Donating the Gambling profits - page 6.

SquallLeonhart

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Quote from: youdacapt on October 26, 2019, 03:46:21 AM

When I decided to divide half of it to donate to those in need, it worked very well to stop the desire and greed to be more controlled.

That is true. When a gambler starts feeling their responsibility, definitely they will gamble consciously so that they could stop their gambling at their wish. Emotions cannot control a gambler who is gambling responsibly. You may not be necessarily having a responsibility for donating but your responsibility could be related to your family or your own health and wealth related too. That will work in a way so that you could gamble profitably or at least you may not lose big.

Quote from: Obito on October 26, 2019, 12:14:32 PM

I have always thought of donating a part of it if I win that huge or my imaginary prize.

That is the wish of every gambler but fortunately or unfortunately gambling never let to fulfill our desires. When you are planning up to win big so that it could donate then you will never end up your gambling with profits. You are just planning up to make big profits out of gambling and donating from that is just a secondary thing. In my experience, that had never worked for me too.

Obito

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Quote from: JohnBitCo on October 20, 2019, 08:22:32 AM

Have you ever thought of donating the gambling profits to a charitable cause ? Sometime people won a big lottery or very high amount of money from betting & gambling games. Do you ever thought of being generous and helping the poor with this money ?

I have always thought of donating a part of it if I win that huge or my imaginary prize. Though I used to bet for the sake of buying something I necessarily need. Out of fun I somehow think though but sometimes I myself feel ashame at some point because I used to think that donating money out of gambling is a dirty money. But out of call pity because this anxiety of mine that urge me to donate specially to those who badly need dragged me time after time.

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Quote from: bisdak40 on October 25, 2019, 07:35:55 AM

Is that considered washing a dirty money to be clean. They say that "gambling money is dirty money" so if it is donated to charity they will be cleaned now Grin

.

NO, that's a wrong mentality, gambling money is not dirty because gambling is not illegal.
For me, I would not donate money just for the purpose of washing it, I will donate because I like what I am doing and I want to help the needy.

Gambling money is like your income in a business because you risk the money to make money, we should think that way.

We can't convince some people who never agree that gambling money is also just the same money due to religious facts but this is money we got and if we want we can donate or just keep it ourselves,dirty money also have the same value as pure money. Cheesy

Exactly mate,it doesn’t matter where’s the money came from and from how we accumulated this but the important thing is our willingness to donate heartedly

Who cares actually?its our money and we can donate it,the problem is many are complaining and putting stupid comments but the truth is they don’t even care to donate but only to criticize people who has a heart to help

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Quote from: youdacapt on October 26, 2019, 03:46:21 AM

I analogize gambling money as a hot asset, not a dirty asset, several times I make a profit, always losing half more than nominal profit. This is because of my thinking to continue to double the nominal without limits. When I decided to divide half of it to donate to those in need, it worked very well to stop the desire and greed to be more controlled.

That's a good way for you because not all gamblers will donate their profits and I have seen many cases like this, even those who don't donate the huge profits they get from gambling but they still have good control not to be greedy. So in this case each player will indeed have his own way to control greed and whether or not to donate it depends on someone's personal to do it.

Best Dreams

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Quote from: dobolspeed3 on October 25, 2019, 07:29:14 AM

Quote from: jhonjhon on October 25, 2019, 06:35:12 AM

Quote from: leowonderful on October 20, 2019, 12:50:59 PM

I already donate a decent sum of money I make from crypto to charitable organizations and charities, and though I'm overall not very profitable in gambling (very few people are), I'd certainly consider donating a portion of that money to a good cause. There's an exceptionally slim chance I win any sort of large lottery or a significant underdog bet in the first place (due to my risk management strategies in esports gambling), though, so that's something I don't plan on thinking about until it actually happens, if it happens.

Wow how good of you to do that, I would also agree, I think it is good to you know share a portion of your earnings to those who are in need like share your blessings not to really brag of what you’ve achieved or wgat but just to atleast a form of giving back that you are blessed with something.

You have done your best for now and always maintain it if you benefit from gambling (it's not a necessity). I want to share my experience too, that I also do that. Because in my opinion it is a noble behavior and I use the proceeds in gambling to contribute.

