How much tax do you pay when it comes to sports betting?

[Ben Kempton]

There are many people who tend to play and win money when it comes to sports betting. However, I think that many sports betting organisations and schemes are actually monitored by the government and the government tends to collect taxes on such kind of schemes and opportunities. So, when it comes to paying taxes, how much taxes do you pay? What is the fixed percentage of taxes for sports betting?

 

[Hardexy1]

In my region betting is free to Play, no taxes is been involved rather than other countries where taxes are been paid on every wining ticket, i think is not even right to be paying taxes after winning your bet

 

[Julio88]

I

There are many people who tend to play and win money when it comes to sports betting. However, I think that many sports betting organisations and schemes are actually monitored by the government and the government tends to collect taxes on such kind of schemes and opportunities. So, when it comes to paying taxes, how much taxes do you pay? What is the fixed percentage of taxes for sports betting?

In my locality, the taxes collected from winnings by government is almost nonexistent. They seem to generate their revenue from the gambling sites and establishments themselves, rather than from the gambler

 

[Hannman]

Maybe this is one no the best thing we are enjoying in Africa. I've heard that you have to pay some certain tax when you win huge amount playing games in Europe. I just know that directly, we don't pay any tax

 

[Julio88]

Maybe this is one no the best thing we are enjoying in Africa. I've heard that you have to pay some certain tax when you win huge amount playing games in Europe. I just know that directly, we don't pay any tax

This is a valid assertion. Punters in this part of the world are not obliged to pay any taxes on winnings, thus enabling them to cash out the full amount, to their elation. This is actually one of the few subsidies people in Africa benefit from