts automatically from the winnings of the gamblers. I think that way, gamblers would be forced to pay taxes, making everything simple and benefiting the government in both ways.

A gambler would then just need to keep a copy of the tax form as proof that the correct tax has been withheld. At the end of the day, if a gambler inquires, it's still their name on the list of the tax agency, not the casino, as they have different tax responsibilities.

I tried it last month and it still works. But it is possible that it don`t work in other countries. So i can recommend to try once first time and wait a bit. It the tax service has no questions about it, it means that it is possible. And of course it is breaking the law anyway. If i have to pay fine - it can be more than i have to pay taxes.

Well, sincerely., this is a very intelligent way of collecting tax from gamblers without them even knowing it, so instead of gamblers having to pay taxes to government after they have withdrawn the money to their bank account from casino, the casino itself withdraw the tax from the gamblers win even before crediting the gamblers account, and then later on, remit the deducted tax to the government...

Brilliant idea indeed, but not one without flaws anyway, because it's also possible that the casino can be deducting this taxes from gamblers winnings not remit it.

No. I think our country is part of the #1 on your list.
They don't tax online gambling yet. But, I did hear my neighbor telling me about how taxes are managed in the nearest cockpit here in our area. The "should be" multiplied by 2 wins will become 1.60 when you receive the payment. So I guess they are taking the tax automatically to the gamblers and the tax that is coming from the cockpit itself is different. So, there are so many profits that are being taken by the venue and I think that's the reason why the improvement of our place is faster because they are taking all the funds from there.
But, I can already hear a lot of gamblers in that cockpit that are complaining about it although I doubt they will a case and I also doubt they will stop gambling just because of that.

They prohibit it, and they have done it not once, several times, in fact, In several cities in the United States they are partially prohibited, anyway, you also have to understand that betting may be prohibited locally, (home games), such as betting on "recreational" games. So, homemade ones that become frequent, those are prohibited anywhere in the world,

But as I said, they prohibit you from meeting at home and placing bets, but not for approved commercial premises, that is, the so-called clandestine games are very difficult to control, but they do it.

Well, online poker was banned in the United States for a couple of years. Whoever plays poker knows that the Americans were the largest providers of traffic in the first decade of this century and it was they who really pushed online poker to big numbers.

Amazing traffic on Poker during those years and were a fundamental part of making pokerstar the largest online betting site on the planet, and it was 100% poker.

But they closed them, not only PS any online poker betting site was banned and, closed for a few years, it was only a couple of years ago that online poker has become "organized" again under strict laws, which regulate it, although issue is quite complex since the closure not only involved regulation but also the case of Fulltilt.

By the way, that golden era at the end of the first decade and beginning of the second in this century will hardly be repeated.

Finally, you can see that they're doing it, quote: "America cannot ban gambling, as they generate significant tax revenue from a billion-dollar industry".

I agree with you, because mainly things when it comes to how to train horses, you can simply stick to the rules of those who do that type of sport, but what you say is real, now things can be seen from In other ways, people do not like horses so now they are much more focused on protecting animals and the trend is then these types of things that we as people should also see, this like cockfighting are things that They have ceased to exist, which is why organizations now try to protect these types of animals and of course animals in extinction much more so, for this reason you always have to put things in context.

Animals at the world level are very protected, I don't really understand why the mistreatment towards horses is, but to be in a competition I imagined that the training was like training an athlete with his diet, with his different vitamins, but I never imagined that for That the horses that performed had to be so mistreated were things that I really didn't know, when I found out I am obviously one of those who support not animal abuse because things shouldn't be like that either, the animals need to take care of themselves, but in the case of bettors must understand that things cannot be that way either.

There is a big problem with the cockfight, but that is much stronger because things there last Until one of the two animals dies , so it seems to me that it is a practice of betting that is too high, I don't agree, the truth is never I have been to a cockfight, and in horse races I know that they still put them on and bet, but the truth is I don't know in which countries they do them, and if it is legal in those countries, but I am curious, because it is difficult , there are many to bet and well things tend to be quite Difficult Because the possibilities are many.