This is no doubt the best thing when you keep feelings for poor and needy people the same you have for yourself. Don’t worry about the situation but try to win and earn so that you will be able to help needy and poor, its a spirit to have guts helping other that's why better earn and help those who need your support and help to live to try to make a donation for trustworthy sites.

Pmalek

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Quote from: Natalim on October 25, 2019, 05:32:22 AM

...there's no reason they still have to deduct tax from the wining, that's not attractive to lottery bettors where they know their chance of winning is very slim.

It is not the lottery that is deducting the tax, it is the government and the country you live in that deduct the tax.
Taxes in the US are huge. According to a Forbes article they can go as high as 37%.

Read about it here:
https://www.forbes.com/sites/robertwood/2018/10/23/1-6-billion-mega-millions-lottery-winner-faces-huge-taxes-possible-lawsuits/

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I analogize gambling money as a hot asset, not a dirty asset, several times I make a profit, always losing half more than nominal profit. This is because of my thinking to continue to double the nominal without limits. When I decided to divide half of it to donate to those in need, it worked very well to stop the desire and greed to be more controlled.

Sadlife

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Quote from: bisdak40 on October 25, 2019, 07:35:55 AM

Is that considered washing a dirty money to be clean. They say that "gambling money is dirty money" so if it is donated to charity they will be cleaned now Grin

.

NO, that's a wrong mentality, gambling money is not dirty because gambling is not illegal.
For me, I would not donate money just for the purpose of washing it, I will donate because I like what I am doing and I want to help the needy.

Gambling money is like your income in a business because you risk the money to make money, we should think that way.

We can't convince some people who never agree that gambling money is also just the same money due to religious facts but this is money we got and if we want we can donate or just keep it ourselves,dirty money also have the same value as pure money. Cheesy

If you only see the joke from what bisdak says then you may find that he was sarcastic on that matter i will be saying this directly because i can see.the reactions

Catholic belief that Gambling is a bad doings but yet they are accepting donation from gamblers i am not saying this to be blamed but this is reality

And about the donation? I am.willing to donate half if i come to win jackpot from lottery

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We can't convince some people who never agree that gambling money is also just the same money due to religious facts but this is money we got and if we want we can donate or just keep it ourselves,dirty money also have the same value as pure money. Cheesy

Yes, that has the same value, but some people will not think like that. They consider that money from gambling is not from work, but people rely on luck in playing gambling. When they say like that, we cannot do anything except don't give the money to them but we can still give the money to people who really need or we can buy some food to people who need too.

It's difficult if it's related to religion because some people are strict with religion, and they don't want to interact with something that forbidden by their religion.

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Quote from: bisdak40 on October 25, 2019, 07:35:55 AM

Is that considered washing a dirty money to be clean. They say that "gambling money is dirty money" so if it is donated to charity they will be cleaned now Grin

.

NO, that's a wrong mentality, gambling money is not dirty because gambling is not illegal.
For me, I would not donate money just for the purpose of washing it, I will donate because I like what I am doing and I want to help the needy.

Gambling money is like your income in a business because you risk the money to make money, we should think that way.

It depends on where you are living mate,there a many countries that prohibiting gambling it means they are banning this area so the debate will never stop since if one of you live in place where gambling is legal and others live in places where gambling is legal?

And let’s not value religion in this topic because it’s about our hearts desires to help others either the money is good .org bad but the important thing is our motive and that is a heart full truth

bisdak40

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Quote from: dobolspeed3 on October 25, 2019, 07:29:14 AM

Quote from: jhonjhon on October 25, 2019, 06:35:12 AM

Quote from: leowonderful on October 20, 2019, 12:50:59 PM

I already donate a decent sum of money I make from crypto to charitable organizations and charities, and though I'm overall not very profitable in gambling (very few people are), I'd certainly consider donating a portion of that money to a good cause. There's an exceptionally slim chance I win any sort of large lottery or a significant underdog bet in the first place (due to my risk management strategies in esports gambling), though, so that's something I don't plan on thinking about until it actually happens, if it happens.

Wow how good of you to do that, I would also agree, I think it is good to you know share a portion of your earnings to those who are in need like share your blessings not to really brag of what you’ve achieved or wgat but just to atleast a form of giving back that you are blessed with something.

