Topic: Zimbabwe Votes and Backs 10% Tax on Sports Betting Winnings (Read 601 times)

The main responsibility of the governments of any country is the development of its country. And for this they need money, which is why they make various laws to collect money from different platforms. However, the laws they are making for gambling will definitely discourage gamblers. Gamblers will be more affected by this law. In this regard, if the Zimbabwean government had taken a decision after observing the negative and positive aspects of  taxes, then it would have been better if it was not imposed on gamblers in particular, but rather tried to recover it through gambling platforms. Most of the gamblers lose, which is why if taxes are imposed, the losses will increase further, which can never be a good decision.

Why is it the government's business if their citizens are losing money in gambling? Although I also don't like taxes, 10% doesn't seem too much; it's up to 15% here, and it only applies for withdrawals above €100. What you've said doesn't make any sense. Governments want to make money out of an extremely profitable industry; what happens with the taxation money is something that I do not and can't know. If it's put to good use, I don't think it's too much of a problem. Gambling should be considered a privilege, a luxury; if you can afford risking your money, you can afford a small percentage of it going for taxation. I'm not implying that you should like it, but I personally find it reasonable.

Our loss is not their obligation anymore and if they will have a repayment for it, then it is like we are unstoppable, which is weird. I wouldn't use that as an excuse to evade my responsibility of paying taxes. Apart from using a DEX, what about using a non-custodial wallet? Anyway, not all can afford a 30 percent of tax at most occasions, so yeah, maybe they need to introduce a lower one for those lesser fortunate individuals.

I think most of those who withdrew are winners, especially in gambling, as it is slight different from trading where skills can matter the most. There are also those who withdraw but still down or only breakeven, so 30 percent tax will still be a bit painful for them.

Nothing new on here on which you will really be that definitely seeing government stance on the moment that they've seen something on which they can be able to implement something. Why would be having such scare when the time comes that taxation do happens? Pretty sure that this is seen to be coming specially to those who arent that still taxed industries on which if the government could be able to determine out that it is already that growing then its normal that they will really be taking up some steps that they will really be trying out to benefit into it on which this is indeed on what we are really that somewhat not getting not shocked about government stance when it comes to this manner. Come to think that taxes isnt that bad as long its been used and handled out on the right way.

For the sake of economic development then i dont really see this to be bad. Yes, this might affect out someones mood specially into its owners but we do know on how taxes do works. If those other countries had set out taxes into this industry and having that good economic standing, then why wont the be doing on the same thing? 10% isnt really that too big in comparing to 20% of others. lol. Lets just accept the fact that this thing is inevitable on which we might not be getting taxed by now but sooner or later on which chances could really be that seen and this is something that you do really need up to accept.

Honestly the whole tax system is shit. All countries aren't the same, but in general, the Government is trying to get it all. Almost feels like people should go to work and hand them your check, or not even be paid cause they're taking most of it anyways.

If I had a vote, I would have to agree to 10% as it's way better than what the tax is where I live, but I disagree with it all.

A similar law has already been implemented in other countries like the USA, where the rate is even higher than 10%, and gamblers have no choice but to follow it. However, I believe there’s always a way to avoid paying it, especially since it’s not a tax directly withheld by casinos or sportsbooks.

In Zimbabwe, I’m pretty sure the implementation won’t be perfect. If gamblers want to avoid paying, the best option might be to use sportsbooks that aren’t regulated by the government. That way, the authorities won’t know whether we’re winning or not.

I don't know how Zimbabwean citizens will react to such a law, but if you ask me, it's not really right and proper.
 
Gamblers place bets every single day, and they lose money in almost all their bets, and when they manage to win a little bet, which, if you check very well, out of all that they have wagered in the past, that winning can't amount to it, yet the government will want them to report such winning and remit some percentage of that amount to them as tax.
 
This is just daylight robbery when they can tax the gambling industry themselves for each money spent on their platform by their citizens and leave those gamblers out of this because this money will still, in one way or the other, come back to their economy.

I even agree that it would be fair if this charge were applied only when the person is going to make a withdrawal.

At this point, the casino must calculate everything the player has already invested (put money into the platform) and how much he is withdrawing...

So, the tax should only be paid on the profit in this operation and never on an isolated gain in a single bet... that is really unfair.

If it were done this way, I think the tax would be very fair.

Another way would be to charge a fixed tax on all and any money that is deposited into the platform. But then, no more tax should be charged during the bets (whether winning or losing) or even during the withdrawal, since it was already charged at the source.

Most gamblers lose on long term and the few lucky winners who manage to make decent profit at some point have to pay taxes to the government. Curiously, if you are immersed in poverty and misery without a job or income for your survival, the government does nothing, but as soon as you manage to have some financial success in life, there comes the government hungry for taxation. It's not fair and it's not legit in my opinion, but the government owns us in the end...

What we agree or disagree doesn't mean anything for the government. They enforce the laws and rules through judiciary system, which is highly rewarded financially by this same government to persecute common citizens through taxation.

