When planning your vacation, searching for a city to establish your shiny new casino, or simply want to know which the best country is to become rich through gambling. There can be a lot of information out there. And a lot of the info is old or outdated. So, we have gathered vital information from all over the web, to provide you with a guide to the world’s gambling tax rates.
Countries with the Best Tax Rate for Individual Players
To find the best rates for your casino gambling wins, you might have to hop on a plane and pack an extra outfit. If you win big in these ountries, you can take home the whole prize!
Finland has a 0% tax rate for individual players who win. But for a land-based casino, they must pay 10% of the gross revenue.
Austria has a 0% tax rates for all players. However, they can charge anywhere from 10 to 85% to all land-based casinos.
Luxembourg has a unique way of taxing their players. Only winners who make money are taxed. Luxembourg does not tax those who cannot generate profits at gambling.
The UK does have a 0% tax rate for players, but it does tax casinos at 15%
The Czech Republic (if you ever decide to travel there) does not tax players so you can keep all of the money that you have won. Enjoy their beer while you are there; I heard its delicious!
Countries with the Best Tax Rate for Online Gambling
If you love not leaving your house, then you have to go to try online gambling. And if you are in one of the following countries below, then you have an even better shot at keeping all your winnings!
Grab a coffee and head back home to jump in bed! Online gambling is only taxed at 25%. Compared to the average taxes that come out of an Italian’s salary, we say that the rate is pretty good.
Portugal is better than its neighbor to the east as it only has a tax rate of 20% for online gambling.
Country with The Best Overall Best Tax Rate goes to:
The Netherlands!
Whether you are an online gambler that prefers to stay in your room or someone who loves the crowds, noise, and atmosphere of a wild casino, you’re both in luck. In the Netherlands, the government taxes the online gamblers and casino gamblers nothing! 0%! Only the casinos themselves are taxed at 30% Oh well, Too bad for them!
So now we have a breakdown of a few countries and how they tax their citizens and the casinos and sports betting services. It is a surprise how many countries don’t tax individual winners or players, as that could be extra revenue for their governments. Maybe the gambling industry in each of these countries became friends with politicians? Who knows? But it is good to know about the gambling tax rate in case you ever win the lottery abroad!