By nature, businesses are taxable, so it makes sense that casinos should be taxed. But in some countries, they also tax individual gambling winnings. That got me thinking, what’s the real purpose behind that? Most of us gamblers are overall losers anyway, so what impact does taxing the winnings really have?
Does it count as an income to the individual gambler? Because if it does then, it’s taxable for real.
Now, I’m not living in a jurisdiction that gets tasked this way but just recently, we have a form of task where every money that goes beyond a certain amount, it doesn’t matter if it’s you having to send this money between your accounts on different banks. So long as it’s above a particular amount, the government takes a a small fee on it. Now this fee isn’t the transfer fee or anything, just a way to fund government purse.
The government is always going to find a way to make some money for themselves and this isn’t exactly about discouraging gambling, just a means to generating funds.