Topic: Gambling friendly countries - page 4. (Read 628 times)

Each country that regulates gambling regulations applies taxes depending on the determination of each country, but countries that prohibit gambling regulations also impose unofficial taxes on casinos for licensing illegal operations which are regulated based on agreements with gambling parties and parties in power to provide gambling permits, possibly parties gambling deducts part of the betting winnings or the casino bears its own taxes to pay for the legality of unofficial taxes.

In my opinion, there must be two kind of countries which are friendly towards gambling: those which do not tax the gamblers whenever they win and those which do not tax the casino as much as other jurisdictions. In the United States is common for both casinos and gamblers to pay a cut of their winnings to the government, that is clear. Though, I wonder whether there is a relation between both approaches.
Do countries that not tax the gamblers end up taxing more from the casinos in order to compensate? Those countries which tax more from the gamblers do not do the same with casinos to some extent?

The only thing I can assure from my relatively limited wisdom is that since casinos are businesses, they are likely to always end up being taxed based on their income. Otherwise, countries without any kind of taxations to both casinos and gamblers would be paradises for that industry.

quick search over the net will give you a lot of info or related articles on this particular subject. however, what is the chance that you can really relocate to those countries? definitely, not only because they are not charging tax on your gambling winnings but a lot more will be finally considered before you move in to that country.

but do take note that even if there are published sources over the net, the actual regulation may deviate from what has been available over the net. you will only learn such practice when you are already inside the country. so before you actually move in to an unfamiliar territory due to your gambling desire, better think of your to-do-list before anything else. because at the end of the day, it is not only gambling that you need to consider when you want to live a decent life outside your comfort zone.

The Ultimate Guide to Gambling Tax Rates Around the World

Nice to see there are countries where gamblers aren't taxed over their winnings. After all, it's hard enough to make consistent profit from gambling, so it's totally fair local regulators respect this moment of glory only few gamblers are able to achieve, ensuring they can enjoy the whole profit for themselves. It would be great if another countries followed the example of the ones mentioned on that list.

It doesn't sound ethical to have to share profit with someone (the government) who doesn't take the risks of the bet side by side with you. When you lose there isn't any kind of subsidy to attenuate your losses, but when you win, you have to share a large percentage of your profit with the government. In brazilian federal lottery, only 43% of the value raised is added to the prize pool. And when someone wins, he still has to pay taxes to the government (around 30% of the total prize). And there could be even more taxes involved on the process I'm not aware about, because in Brazil we never know...

There are no details about the taxes levied in my country from gambling. It doesn't matter to me that much anyway. Why do you want to know.
Gambling taxes may be high but nothing is accurate and varies from country to country.
Gambling taxes are different from other taxes such as those experienced by football players or other professional sports players.

Of course, each country has its own policies and rules regarding the regulation of gambling. However, from research I have done, there are at least several countries that are known to have fairly low or even zero taxes on gambling winnings, and some of them have been mentioned by all of you who are part of this discussion. and some of these countries include; Malta, which is a country that is quite popular for gambling businesses because it has quite friendly regulations and taxes that are quite low and friendly. Singapore, which is a small country in the Southeast Asia region, in its regulations regarding winnings from gambling, the country does not even impose any taxes at all, and this applies to both local residents and tourists. So this country has its own charm to attract gambling fans to bet there. And the next and last thing is Hong Kong, even though there are several types of gambling that are prohibited there, which may not be as free as other countries, Hong Kong is also known to be one of the countries that applies fairly light tax rates.

As far as I know most gambling operators are given special treatment by the government such as in Vietnam and Cambodia and almost all  working gambling operators come from outside the countries whose passports are being held. It may sound gambling friendly but it cannot be completely guaranteed that the income tax there is guaranteed to be small.
If you are just a casual gambler then there is no need to think about state income taxes from the casinos they legalize. Because there is no point in the state legalizing or prohibiting it, we can play in our own  way even if there is a difference it is only a matter of operational permits  where the government likes to play around and allows gambling outside of official policy.

Nigeria should be the most gambling friendly country in the world. There is no taxation whatsoever on gamblers even though they wreck the casinos with heavy winnings, the gamblers take all the money. There is also no restriction in terms of using cryptocurrency as anyone is free to use any method of deposits and withdrawals without any form of restriction. This is the reason there is surge in cryptocurrency usage and gambling proliferation in Nigeria. There is hardly any major street you visit in Nigeria without a physical casino, operating freely with sizeable customers. I don't think there is any country that will beat this record in the gambling business.

If you are so concerned about gambling tax, then I will advise you to use maybe only crypto-related casinos, which won't require you to pass KYC before you can do anything like deposit, play, or withdraw. By doing so, you can rest assured that they won't report your activities to your tax authorities. 
 
Here in Nigeria, I don't think I have ever been charged or taxed for gambling, like making a betting deposit or withdrawal. I have never paid tax for such, even when I make use of my local currency to deposit and withdraw at a casino, for which I also pass KYC. I have never noticed any tax deductions from my balance; maybe tax is not being taken very seriously in this part of the world.

    One of the countries that regulates gambling is China's Macau, Singapore, the Philippines, the United Kingdom, Ireland, and Monaco. These are just a few of the things I know about this matter in terms of the gambling business.

