Does implementing a tax on a gambling platform really help a country? - page 8.

YOSHIE

legendary

Activity: 2128

Merit: 1775

Quote from: xSkylarx on June 15, 2021, 01:01:08 AM

Now I'm wondering, does implementing a tax on a gambling platform will really help a country?

Technically yes, certain countries automatically increase from the economy, apart from corporate tax revenues, mining, industry, land, buildings and so on, Gambling companies such as casinos are currently the largest income to cover the country's current economy, you certainly know the expenses that must be issued by the state are a larger percentage of taxes, including humanitarian aid and so on.

Not a few countries that make tax rules against gambling companies, the percentage of gambling tax depends on the country, overall now i see a good effect, except: taxes are imposed for gambling players, but if for casino sites or houses it is fine.
There are many good sides than bad, if the government imposes a tax on gambling companies.

Vaculin

hero member

Activity: 2940

Merit: 613

Winding down.

Any tax that the government will receive is considered as income, hence it will help in the financial aspect.

However, a country cannot just accept gambling operators and give them license without proper control, they should also look at the effect of the people within a country if overall it will not give a positive effect like it will increase the gambling addiction or the crime due to gambling, then there's no reason to be more aggressive in issuing a license, everything should be foreseen so risk could be managed.

The Philippines have POGO, these are gambling operators that are foreigners and cater only foreigners, so this way it will not make people addicted but the people will benefit from taxes through the government.

owengtam09

full member

Activity: 1330

Merit: 248

Implementing a tax on gambling will help a lot of people in every country. But it also depends on the government if they will never be corrupt then this will be a big help especially provide financial needs on Non-governmental organizations and provide financial needs on every aspect of the project that the government wants to establish in building a great country.

goaldigger

sr. member

Activity: 2422

Merit: 357

Quote from: dmamigo on June 16, 2021, 04:40:37 PM

With such a huge craze nowadays with gambling platforms, governments are likely to tax gambling activities. Taxing will surely help them get more revenue. I am just wondering what will happen if they start implementing a tax on the users and the tax rate is quite high than the other taxes we generally pay to the government. That will be ridiculous for sure.

Taxes will be collected thru gambling site and gambler don’t need to report it by himself especially if the player is beyond your jurisdiction. This is why some licensed crypto gambling site computes already the charges on your withdrawal that includes the tax for sure. This can help a country and the only cons to the gambler is that, their profit will be lessen which is not that high in terms of the tax rate.

just_Alice

hero member

Activity: 1274

Merit: 622

Quote from: adzino on June 16, 2021, 02:41:14 PM

Aren't the casinos already taxed? As far as I know, all casinos have to pay a tax. Even crypto casinos, if they touch fiat, they will have to pay tax. And at least over here, if you play on a casino and win, you have to pay tax on your winnings. It's probably considered as an income tax (not sure about this though). I doubt there are any country out there that doesn't tax their casino. To answer your question, yes tax does help a country. Doesn't matter where the tax comes from, but it helps a country to develop and is one of the main sources of revenue for the government.

The thing is, in many countries gambling isn't legalized, so they run underground casinos and, naturally, they aren't taxed.
And about the type of taxation - it largely depends on governmental policies. All of the countries that allow gambling require income taxes in different ranges (10-30%), some countries have additional gambling tax, related to the type of business you are running.

And some (but not all) require winning tax. There are also policies that dictate different taxes depending on the amount of income the casino receives, as well as on the amount of winnings (e.g. if your winnings are lower than a certain established sum, you may be required to pay only fiat tax).

molsewid

hero member

Activity: 2170

Merit: 530

Quote from: adzino on June 16, 2021, 02:41:14 PM

Aren't the casinos already taxed? As far as I know, all casinos have to pay a tax. Even crypto casinos, if they touch fiat, they will have to pay tax. And at least over here, if you play on a casino and win, you have to pay tax on your winnings. It's probably considered as an income tax (not sure about this though). I doubt there are any country out there that doesn't tax their casino. To answer your question, yes tax does help a country. Doesn't matter where the tax comes from, but it helps a country to develop and is one of the main sources of revenue for the government.

As far as I know those gambling establishments especially those which are authorized by the government to legally operate pay a huge tax, well i'm not that sure for how much it's tax but here in our country the tax payed by the gambling establishments is a big help to rolled out our economy. I mean everything we've purchased has a tax even in a food service, food product I guess anything has a tax but it is nothing compared to tax of the gambling establishments. But on the other hand there are also gambling establishments here in our country which is said to be not paying tax properly.

dunfida

legendary

Activity: 3122

Merit: 1140

Quote from: dmamigo on June 16, 2021, 04:40:37 PM

With such a huge craze nowadays with gambling platforms, governments are likely to tax gambling activities. Taxing will surely help them get more revenue. I am just wondering what will happen if they start implementing a tax on the users and the tax rate is quite high than the other taxes we generally pay to the government. That will be ridiculous for sure.

