What is even more sad is that in many countries gambling taxes are imposed not on the winnings but on the bets themselves. The article mentions Kenya and Ireland as examples.
This is like double house edge. In a casino, the house itself has an advantage either in the game or in the payout if you prefer the odds to be 50:50. But even before winning, your bet is already reduced to the taxes. That sounds a little too much to me.
Isn't fair not to tax the loser and tax only the winner?
Topic: Taxes and regulations kill the odds - page 2. (Read 196 times)
I've said it once and I'll say it again...
I'm in favor of high rates for everything that is bad for the physical, mental and financial health of the population.
I think it's that fair that governments impose high rates as long as these taxes are duly reverted to the population.
But look at other countries that prefer to simply ban gambling altogether, there nobody can have fun and the government doesn't collect a lot of money from taxes, that's cruel.
I'm in favor of high rates for everything that is bad for the physical, mental and financial health of the population.
I think it's that fair that governments impose high rates as long as these taxes are duly reverted to the population.
But look at other countries that prefer to simply ban gambling altogether, there nobody can have fun and the government doesn't collect a lot of money from taxes, that's cruel.
Lol, 90% tax. That's the opposite in some countries I guess as they'll only get a small percentage of the total income while Germany charges 90%, that only means one thing, it's an indirect way to impose a gambling ban, operators will not survive with that kind of tax rate.
Taxes make a huge impact on betting earnings in certain countries while other are relatively free of that burden. Many central European countries such as Germany, France, Luxembourg, Denmark, etc... charge directly to the casinos and other charge to the earnings. For example Denmark will get nearly 70% of the Casino earnings.
https://www.taxback.com/blog/the-ultimate-guide-to-gambling-tax-rates-around-the-world
As you can read, Germany is the most astringent jurisdiction, with 90% of casino earning being paid as tax! The message cannot be more clear: if you want money, go work! You could argue that Italy - tax free - is also sending a message: go gamble, there is not much more to do
On-line is also different per country and some are tax-free if it is online and other make no difference.
I researched this because I hear that a professional poker player from Spain was about to move to Andorra, which is something that may people do when they earn big.
https://www.taxback.com/blog/the-ultimate-guide-to-gambling-tax-rates-around-the-world
As you can read, Germany is the most astringent jurisdiction, with 90% of casino earning being paid as tax! The message cannot be more clear: if you want money, go work! You could argue that Italy - tax free - is also sending a message: go gamble, there is not much more to do
On-line is also different per country and some are tax-free if it is online and other make no difference.I researched this because I hear that a professional poker player from Spain was about to move to Andorra, which is something that may people do when they earn big.
It's a fine linebut yeah taxes kill the worth of gbling a lot. Tax too much and people will just skirt the system, there best bet is to keep taxes low on gambling if they want to keep everything legit.
Even 50% tax from earning isn't acceptable for me, how about 70%, 90%, ohh...that it looks like that we got hack by these people. The government is milking them too much, it wasn't fair. I don't think their reason is to stop gambling as they allow it in the first place. Or they just wanted that gambler to never think about winning or they have to pay for it. And this urges them to move out from their beloved country for that sake.
How I wish they will think it and don't let their people, gamblers to suffer such a thing, in fact, that was their money anyway.
Government doesn't directly tell those business owners that gambling should be banned but instead they do tend to choke them into their necks on imposing 70-90% taxation? How the hell they would survive on that? I don't know if there are gambling business into those countries do still operationalHow I wish they will think it and don't let their people, gamblers to suffer such a thing, in fact, that was their money anyway.
as of this moment despite of those high taxes.
Actions like moving into other country or places just because of that particular reason isn't something new on where there are people
who are really eager on doing that.
As you can read, Germany is the most astringent jurisdiction, with 90% of casino earning being paid as tax!
that's true? so how do casino owners keep profits if they have to pay this high tax? how will casino owners be able to pay workers wages or is this tax amount only applied to online casinos? because a real world casino needs to pay water bill, electricity bill and workers wages and also needs to have money to maintain the infrastructure, if the real world casino pays 90% in taxes they go bankrupt in the same month
Perhaps this casino's are still making profits from online gamblers and maybe there are still a lot of gambling addicts in Germany that's why this casinos continue to exist and willing to pay that tax because they still make huge profits?
Because business wise it's not wise to continue if you are going to suffer huge losses in the beginning. But they are smart, they know that there are individuals they can still trap and they are not going to go bankrupt the soonest.
Even 50% tax from earning isn't acceptable for me, how about 70%, 90%, ohh...that it looks like that we got hack by these people. The government is milking them too much, it wasn't fair. I don't think their reason is to stop gambling as they allow it in the first place. Or they just wanted that gambler to never think about winning or they have to pay for it. And this urges them to move out from their beloved country for that sake.
How I wish they will think it and don't let their people, gamblers to suffer such a thing, in fact, that was their money anyway.
How I wish they will think it and don't let their people, gamblers to suffer such a thing, in fact, that was their money anyway.
As you can read, Germany is the most astringent jurisdiction, with 90% of casino earning being paid as tax!
that's true? so how do casino owners keep profits if they have to pay this high tax? how will casino owners be able to pay workers wages or is this tax amount only applied to online casinos? because a real world casino needs to pay water bill, electricity bill and workers wages and also needs to have money to maintain the infrastructure, if the real world casino pays 90% in taxes they go bankrupt in the same month
Is there even a bookie still operating in Germany? hehe. Sports betting is probably popular with Bundesliga and other top sports there but I do not know how they will survive with that 90% tax.
I researched this because I hear that a professional poker player from Spain was about to move to Andorra, which is something that may people do when they earn big.
I hope he settles any tax due in Spain so he won't be bothered by evasion cases before moving to another country.
I researched this because I hear that a professional poker player from Spain was about to move to Andorra, which is something that may people do when they earn big.
Taxes make a huge impact on betting earnings in certain countries while other are relatively free of that burden. Many central European countries such as Germany, France, Luxembourg, Denmark, etc... charge directly to the casinos and other charge to the earnings. For example Denmark will get nearly 70% of the Casino earnings.
https://www.taxback.com/blog/the-ultimate-guide-to-gambling-tax-rates-around-the-world
As you can read, Germany is the most astringent jurisdiction, with 90% of casino earning being paid as tax! The message cannot be more clear: if you want money, go work! You could argue that Italy - tax free - is also sending a message: go gamble, there is not much more to do On-line is also different per country and some are tax-free if it is online and other make no difference.
I researched this because I hear that a professional poker player from Spain was about to move to Andorra, which is something that may people do when they earn big.
https://www.taxback.com/blog/the-ultimate-guide-to-gambling-tax-rates-around-the-world
As you can read, Germany is the most astringent jurisdiction, with 90% of casino earning being paid as tax! The message cannot be more clear: if you want money, go work! You could argue that Italy - tax free - is also sending a message: go gamble, there is not much more to do
On-line is also different per country and some are tax-free if it is online and other make no difference.I researched this because I hear that a professional poker player from Spain was about to move to Andorra, which is something that may people do when they earn big.
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