    But what I do know is that there are others who are also open to this kind of gambling as long as they have something to gain. For sure, it is okay for the country to legalize this thing as well, right? Also, as far as I know, the government of each country recovers the tax they deduct from the winning price of a winning gambler.

You can get a good idea about such countries easily from a search engine query. At present, my country is not friendly towards gambling and therefore the rise and popularity of online casinos.

Its because people want to gamble and it is full of taxation in lines of lottery as well which is legal. Therefore people are using crypto to avoid these problems altogether and move to a different mode of gambling.

I think Monaco might me your go to country. But crypto is not a bad option here.

That's too much of a precaution that you will have to move to another country all because you wanted to gamble or withdraw a large amount from a casino.
It's always not what it seems to be when you go to other countries, the laws may appear friendly but there is a catch to it. You wouldn't want to wind up in some countries where your language is never understood.

The most of the developing countries allow the gambling in their countries,because the gambling site also pay some fees for the government from their earnings.Most of the Islamic based countries doesn’t allow the gambling in their countries.Because gambling was against their religious beliefs,So the government based on the Islamic also against the gambling site.The people where the country was allowed the gambling as legal tender was the lucky people.Because they are not force to use the VPN to play the gambling itself,if the gambling based on fiat means.It’s hard to withdraw money from that gambling site in the mean of fiat.

if you search on google, maybe you will find a list of countries that charge small taxes to gambling players. but the problem is, is moving to these countries more worth it compared to continuing to gamble in your own country? especially for modest gamblers, it's not worth it just to move to these countries just to avoid taxes in their country.

moreover a country that imposes low taxes on gamblers cannot necessarily be said to be a country that is friendly to gamblers, because there are several things that make a country that can be said to be a country that is friendly to gamblers, and low taxes alone are not enough for this.

That's somewhat misleading. I can't see Russia in anywhere on that page, and when i take a closer look, their gambling is under state control and monopoly, same for us in Finland. So if i they online they definitely need to pay taxes, or if they gamble anything that's not organized by official government organizations it's illegal.

This has plusses and minuses, as while jackpots in Finland are lower in slots and lottery for example, most of the profits of gambling used for good causes.

And looks like in Italy, rules on what's allowed as gambling and what's not are pretty weird. No luck based allowed but bingo and online gambling is allowed for example.
https://en.wikipedia.org/wiki/Gambling_in_Italy.

I think in most African countries they do charge nill or less income because I've actually heard from some persons who are in these countries speaking about not been taxes at times from their gambling wins except their banks tax them at times but not with the reason that they won from a casino or neither is it called gambling tax.

I don't know why the tax placed on gambling win appears so high in some other country, probably it's their way of discouraging gambling because it's seen as money tht was earned for free without any form of much stress so for that reason they would want to make sure the gambler is well taxed but then I think it will really be a fair practice if the gamblers is considered and a reduced tax is placed on their wins so they too can enjoy the proceeds of their gambling profits.

I'd read a lot about gambling-friendly countries, but I never knew that people could take it seriously because you will hardly see a country that does not allow gambling, and their reasons could be mostly about religions which we have to respect when we are there. Aside from those countries, any country that allows gambling is friendly to it as far as I'm concerned, though the friendliness may vary. Still, the ease of gambling there could be taken into consideration, in which taxes are part of the good factors to make it more welcoming in the country. However, the countries where gambling is somewhat more rampant, if that is the right word to use, are the USA, Singapore, China, The UK, Germany, Australia, and many more. Personally, I do not believe statistics in this regard so much, I can only believe that most countries of the world are gambling, and the gambling magnitude can only be traced to the culture and population of the country. In most cases, the higher the popularity, the higher could be the number of gamblers.

As for the taxes, I think you need to be careful, I have too many conflicting details on the internet, so it is not worth sharing. What you need to watch out for are the ways some countries tax those playing in their jurisdictions. Some might tax you on online gambling activities but not tax you on offline gambling activities. It might be in the inverse fashion with other countries. While some will tax your net gains alone, or not even tax you at all. So, I advise you to learn the gambling tax law of the country you intend to go to rather than randomly seeking advice from people. It could mislead you painfully. This is even as the sources I sought advice from are conflicting.

I thought you want to talk about a country where gambling is legal, many of countries do allow gambling especially for foreigners.

Or he might be want to create a bank account in those country, so he can avoid tax if he withdraw his money to other country's bank instead of his local bank, although I don't know how legal is this.

But most of online casinos are forbid western jurisdictions.

Well I have not read of Nigerian gamblers complaining of being taxed or neither the gambling companies complaining of low patronage, so whichever one you choose may be profitable as their seem to be huge gambling environment for Nigerian gamblers  

However, looking for a region to relocate to because of their gambling suitable environment shouldn't really be priority but priority should be how efficient your gambling profitability is.

I think the Philippines is one of the most friendly countries for gamblers. However, they don't offer a lot of gambling casinos to their citizens but only for tourists. I believe POGO (Philippine Offshore Gaming Operator) is still operating in the Philippines, and the country derives decent taxes from this operation. However, I didn't hear that they are taxing gamblers on their winnings. So, if your intention is to avoid or at least pay only minimal taxes, then maybe you can try to gamble in this country.