Taxing a user is not right in my opinion since they suffer from a stack of loses over time and that is not beneficial to either of them because if they continue to do that then they should've closed the casino operating gambling instead.

They should put the taxes to the casinos because they get more money to gamblers specially to the potential gamblers. They make money from them and their winning is not that great compared to what they gained from all of the users or gamblers.

This is how the government should do it in order to gain a right amount of taxes they needed specially in this pandemic season. The economy of each country is not that great if infected of the virus continue to rise.

cabron

hero member

Activity: 2800

Merit: 595

https://www.betcoin.ag

Quote from: Johnyz on June 16, 2021, 06:05:15 PM

Quote from: tabas on June 16, 2021, 12:46:38 PM

Quote from: acquafredda on June 16, 2021, 12:18:01 PM

I am not following this anymore, are there any dex casinos?

I think that there's still some in existence but it's hard to know if they really are actual dex casinos because that's what they're trying to say and describe themselves.
But if you look at their operations, you'll say that it's not a decentralized casino.

The risk of playing on DEX gambling is huge, i’d rather pay taxes using my winnings than to deal with any unlicensed gambling site because your money is on risk as always and you might not be able to get it since it’s DEX. I didn’t see any DEX gambling site because most of the gamblers are looking for a licensed site, paying taxes can help a country as long as there’s no corrupt politicians, so don’t worry about paying taxes many people needs it.

Decentralized casinos are more of dapps that wallets will have to connect to their smartcontract to be able to play. This is going to make it hard for governments to actually take tax from them for they'd have to catch up with the technology.

But when it comes to the government mandating casinos for tax is necessary and will help the country's economy. Its everyone's responsibility and they are not excluded from it.

Johnyz

full member

Activity: 2086

Merit: 193

Quote from: tabas on June 16, 2021, 12:46:38 PM

Quote from: acquafredda on June 16, 2021, 12:18:01 PM

I am not following this anymore, are there any dex casinos?

I think that there's still some in existence but it's hard to know if they really are actual dex casinos because that's what they're trying to say and describe themselves.
But if you look at their operations, you'll say that it's not a decentralized casino.

The risk of playing on DEX gambling is huge, i’d rather pay taxes using my winnings than to deal with any unlicensed gambling site because your money is on risk as always and you might not be able to get it since it’s DEX. I didn’t see any DEX gambling site because most of the gamblers are looking for a licensed site, paying taxes can help a country as long as there’s no corrupt politicians, so don’t worry about paying taxes many people needs it.

stomachgrowls

hero member

Activity: 3010

Merit: 794

Quote from: dmamigo on June 16, 2021, 04:40:37 PM

With such a huge craze nowadays with gambling platforms, governments are likely to tax gambling activities. Taxing will surely help them get more revenue. I am just wondering what will happen if they start implementing a tax on the users and the tax rate is quite high than the other taxes we generally pay to the government. That will be ridiculous for sure.

Specially these days where people are playing gambling online and there are statistics that there are indeed influx numbers for those people whom do play in the convenience of their own home.

For government to impose taxes then its not a new thing.They will impose on things which they do seem taxable and we know on how tax works and whats the purpose of it.

This doesnt only applied on gambling industry but in other businesses as well.Dont know what country doesnt implement any taxes on any businesses out there since this had been a casual stuff.

robelneo

legendary

Activity: 3416

Merit: 1225

Taxes are one of the lifelines of any government, it's been implemented since time immemorial and will continue to be a part of any government some governments are implementing harsh taxation, gambling casinos are one government cash cow, for a third world country like us taxing casinos helps our country to sustain our health care sectors and they are directing the taxes for this sector which badly needed funds to sustain their operation, I'm on it as long as the people who really need the services of this sector are met.

dmamigo

sr. member

Activity: 1232

Merit: 250

With such a huge craze nowadays with gambling platforms, governments are likely to tax gambling activities. Taxing will surely help them get more revenue. I am just wondering what will happen if they start implementing a tax on the users and the tax rate is quite high than the other taxes we generally pay to the government. That will be ridiculous for sure.

Fortify

legendary

Activity: 2688

Merit: 1192

Quote from: xSkylarx on June 15, 2021, 01:01:08 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...

