Does implementing a tax on a gambling platform really help a country?

Mistafreeze

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Quote from: Obito on June 15, 2021, 02:09:47 AM

Tax is the blood of the economy, they make the public roads, the public schools, the public and government hospitals. Pros of taxing a gambling platform is that the government is able to get a really big tax since gambling houses earn a lot of money and close to zero losses in a day sometimes. Cons is that if the government is comprised of corrupt officials then the taxes will be for nothing.

The altimate reasons for tax collection by government is to generate revenue to help fund budgets and pay salaries for workers. Taxing gambling platforms is very important to a country growth just like other companies which are taxed for revenue.
Gambling platforms do generate high profits considering the rate at which people are thirsty for money this days doing different things to make money. Gambling is a spirit which is very enticing and addictive making people do engage more in it with the mindset of making more money even though one keeps losing.

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Quote from: Vaculin on July 02, 2021, 09:09:58 AM

Quote from: Peanutswar on July 02, 2021, 07:39:39 AM

Having a tax may give benefits to their country because they are paying their contribution because they are earning a large amount of money not all the time you are just earning and we have a different set of rules in our country regarding the tax if you are a large time earner its there's a designated amount of tax will be given to you. But of course, you cannot get your money when your dead so its good to be fair to the country to give a small amount of your total earning if you want to lessen the tax I think its a different conversation or story.

The point here is "implementing a tax on a gambling platform", which means on the business, not the people or the gamblers as that's very abnormal. Of course, it will help the government as tax can be used for government projects, but they should not only be concern about the tax, they also need to ensure to put a law that would protect both the gamblers and the gambling operators, but mostly the people so they'll be responsible in gambling.

Implementing taxes on a gambling platform can affect us regular gamblers too. To compensate the decline in profits caused by taxation a gambling platform can increase the house edge, especially if they won't survive otherwise. I personally don't mind because moderate taxation is normally a good thing, as have been stated many times in this thread, and also the house edge increase, say, from 5% to 6% doesn't actually affect much our gambling experience.

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Quote from: 7788bitcoin on July 03, 2021, 07:25:40 PM

I was not worried about tax whenever i bet but this is crazy to tax on winnings and no incentives for loosing Cheesy

. Government is looting in the name of tax for a long time and sometimes i feel like the politicians are getting everything for free and they do not pay the taxes and we are the ones that are squeezed for all the hard work we do.

There's no need to worry on our side if we're going to bet because it's the shoulder of the casino where we are betting. But if such adjustment will be made by the government to increase the taxation for the casinos. I still can't think how they're going to adjust with that increase, maybe the withdrawal fees will be also adjusted and a few portion of it every time it's done will go to them.

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Quote from: KTChampions on July 02, 2021, 06:07:17 AM

It is especially funny that there are places where the tax on winnings is calculated on each bet made. For example, a person made 100 bets and won in half of the cases and lost in half, in fact he won nothing, but the government believes that he must pay tax for each of the won bets. This is absurd and there is nothing surprising in the fact that any adequate person avoids such "care" from the state Grin

I was not worried about tax whenever i bet but this is crazy to tax on winnings and no incentives for loosing Cheesy

. Government is looting in the name of tax for a long time and sometimes i feel like the politicians are getting everything for free and they do not pay the taxes and we are the ones that are squeezed for all the hard work we do.

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Quote from: Vaculin on July 02, 2021, 09:09:58 AM

Quote from: Peanutswar on July 02, 2021, 07:39:39 AM

Having a tax may give benefits to their country because they are paying their contribution because they are earning a large amount of money not all the time you are just earning and we have a different set of rules in our country regarding the tax if you are a large time earner its there's a designated amount of tax will be given to you. But of course, you cannot get your money when your dead so its good to be fair to the country to give a small amount of your total earning if you want to lessen the tax I think its a different conversation or story.

The point here is "implementing a tax on a gambling platform", which means on the business, not the people or the gamblers as that's very abnormal. Of course, it will help the government as tax can be used for government projects, but they should not only be concern about the tax, they also need to ensure to put a law that would protect both the gamblers and the gambling operators, but mostly the people so they'll be responsible in gambling.

As a gambler, that's what I only want, to enjoy gambling without thinking of taxes because it will give us 100% entertainment. The logic is, most gamblers lose money, so why pay taxes if we win when we are not getting any when we lose, and besides, most gamblers just play for fun, so they'll not track their winnings and losses.

