Topic: Nigerian Government plans to begin taxing gambling. - page 4. (Read 2256 times)

If you check very well, you will notice that some of those casinos that are even operating like that have back ups. They could have connections or internal relationship with some upper hands in the government and if they should face any problem, those government personnel they have can defend them.

Taxing your winnings might be quite unfair on your part, that's probably the reason why most gamblers do not agree with it. But just think of it, instead of seeing all those money going into the casino owner itself, it's better if some of the proceeds will also be benefited by the government, by the people's welfare so that it will also create something useful and helpful that will be benefited by the country. This is also one way to lessen money laundering wherein gambling is proven to contribute a big part of it.

It's the same in our country, such taxes aren't really put into good use but into the pockets of the crocs. It's sad that the developing countries have inept officials that instead of helping people, they're putting themselves first and forgetting to help why they're being elected and put into their positions.

I am a Nigerian, and let me say that this is the very first time I am coming across this news, it's not surprising to me any ways, and this is not because I was expecting the government to come up with such thing as taxing gamblers, but it's because with the present government ruling Nigeria, it's never a surprise for me for what ever policies they decide to come up with.

I personally see no problem here, like you said, if the taxing becomes an issue to anyone, he or she can simply switch to gambling on crypto supported casino with cryptocurrencies.
And for those who are gambling for fun, gambling is not a must, if someone who gambles for fun begins to find it hard to continue to gamble due to tax, he or she can either stop gambling, or look for another way to gamble tax-free, it's that simple.

Sadly, Most of the government including the first world country has corrupt government officials. Corruption is worst on 3rd world country since even the government body that facilitate the investigation for corruption is accepting payment. So I doubt tax from gambling will be well spent on this case.

On the hand, the main point of OP here is the Nigerian gambler will now use crypto to gamble since it’s still not taxable. I doubt this will work long term since government will target crypto casino later if they knew that it was being use as an alternative for gambling just to avoid taxes.

Am a Nigerian. Since the present government takes over the mantle of power, it has been from one tax to another, to destabilize the citizen's hustles by creating unnecessary hardship towards any means of survival they choose.

However, the taxes and hardship hovering in Nigeria didn't start today and I don't think it's ending today anyway. But this present government the hardship and taxes it has created, it's very disheartening. This is the worst of it all that we have seen so far: everything in the country has tripled in price, making many Nigeria lavish in poverty that many families can't live up to three square meals a day or find a good paying job to match up with the cost of living. This results in many youths thinking of ways to migrate to other countries in search of greener pastures, rather than wasting their time, energy, and resources in a country where its government is implementing rules that would affect the lives of its citizens to circle on hustling what they and their family would only eat for the day not to build anything meaningful or enjoy life. To enjoy life in the country, your guardians should be politicians or your family members are overseas sending your money.

That's what the country called Nigeria is like currently. But I do trust Nigerians to be survivors in any given hardship they face. They are going to come out strong of it, by doubling their hustle. It will be somehow difficult, but victory is sure. We survived in the last government, we are going to survive in this present one.

So that needs awareness from the government to monitoring gambling and the effect of playing gambling for their people. They can not make the bill and leave it like that without evaluating all things after that is apply.

The government should know that playing gambling excessively can makes their people bankrupt and the worst thing that their people will get are addicted to gambling. That will be a big problem if most people become gambling addiction so the government should think to build a rehabilitation for gambling addiction besides of drug addiction and other addiction.

It is a work for all element in that country to support the bill and give awareness about playing gambling excessively so people can stay away from that. Moreover, people should not use gambling as a means of source of income.

There are many signs that show that Nigeria will never be a better place, and this is one of them, some countries rely heavily on taxes from casinos, I heard that casinos both online and offline generate incomes more than many big businesses in the world today, this is why the U.S will never block the income stream from gambling for the sake of anybody, if you get addicted or lose your life, many citizens will keep benefiting from gambling, either by winning by themselves or their government feeding back the public using the tax money from casinos.

And like youve said, Nigeria government will never use the money for anything good, they will prefer to share the money among themselves, the problem with Nigeria is the Nigerians, even if they are rotating every citizens in Nigeria one after the other they will do the same, I am not bad mouthing this country, sadly it is just what it is.

Nigeria should be one of the biggest holder of Bitcoin as we speak, because of their excess in oil and mineral, they feed other country a stable electricity, meaning they can power Bitcoin mining and make a better country in a matter of 10 to 20 years time, but it seems this is a curse on the country, because everyone seem the same in Nigeria.

Unfortunately Nigeria, as one of third world countries are full of corruption. With the current technology that already advanced, many people can now work from home, making them able to make more money than before. It's impossible if there are many countries not become developed countries, since the government collect more tax than before and it should be enough to upgrade and improve the infrastructure.

