Are Casino Winnings Taxable?

[Ajebo25]

When it comes to paying tax on your casino winnings it depends on the country you are playing from or whether you are a resident or a visitor in that particular country it also depends on the amount of winnings you got that might determine whether you will pay a task from your winnings or not.

Here in Nigeria you don't get charged for any tax on your winnings once you when you can see no game you can withdraw all your money directly to your bank account and it will complete without any deductions countries like united states etc are known for deducting taxes from winnings and even AdSense payments.

 

[Hannman]

We should all actually be happy that Africa only impose tax on the gambling industry and not the gamblers. You can play any way yo like and so go away any amount of money you win from gambling but such is not the case in the Europe, there's a tax impose on any gambler that just win a game especially in the casino industry

 

[Hardexy1]

Taxation in casino winning is based on the country you lived in, here in Nigeria you can withdraw all your money into your account without paying any tax whatsoever, and you can withdraw as much as possible as you like. But other countries have laid down rules like the payment of taxes which are very high.

 

[kayode10]

If you managed to win more than $1000 you are going to pay 24% of your winnings to become part of the but some people are arguing that devotees percentage is for those who win jackpot or lottery.

 

[Sike_lottery]

In developed countries like the United States of America, the taxes are often removed from the amount that you have won but I don't know if it has some level of winnings or maybe all the winnings are taxable.

 

[kayode10]

Definitely you are going to pay a certain amount of money to the government don't you managed to win money from gambling or jackpot. the percentage different country to another between us you are going to pay 24% of the entire area after reporting to IRS.

 

[SlotsMaster]

Casino winnings are taxable in some countries but they are not taxable in every countries. There are some countries that you will not receive taxes on casinos winnings and a typical example of such is Nigeria.

 

[swift]

I think the government of a country are the ones that obviously introduce the taxes , like they have a way of taxing the earnings of the casino players , so the wining is really taxable to some certain extent

 

[Btaliat]

All winning on gambling are taxable except there is no law that talks about taxes in such a country. Where such a law exists, there is need to pay taxable amount on the betting on casino no matter the amount that we win.

 

[Sike_lottery]

Casino winnings taxable in countries like the United States of America and United Kingdom but in some countries casino winnings are not taxable simply because the government are not interested in collecting taxes on winnings.

 

[Julio88]

Depending on the locality within which one gambles, taxes can be applied to wins. In some countries, though, the law is extremely lax when it comes to taxing possible winnings, to be quite honest.

 

[swift]

In my country here , I think the casino wining are actually taxable , I think it's actually introduced as vat , meaning the value added tax , it's actually attached to the tickets after you have actually played the games

 

[Julio88]

In my country here , I think the casino wining are actually taxable , I think it's actually introduced as vat , meaning the value added tax , it's actually attached to the tickets after you have actually played the games

This is good to know. I believe that VAT is at 17.5% which is deducted from your initial stake. However, there are some localities where taxes are not deducted on any form of funds while gambling, to be fair.

 

[swift]

I think cryptocurrency winning for me are actually taxable depending on a lot of circumstances in the first place , there are situations whereby the cryptocurrency investors are actually been taxed more or higher Amount of money

 

[Julio88]

I think cryptocurrency winning for me are actually taxable depending on a lot of circumstances in the first place , there are situations whereby the cryptocurrency investors are actually been taxed more or higher Amount of money

I understand this reply. Cryptocurrency transactions are attached with exorbitant charges and service fees depending on the type of crypto coin used. The casino winnings are taxed somewhat less, to be fair.