Topic: Gambling with crypto because taxation makes no sense? - page 2. (Read 545 times)

Mmmm I don't know in yours, but in my country you can detract all the loses of the year from the winnings when you gamble, so you only pay taxes on real profits. I agree that you have to know how to fill up the tax forms and update an excel every time you play so you keep perfectly your track, but left all this hassle, it is fair somehow.

I like the crypto + gambling combo not because of tax evasion but more because of privacy and, at last, because it is like gambling on steroids: you lost, but the cryptos went up and you end up winning, or viceversa, which is much more exciting IMO.

I have paid taxes indeed because no matter how much you win, at some point you have to exchange it for fiat and that's where you have to mention how you earned the money you are receiving. Yeah that said, when you are losing you at least don't have to explain it or mention it.

True and agree 100%. Crypto casinos were popularized for 2 main reasons, one was transparency for provably fair games and second for the anonymity.

Whats better policy for taxation is to tax companies who do employ accountants and run formal books.   The risk run with taxing a population with small amounts gambled or spent is they become criminalized by the paperwork and inability to file any forms on time or correctly.  It makes far more sense to have any national policy vs companies, again legally they will have staff to be aware of all the varying laws over time.   Personal tax was not common until the modern age, its only in the last century its now every person not the companies who are held responsible which is unfortunate and clumsy imo.

for now, i think a lot of crypto gamblers are enjoying the benefits of not getting taxed out of their games. most countries are still in grey area  when it comes to implementing their taxation protocols over crypto. this is why i truly believe that a lot of gamblers are still getting away from paying those taxes. it is true that we are heading to the direction of being under the eyes of the authorities but it would take time for them to even draft the actual regulations over crypto. this is why enjoy such benefits while they are not fully implementing such taxation laws in this market.

It cannot be denied that taxation is something that we often avoid, we don't like, and even makes us grumble because of the high taxes that we have to pay in some cases. Even now, on local exchanges, there is a direct tax deduction when trading there. so we can't avoid it. especially in gambling, if there is a tax deduction, of course this will also be a burden for users if the nominal amount is unusually large.

Gambling using crypto might be able to avoid taxation, but won't that also depend on the online gambling platform? Or will it also affect when a gambler withdraws their money to an exchange or when they make a withdrawal to their bank account? Whether we like it or not, if the government has implemented taxation on our income, there will be a thousand ways to get it from us. ha ha ha

I'm one of them. The authorities in the jurisdiction I live have no expertise to track whether I'm gambling through crypto or not and how much. The thing is crypto gambling online is still a grey area. I need to pay taxes withdrawing from a gambling site to my bank and pay when I withdraw from exchange to my bank. But if I don't use the bank they get nothing.
They might have my IP logs of visiting the site but they can never prove anything and haven't tried it with anyone. The only downside is one day they may block the popular ones from the internet and VPN are not allowed in many sites.

Everyone has reasons why they choose to gamble with cryptocurrency to avoid local tax. We need to make sure to avoid taxes if we know that we are paying too much tax for no reason. Sometimes the government enforce tax on gamblers without minding how many time the gamblers had made lose. They are only interested in what you have and in turn this is affecting people. We know that making profits always do not happen but it is mostly mixed. It is good when we have other means that avoid taxations if is nit going to affect us in a long run when we are finally caught.

My opinion may sound off to some people, but then, we all are entitled to our different opinions after all.

I honestly do not find anything special about gambling with crypto when it comes to taxation, the benefits I find with gambling with crypto is the easy and fast deposit and withdrawals, fast winning settlements and so on.

And this is because, when it comes to taxation, winning in crypto can still be taxed same way fiat is taxed, if it's not yet happening, that does not mean it will never happen, with regulation coming to cryptocurrencies in general, rest assured that soon, even winnings in crypto will be taxed.
And for some other countries, if crypto winning is not taxed, then the player will still have to pay it when he or she exchanges the crypto to fiat and withdraws it to his or her local bank account.

So honestly, I think the issue of taxing is not something we can completely run away from, most especially those who live in a much more developed countries where technology have improved so much, the sooner we have it at the back of our minds that crypto winnings will one day be taxed, and prepare ourselves for it, the better and easier it will be for us when it starts happening.

Not really as far as I know before a gambler get taxed, the gambler will report his gambling expenses and profit.  If the person is in a loss, the government will not tax this gambler thus the tax exemption is applied.  And I believe this is also true in business, before they get taxed, the report should state that the business is in profit.

The government is not that heartless, they only tax the net profit of a person, the only exemption is those people who won the lottery jackpot.


Tax as I believe is done annually, so a person need to pay for an auditor once a year.  I don't find any country that tax their people everyday (except for VAT on the items we bought).

Sometimes we are a little confused, because to play on a safe gambling platform, which has a clear permit and license, then to be able to play there, we will be taxed quite a bit too. But when we are desperate to gamble on illegal gambling platforms, then this will only bring us closer to a loss. Because the illegal gambling platform does not have clear accountability to each visitor. And it is possible that we will lose some money when making a deposit.

And to prevent this, we inevitably have to play gambling on official gambling platforms that have permission or license to establish a gambling platform. And the question is, why does the government continue to increase the tax value for gambling activities to be higher? The government does this so that they can continue to control gambling activities circulating in the community in the hope that community involvement in gambling can be reduced. Because at this time gambling activities are quite popular and many also experience problems of addiction to gambling. So the steps taken by the government to overcome this, is to increase the price of taxes, with high taxes, the affordability of the community to play gambling decreases.