You have done your best for now and always maintain it if you benefit from gambling (it's not a necessity). I want to share my experience too, that I also do that. Because in my opinion it is a noble behavior and I use the proceeds in gambling to contribute.

Is that considered washing a dirty money to be clean. They say that "gambling money is dirty money" so if it is donated to charity they will be cleaned now Grin

.

Good job bro for doing such a nice act, in my country there are a lot of institution that needs funding and i hope someday that i would do the same as you.

dobolspeed3

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Quote from: jhonjhon on October 25, 2019, 06:35:12 AM

Quote from: leowonderful on October 20, 2019, 12:50:59 PM

I already donate a decent sum of money I make from crypto to charitable organizations and charities, and though I'm overall not very profitable in gambling (very few people are), I'd certainly consider donating a portion of that money to a good cause. There's an exceptionally slim chance I win any sort of large lottery or a significant underdog bet in the first place (due to my risk management strategies in esports gambling), though, so that's something I don't plan on thinking about until it actually happens, if it happens.

Wow how good of you to do that, I would also agree, I think it is good to you know share a portion of your earnings to those who are in need like share your blessings not to really brag of what you’ve achieved or wgat but just to atleast a form of giving back that you are blessed with something.

You have done your best for now and always maintain it if you benefit from gambling (it's not a necessity). I want to share my experience too, that I also do that. Because in my opinion it is a noble behavior and I use the proceeds in gambling to contribute.

jhonjhon

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Quote from: leowonderful on October 20, 2019, 12:50:59 PM

I already donate a decent sum of money I make from crypto to charitable organizations and charities, and though I'm overall not very profitable in gambling (very few people are), I'd certainly consider donating a portion of that money to a good cause. There's an exceptionally slim chance I win any sort of large lottery or a significant underdog bet in the first place (due to my risk management strategies in esports gambling), though, so that's something I don't plan on thinking about until it actually happens, if it happens.

Wow how good of you to do that, I would also agree, I think it is good to you know share a portion of your earnings to those who are in need like share your blessings not to really brag of what you’ve achieved or wgat but just to atleast a form of giving back that you are blessed with something.

Capt00

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Quote from: mersal on October 20, 2019, 12:29:01 PM

Quote from: noormcs5 on October 20, 2019, 11:59:23 AM

Quote from: mersal on October 20, 2019, 11:23:36 AM

I won't do that,unless the money I won is more than enough to complete a rich man's life. Cheesy

Helping poor is good thing but giving them money will not change them,we have to teach them about something which can be useful to find a job and lead their entire life on their own which cannot be done by individual it has to be taken care by governments.

So you are saying that you will not donate until you get a lot of money and but remember the more money you will get, the more greedy you will get too.
I also contradict your 2nd point of view because Government alone cannot change the people life, it is also the responsibility of the rich people to help the poor ones and every cent matters.

Its not the rich man duty,its government duty because everyone paying taxes to government not to the rich man.I just spoke the reality,people may say they will donate but after they won they will forget that and will continue to enjoy their life with the rewards until they exhaust it.

Right, it actually depends with the gambler if they wanted to donate or what, but I doubt it because most of the time gamblers don’t win big and when they win a decent amount then the first thought would be how is he gonna increase it, should he gamble it again or invest it on some other investments or some would even think of having a vacation with family some place else.

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Quote from: Natalim on October 25, 2019, 06:16:40 AM

Quote from: bisdak40 on October 25, 2019, 06:03:26 AM

Quote from: Natalim on October 25, 2019, 05:32:22 AM

In my country, lottery winning is free of tax and I think that is the justifiable since lottery business is very profitable.
True they give millions to the lucky winners but they are earning billions in a monthly basis, so overall they are still in profit and there's no reason they still have to deduct tax from the wining, that's not attractive to lottery bettors where they know their chance of winning is very slim.

In the Philippines, they will deduct 20% of your lottery winnings if it is above Php10,000.00. The current administration is doing that as to get more funds for charity and the infrastructure projects of the current administration. It is only now that the tax on lottery winnings take effect.

That's a big cut, why can't they just give the full winning to the people? Winning lottery is very hard and the government are making a lot of money from the funds they collected,.. so you are saying, if one person won a lottery in the amount of 100 million, he needs to pay 20 million as tax, that's too much, sorry but I feel like the government are robbing the lucky winner.

