It does have a positive impact, that's why many countries permitted gambling business over the pandemic in the first place.
The pros are, obviously, more money to rebuild the country and improve the economy. The % should depend on the country itself, IMO. Such things as the taxation system, income taxes, average salary, the general quality of life, etc. should obviously be taken into account. The cons are that high taxes might slow down gambling business development.
I don't think this would have any impact on gamblers assuming that there will be no tax on winnings. But even if there was, I don't think this would change anything, as gamblers are more in for the game and it's the fact of winning and the emotions that matter, rather than taking the whole prize.
Topic: Does implementing a tax on a gambling platform really help a country? - page 10. (Read 1323 times)
June 15, 2021, 05:09:00 PM
June 15, 2021, 04:29:56 PM
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.
^ That is a perfect answer, through tax government have different allocations on it just like eductions, buildings all public staff that working on the government they had paid through tax. But I think the biggest allocation that the fund comes from the tax is the health program and livelihood program which is government expend a big percentage on it. As I say yes, it has a big help and it will contribute to having economic growth and seems like what happens on Covid 19, governments were so down at that time because people need financial support, they had open different gambling casino so that it will generate profit that can be taxable.indeed! tax coming from gambling businesses are very important to the economy of the country or a certain area. they are one of the few businesses that thrive even during this pandemic. and the tax coming from them is significant in recovering their economy. and yes, it is very much possible that with large amount of money that they disbursed to the government, there will be corrupt govt officials that will take advantage of their business.
though it depends on the government what percentage they want to impose on this kind of business, i believe they should have certain basis of why they are charging such percentage of tax. it should be both a win-win situation for both parties, so they can continue their business and the government can take their share. otherwise, if it will be a loss from the gambling side, they will be forced to shutdown their business and that's not good for the government as well.
June 15, 2021, 03:12:31 PM
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.
^ That is a perfect answer, through tax government have different allocations on it just like eductions, buildings all public staff that working on the government they had paid through tax. But I think the biggest allocation that the fund comes from the tax is the health program and livelihood program which is government expend a big percentage on it. As I say yes, it has a big help and it will contribute to having economic growth and seems like what happens on Covid 19, governments were so down at that time because people need financial support, they had open different gambling casino so that it will generate profit that can be taxable. 
June 15, 2021, 02:38:41 PM
Not a bad thing for gamblers. I saw many times that even lottery winners have to pay taxes if their winnings aren't tax-free. But if it's tax-free then that's a better amount for them to get on. And taxation is helpful to a country as long as it's coming from a legitimate business, it shall help and contribute to its economy. Look at those countries or cities that have the main source coming from gambling. That's how taxes are making their cities or countries keep going because of their industry.
June 15, 2021, 02:12:12 PM
It does, especially if there are lots of gambling platforms to get taxes from. It adds up, and will eventually make a good chunk of tax proceeds which will then help the government fund projects for the benefit of the population. Even though the anti-establishment on me still lingers every time the government fucks up, I still believe that the right amount of taxation coupled with intelligent management of funds goes a long way. We've seen socialist countries implement aggressive tax rates and still do pretty well without its population complaining because they are receiving the best care. It only really depends on how the government uses the tax funds for it to be seen as beneficial rather than detrimental.
June 15, 2021, 01:30:30 PM
I see a lot of threads here about some countries imposing a tax on gambling casinos. And each forum member has their own opinion about this type of topic.
Now I'm wondering, does implementing a tax on a gambling platform will really help a country?
- What are the pros and cons of it?
- What should be the proper tax percentage for you that they should impose.
- Will this be a bad thing for gamblers?
Also, are these governments capable of taxing online gambling casinos that we often use like stake, chips, etc...
Does really help a country? Yes, these taxation wont exist for nothing and knowing gambling industry is one of the most biggest contributor.Now I'm wondering, does implementing a tax on a gambling platform will really help a country?
- What are the pros and cons of it?
- What should be the proper tax percentage for you that they should impose.
- Will this be a bad thing for gamblers?
Also, are these governments capable of taxing online gambling casinos that we often use like stake, chips, etc...
Pros and Cons? For Pros then it would really be beneficial for the economy and cons would only be into those business owners but depending
on how much they've been asking.
Proper percentage tax? Depends because not all countries would have the same views and perceptions on things.
Gamblers had nothing to do with this unless if the house itself will impose some sort of additional or increase of base bets or other related thing.
June 15, 2021, 01:22:42 PM
I see a lot of threads here about some countries imposing a tax on gambling casinos. And each forum member has their own opinion about this type of topic.
Now I'm wondering, does implementing a tax on a gambling platform will really help a country?
- What are the pros and cons of it?
- What should be the proper tax percentage for you that they should impose.
