Casino Talks

Posted by: eek at March 2, 2002, 10:54 am

Topic: regulation vs irs Forum: Winner Online

No teatax yet, but dont tell Tony Blair.

The chances are that to start with, US citizens wont be able to gamble on these new theoretical US licenced online casinos. The tax/legal situation in the US is far too unsettled.(stupid?)
1.Unenforcable cc transactions(judging by a recent case), coupled with a dodgy IRS system would create bad politics ery quickly. Plus you have a big anti-gambling lobby for some reason.
2.It will be easier to 'phase in' these casinos by targeting overseas customers only to start with, and slapping a withholding or even zero tax rate on them.
3.Until 1. is sorted US citizens are stuffed, you'll be stuck with the offshore operators.

If the software is landbased gaming control commission certified, I'll play there, even with a bit of tax. Im getting fed up of uncertified software, and I enjoy my gambling.

eek

BTW Betting tax at source in the UK was abolished only a few months ago. Why? the competition from tax free offshore betting.
Lasseters doesn't allow Aussies to play, but I can play there and collect any winnings tax-free.
If you have to send your gaming transactions to the IRS, and you're only a little punter having a dabble, not a pro making a serious living, then you have a bad tax system in my opinion.
Its swings and roundabouts on tax tho.
I have to pay £4.20 x $1.45= $6 for twenty smokes. cos of tax.

[This message has been edited by eek (edited 03-02-2002).]

[This message has been edited by eek (edited 03-02-2002).]

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