Topic: Gambling with crypto because taxation makes no sense? (Read 545 times)

A typical live happenings of how taxes are actually paid by the customers alone by virtue of extension, most times it turns out the these supermarket and big stores actually don pay tax because by extension they make their customers pay by virtue of everything they bought.

Personally I've not experience tax with my wins from casinos except when the money is paid into my bank account them the bank tax but directly from the casino I get my exact money. Except for land casinos which I don't have much idea because I don't gamble in the land casino except online in my convenience. Gamblers experience taxing mostly with some of these online casinos who are not reputable enough so they can use such opportunity to exploit gamblers.

The thing is that things should always be like this, when we are in a casino we must do things for our benefit, no type of tax should be given to a government for us playing and when it is for crypto, well less, things are not They can give like this because when we are in a casino and we have options to do things to enjoy, we do not have to put them like this so that others can get paid, no, that is something I would never do, and it is also obvious that by simple inspection , I will never in my life You should not pay taxes for using crypto or for using a casino, unless you know crypto is natural, because it is something that we should not do, I have seen that there are some users here in the forum who do agree with paying taxes for using crypto and launch a crypto casino , the truth is that I think they forget why this thing about bitcoin and crypto was created, where their main function is Freedom , that no one touches their own money, not even a government, much less a bank, so be it. to have fun in a casino.

This thread is good to remind some players of that, perhaps those who want to pay for crypto because it is their decision, I don't see any other option, everyone sees how they give away their money, but I am of the opinion that they don't give anything to a government, because obviously I have a very bad view of governments since I do not trust any government, for me they are all corrupt, and that is being seen worldwide, so when it comes to this matter of crypto it should never under any circumstances be paid something, that should never happen, because it is something that we should not allow.

They encourage paying taxes for using crypto or for using a casino, under what criteria will they want to do it? What I sense is that they want to show that they have a lot of money, or that they are exemplary citizens, something like that is what I imagine, or maybe they want to attract attention, there are many reasons, there are people who like to be recognized by others, they are something I don't understand.

Lot of people look for means to invade tax all the time, which make sense in some points, depending on what the government wants to task the citizen for.
 
For the aspect of gambling, well, I don't even know, how serious that form of activity is in my country – if not, such tax is not even worth paying in my own opinion. I play, gamble and I lose all the time and they don't refund me for that, which is recorded as my own lose, and when I finally win something little from gambling, they will want to tax me. 
 
Casinos are being tasked and they pay heavily to the government for operating in their so that alone should be enough for them. And even if we use crypto all the time to gamble or to make our withdrawal, there is a way the government can impulse this tax on this casino, if they are licensed by them, and whichever means that gamblers want to withdraw with will help the government deduct the tax. It will be easier for them to identify using logging IP and KYC.

Where do you have to pay taxes on winning? In my country I don't have to pay any tax to win or withdraw money from casino. I couldn't imagine if anyone had to pay taxes on winning. Btw what happens when you lose? Do you get tax return? This is so unfair.

If someone lives in a country where they pay tax on winning from blackjack on casino, they might be forced to pay taxes on their crypto income, so this is not going to help them.

I think taxation in gambling will also depend on the games and if where they are done (e.g offline or online) and maybe depends on the betting company as well, as some games like lottery are still not being taxed on some gambling places, mostly online. It also depends on the country, as I already heard some countries are being taxed on their gambling activities while I believe many aren't like that.

We are wrong if we think we can escape tax if we use a crypto as a currency because there are countries now like for example India are taxing the crypto users. Not only that, but the tax being charged on them is also bigger than usual.

Most gamblers don't like to pay taxes when it comes to gambling, so gambling on crypto gives them more benefits. There is no government control in crypto everyone can bet independently online. No one will get the information easily for online gambling. There is no provision of taxation through these online gambling. So whatever amount of money one wins from this gambling he can withdraw it without paying any tax to the government. This massive and uncontrolled flow of money from one country to another through online gambling. The type of gambling has changed with the times. Therefore various forms of online gambling are beyond the control of the law. Off-line gambling is taxed by the government as it is covered by government laws.