You got it right bro, 20% is the tax and i would give them 30% if i win the lottery with 100 million prize lol.

10 years ago when lottery in the Philippines is tax free but 100% corrupted, my colleague at work won a jackpot with a substantial amount and he said that it's not tax free as the officer of the lottery agency got some amount forcibly he said for funding of charitable institution. Who is he to say no, but he didn't know if that money he gave really go to the institution intended. That's more than a tax.

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Quote from: bisdak40 on October 25, 2019, 06:03:26 AM

Quote from: Natalim on October 25, 2019, 05:32:22 AM

In my country, lottery winning is free of tax and I think that is the justifiable since lottery business is very profitable.
True they give millions to the lucky winners but they are earning billions in a monthly basis, so overall they are still in profit and there's no reason they still have to deduct tax from the wining, that's not attractive to lottery bettors where they know their chance of winning is very slim.

In the Philippines, they will deduct 20% of your lottery winnings if it is above Php10,000.00. The current administration is doing that as to get more funds for charity and the infrastructure projects of the current administration. It is only now that the tax on lottery winnings take effect.

That's a big cut, why can't they just give the full winning to the people? Winning lottery is very hard and the government are making a lot of money from the funds they collected,.. so you are saying, if one person won a lottery in the amount of 100 million, he needs to pay 20 million as tax, that's too much, sorry but I feel like the government are robbing the lucky winner.

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Quote from: Natalim on October 25, 2019, 05:32:22 AM

In my country, lottery winning is free of tax and I think that is the justifiable since lottery business is very profitable.
True they give millions to the lucky winners but they are earning billions in a monthly basis, so overall they are still in profit and there's no reason they still have to deduct tax from the wining, that's not attractive to lottery bettors where they know their chance of winning is very slim.

In the Philippines, they will deduct 20% of your lottery winnings if it is above Php10,000.00. The current administration is doing that as to get more funds for charity and the infrastructure projects of the current administration. It is only now that the tax on lottery winnings take effect.

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Quote from: Pmalek on October 25, 2019, 04:58:19 AM

Quote from: ?? on ??

charities especially if the lottery is being handled by the government, the said institutions are helping charity works so they are also trying to seek for assistance from those lucky winners. Asking for donations to continue the charitable works by the institution themselves.

Just remember the government will first take a big chunk of your jackpot winnings as a tax. The tax can be over 25% depending where you live. After that you can to do what you want with your money. And none of that 25% will be donated for charity.

In my country, lottery winning is free of tax and I think that is the justifiable since lottery business is very profitable.
True they give millions to the lucky winners but they are earning billions in a monthly basis, so overall they are still in profit and there's no reason they still have to deduct tax from the wining, that's not attractive to lottery bettors where they know their chance of winning is very slim.

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Quote from: Btc_1856 on October 25, 2019, 02:23:12 AM

It completely depends upon the person characteristic because there is no guarantee whether he will the jackpot. Before Jackpot, many people wish to donate after winning the jackpot, but once they won, they will forget about their promises and which I have experienced this from many of my friends.

You had lucky friend"s" who were winning the jackpot? I have only seen people win the big multipliers on dice sites and then give out some funds to the chat and rain as an act of generosity. Donating money from the jackpot win is a long shot because there are two things to be considered here:

1. A person who has been playing for some time and yearns for the jackpot has the only thought of winning it clouding their mind. Probably they are only thinking of getting the money and stopping the play forever. Probably of pay of all dues and so on.

2. A person becomes charitable only when they have basic earnings already set and confirmed. For a gambler this is often shaky.

So instead of the players being charitable to organizations you can trust the casino owners to give out a weekly donation to such organizations.This is what Primedice and Stake are doing.

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Quote from: ?? on ??

charities especially if the lottery is being handled by the government, the said institutions are helping charity works so they are also trying to seek for assistance from those lucky winners. Asking for donations to continue the charitable works by the institution themselves.

Just remember the government will first take a big chunk of your jackpot winnings as a tax. The tax can be over 25% depending where you live. After that you can to do what you want with your money. And none of that 25% will be donated for charity.

Topic: Donating the Gambling profits - page 6. (Read 1468 times)