Topic: Gambling friendly countries - page 4. (Read 752 times)

Europe maybe? But I know some articles say gambling taxes are higher there but I don't know exactly which one is more friendly because we know some countries also don't tax gamblers.

I don't know about taxation for gamblers if they win because I haven't experienced it myself so other people will say different where they have experienced it, but is the taxation of gambling too high in your country now?

I wont be surprised that someone who is addicted to gambling will move from his country to a suitable environment that will increase his quality time in gambling. I have a gaming freind he left the country because of bad network so it disrupt his connection when he is gaming online. Because of that experience he had to leave the country to a more suitable company. 

in the case of my country, when a person buys a lottery ticket, for example, on each ticket that the person is buying, the person will pay 17% tax, so the gambling companies in my country when they set the ticket price they already have 17% tax. now in the case of local online casinos in my country, people pay tax when withdrawing their winnings, for example if a person makes a deposit using a bank, or other deposit methods, 17% tax will be deducted, the problem with that and even if the person didn't earn anything and still withdraw it, 17% tax will be deducted, which is somewhat irritating. but I still consider it a low value. Now, in the case of lottery winners, the prize does not deduct tax because people have already paid tax when purchasing each ticket.

as I have never seen anyone I know win the lottery jackpot, so I don't trust and I don't believe in my country's lottery, but as I have seen people I know win lottery prizes and then I was able to confirm that they really weren't cashed taxes. For the casino of foreign online casinos we do not pay taxes, they are still studying ways in which we would pay taxes, but for now in my country no one pays taxes when using casinos and exchanges from abroad. At local online casinos in my country, people deposit using fiat from my country and use payment methods that allow taxes to be deducted. So the government of my country is studying a law that would make people pay tax whenever they take money abroad to bank accounts in my country. This way everyone in my country who used exchanges and casinos in my country could pay tax but this law is still a long way from being approved

I live in a country where gambling is allowed and I thought that it was also allowed in neighboring countries, the border of which is very close to my one city. But then I found out that it is prohibited in these neighboring countries (I mean hosting a physical casino). And now I understand why it is allowed in my home country and why there are so many casinos in my hometown - this is beneficial to the authorities. I'm not against it, because it creates jobs.

I don't know about what charge less with tax or have taxfree laws about gambling. But only two places that comes to my mind about the friendliest countries in the world if it's about gambling.

• USA(Las Vegas)
• Macau

Anyway, you don't have to think about the taxation when you gamble because how can you be sure about that you're going to win?  
If you think that you can win with your bets then you can simply stay at home and play from there so that you won't have any trouble at all when you gamble. And with the help of articles[1] like this we are having the idea on how the gambling tax happens in most of them. The article was published last year and there's the list about high and low tax gambling tax rates for different countries.

[1] The Ultimate Guide to Gambling Tax Rates Around the World

Tax laws regarding gambling winnings vary significantly from country to country, and even within regions of a single country. Some countries impose high taxes on gambling income, some others may have more favorable tax treatment for gamblers. Few countries have gambling-friendly tax policies, where gambling winnings are either taxed at a lower rate or not taxed at all. Those countries are usually small countries that don't have wide land for agriculture nor manufacture, such as Makao, Monaco, Malta etc. I dont know the detail of the taxation, but this policy is being applied to attract tourists, because those countries rely on tourism and commercial service for the income.

Gamblers need to research and understand the tax laws and regulations specific to their country of residence or where they plan to gamble. Tax treatment of gambling winnings can vary based on factors such as the type of gambling activity, the amount won, and the individual's residency status.

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.