Top 3 Places Where Casino Winnings Aren’t Taxed
Many people enjoy playing casino games and are not hesitant to spend a hefty amount of money. But have you ever wondered where you could go to play and not get taxed at all? No tax means that you can take more money home! Doesn't that sound great? In this article, we will be discussing the top three places where casino winnings don't get taxed.
Tax-Free Gambling Countries
There are 16 countries that do not tax gambling winnings including, Austria, Australia, Belgium, Bulgaria, Canada, Czech Republic, Denmark, Finland, Germany, Hungary, Italy, Luxembourg, Malta, Romania, Sweden, and the United Kingdom. Most of these countries have been operating casino establishments for decades, some even centuries, and have changed their laws numerous times. Casino operators are the ones who pay for taxes with some basing their gambling taxes on turnover, net profit, or player loss.
Regarding the online gambling tax, the countries that are exempted are the following: The United Kingdom, Canada, Germany, Austria, Bulgaria, Australia, Denmark, Italy, Sweden, Malta, Belgium, and Ireland
Top 3 Places Where Casinos Aren't Taxed
– The country owns an impressive number of casino establishments all over the world. Austria currently operates a dozen casinos within the country and is also considered the most significant taxpayers. Even their online casino winnings do not get taxed. Well-recognized names are the city of Linz, which is the most popular city for anything gambling-related, and Casino Baden, which is the largest establishment.
– The history of gambling in Australia dates back to the 1800s with their love for horse racing. Racing and lottery and poker, are considered to be the games that built the country's favorite pastimes. Both physical and online casinos do not charge tax players for their winnings. The casino operators are the ones who shoulder the taxes, as well as license fees.
– All the players from physical and online casinos will not be taxed for their winnings, and there are currently ten casinos that are accessible in the country. The people of Belgium have known to have been gambling since the early 1300s. Similar to the other countries, the casino operators are the one who is responsible for paying the taxes.
There are many places where one can play and not worry about getting taxed for their winnings. Although it is still imperative to do your research about every one of the casinos you plan on visiting.