Vaculin

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Quote from: Peanutswar on July 02, 2021, 07:39:39 AM

Having a tax may give benefits to their country because they are paying their contribution because they are earning a large amount of money not all the time you are just earning and we have a different set of rules in our country regarding the tax if you are a large time earner its there's a designated amount of tax will be given to you. But of course, you cannot get your money when your dead so its good to be fair to the country to give a small amount of your total earning if you want to lessen the tax I think its a different conversation or story.

The point here is "implementing a tax on a gambling platform", which means on the business, not the people or the gamblers as that's very abnormal. Of course, it will help the government as tax can be used for government projects, but they should not only be concern about the tax, they also need to ensure to put a law that would protect both the gamblers and the gambling operators, but mostly the people so they'll be responsible in gambling.

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Having a tax may give benefits to their country because they are paying their contribution because they are earning a large amount of money not all the time you are just earning and we have a different set of rules in our country regarding the tax if you are a large time earner its there's a designated amount of tax will be given to you. But of course, you cannot get your money when your dead so its good to be fair to the country to give a small amount of your total earning if you want to lessen the tax I think its a different conversation or story.

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Quote from: uneng on July 01, 2021, 07:30:02 PM

Quote from: KTChampions on July 01, 2021, 06:47:41 PM

I think everyone agrees that casinos are a business and therefore, like any business, they must pay taxes. Disputes begin when we talk about the tax on winnings. In my opinion, it should be zero or something very small. In the end, it is impossible to have a regular income from gambling, why not regard this as a gift of fate)

Yes, it's already hard enough to hit a nice prize in gambling and finally when someone win the jackpot the government is ready to take a big piece of the cake. Interesting that when we lose, the government doesn't share the loss with us, but when we win we must share our winnings with the government.
This kind of situation gives some notion about how things really work and how the government is not worried about anyone else besides themselves collecting maximum money as possible from people. Then someone might say these taxes will be returned to people in public services. And I would say this money is only going to public employees pockets, because the country has a lot of them to maintain.

100% true!
It is especially funny that there are places where the tax on winnings is calculated on each bet made. For example, a person made 100 bets and won in half of the cases and lost in half, in fact he won nothing, but the government believes that he must pay tax for each of the won bets. This is absurd and there is nothing surprising in the fact that any adequate person avoids such "care" from the state Grin

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Quote from: zanezane on July 02, 2021, 03:31:04 AM

Quote from: Erdogan on July 01, 2021, 05:33:50 PM

In my opinion, the gambling tax for casinos should be the same as the regular tax from salary. So in the case of how the casino earned, it accounts for it and pays the tax. If casion has lost, pay nothing, just like every citizen.
High taxes for casinos are bad for players because casinos have to increase the chance of their own winning, which makes it for players less likely to win. Consequently, it is the players who lose the most.

No I don't think it's good that it will be based on salary, remember that gambling houses are a really good money makers and they are a business establishment so I don't think that making it equal with workers wages is kind of disrespectful to the workers who get taxed. It should be much higher too because as you have said, players are the one who lose the most and not the house.

Don't post as if You understand what you are quoting , he is referring to the percentage depend on how much the casino sites are gaining.

but not necessarily mean they will put the same as what the workers get.

Example the government will put at least 10% of the total profit then if they earn million then they will pay Hundred thousand . but if they lose then they pay nothing .

and how come this become a disrespect to the worker comparing to their wages? they are being paid so as the tax must.

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Quote from: Erdogan on July 01, 2021, 05:33:50 PM

In my opinion, the gambling tax for casinos should be the same as the regular tax from salary. So in the case of how the casino earned, it accounts for it and pays the tax. If casion has lost, pay nothing, just like every citizen.
High taxes for casinos are bad for players because casinos have to increase the chance of their own winning, which makes it for players less likely to win. Consequently, it is the players who lose the most.

No I don't think it's good that it will be based on salary, remember that gambling houses are a really good money makers and they are a business establishment so I don't think that making it equal with workers wages is kind of disrespectful to the workers who get taxed. It should be much higher too because as you have said, players are the one who lose the most and not the house.

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Quote from: KTChampions on July 01, 2021, 06:47:41 PM

Quote from: Kelvinid on July 01, 2021, 06:07:09 PM

I don't think it should be treated that way, casinos for sure do not belong to taxes on salary, so you are saying those who are tax-like salary are those who are making a profit in casinos? Casinos operate as a business, they have their income and expenses, and as long as they are in profit after a certain period, they should also pay the corresponding tax. It's a complicated matter especially if we are not well versed with taxation, but in simple terms, we can understand that business does always pays taxes, different forms of taxes actually but the most common is the income tax.

