Online casino tax? i'm confused..?

[bristimgoo]

Ok, i'm a newbie and i don't really know the answer to my question.

When you gamble online casino, they do tax you at the end of the year with a form send to you right? or is there a limit before you hit that they don't tax you? it is the same as inside a casino?

Thanks 

[ValDes]

Hi bristimgoo and welcome to the AskGamblers forum!

 

I am afraid that no one here (unless we have some tax officer undercover around ) is able to give you 100% correct answer to your question as it depends on your place of residence mainly. 

 

Don't know how it is with the United States, but in the European Union for example, we do not pay taxes over gambling related incomes. Or at least this is the case with Bulgaria... Perhaps some of our members could advice you better upon this.

[Adebisi213]

What Valdes said basically! It differs for each country, so you really need to consult the laws on gammbling income from your specific country. In Holland they have some ridicolous rule right now, where wins above 454 euros are taxed by 29% based on a monthly term. If you lose 10K on the 31st of January, and win 10K on the 1st of February you still have to pay 29% tax over that win of the month February here.

 

That shows the people who are making those laws are not always the most clever type of beings, since most gamblers already lose on the long term - so it's quite unfair at least.   I at least never had a problem with it lol, all I do is lose. Even when I win I keep on going

 

Only wins at state casinos and state lotteries are excluded from taxes here.

[LordCronal]

I think that Finland has same system like in Bulgaria that gambling related incomes are taxfree, if those come from EEA-area.

http://en.wikipedia.org/wiki/European_Economic_Area

[cocopop3011]

Ok, i'm a newbie and i don't really know the answer to my question.

When you gamble online casino, they do tax you at the end of the year with a form send to you right? or is there a limit before you hit that they don't tax you? it is the same as inside a casino?

Thanks

 

Would you like to share which country in particular you mean barista goo...maybe one of the boys would be willing to look it up for you?

[LordCronal]

If you live in EU or Norway, Liechtenstein or Iceland, then I think that we have answered already.

[Toiletseat]

What Valdes said basically! It differs for each country, so you really need to consult the laws on gammbling income from your specific country. In Holland they have some ridicolous rule right now, where wins above 454 euros are taxed by 29% based on a monthly term. If you lose 10K on the 31st of January, and win 10K on the 1st of February you still have to pay 29% tax over that win of the month February here.

 

That shows the people who are making those laws are not always the most clever type of beings, since most gamblers already lose on the long term - so it's quite unfair at least.   I at least never had a problem with it lol, all I do is lose. Even when I win I keep on going

 

Only wins at state casinos and state lotteries are excluded from taxes here.

Hi Adebisi,

As you see I am dutch resident also. I've a question for you. How can our beloved national taxdepartment tell if you won at an online casino? Because, to be honest, I had a few wins over 454 euro, and unfortunatelly I wasn't able to pay even a single dime for taxes. Did they forgot about me, or is it the player's responsibility himself to declare the winnings? If the last is the case, I would be terribly sorry    ,

You are absolutely right about these ridiculous tax- & gambling laws. You are safe as long as you are depositing, but be carefull when you withdraw. And best of all: online gambling is still illegal in our homecountry, but if you win they want a piece of it.  Needless to say, I've my own 'methods' to withdraw and I am hoping to  avoid any tax issues this way.  I've read in the media that there are some changes to be made. Appearently the Taxdepartment is trying to agree with online casinos to pay a certain winning tax amount before the player gets his winnings paid.

Best regards,

Seat

[Th3 Runn3R]

best way to not pay your gambling tax is just to play at land based casinos, with cash. if you are a lucky one, you will walk out the casino with a big bump in your pants (that will be a roll of cash of course)

maybe a little bit awkwardness while walking but then again who cares?

[ValDes]

Hmm, this thread is not about "Not paying taxes" but "How, when and whether to pay taxes" when it comes to online gambling!

[Irine]

Yes, It depends on your country's law of tax gambling. It's important to check it before you play an online casino to avoid problems. 

[Adebisi213]

Hi Adebisi,

As you see I am dutch resident also. I've a question for you. How can our beloved national taxdepartment tell if you won at an online casino? Because, to be honest, I had a few wins over 454 euro, and unfortunatelly I wasn't able to pay even a single dime for taxes. Did they forgot about me, or is it the player's responsibility himself to declare the winnings? If the last is the case, I would be terribly sorry    ,

You are absolutely right about these ridiculous tax- & gambling laws. You are safe as long as you are depositing, but be carefull when you withdraw. And best of all: online gambling is still illegal in our homecountry, but if you win they want a piece of it.  Needless to say, I've my own 'methods' to withdraw and I am hoping to  avoid any tax issues this way.  I've read in the media that there are some changes to be made. Appearently the Taxdepartment is trying to agree with online casinos to pay a certain winning tax amount before the player gets his winnings paid.

Best regards,

Seat

 

On 1 January 2015 a new gambling law will go in effect in Holland. However, it's still unsure which online casinos will get a license for this and how everything works regarding taxes and the way they try to monitor and stop gambling addiction. I just hope they build a player-friendly model where winnings are tax-free or just a much smaller tax percentage, just like it is in Holland Casino and the Staatsloterij.

 

Right now the whole system doesn't make sense at all and is quite ridicolous. But I guess it's all just meant to prevent people from gambling online for now. Tbh I don't think they can tell if you won anything as long you don't withdraw major sums +7500 euros to your bankaccount, and maybe use ewallets instead.