The example of Zimbabwe is actually not that bad. There are countries setting much superior taxation percentages.

This is where they are getting it wrongly because they don't value their citizens. But wait a moment, does this applies to all crypto casinos or only landbase casinos?
Sometimes decentralized casinos could help in the country where their government impose law. I mean a web3 casinos were the gambling operators do not ask for kyc as I believe through kyc government knows or monitor the numbers of people who interact or signed up through that platform (I could be wrong or right).
Anyway, a country like Zimbabwe where their currency is extremely poor aren't meant to be too hash on their citizens as I believe that is extortion to the highest level.

10% tax is way too much for trying to help people overcome the problems of gambling, one of the highest corrupt government sectors is the financial sector where tax belongs, just as you have rightly said, government officials are full of fraud and most of time's, taxes never get to the right accounts, I have seen in some cases where tax officials generate their on tax receipts and issue it to collect tax, all that money is diverted into their pocket, so when it comes to collecting taxes to solve a problem as critical as gambling problems, that means the solution is quite far from reaching and we have to face the reality of the day, which is government officials using any possible means to scam, siphon and embezzling public fund's.

The fact that the government will charge a 10% tax on winnings is understandable to me, but will the amount that the player lost earlier be added to the final calculation? After all, it may happen that a player has lost $200 and then won $100, and how will taxation be conducted in this case?

I think the government sees the problems that gambling is creating and is doing what they can to raise funds to deal with those problems.  The overall idea is an honorable one.  However, the problem lies in that same government being full of fraud and waste, so none of the money they raise will actually go towards fixing anything.  They'll just keep lining their pockets and begging people like MrBeast to help them.  Unfortunately, as evidenced from MrBeast's African helper that was murdered last Monday for her car (I believe that's the rumor), sometimes just giving people handouts can go bad, and it usually does.  The governments in Africa really need to get it together.  They can't cry poverty and unfairness forever.

They are carried away with the rising popularity of sports betting and gambling entirely and instead of creating regulations for the gambling sector in Zimbabwe, they are shifting focus only on sports betting winning alone, most of them making such laws don't even know what betting is all about and how hard it is to predict the games, the only time and thing that get the attention of the government is a few winning that comes in form of the jackpot, like last time two guys won sports bets to the tune of 160 millions of my local currency, winning like this can catch the attention of government officials thinking that such winnings are frequent and easily achieve.

The tone may know how every country always has a large tariff for gambling activities that is not a strange thing in the ear, this is because gambling is an easy activity and with a large financial circulation as well as a big impact on the community, especially those who have losses, perhaps Here the government takes part of the advantage of development through tax for community infrastructure, actually a lot if we talk about the flow of funds where, but maybe what makes you upset is why it is done for gamblers whose victory is even rare, this is a way for the government can get income from gamblers' activities for the benefit of the country.

Gambling is not good for poor people and can never be a good thing. Taxes on gambling is not a means of oppression for the poor by the lawmakers. However, it is only natural and from experience that where other indicators that could improve the financial well being of these poor people who live on less than a dollar a day are missing, they will turn to gambling a means to generate income for themselves. On this premise, my inference is while taxation on gambling winnings is good, the government and lawmakers should not neglect other key areas for human capital development.

It's tax directly on the winnings, no matter what taxes you pay or how much you have won, winnings are taxed at the source, the bookie.


Sorry, but people struggling in poverty should be the last ones to gamble, let's not act like this is something meant to oppress the masses, every Western country has some form of taxation on gambling and everyone here asks for limiting gambling and gambling adds, saying that in Africa gambling is magically good for poor people is just wrong.
Seriously, I see a tax on gambling wins the last thing the poor should strat protesting against.

That's about right, i know i have read in the news about hyperinflation in Zimbabwe and how corrupt and clueless their government is, but i have not spent any of my time digging deeper into it. Like i said, if tax is put to good use, then it is a good thing, but on the backdrop of what you have just said, i believe you are right, the tax will simply find its way into the pockets of politicians, so the gamblers over there have every reason to feel hard done by.

Honestly, I don’t get what’s going on in the heads of government leaders when they decide to tax sports betting winnings. I mean, most of us aren’t even winning regularly, and when we do get lucky, they still want a cut? And 10% is no joke, especially for big winnings. Is this their way of discouraging gambling, or are they just trying to squeeze more out of us because they’re not content with the revenue they’re already raking in from income taxes and sportsbook operators? Feels like a double whammy either way!

The 10% Tax is really much if we consider the aspect that those gamblers also ends up losing a lot of money if they lose their bet. Since it was just a new law being passed, they would have started with as low as 1-2% but the stated 10% is too much and can make a lot of gamblers to rather focus on crypto online casinos or bookies.

The government don't seem to care about the losses of the bettors, they only want to reap from the lucky winningwinning but what they don't know too is that they will cause lots of these educated gamblers to evade the tax but looking for an alternative.