- Will this be a bad thing for gamblers?
Also, are these governments capable of taxing online gambling casinos that we often use like stake, chips, etc...
Now I'm wondering, does implementing a tax on a gambling platform will really help a country?
- What are the pros and cons of it?
- What should be the proper tax percentage for you that they should impose.
- Will this be a bad thing for gamblers?
Also, are these governments capable of taxing online gambling casinos that we often use like stake, chips, etc...
The cons from a player's point of view is obvious: if you have to pay taxes, you have less money in your pocket.
From a government's point of view it is a bit more tricky, at least in some countries I know: you have a tax code and that code says that once you are forced to pay income taxes on one class of income, you must also be able to deduct costs and losses. That is what makes it difficult for states to tax gambling winnings. There is no such thing as a one sided tax, meaning that once you win you have to pay but once you lose you are wrecked and can't deduct.
Casinos pay taxes usually in some jurisdiction, although especially in Europe there are good spots for casinos to set up their business such that they must still hardly pay any tax. I can imagine though in particular countries like France, Germany, maybe some others will crack down on that now.
June 15, 2021, 01:07:02 PM
I see a lot of threads here about some countries imposing a tax on gambling casinos. And each forum member has their own opinion about this type of topic.
Now I'm wondering, does implementing a tax on a gambling platform will really help a country?
- What are the pros and cons of it?
- What should be the proper tax percentage for you that they should impose.
- Will this be a bad thing for gamblers?
Also, are these governments capable of taxing online gambling casinos that we often use like stake, chips, etc...
OP, I'm sure you have the answer to what you're currently asking us. I don't see anything for your opinion as the user who started the thread on the question.Now I'm wondering, does implementing a tax on a gambling platform will really help a country?
- What are the pros and cons of it?
- What should be the proper tax percentage for you that they should impose.
- Will this be a bad thing for gamblers?
Also, are these governments capable of taxing online gambling casinos that we often use like stake, chips, etc...
- I think you already have a lot of answers about the advantage of taxes, but very few about the disadvantage. I feel that non-transparent tax management will be a weakness of tax application in any sector in a country. Taxes are a pile of money for corrupt officials in many countries and it is bad for the country itself.
- I think 1-10% is a percentage that gamblers would probably agree with. But it is up to the countries and government themselve how they have to make it friendly for physical site/ casino and players while they have to care enough about the problem addict face.
- Taxes are not always considered bad by gambler if the percentage is not too large and is used on target. But when the percentage reach 20%-40% and its use is not on target, it will be something that is considered bad.
June 15, 2021, 12:53:31 PM
Having taxes on gambling is like having taxes on tobacco because, at the end of day, it is about having a trade-off between the money earnd as taxes and problem created from the addictions. This is really it and the higher the taxes, the bigger the problems really.
Here in Italy the estimate of social costs of gambling obtained in a study amounted to 2.7 billion euros. (Estimated cost per player was €2,211).
It is quite a big number.
Here in Italy the estimate of social costs of gambling obtained in a study amounted to 2.7 billion euros. (Estimated cost per player was €2,211).
It is quite a big number.
June 15, 2021, 12:47:25 PM
Also, are these governments capable of taxing online gambling casinos that we often use like stake, chips, etc...
There are no Governments that collect taxes from these online casinos apart from the country they were registered or licensed. It's levied on the players or gamblers. Authorities will be able to track these income through the KYC verification of custodial services and centralized exchanges. 
June 15, 2021, 12:34:53 PM
I see a lot of threads here about some countries imposing a tax on gambling casinos. And each forum member has their own opinion about this type of topic.
Now I'm wondering, does implementing a tax on a gambling platform will really help a country?
- What are the pros and cons of it?
- What should be the proper tax percentage for you that they should impose.
- Will this be a bad thing for gamblers?
Also, are these governments capable of taxing online gambling casinos that we often use like stake, chips, etc...
Now I'm wondering, does implementing a tax on a gambling platform will really help a country?
- What are the pros and cons of it?
- What should be the proper tax percentage for you that they should impose.
- Will this be a bad thing for gamblers?
Also, are these governments capable of taxing online gambling casinos that we often use like stake, chips, etc...
Well I would like to share two threads started by me few years ago. The numbers may be slightly outdated but the context is same.
Part 1: USA
https://bitcointalksearch.org/topic/how-gambling-can-effect-the-economy-of-a-country-part-1-usa-4308093
Part 2: Macau
https://bitcointalksearch.org/topic/how-gambling-can-effect-the-economy-of-a-country-part-2-macau-4324507
These threads should answer your queries pretty well.
June 15, 2021, 12:23:19 PM
1. There is zero enforceability when it comes to gambling taxes. Most of the gaming platforms that are commonly used are currently unregulated by any responsible board - and most of them aren't even in the jurisdiction of any single country.