How government are cheat the citizens by gambling site? a gambling site manage by a private company so here your all losing money got that company not government. and on the other hand if you win the gambling you got huge return will you give any tax to government or that site then? then why you expect something return when you loss on gambling?

Lol.. I did not find any logic in your statement.  You know that gambling has both win and loss so why do you gamble?  You are willing to gamble knowing that you have to take full responsibility and accept the loss.  And the government taxes you on the income and doesn't count your gambling winnings. So why do you think you should get some return after gambling losses?

They only cut taxes on major prize won such as lottery, slots and so on which the amount is huge. Casino doesn’t tax any bets made on their platform since the player should declare it voluntarily to their audit for taxes.


It’s the gambler problem anymore about the general stats of their bankroll but most of the grand prized from national gambling games is automatically deducted by taxes. It’s part of gambling though.

I agree with you here and that will be equitable for gamblers because they also lose, and when that happens they are suppose to be repaid. Or if not in full percentage of the lose at half like 5% will also suffice. Gamblers who reside where there is taxing regime are not treated fairly and that could lead to tax evasion because when you lose you are not happy, and a serial loser is such in a disadvantage than he who makes profit at least. So I think they need to visit such gambling law.

I don't know regards crypto casinos, but I see this happening at the national lottery prize and I think the lottery should be forbidden from announcing a prize that doesn't correspond to the final liquid prize, once all the taxes are deducted from the total sum of money. However, since it's the government which is behind it, they are totally allowed to lie and deceive, as they wish. Anyway, it's really a shame that it works like this, even more because the taxes aren't low. They stay around 30% of the prize, besides some extra taxes which are also deducted on the process.

I honestly don't understand why governments keep persecuting gambling by placing absurdly high taxes when gambling is a form of fun, I agree that the casino owner owes taxes, but it should be a fairer tax amount, something like 14%. Let's see what happens when people go to buy beer and consume it at home or in bars, people look at the price of beer and pay for the price they see, the price of beer already includes tax. So why don't they do the same thing in gambling? Why when people buy a lottery ticket doesn't the ticket price come with the tax? For example, if a person buys a lottery ticket for 1$, then this 1$ must already include the tax value, so if the person wins, for example, 1 million dollars, then that person would take the entire 1 million dollars. This thing where someone earns 1 million dollars and then when they get paid they end up with $500,000 just because 50% of it was tax, it's wrong. the profits of large companies, the profits of banks are not deducted 50% for tax. At least I haven't yet read in any news that a bank in some country made a profit of 1 million dollars, for example, but only kept $500,000 because it had to pay taxes

In my country, when people win the lottery prize, they receive 100% of the value of the prize, no taxes are deducted from them, at least in that part I think that the government of my country is very correct, I don't know how long it will be like this, but For now, this measure is very good, but the value of the maximum prize is very low, it does not make anyone rich, a millionaire, unlike lotteries in other countries. In my opinion, the lottery owners in my country are getting very rich, because many people buy tickets, it takes a long time to find a winner and when there is a winner, the prize is not a lot of money, you can't even buy a decent house . at the end of the day and a scheme to make lottery owners rich

Are you suggesting that gamblers pay taxes immediately when they make a deposit? I doubt that anyone will agree to this. The fairest and most appropriate solution is for only the casino to pay taxes. For a casino, this is a normal business that brings in regular, predictable income, but for a gambler, winning is a rather rare thing (if we are talking about the fact that winnings exceed spending on bets).

You might be surprised if I told you that in most, if not all, cases, the winner does not have the ability to use those profits before being subject to tax.  Currently, most of the companies controlling the market are active outside the framework of the laws regulating the sector.  The relationship of trust alone is what guarantees the exchange process between the two parties. The state either considers the profit illegal and confiscates the entire amount, or considers it legal and takes a quarter of it as a tax.  This depends on how strong your arguments are to prove profit.

Many of the gamblers are not ready to pay the taxes for the gambling deposits and withdrew from the gambling sites.If the gambler not win the big money or not able to hold their deposit money,how he able to pay the taxes for the nothing he had earned and loss of the capital investments.So it was need to think by the government to make the taxes for the gamblers for the deposit of the money t the gambling sites.As we know the state collect the taxes for the players and for the gambling sites.So it was look like the double taxation for the single process,if any gambling sites approach the government for this.We don't knowit will works,but if it work we will free from paying taxes to the government.

The taxation of cryptocurrency gambling winnings varies depending on jurisdiction. In some countries, crypto gambling winnings may be treated as income and taxed accordingly, while in others, they may be exempt from taxation. It needs to understand the specific tax implications of crypto gambling in your jurisdiction.

While crypto gambling may offer some potential tax advantages, it's essential to approach the situation with caution and consider the regulatory uncertainty, and KYC risks, and potential tax consequences. Explore licensed crypto gambling platforms, diversify your gambling activities.

Well there's not really any legal workarounds for not paying taxes, and imho gambling taxes makes as much sense as other taxes. I am all for taxing as i believe everyone is responsible to contribute to our infrastructure from profits they make. But if you only win $100 or small sums in general, i don't think you should speak with accountants but just do your taxes yourself. Hire an accountant when you actually afford one.

And this is not just crypto gambling but with profits in general. You pay taxes from winning profits, unless you are finnish citizen and gamble insine finland, as we get winnings tax free. But only when it's our govenrment's official monopoly that's controlling gambling in here. If i play overseas online, i need to do taxes for gains as anyone else.