Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

Why aren't poker winnings taxable? Or are they?

Options
2»

Comments

  • Options
    #32
    Victor
    Registered Users Posts: 78,375 ✭✭✭✭Victor


    The Revenue Commissioners are of the opinion that losses more or less match winnings, so normally no tax is payable.

    Professional gamblers (in particular bookies, but also other individuals on a case by case basis) do pay income tax on their winnings. They are also allowed set off reasonable expenses (no, not smoking and hard drinking) against income. Gambling is treated as a trade, not a profession.

    As I understand it betting tax can be paid on bets or winnings (that had been the case anyway).

    The lottery is advertised as tax free as not all lotteries internetionally are tax free.


  • Options
    #33
    Hobart
    Registered Users Posts: 4,839 ✭✭✭Hobart


    Originally posted by Victor
    As I understand it betting tax can be paid on bets or winnings (that had been the case anyway).
    Not in Ireland. It used to be the case in the UK, you were given the choice.


  • Options
    #34
    Hectorjelly
    Registered Users Posts: 6,696 ✭✭✭Hectorjelly


    Originally posted by lafortezza
    Do you include home games as well as online and casino live games in that?

    I do keep a rough track of offline spendings but its obviously much harder, but when I play offline it tends to be less often and for much lower stakes.


Advertisement