Online Gambling could be used to pay for covid problems - page 10.

Reid

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Quote from: rijaljun on October 23, 2020, 03:36:23 PM

What comes to my mind immediately if it was regulated for sure it would require to conduct a KYC which would violated on what most of us like which is Anonymity but we can't blame the government since I think they're just doing this to have some extra source of fund to sustain their economy due to this pandemic.

Yes, my first thought also.
It's okay if it will help. But not, if it will just go to the government officials' pocket.
This will be a discussion about trust. Will they really give the accumulated taxes to the people?
But according to regulation, they must comply especially if their gambling base is in a strict country.
It's a win for the government but I doubt it will be for the customers. Grin

I am just assuming and my opinion could be biased being a gambler. Wink

Yamifoud

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In some countries (even in our country), the government had started imposing taxes on all online activities, and might possible that Online gambling will be included as they know that this involves huge money. Well, I'm not sure if they can fully regulate such activities if a site runs illegally. This is a big challenge this time because as the pandemic hits, more online gambling sites exist, and the sad thing is that many of them are illegal.

I don't think this could help to pay covid problems but this creates a huge problem in the community where scamming rises.

Mauser

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Quote from: Kong Hey Pakboy on October 24, 2020, 04:54:17 AM

If online gambling starts to regulate by the government, so they could have funds to support their COVID problem is an excellent idea because hospitals will not worry about treating their COVID patients. But not for everybody, especially for online gamblers, because it might increase its fees. There are chances for players to limit themselves from playing because they need to save money not to pay expensive fees.

Online gambling as a part of a viable economy and tax payer is doing its part to help the government and provide funds to fight against the pandemic. But saying that online gambling should save the hole economy from going brankrupt is too much on my opinion. There are so many other sectors that can do their part in helping to relief everyone from corona. Just look at the boom on online shopping and on particular amazon. Why are these shipping in more?

yayayo

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Just like what you've said there's a pros and cons when it comes to a regulated gambling sites even though there will be a security for the players
the players personal details will be compromise which we don't like that's why we are here in the first place using crypto to be anonymous.

ya.ya.yo!

ultrloa

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Quote from: iamsheikhadil on October 24, 2020, 04:18:23 AM

I think it might affect players because then the casino would have to actually make more profit to pay up for the government fees, and the only way they can do it is by increasing the house-edge. That will be loss to players in the long run. But the thing is, if the government will be using these lost funds for the benefits of people then I don't see any harm. If I lose big, and the casinos pay some part of it to the government, I'll see it as a tax from me to the government and the government if honest, will use the money for public benefit which is to benefit me only. So it's a win even at loss

Do you think its a good idea to increase the house edge? because for that the interest of the gamblers to play on gambling site will vanish since for sure they will dismay for more higher house edge set on the gambling site and might that is the reason why there business shutdown and go bankrupt. And don't look for the benefits without counting the effect since for sure it will be messy so best to have a proper guidelines which can be fair on the casino as well with the gamblers.

Kong Hey Pakboy

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If online gambling starts to regulate by the government, so they could have funds to support their COVID problem is an excellent idea because hospitals will not worry about treating their COVID patients. But not for everybody, especially for online gamblers, because it might increase its fees. There are chances for players to limit themselves from playing because they need to save money not to pay expensive fees.

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Quote from: iv4n on October 24, 2020, 04:46:13 AM

It's what governments do, first they don't care, when they see how much money is in circulation they will create a set of laws to take their share (or in some cases to take the entire control). It's a force and you can't argue with the force!
I think it's hard to talk about this in general, there're too many countries and every country will create their own rules! Soft or hard rules and regulations, it's yet to be seen, but it will be different for many of us! I doubt we will have some universal rules that can be applied to all the countries at the same time!

Their actions in regards to this is justifiable in my opinion. Tax is the lifeline of the government so it is reasonable that they want their piece of the pie. Contrary to popular belief, some laws from country are inspired by other country's law. If the country believes that it benefits more people when they pass the same law as that country then why not. The problem is that it gets muddled by the internal structure of a certain government by adding or removing some clauses.

iv4n

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It's what governments do, first they don't care, when they see how much money is in circulation they will create a set of laws to take their share (or in some cases to take the entire control). It's a force and you can't argue with the force!
I think it's hard to talk about this in general, there're too many countries and every country will create their own rules! Soft or hard rules and regulations, it's yet to be seen, but it will be different for many of us! I doubt we will have some universal rules that can be applied to all the countries at the same time!

