Topic: Zimbabwe Votes and Backs 10% Tax on Sports Betting Winnings - page 2. (Read 918 times)

It's pretty much similar to most of the countries and 10% rate is also very fair amount, I. Some countries they have tax ranging from 30 to 50% which is unacceptable. The Zimbabwe is not economically sound country so they are looking for ways to increase the revenue of their government considering all these facts I am not looking it absurd like most of the guys expressed in this thread.

Those who are addicted will continue with their gambling habit. Those who are new, as in seeking to find a way to earn money will get discouraged. It is a known fact taxation does create an opportunity for those who are smart. It does disrupt those who cannot enjoy this opportunity. Those who make money are those who have money, whereas it works the other way for those who seek gambling for earnings.


It is not desperation, it is an option to survive the hardship. While, I am not an individual promoting gambling, I still believe gambling is one of the options to enjoy your life without contacting your friends who are always ready to degrade you, as in yourself.

If the implemented tax doesn’t reduce the number of gamblers or their activities, the government will gain more income. But if it ends up discouraging people from gambling, then their revenue will decrease, and I’m sure they’ve done some studies before deciding to implement it.

As you mentioned, it’s a third-world country, and in such places, people are often desperate to make money even if it’s through gambling, which many see as a risky or “wrong” way.

Zimbabwe is a third world country and people have been using gambling as mean to become rich. But, If you practically think about it only a few win from gambling not all are lucky. This tax might be a way to stop people from getting poor through gambling and it's addiction. I don't agree with your point of view on government getting rich through 10 percent of winning amount. As, I said earlier only a few will win but a majority will lose.

Based on the website statement it is overall within the players wins so still the casinos are the one who are paying with the tax of 10%, now if the casino makes a change so the players will not win on the game its up to them but imagine if the player discover that they arent getting fair to their players still consider them as part of the lose of their summary of earnings. Actually that's quite low instead here in the Philippines afaik they are having a 30% tax to the casino just to operate here in the country.

It is definitely possible to say that this tax looks absolutely unfair and it is just a way for the state to get rich on the happiness of the winners. At the same time, the state does not care that people spend their money on casinos, no one returns 10 percent to them. If I were a gambler and betting enthusiast from Zimbabwe, I would simply play at those casinos that are associated with cryptocurrencies and which, unlike state casinos, do not transfer data on winners to the state.

This law will likely push gamblers to resort to illegal casinos, where the government won’t be able to track transactions, meaning gamblers won’t be forced to pay taxes on their winnings. IMO, this is a wrong move, taxing casinos should already be enough since they’re the ones really profiting.

If gamblers start shifting to illegal gambling, the government’s tax collection could actually be negativel affected.
They might realize this mistake sooner or later, but by then, it could be too late to undo the damage.

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.