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Poker and the taxman - serious question

BigBlusterBigBluster Member Posts: 1,075
edited October 2009 in Poker Chat

Does anyone know whether online poker winnings should be declared as income for tax purposes?I've heard of pro players being bankrupted for not declaring their income. Strangely, they're not allowed to offset losses against winnings, all winnings are taxable.Is online play exempt from this?
Disclaimer: If the taxman is reading this, I have never won a hand. Not one. Ever. In fact, you probably owe me a rebate of some sort.
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  • Hale72Hale72 Member Posts: 1,000
    edited October 2009
    I always was under the impression all gambling winnings are tax free in this country.(for an amatuer, pro's I have no idea)

    This includes horses, dogs, casino's etc.

    Otherwise William Hill would be in a lot of trouble.

    But shush, don't give the taxman any idea's
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  • Grimstar30Grimstar30 Member Posts: 1,400
    edited October 2009
    Would be impossible to keep track of all figures, i.e. on cash tables. Therefore imo poker players will never have to pay tax on winnings in this country.
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  • BigBlusterBigBluster Member Posts: 1,075
    edited October 2009
    In Response to Re: Poker and the taxman - serious question:
    Would be impossible to keep track of all figures, i.e. on cash tables. Therefore imo poker players will never have to pay tax on winnings in this country.
    Posted by Grimstar30
    If this is the case, then I'm working 70 hours a week to send their kids to school, pay for their health checks, ensure that their air is clean, police their streets.......not sure I'm happy about this.



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  • MereNoviceMereNovice Member Posts: 4,364
    edited October 2009
    I'm pretty sure that ALL poker winnings in this country are tax free.
    It's still classified as gambling after a famous court case a year or so ago about a "gaming" room in London.
    It would be simple to determine winnings in online poker - all poker sites obviously keep records of this.
    Poker winnings are taxable in the US, I think.
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  • MereNoviceMereNovice Member Posts: 4,364
    edited October 2009
    The case I mentioned was lost by the Gutshot Club in London.
    They wanted poker to be classified as a game of skill (predominantly) in order that they would not need to retain a gambling licence for their club.
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  • WildDogWildDog Member Posts: 63
    edited October 2009

    It depends upon where each player resides thats why loads of poker players come and live in the UK to avoid tax on their winnings. If im not mistaken Eastgate got taxed a huge amount from his WSOP main event win by the Russian tax system, like 50/60% if my memory is correct and now he lives here. Kinda like shutting the gate after the horse has bolted lol but hey he will probably win a heap more.

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  • JAMIEPJAMIEP Member Posts: 218
    edited October 2009
    We don't have to worry about tax the yanks and a few other nations have to pay it though.I read eastgate lived in our country before the main event last year to avoid paying tax smart man.
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  • loonytoonsloonytoons Member Posts: 4,270
    edited October 2009
    In Response to Re: Poker and the taxman - serious question:
    The case I mentioned was lost by the Gutshot Club in London. They wanted poker to be classified as a game of skill (predominantly) in order that they would not need to retain a gambling licence for their club.
    Posted by MereNovice
    Your right and the judge decided that it was a game of luck ( who says judges are daft lol)
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  • BeestBeest Member Posts: 5
    edited October 2009
    In Response to Re: Poker and the taxman - serious question:
    We don't have to worry about tax the yanks and a few other nations have to pay it though.I read eastgate lived in our country before the main event last year to avoid paying tax smart man.
    Posted by JAMIEP

    Smart or over-confident?
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  • DAVEYZZDAVEYZZ Member Posts: 1,651
    edited October 2009
    In Response to Re: Poker and the taxman - serious question:
    We don't have to worry about tax the yanks and a few other nations have to pay it though.I read eastgate lived in our country before the main event last year to avoid paying tax smart man.
    Posted by JAMIEP
    i totally disagree jamie,we absolutely do have to worry,this government have brought in hundreds of stealth taxes over the ten years.
    i hasread that they are already looking into taxing poker winnings in some way.it would be easy to tax through a sharkscope type programme...

    cheers dave...
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  • FlashFlushFlashFlush Member Posts: 4,494
    edited October 2009
    Think I would give up poker if we had to. Think of cash games, you have to pay 'Tax' to the poker room/site every hand ur in and to then payout some of the profit you get to the taxman... whats the point?
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  • Kiwini4uKiwini4u Member Posts: 3,830
    edited October 2009
    Whats TAX??
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  • scotty77scotty77 Member Posts: 4,970
    edited October 2009
    The UK wouldn't introduce a tax system, as we have a gambling culture with betting shops on every high street.  It would mean everyone who has place a £10 bet would be able to claim it back.

    And if it classed Poker as a skill game to try and get it taxable, then what about people who place sports bets for a living?

    If there was a workable way to introduce a tax then the government would have found a way a long time ago.

    And a lot or professional poker players will have other business interests where they pay tax on, while also spending their more than average income on goods and services in the country too.  And of course the poker sites/rooms get taxed on the rake that the players generate too, so to the poster who said they are getting a free ride is very much mistaken.
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  • diablo_pezdiablo_pez Member Posts: 1,392
    edited October 2009
    In Response to Re: Poker and the taxman - serious question:
    The UK wouldn't introduce a tax system, as we have a gambling culture with betting shops on every high street.  It would mean everyone who has place a £10 bet would be able to claim it back. And if it classed Poker as a skill game to try and get it taxable, then what about people who place sports bets for a living? If there was a workable way to introduce a tax then the government would have found a way a long time ago. And a lot or professional poker players will have other business interests where they pay tax on, while also spending their more than average income on goods and services in the country too.  And of course the poker sites/rooms get taxed on the rake that the players generate too, so to the poster who said they are getting a free ride is very much mistaken.
    Posted by scotty77
    that's the key point, the net effect would be -ve as their are more losers than winners
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  • MICKYBLUEMICKYBLUE Member Posts: 2,035
    edited October 2009
    the yanks i think banned online poker over the same argument i think.... couldn't decide how much 2 take in taxes lol
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  • MICKYBLUEMICKYBLUE Member Posts: 2,035
    edited October 2009
    im self employed tho any1 no a dodgy accountant????
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  • DeuceAK_47DeuceAK_47 Member Posts: 381
    edited October 2009

    I was always told that they cant tax us for winnings on poker because the winnings on the lottrery is not taxed.
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  • apollo_11apollo_11 Member Posts: 969
    edited October 2009
    In Response to Poker and the taxman - serious question:
    If the taxman is reading this, I have never won a hand. Not one. Ever. In fact, you probably owe me a rebate of some sort.
    Posted by BigBluster
    I am with you on this one. The taxman must owe me a fortune.
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  • MereNoviceMereNovice Member Posts: 4,364
    edited October 2009
    In Response to Re: Poker and the taxman - serious question:
    I was always told that they cant tax us for winnings on poker because the winnings on the lottrery is not taxed.
    Posted by DeuceAK-47
    That's because playing the lottery is gambling.
    The issue is whether poker is considered gambling.
    Currently, thankfully, it is officially classed as gambling.
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  • zxghostxzzxghostxz Member Posts: 482
    edited October 2009

    it must be the same as winnin a bet on the horses. you dont pay tax on the horses why shoud u pay tax on the poker. isent the  rake/ entrance fee  taxin enough. lol

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