You are obviously right about that because that has been the method of the government, they would try to establish something by just merely saying it to see if the people will respond negatively or not, though for now they are scared of announcing or bringing any new update that will have an effect on the people because right now they have already known that the people are not happy with them so they are very careful. However about the security livy i was fully aware about the development and it was good that everybody was able to react to it if not it would have been implemented and start functioning and we all no how things work here that so long as is benefiting the government they careless about how others are copping about it.

Taxes is a way for the government to sustain the growth of their economy and keep it running, all government must do taxes because they need it, now if your government is not corrupt then all these taxes will go for the services of the people and improving their lives, and the gambling industry since its generating huge revenues are always looked into for taxes.
It depends on the gambler if he wants to gamble in a traditional way or go online to gamble on cryptocurrency-based casinos, its his preference where he is comfortable the most.

Taxation and regulation needs to be fair as well, so it would not feel as some kind of economical harassment against gamblers, specially those who have had good luck and pocket some money. There are countries in which people are not taxed for money won by gambling and those administrations rather to tax casinos, as the businesses they are. Since Nigeria is an empoverished nation where gaming has become endemic and widespread, the national government is supposed to impose a minimum income tax on gamblers who win money and focus on the bookies and agencies, as well as other formal businesses,.so each one of them pay a fair share.

I have read there are people who are already surviving only because their good luck in gambling in that country, that is very sad and the only thing someone in such situation needs is more taxes.

If a casino is officially registered in Nigeria, then it is obliged, as well as other businesses, to pay tax in accordance with the laws of that country. So in this case, the introduction of a tax cannot be considered as harassment of business. It is a normal practice to pay taxes in any civilized society.

The current federal government lead by President Ahmed Bola Tinubu is tax oriented and at that alot of tax increase and tax introduction have taken place in the economy, and if a sensitive industry like cryptocurrency could be targeted for tax, then gambling industry which is another growing aspect of the economy will definitely get taxed.

I also believe that majority of the popular casinos around Nigeria are well taxed, so for sure the government coming out at this point to push for more gambling taxation is mostly expected at this point, but just as you said, the high rate of corruption won't make the tax to work effectively for what it is meant for.

I have not even seen any casino or betting site in Nigeria that does not need or request KYC and all the ones I know ask KYC. And as Fiatless said. KYC is not when you write all your information like number, phone, email and uploading some documents but your bank details and your phone number can give the instructions the necessary information. In some Banks and exchanges once you write your BVN or NIN all other details would pop up and you only click continue or next. Only the phone number can be use as KYC because if someone dial the number in true caller itself, your real details will appear.

Let's go back to the topic at hand. If Nigerian government regulate gambling and tax them, it is the players will pay for it because the company will deduct the fee from the winnings.

You are right I can also remember when local casino asked for my mobile number that was tied to my local account, and when sent all my document were reveal just as it's to BVN or NIN , if you have correct details it's tie to them and when this number is required by casino or gambling site there's no other way to request for additional kyc while the details was already coded into that number you sent to them. The only further things that could be required is to go residential address and I think this is not deemed necessary.

If a casino has your bank account and phone, that's KYC. The bank would require nearly all of your personal information before allowing you to open an account. Therefore, if necessary, a casino that has a gambler's bank account can also get in touch with the bank to request additional information. It is simple to obtain personal information in certain countries where a gambler's phone number is linked to their identity. The point I am trying to make is that phone number and account number are enough KYC.

If a customer deposits a significant amount of money into their account, the casino may also request KYC. Usually, this is done to make sure the account has not been used fraudulently or illegally. 

At this very point, it’s so obvious that Nigeria government has nothing to offer to the people, rather they chose to keep oppressing them and looking for way to extract money from the little the make to survive. Not minding the source of this their income.
This are the same government that condemned gambling and is trying to put a stop to it. While others in the north are already taking actions towards bet shop owners. Some are planning of enforcing taxation on gambling.
Is it not obvious the government not being so selfish, has nothing to offer. This are some bunch of confused people who forcing took powers in to their hands without having what it takes to lead a good society and make impact. It’s time the citizens come together and put airside tribalism and religion to fight for what is right.
Even after successful enforcing that law of paying tax. They still won’t use the money for anything meaningful for the citizens. It will end up in their own pocket.

Most of local casino or betting site doesn't need kyc the only kyc much needed is if your real name used in signing up the casino/gambling site correlate with your bank details then it's fine, the kyc is don but in a situation where your bank name and casino signed name aren't reflected then there is need for kyc. But however, local casinos/betting sites doesn't often required kyc to make withdrawal as you already said, mobile number and bank name reflecting to the casino is always a win win for withdrawal, that is for the local casinos. But cryptocurrency casino they all required kyc to make withdrawal and it's compulsory for one to be able to withdraw their funds.

It's good to read that there are people who still pick interest in visiting my country. Back to the local gambling platforms, which I make use of here, unless there is a need for KYC to be passed; if not, since I have been using them aside from the compulsory phone number and email, I have not submitted my private information for verification, although the local bank I use for withdrawal is enough to get whatever information they need from there.