There is no way one can avoid paying taxes at all if they are living in a country that is pretty strict with these things because even if you manage to pay no taxes after winning in a cryptocurrency gambling platform, you will eventually have to cash those cryptocurrencies out and when you do that, you have no other choice than receiving the money either in your bank account or any other micropayment system and both of these are completely regulated and accessible by tax authorities.

So, when you receive a certain amount in your account, they would know about it and you will be asked to pay your taxes or in some cases, they might even deduct it from your account balance in case you have agreed with their terms and conditions and there might be a term regarding this as well.

Partly true but it's more on convenience, because of the popularity of online casinos and the use of Cryptocurrency, taxation is easy offline because your winning before you receive it is already deducted by taxes but when it comes online things are complicated, but for me, I am not playing online with Cryptocurrency because I avoid getting taxed it's just that I'm more at ease playing online in the convenience of my house than going out to play on offline casinos.

I agree with you that these are unfair procedures against those who will win, but at the same time I rule out the hypothesis of deception when one of the state institutions is the one running the competition because it employs legal representatives specialized in this type of procedure to undertake the monitoring and verification process during the competition and during the distribution of prizes.
However, when the winner is participating in a competition run by a platform or company outside the country (usually online), the receipt of the tax will inevitably pass through the official channels of the state, and therefore he will be required to prove its source, which will be known to the authority on the basis of which the value of the tax will be determined and deducted.

There are countries where laws are soft towards the casino and most of the casinos move their operations there to save taxes. Similarly, the Curacao license got so popular because it literally allows the casino to do whatever they want. As for the taxes on the gambler, I think it depends on the country you live in.

If the taxes on gambling are too high, which doesn't make sense, then yeah you can gamble anonymously and at least avoid paying taxes on money you are losing xd.

It will depend on each country because there are countries that don't mind and don't ask for taxes from crypto users, especially if they can win from gambling at crypto casinos. But I don't know what the regulations are in countries that allow crypto to be used for betting. There may be taxes they have to pay because regulators monitor all the activities of their citizens. Regulators or the government can easily track the use of our money and they can also ask us to pay taxes on the gambling we do. The government can also find out if we can win from casinos, and they may ask for additional tax money than before.

Well I wouldn't know how that feels like, I can only imagine, because in my country, government pay less attention to taxing gamblers and casinos, so it doesn't really have that much of an effect on us the gamblers. But if there's one thing I know, it's the fact that government has this special satisfaction they derive in messing with their citizens, whether in the tax sector or other sectors. It has always been their thing.

For countries that implements such taxes on gamblers, then year, crypto casinos are simply the best option, because you don't see the government coming there to tell you what to do with your money or take some part of it. The losses alone is enough to make someone go crazy, and it's only unfair that when you manage to make a win, you have to cut a chunk of the money and give it to the government for tax. That's insane.

It's good to pay your taxes if you are a good citizen and you see how your government is utilizing the tax correctly. But it's annoying if the government appears to be cheaty, where they would only be concerned with the winning of the players and turn a blind eye to the losses. Well, tax laws vary per country, but the ones I've read don't give room for the government to cheat their citizens.

In gambling, all the laws I've read were clear and most of them have the clause that you only have to pay tax on the summation of the (gross profits - gross losses = $), not otherwise. So I don't see cheating here, for example, if you have had an aggregate loss of $5000 in 6 months in 100 bets and you just won a bet of $5000 in a day, you are still paying your government nothing $(5000-5000) = $0 tax. This is fair enough to me unless the person is looking for an ingenuine excuse not to pay the tax.

