Is it only the UK that don't pay taxes on gambling?

R

RamdeeBen

Legend
Silver Level
Joined
Aug 9, 2010
Total posts
7,745
Chips
0
I'm going back years now but we used to pay tax on the horse racing then it was abolished, must be 10years + now.

Now, I see most countries on this forum go on about what they should do about small winnings and so on, should they inform the tax man and the whole story surrounding Isildur1 and sweden having 50% tax laws, is that TRUE? If so, that is so obscene..

Now, being from England I've not paid tax on any sort of gambling for like I say 10years and just wonder how many countries are like the UK?

I'm just about making slight money in poker recently but couldn't ever imagine paying taxes on something I'm struggling to even build a bankroll with! How do you micro grinders deal with it? I'm not sure If I'd want to personally play the micros if paying taxes! Sounds so sick, maybe it's because I'm not used to paying taxes on poker...


Just a general insight would be nice and would love some comments from people.
 
TheKAAHK

TheKAAHK

CardsChat Elite
Silver Level
Joined
Feb 2, 2009
Total posts
5,278
Awards
8
CA
Chips
863
My guess is most micro players do not calim it as income on their taxes. I have claimed some poker winnings in the past, but have not as of late. Guess it depends on how much you are actually winning. A few hundred here and there, no big deal, but if you're winning thousands regularly I suppose it would be good to report it. Though I'm assuming most still do not.

And a 50% tax is just obscene!
 
chuG

chuG

Rock Star
Silver Level
Joined
Jul 22, 2009
Total posts
312
Chips
0
What is the tax rate in the North America?
 
Related UK Guides: UK Casinos - Mobile Casinos - UK Gambling - Sports Betting - Mobile Poker Related Gambling Guides: AU Gambling - CA Gambling - UK Gambling - NZ Gambling - Online Gambling
Top