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Quote from: iamsheikhadil on October 24, 2020, 04:18:23 AM

I think it might affect players because then the casino would have to actually make more profit to pay up for the government fees, and the only way they can do it is by increasing the house-edge. That will be loss to players in the long run. But the thing is, if the government will be using these lost funds for the benefits of people then I don't see any harm. If I lose big, and the casinos pay some part of it to the government, I'll see it as a tax from me to the government and the government if honest, will use the money for public benefit which is to benefit me only. So it's a win even at loss

No, I don't think they need to do that they can only give in government a share from their earnings and will not ask for more than their capacity to pay for taxes . Its business no need to ask for too much in tax if they only want is to have help from online gambling thats why they want to regulate it.

Asking too much will result of online casino to lost so I don't think they will push to ask too much taxes .

iamsheikhadil

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I think it might affect players because then the casino would have to actually make more profit to pay up for the government fees, and the only way they can do it is by increasing the house-edge. That will be loss to players in the long run. But the thing is, if the government will be using these lost funds for the benefits of people then I don't see any harm. If I lose big, and the casinos pay some part of it to the government, I'll see it as a tax from me to the government and the government if honest, will use the money for public benefit which is to benefit me only. So it's a win even at loss

molsewid

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Quote from: fiulpro on October 23, 2020, 12:21:21 PM

What do you think ?
Is this essential? Would it affect the online casinos?

It is essential for the government because they need to find more ways to generate more money to fight covid problems.
Obviously, it would affect online casinos. Some gamblers prefer these casinos because they charge low fees. If they add extra charges and required users to pass valid I.D, some players might want to stop using these casinos.

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Quote from: DoublerHunter on October 24, 2020, 02:45:41 AM

Quote from: Wexnident on October 24, 2020, 01:18:34 AM

~snip~
Plus, I imagine that the same rule would still be in place even without the Covid. This probably just gave them a suitable excuse to implement such a rule. Though it isn't exactly without benefits, but honestly, even without it, gamblers would still be quite happy with their lives.

^ But at least through the gambling companies located in EUROPE, their government had to find ways to generate revenue for covid victims.
Probably this is the best way to get fast recovery their economy from the suffering of the economic problems that most countries were experienced. And gambling industries really had useful resources that help to boost economic growth. Nevertheless, since they are regulated gambling there is no way for them not to pay taxes that implemented.

I think that is very wrong and it is not true that there is a gambling platform involved in raising funds for victims of Covid 19, perhaps many are expecting how the current gambling site can help Covid victims by providing medical devices for medical personnel and also helping for humanitarian action other. There may also be some foundations that do not accept assistance from betting sites which are prohibited in all religions because it can harm themselves and also harm their families, even if you are addicted to gambling, all your assets will quickly run out. However, it all depends on each individual, whether playing gambling is just a hobby or just for fun, there are also those who make gambling their main livelihood.

DoublerHunter

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Quote from: Wexnident on October 24, 2020, 01:18:34 AM

~snip~
Plus, I imagine that the same rule would still be in place even without the Covid. This probably just gave them a suitable excuse to implement such a rule. Though it isn't exactly without benefits, but honestly, even without it, gamblers would still be quite happy with their lives.

^ But at least through the gambling companies located in EUROPE, their government had to find ways to generate revenue for covid victims.
Probably this is the best way to get fast recovery their economy from the suffering of the economic problems that most countries were experienced. And gambling industries really had useful resources that help to boost economic growth. Nevertheless, since they are regulated gambling there is no way for them not to pay taxes that implemented.

swogerino

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In this pandemic time all the governments are trying to get revenue in taxes from almost every business they can think of.The first total lockdown was so bad for many businesses and now the governments want more taxes.Online gambling sure can add taxes but it is not good for us gamblers and our privacy in general.I think crypto casinos should be safe from this law if it is implemented for Fiat casino.