- Certain countries do not tax winnings, I think this is a fair approach - tax the company running the show and making the the vast majority of the profits, do not tax the winner who may have stacked up many losses up to that point. Every country needs taxes to keep government and services running for the benefit of everyone, I don't see why gambling institutions should get any special treatment and they can actually be detrimental to society (creating addicts) so may be required to pay a premium for the extra burdens they create compared to say a company running nursing homes.
- Maybe 5-10% over the standard company tax rate, as previously described they are a bit of a negative drain on society - doing more damage than providing positive benefits.
- Casinos and bookmakers are money making machines, people are generally rubbish at properly determining odds but their ego thinks otherwise. Casinos with their fixed payouts and bookmakers with decades with of historical scores to go on will almost always have an advantage over normal players.

el kaka22

legendary

Activity: 3654

Merit: 1165

www.Crypto.Games: Multiple coins, multiple games

Implementing tax on everything helps a country, why would it be any different for gambling? I mean if you take a tax on selling water, tax on food, tax on income, tax on luxury, tax on entertainment basically tax on every single thing, if one dollar is spent somewhere governments take a tax on both side, the buyer pays vat and seller pays income tax, so something that is spent is nearly half tax in most nations.

So, why would it be any different for gambling? If you gamble then you need to pay a tax, if you lose then casino has to pay a tax, if you win then you have to pay a tax, hell be happy that they do not charge for wagering because in that case you would have to pay tax no matter if you win or lose, which is the case for many sectors. Which is why gambling is not a different situation, if you spend a dime, government charges you a tax.

Pokapoka124

hero member

Activity: 1148

Merit: 555

Gambling sites are legitimate businesses so there is nothing wrong in the government taxing them. A business is only legitimate when you pay your taxes. Gambling platforms shouldn't evade taxes, they are not a charity organization

Hamphser

sr. member

Activity: 2604

Merit: 338

Vave.com - Crypto Casino

Quote from: adzino on June 16, 2021, 02:41:14 PM

Aren't the casinos already taxed? As far as I know, all casinos have to pay a tax. Even crypto casinos, if they touch fiat, they will have to pay tax. And at least over here, if you play on a casino and win, you have to pay tax on your winnings. It's probably considered as an income tax (not sure about this though). I doubt there are any country out there that doesn't tax their casino. To answer your question, yes tax does help a country. Doesn't matter where the tax comes from, but it helps a country to develop and is one of the main sources of revenue for the government.

Every business does and its not a new thing because tax is the blood of a certain economy and we know on how important it is for a country so its just normal that those taxation are part of the norm.

Questioning if taxation is really helpful to a country? Yes it does because if it wasnt useful then it wouldnt really be existing at all.

Tax does play a vital role on an economy and its just normal that businesses would really be asked out to pay up some percentage tax
as part of their obligation.

adzino

copper member

Activity: 2968

Merit: 575

www.Crypto.Games: Multiple coins, multiple games

Aren't the casinos already taxed? As far as I know, all casinos have to pay a tax. Even crypto casinos, if they touch fiat, they will have to pay tax. And at least over here, if you play on a casino and win, you have to pay tax on your winnings. It's probably considered as an income tax (not sure about this though). I doubt there are any country out there that doesn't tax their casino. To answer your question, yes tax does help a country. Doesn't matter where the tax comes from, but it helps a country to develop and is one of the main sources of revenue for the government.

tabas

hero member

Activity: 3024

Merit: 745

Top Crypto Casino

Quote from: acquafredda on June 16, 2021, 12:18:01 PM

I am not following this anymore, are there any dex casinos?

I think that there's still some in existence but it's hard to know if they really are actual dex casinos because that's what they're trying to say and describe themselves.
But if you look at their operations, you'll say that it's not a decentralized casino.

acquafredda

legendary

Activity: 1316

Merit: 1481

On the other hand, if decentralized crypto casinos would gain traction it would be almost impossible for regulators and tax authorities to get their taxes out. I mean, think about DeFi that is not controllable right now (talking about DAI, mainly since centralized stablecoins can get frozen) if the same concept would be applied to gambling tax authorities are going to have fun.
I am not following this anymore, are there any dex casinos?

uneng

hero member

Activity: 2044

Merit: 784

Leading Crypto Sports Betting & Casino Platform

The most useful help through gambling for a country would be if common citizens were allowed to invest in bankroll of casinos to earn with the house. This way, benefits would be superior to any other achieved by taxes imposed by the government, because each citizen would see direct advantage on it, as there would be a constant extra income landing on their personal accounts from times to times, very different from indirect advantages we don't always see on practice when the government charges the tax and apply it somewhere we don't even know exactly. Worse yet, but not rare, when this money is stolen by authorities.

Topic: Does implementing a tax on a gambling platform really help a country? - page 8. (Read 1323 times)