Depending on your country of residence, you might be required to actually declare your taxes on gambling earnings. Although, most countries that I know of have zero tax on gambling earnings. However, I think this would depend on whether the place that you gambled at is registered, and actually recognized as a gambling website. Since, most crypto gambling sites appear to not be licensed, this would actually mean your earnings are taxable in most countries.For example, to operate a gambling website in the UK or even offer to UK residents you need to be registered, and accepted by the gambling commission. If you aren't, then I believe your customers would have to declare the earnings to the tax man, and the tax man would then decide whether or not its taxable. I'm not super up to date with the laws when it comes to gambling taxes when a gambling outlet isn't licensed, but I'm pretty sure it would be deemed taxable income since its not recognized as a gambling outlet officially.
June 15, 2021, 11:27:28 AM
As for me, yes, it helps a country survive and sustain all their people's needs especially during this pandemic where some countries support their people financially. However, we can't also deny the fact that it's also one of the sources of corruption which is part of politics. Huge gambling companies allow tax regulations so they would be eligible to run their gambling company continuously.
June 15, 2021, 08:59:39 AM
I see a lot of threads here about some countries imposing a tax on gambling casinos. And each forum member has their own opinion about this type of topic.
Now I'm wondering, does implementing a tax on a gambling platform will really help a country?
- What are the pros and cons of it?
- What should be the proper tax percentage for you that they should impose.
- Will this be a bad thing for gamblers?
Also, are these governments capable of taxing online gambling casinos that we often use like stake, chips, etc...
No it isn't because the operator will only charge that to the gambler as if they will let shouldering that taxes on their own?Now I'm wondering, does implementing a tax on a gambling platform will really help a country?
- What are the pros and cons of it?
- What should be the proper tax percentage for you that they should impose.
- Will this be a bad thing for gamblers?
Also, are these governments capable of taxing online gambling casinos that we often use like stake, chips, etc...
and will be taken from their Bag of money?
so in the end of the day still it is the gambler that suffers and not the gambling operators .
June 15, 2021, 08:47:40 AM
UK doesn't have tax for gambling earning while US can collect upto 30 to 40% as tax which depends but still both countries are developed nations.
Imposing taxes is the only way to generate revenue by the countries but the tax rate should be fair, since most people lose their money in gambling and only few of them are making money on that the government collect half as tax doesn't sounds good.
Imposing taxes is the only way to generate revenue by the countries but the tax rate should be fair, since most people lose their money in gambling and only few of them are making money on that the government collect half as tax doesn't sounds good.
June 15, 2021, 07:31:52 AM
I think whether they like it or not, implementing tax is the only option they had because most of the country that allowed some kinds of gambling has already know if they don't create a legal one, other people will look for some other options and when they find something to bet on, the government are out on the list and they can play without any tax. That's why when they created an office like PCSO which means the Philippines charity sweepstakes office, it meant to gather some money from the allowed gambling in the country to help poor people and other charities.
June 15, 2021, 07:01:29 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.
I wanted to say the same words. Unfortunately in many countries taxes, in their entirety, never go to public schools, roads and hospitals, the money just being stolen by corrupt officials. The good news is that even in those countries at least a part of the funds do go for the purposes intended. And that means better roads, saved lives, free education etc.
So, overall I think imposing taxes on gambling platforms is a good thing, even if for us, gamblers, it might mean a slightly higher house edge, as a consequence.
June 15, 2021, 06:37:27 AM
Tax really important in one country because the country can get more money to develop the country. Suppose the casino can give a big tax to the government. In that case, they can allocate the money to the important sector and build the country better. But I do not know about the percentage amount that the government can apply because that will depend on the casino income. I do not think that the government will use a high tax for one casino because it will make it difficult to pay the tax.
June 15, 2021, 06:30:46 AM
Of course it can, it will provide taxes that properly used can help the public services. Well, that is, if the income is properly used, which it may be the case for only a limited number of countries, so perhaps the answer is it depends:
- How much tax? Will it hinder business?
- How will it be used? Is there a government that will employ it for good?
- Is gambling something that morally should be accepted as a means of financing a country?
- How much tax? Will it hinder business?
- How will it be used? Is there a government that will employ it for good?
- Is gambling something that morally should be accepted as a means of financing a country?
June 15, 2021, 04:05:14 AM
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In general, taxes are one of the most important sources of money for a country...taxes contribute 70% of a country's income and the government needs it to be able to continue to manage the country, I personally agree with the gambling tax because the velocity of money in this gambling business is very large, but what should be taxed on this gambling is gambling businessmen, casino owners who make a profit big, no longer a player.
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