It even got better in my country as gambling earnings are considered non-taxable income for the bettors, and the government earns gambling tax from the income generated by the gambling house. The exemption is when the gambled money is higher than 150,000,000 of the currency which is a huge money that you rarely see people gamble with. So, anyone can see why the government at most times do not pay attention when the house cheats their customers as that would amount to more money for them...lol

I can't discuss the tax systems of other countries, because I'm not 100% familiar with them.
The tax system in my country is as simple as it gets. There's a 15% gambling revenue tax(which all casinos have to pay) and the gamblers should pay 10% income tax for their winnings. It's not that complicated and it doesn't require an accountant to be hired to do your papers.
But yes, all people hate to pay taxes and the crypto gambling industry was created with the initial purpose of being free from taxes(because crypto wasn't well regulated 10 years ago). Nowadays, crypto gambling is as regulated as fiat gambling(well, most of the crypto casinos) and I can't find any major benefits of gambling on a crypto casino instead of a fiat casino.

The gambling sites are supposed to be the one paying taxes, if you are a gambler in any country that you are been taxed for winning I am so sorry for this is inhuman behaviour from the government,  I would rather not gamble at all, because it's like gambling for the government, I am not a enemy of the government but I am never satisfied with their ways of leading the people, such thing isn't happening in my own country but it's sad that many people are facing this in some part of the world.

In my own country there is no form of taxes on gambling, both online and offline, but I am pretty sure that many gambling companies are paying good amount of money to the government, I am sure that they are the only ones paying taxes, not the gamblers themselves. 

Taxation makes no sense, it really shows that the government are living base on the peoples money and they don't care if the world knows about this, because of this taxation nonsense that's why I decide to never travel to some foreign countries where taxes is a most from those who are still struggling, it's killing.

in my country (Italy) winnings are taxed "at source" by the bookmaker but in the case of substantial winnings they must be declared and an additional tax must be paid! 

The most disturbing thing is that here we have a monopoly that restricts the number of operators and requires everyone to adapt.
What happened? It's simple: we have fewer events to play, less "liquid" markets (since only Italians can play) and lower odds than those found online (!) .... pretty clear that with an arbitrage system they are earning much much more % respect other countries...
And Yes, if you win from a crypto casino (that it's something borderline...) you need to declare the amount you win (and you can also risk a fine for playing there...)

This sector is obviously seen negatively by public opinion.
But imposing this whole series of conditions makes us understand how bad this system really is

tax can be avoided in crypto casinos which are made for crypto gambling by winning their and keeping the winnings in crypto but while withdrawing we need to pay tax on crypto gains,
 But i think it will be hard to avoid tax deduction sites which just allow deposits from crypto and play on their platform with fiat.
Not every site deduct taxes we can withdraw what we have won on their sites without giving anything to site or government, legally we need to pay taxes if the winning amount is taxable.

Well in a way, gambling with cryptocurrencies kinda put you in a position wherein you are able to avoid taxation since it's still not clearly defined on how governments will tax proceeds in winnings through cryptocurrencies. I agree that it's kind of unfair that gambling winners still need to pay governments their 'share' of the pie due to legal reasons, but the money obviously came from the platform that also has to pay taxes, so it's just a chain reaction that we all are a part of.

Sooner or later, crypto gambling will have a more accurately-defined taxation laws. It's always just a matter of time for new things when it comes to law, and crypto gambling is no exception to that.

Both the government and gambling company are living on us in our winnings and losses, like a parasite we are their host and the escape from taxation into crypto is definitely a temporary escape therefore we should enjoy it while it lasted. The government will find ways to penetrate, if they can do it with exchangers then it's all possible that in ways we never expects they will penetrate through get us taxed, and the gambling companies won't want to act deviant to that when the time arrives so they can have a smooth business environment in the jurisdiction.

So you have no problem with taxation, but start having a problem when it's 30% or more? You should check the income tax by country and you'll find that many countries exceed that level.
In fact most of Europe is above 30% when you reach a certain income threshold and in most of these countries cryptocurrencies are nor exempt from taxation.
Germany is one of the few countries where you can avoid paying tax on your cryptos, but I'm not sure if gambling profits fall into this category. You'd have to hide that profits come from gambling and report your cryptocurrencies like they were an investment.