I think everyone agrees that casinos are a business and therefore, like any business, they must pay taxes. Disputes begin when we talk about the tax on winnings. In my opinion, it should be zero or something very small. In the end, it is impossible to have a regular income from gambling, why not regard this as a gift of fate)

Yes, it's already hard enough to hit a nice prize in gambling and finally when someone win the jackpot the government is ready to take a big piece of the cake. Interesting that when we lose, the government doesn't share the loss with us, but when we win we must share our winnings with the government.
This kind of situation gives some notion about how things really work and how the government is not worried about anyone else besides themselves collecting maximum money as possible from people. Then someone might say these taxes will be returned to people in public services. And I would say this money is only going to public employees pockets, because the country has a lot of them to maintain.

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Quote from: Erdogan on July 01, 2021, 05:33:50 PM

In my opinion, the gambling tax for casinos should be the same as the regular tax from salary. So in the case of how the casino earned, it accounts for it and pays the tax. If casion has lost, pay nothing, just like every citizen.

You don't know how taxation works? Casinos are big business and you want them to pay tax the same as an individual employed person?

Are you fine that casino operators operated by rich businessmen will just pay a few cents of tax to the government while another small business operated by a small group or individuals is complying with the set tax for them?

Even we will replace the word "salary" with "income", casinos' tax should not be the same as other businesses.

Quote from: Erdogan on July 01, 2021, 05:33:50 PM

High taxes for casinos are bad for players because casinos have to increase the chance of their own winning, which makes it for players less likely to win. Consequently, it is the players who lose the most.

Where did you get that idea? Huh

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Quote from: Kelvinid on July 01, 2021, 06:07:09 PM

Quote from: Erdogan on July 01, 2021, 05:33:50 PM

In my opinion, the gambling tax for casinos should be the same as the regular tax from salary.

I don't think it should be treated that way, casinos for sure do not belong to taxes on salary, so you are saying those who are tax-like salary are those who are making a profit in casinos? Casinos operate as a business, they have their income and expenses, and as long as they are in profit after a certain period, they should also pay the corresponding tax. It's a complicated matter especially if we are not well versed with taxation, but in simple terms, we can understand that business does always pays taxes, different forms of taxes actually but the most common is the income tax.

Sorry, I wrote it the wrong way. I meant "income" just like any other person or company - obviosly salary was wrong word here.
Of course, my point was that casinos should be treated just like any other company in terms of taxation. The only difference may be granting special licenses and remaining under the supervision of external institutions.

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Quote from: KTChampions on July 01, 2021, 06:47:41 PM

Quote from: Kelvinid on July 01, 2021, 06:07:09 PM

I don't think it should be treated that way, casinos for sure do not belong to taxes on salary, so you are saying those who are tax-like salary are those who are making a profit in casinos? Casinos operate as a business, they have their income and expenses, and as long as they are in profit after a certain period, they should also pay the corresponding tax. It's a complicated matter especially if we are not well versed with taxation, but in simple terms, we can understand that business does always pays taxes, different forms of taxes actually but the most common is the income tax.

I think everyone agrees that casinos are a business and therefore, like any business, they must pay taxes. Disputes begin when we talk about the tax on winnings. In my opinion, it should be zero or something very small. In the end, it is impossible to have a regular income from gambling, why not regard this as a gift of fate)

Yes, it is pure business where luck has got importance. So taxation on gambling houses and winnings is right. Each and every country depends on the tax money, because it'll be the major earning to the government. In my country when one wins a lottery he/she will be provided almost 60% while the 40% counts on different forms of taxes. So government is benefitting big. As said it is good when the taxation is made on wins above specific amount.

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Quote from: Kelvinid on July 01, 2021, 06:07:09 PM

I don't think it should be treated that way, casinos for sure do not belong to taxes on salary, so you are saying those who are tax-like salary are those who are making a profit in casinos? Casinos operate as a business, they have their income and expenses, and as long as they are in profit after a certain period, they should also pay the corresponding tax. It's a complicated matter especially if we are not well versed with taxation, but in simple terms, we can understand that business does always pays taxes, different forms of taxes actually but the most common is the income tax.

I think everyone agrees that casinos are a business and therefore, like any business, they must pay taxes. Disputes begin when we talk about the tax on winnings. In my opinion, it should be zero or something very small. In the end, it is impossible to have a regular income from gambling, why not regard this as a gift of fate)

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Quote from: Erdogan on July 01, 2021, 05:33:50 PM

In my opinion, the gambling tax for casinos should be the same as the regular tax from salary.

I don't think it should be treated that way, casinos for sure do not belong to taxes on salary, so you are saying those who are tax-like salary are those who are making a profit in casinos? Casinos operate as a business, they have their income and expenses, and as long as they are in profit after a certain period, they should also pay the corresponding tax. It's a complicated matter especially if we are not well versed with taxation, but in simple terms, we can understand that business does always pays taxes, different forms of taxes actually but the most common is the income tax.

