New gambling tax in the next budget

[andy28]

Back in 2017, I was making some decent money on a gaming site where you could play for real cash. When I went to withdraw, I found out I had to pay taxes. They would let me withdraw up to the amount I originally deposited, but anything above that (the profit) required me to fill out some IRS forms. No way I was going to do that.

Luckily I had a mate who also played on the site but he wasn’t making any money, so he wouldn't need to worry about taxes. We came up with a plan to transfer my remaining funds into his account using some "cheats" we found in the game (the site knew about these cheats, which was one of the reasons I wanted to leaving). Once the money was in his account, he sent it over to me via PayPal. After that, he emptied his account and closed it.

There was no doubt in my mind he'd follow through with the plan as he was sitting on my couch when we figured it all out

[JohnT]

I doubt they'll tax Betfair winners because it would bring in so little.

They could increase the current rate of betting tax.

[Euler]

Wonder if they will consider something on Casino and similar games?

https://www.theguardian.com/politics/20 ... c-finances

Any how, I think anybody could become a Labour chancellor, tax and spend, tax and spend, tax and spend, tax and spend, tax and spend, tax and spend, tax and spend.

[jamesedwards]

Wonder if they will consider something on Casino and similar games?

https://www.theguardian.com/politics/20 ... c-finances

Any how, I think anybody could become a Labour chancellor, tax and spend, tax and spend, tax and spend, tax and spend, tax and spend, tax and spend, tax and spend.

I could see them going for this. Gambling has been demonised in the public eyes and it's an area they can hit without creating too many negative waves. Who's going to complain that the "evil" bookmakers and casinos are forced to contribute more towards the public coffers.

[Michael5482]

Wonder if they will consider something on Casino and similar games?

https://www.theguardian.com/politics/20 ... c-finances

Any how, I think anybody could become a Labour chancellor, tax and spend, tax and spend, tax and spend, tax and spend, tax and spend, tax and spend, tax and spend.

Be absolutely devastating for British horse racing IMO with the betting levy still to be negotiated.

[Michael5482]

Flutter share price dipped 8.8% after the Guardian story on Friday along with racing now coming out and sounding the alarm.

https://www.racingpost.com/news/britain ... x67J2jgcQ/

https://www.racingpost.com/news/opinion ... CD2w5D6ia/

So 3 billion from gambling and decimate the 2nd biggest sport in the country, 1.5 billion from pensioners kill few over winter to get them off the books and Labour are still about 17.5 billion short.

[Archery1969]

Flutter share price dipped 8.8% after the Guardian story on Friday along with racing now coming out and sounding the alarm.

https://www.racingpost.com/news/britain ... x67J2jgcQ/

https://www.racingpost.com/news/opinion ... CD2w5D6ia/

So 3 billion from gambling and decimate the 2nd biggest sport in the country, 1.5 billion from pensioners kill few over winter to get them off the books and Labour are still about 17.5 billion short.

Throughout history, governments only need to care about the majority, as the majority combined can remove them from power. They don’t and never will care about the minority. Obviously, everyone is equal, regardless if it’s 1 or 1 billion but in reality, the 1 is insignificant.

[Archangel]

Depends on the attitude of the government to gambling. If they want to destroy it they can tax it into oblivion

[Michael5482]

Depends on the attitude of the government to gambling. If they want to destroy it they can tax it into oblivion

I have absolutely no doubt our Government would sell out a great British pastime and our horse racing heritage for a few quid.

[greenmark]

Wonder if they will consider something on Casino and similar games?

https://www.theguardian.com/politics/20 ... c-finances

Any how, I think anybody could become a Labour chancellor, tax and spend, tax and spend, tax and spend, tax and spend, tax and spend, tax and spend, tax and spend.

I could see them going for this. Gambling has been demonised in the public eyes and it's an area they can hit without creating too many negative waves. Who's going to complain that the "evil" bookmakers and casinos are forced to contribute more towards the public coffers.

We have the highest taxation since after WW2. Can't lay that at Labour's door.

[Michael5482]

Wonder if they will consider something on Casino and similar games?

https://www.theguardian.com/politics/20 ... c-finances

Any how, I think anybody could become a Labour chancellor, tax and spend, tax and spend, tax and spend, tax and spend, tax and spend, tax and spend, tax and spend.

I could see them going for this. Gambling has been demonised in the public eyes and it's an area they can hit without creating too many negative waves. Who's going to complain that the "evil" bookmakers and casinos are forced to contribute more towards the public coffers.

We have the highest taxation since after WW2. Can't lay that at Labour's door.

Why not?

Could cut the foreign aid budge by 50% and deport all illegal immigrants and save circa 10 billion, force people on benefits into work (the ones who are staying on benefits because it's not financially viable to work) by increasing the tax threshold to around 16k-18k but their choosing to tax British people/businesses by the sound of things, these are choices made by the present Government and can be layed right on there door.

They own the state of the country and actively campaigned in an election to be in charge so to turn round and say it's not our fault when they're making the decisions doesn't hold any water. They've had 14 years to prepare so they don't have any excuses really.

[Emmson]

Wonder if they will consider something on Casino and similar games?

https://www.theguardian.com/politics/20 ... c-finances

Any how, I think anybody could become a Labour chancellor, tax and spend, tax and spend, tax and spend, tax and spend, tax and spend, tax and spend, tax and spend.

Labour tend not to be OK with crumbling public services, it was Tories who led us to this almighty mess not Labour.

As you never miss a chance to bash Labour and are silent on Tory mismanagement then you must deem the years 2010 to 2024 a roaring success for Blighty.

[Euler]

Labour was ousted from power after the 2008 financial crisis, and the Conservatives after the Pandemic and War in Ukraine. Neither were to blame. The public always blame the government for whatever is bad.

I'm just not a believer in big government, whoever they are. If you give freedom to individuals to make their lives better, they generally do.

Governments tend to get in the way of companies and individuals. Yes, they need to perform key things for the country, but beyond that it's just overreach.

[Fugazi]

Depends on the attitude of the government to gambling. If they want to destroy it they can tax it into oblivion

I have absolutely no doubt our Government would sell out a great British pastime and our horse racing heritage for a few quid.

That's pretty biased

Its like saying smoking is a British pastime we shouldn't get rid of...

While for most of us on here it is enjoyable, I think for an overwhelming number of people it is probably a very negative experience.

[Euler]

While for most of us on here it is enjoyable, I think for an overwhelming number of people it is probably a very negative experience.

Life is a negative experience for many, doesn't mean we should end it.