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Guess the government has to somehow pull out funds from somewhere else cause clearly they aren't able to carry the burden anymore. A lot of mixed reactions here, but it would end up in mostly negative reactions from the side of gamblers tbh. mostly due to possibly due to this being a simple excuse for the government to rip off money from gamblers, who are in fact just minding their own business on one side of the world. It's like slamming the door open to a house, demanding payment for some stupid rule that the king decided for the "greater good".

Plus, I imagine that the same rule would still be in place even without the Covid. This probably just gave them a suitable excuse to implement such a rule. Though it isn't exactly without benefits, but honestly, even without it, gamblers would still be quite happy with their lives.

bitcoinisbest

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This will have the mixed reactions because those who love the anonymous would then might not be interested to provide the KYC and their details once law enforces on gambling sites to do it. Also, they would need to pay extra taxes etc as those might get imposed on casinos and in a way sites would charge that from users. For those who are gamble occasionally or in very limited amount might not worry and would be fine as it could not be much concern to them and those are fine with KYC too.

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Quote from: Yogee on October 24, 2020, 12:29:11 AM

Governments have to tread carefully when it comes to tightening regulation and imposing more taxes on online casinos registered in their country.

I think Europe did deep and thorough investigation before imposing this one.

Quote from: Yogee on October 24, 2020, 12:29:11 AM

The possibility of casinos passing off taxes to gamblers in the form of service charges is there. Many players will leave and move on to other online casinos iif that happens.

This is the problem because for sure the Casino owners won't let their income be lessen just because of taxation and the probabilities are always there that it will be passed to the gamblers.

Quote from: Yogee on October 24, 2020, 12:29:11 AM

Governments will end up collecting less taxes from online casinos since players left because of tight regulations and increased service fees.

This is the worst scenario of this government action but i think that desperation is what leads the government from imposing this law.

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Quote from: btc78 on October 24, 2020, 12:15:43 AM

I totally support the government action towards this matter because at least funds will be taken from those casino operators and companies that bagging tons of money from gamblers and pays small amount of taxes.
and besides this is to help people that In need specially this pandemic time that we already knew about How European countries suffers a lot and needed funds to support their people.
in some manners at least the government is seeking for Legit way of taxation and not just suck implementation .

I think there are still many offline and online gambling places that don't provide tax properly and correctly because the government is still difficult to collect taxes at gambling places, because not everyone can get a lot of wins and what will happen if the gambler loses a very large amount much do they have to pay taxes because usually when companies are asked for taxes they will give additional taxes to their customers, because I am sure the owners of gambling places do not want to lose because of taxes.

Poker Player

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That's just another excuse to rip people off. It's like environmental taxes, the ones added to gasoline, for example. Do you think the government spend them to plant little trees? No, that money goes into the common budget and from there they go on spending, which is the only thing they know how to do, spend, spend, spend.

If those taxes are imposed, then, when the COVID-19 crisis is over, the taxes will still be there.

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The article doesn't seem to talk about regulating the online gambling industry to make a lot of money. Of course, legal online gambling sites pay taxes accordingly but there seems to be no plan for a significant increase during this time of COVID-19. On the contrary, there seems to be a tightening on gamblers' spending.

In the UK, the proposed overhauling of its gambling laws would instead diminish gambling tax revenue rather than increase it. The proposed gambling reforms will tighten instead of loosen the existing gambling laws.
In Germany, online gambling, which was once banned, will already be allowed next year but it was mentioned that the step is not in reaction to COVID-19. Furthermore, strict measures such as setting a €1 maximum limit per slot spin and €1,000 monthly deposit limit are in place. Gambling ads will also not be allowed late at night.
In Sweden, amidst the pandemic, the "government called for a mandatory weekly deposit limit of SEK5,000 and curbs on bonuses for the rest of 2020." This measure has caused a significant drop of gambling revenue in the middle of the pandemic.
In Latvia, the government has instead stopped all online gambling as part of the government's COVID-19 response earlier in the year, although the country eventually allowed its operation months later.
In the Netherlands, online gambling has yet to be legalized.

All in all, I would say there is no sign, much less pattern, that online gambling is being used to raise money to pay COVID-19 expenses.

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