Post
Topic
Board Gambling discussion
Re: Gambling winnings should NOT be taxed
by
Agbe
on 20/06/2024, 21:09:07 UTC
You don't have to declare it because it is considered a hobby.
wow! This nice confirmation of gambling as a hobby. Because when I created the thread https://bitcointalk.org/index.php?topic=5492454.msg63932181#msg63932181 some people or gamblers disagree with me and I know that any all real gamblers will agree with me that gambling is a hobby.

In the USA and other countries gambling winnings are treated the same as income and gambling companies are required by law to withhold federal income taxes.

If I had to pay taxes I would quit gambling. The risk wouldn't be worth it.

Does your country tax gambling winnings and if so do you declare it yourself or does the gambling operator withhold the taxes on your behalf?
You don't have to quit gambling because of the government tax indirectly collected from the casino company in your wins. And I believed it would not be a big amount. If you win $100 the tax might be $2 or less. So you don't have to quit because of that. My country is also tax free in gambling. And you know US government is very strict with it dealing and they use that taxes to develop the country but my country has nothing to offer to the citizens.