Taxes on online casino winnings

We often talk about how practical and affordable it is for everyone to play online and bet on sports or casino games. But we rarely talk about the technical aspects of the game. Because every bet, every spin in slots is made with a dream: to be able to win a good amount of money.

But how does taxation work on the winnings you receive at the casino? We find out below to finally help you clarify!

How the ADM casino tax works

We talked about the state, referring to online gambling, which is played in virtual casinos. It's good to know that both betting sites and ADM authorized casinos are all realities that have received a concession to operate in Italy. Thanks to the gaming license, the player is immediately informed of full transparency and great respect and protection of his personality. Having made this necessary clarification, we can try to understand how taxation works.

We start with a clear system, which obviously differs primarily depending on the type of game you choose. If we think, for example, of the scratch card, which is a must for us Italians, we find that the tax applied to winnings is 12%. It is different, for example, for lotto, which is taxed at 8%, or for casino games, which are taxed at 20%. Do I have to pay taxes on my winnings in the UK, check this resource: https://www.couponannie.com/blog/gambling-tax-do-i-have-to-pay-taxes-on-my-winnings/

Tax interest

The Customs and Monopoly Agency, which handles the taxation of winnings, will make sure that each jackpot complies with the rules also set for the transfer of winnings. Please note that the bet is divided into 3 categories, which are divided as follows:

• Winnings from sports betting, TV games and other media are taxed at 20%;
• Instead, jackpots generated from lotteries, scratch cards, and bingo are taxed at 10%;
• In any other case, the tax rate is increased to 25%.

Of course, it can be interesting to know about this aspect and these meanings, but the topic should not concern the player directly, since all practice is safely managed by ADM.

But is it necessary to declare the winnings?

Here is the question that worries most beginners: if you win, what to do? Will you have to declare a win? This is not necessary at the moment, but we remind you that the rules introduced by ADM are being updated. This is precisely because the winnings you receive, as already mentioned, are already subject to a special tax, which reduces the amount that is then paid out to the player's account. However, it is recommended that you store your online winnings receipts in such a way that you can justify each transaction. This may sound a bit odd, but it's actually an important precaution. Read about popular games played by children in the past on this website.

Conclusion

As we said earlier, knowledge of the taxation of winnings is a must for all those people who want to get closer to the world of online casinos. It is equally important for security and transparency purposes to always choose authorized platforms so that you do not have to worry about anything. Moreover, speech is valid not only during the game, but also when receiving a win to the conclusion.

The decision to choose scammers instead is not only dangerous to your privacy and your winnings, but also illegal. So try to make the right choice and avoid unpleasant surprises!