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In my opinion, the gambling tax for casinos should be the same as the regular tax from salary. So in the case of how the casino earned, it accounts for it and pays the tax. If casion has lost, pay nothing, just like every citizen.
High taxes for casinos are bad for players because casinos have to increase the chance of their own winning, which makes it for players less likely to win. Consequently, it is the players who lose the most.

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Quote from: qwertyup23 on July 01, 2021, 08:19:27 AM

Quote from: AmoreJaz on July 01, 2021, 08:08:40 AM

Quote from: milewilda on June 29, 2021, 05:43:27 PM

-Why it wouldnt help? Of course on where tax does play a great role when it comes to countries development.
-I do only see Pro's on where development and progress would be there but only if those taxes had been used on the right way and wouldnt be corrupted or stolen.
-Percentage will vary because not all government would be having the same jurisdiction when it comes to this.
-House might really be showing off some increase since they had been asked for more bigger taxes but for sure it wouldnt really be that noticeable at all.

just like any other business, they should also be taxed. maybe the only bit of difference is that the amount collected from gambling businesses is quite large as compared to other businesses. that is because some of them are really raking good money esp if there's too much foot traffic in that area. now, it depends on the government how they want to get money from this type of business. definitely, both camps will agree to whatever percentage the govt wants. otherwise, the gambling site will not thrive and that is also not good from the govt, because they will lose their income from them.

Upon the determination of the government on which platform to tax, it evaluates each business on whether they are profitable or liquid enough that the cashflow is steady enough. Unfortunately, they targeted online gambling platforms since the income that these businesses earn per year is just mind-blowing compared to any other businesses.

As we all know, tax is the lifeblood of the government since it allows them to spend for future projects, etc. But the taxing power must be exercised with discretion because it also has the power to destroy- high taxes can potentially cripple a business.

No government that is concerned with its economy will put lavish taxes on any business, they have to ensure that the business could still operate profitably with taxes, otherwise, the tax is just created to kill the business and the revenue would only be temporary. This business industry is huge, if they don't get fair treatment in terms of taxes, they will operate overseas where taxes are reasonable.

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Quote from: AmoreJaz on July 01, 2021, 08:08:40 AM

Quote from: milewilda on June 29, 2021, 05:43:27 PM

-Why it wouldnt help? Of course on where tax does play a great role when it comes to countries development.
-I do only see Pro's on where development and progress would be there but only if those taxes had been used on the right way and wouldnt be corrupted or stolen.
-Percentage will vary because not all government would be having the same jurisdiction when it comes to this.
-House might really be showing off some increase since they had been asked for more bigger taxes but for sure it wouldnt really be that noticeable at all.

just like any other business, they should also be taxed. maybe the only bit of difference is that the amount collected from gambling businesses is quite large as compared to other businesses. that is because some of them are really raking good money esp if there's too much foot traffic in that area. now, it depends on the government how they want to get money from this type of business. definitely, both camps will agree to whatever percentage the govt wants. otherwise, the gambling site will not thrive and that is also not good from the govt, because they will lose their income from them.

Upon the determination of the government on which platform to tax, it evaluates each business on whether they are profitable or liquid enough that the cashflow is steady enough. Unfortunately, they targeted online gambling platforms since the income that these businesses earn per year is just mind-blowing compared to any other businesses.

As we all know, tax is the lifeblood of the government since it allows them to spend for future projects, etc. But the taxing power must be exercised with discretion because it also has the power to destroy- high taxes can potentially cripple a business.

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Quote from: milewilda on June 29, 2021, 05:43:27 PM

-Why it wouldnt help? Of course on where tax does play a great role when it comes to countries development.
-I do only see Pro's on where development and progress would be there but only if those taxes had been used on the right way and wouldnt be corrupted or stolen.
-Percentage will vary because not all government would be having the same jurisdiction when it comes to this.
-House might really be showing off some increase since they had been asked for more bigger taxes but for sure it wouldnt really be that noticeable at all.

just like any other business, they should also be taxed. maybe the only bit of difference is that the amount collected from gambling businesses is quite large as compared to other businesses. that is because some of them are really raking good money esp if there's too much foot traffic in that area. now, it depends on the government how they want to get money from this type of business. definitely, both camps will agree to whatever percentage the govt wants. otherwise, the gambling site will not thrive and that is also not good from the govt, because they will lose their income from them.

Topic: Does implementing a tax on a gambling platform really help a country? (Read 1321 times)