It has become clear in recent years that online gambling can net huge numbers of growth. While tax and gambling in the online world has been mostly unregulated, this will soon change. Countries all across the world are looking to make online gambling as legal as possible, and tax the income that is gained from online gambling.
It is not clear how this will affect the gambling community. Studies do not indicate, however, that this will cause devout gambling fans to lose interest in the games. It will likely have more regulations on online industries, who will have to learn new tax laws and what restrictions they may need to impose on their websites.
Many places are looking to legalize and tax online gambling, but here are just a few major locations that are legalizing and taxing online gambling:
Greece is adding to those who look to reform the online casino industry. It is becoming clear that this is a huge trend across the world. The rules look for reforms, as well as rules in gambling. They are expected to provide vendors license to foreign online gambling providers as well.
Laws are still pending, but Greece looks to make many positive changes in the reform.
London, Europe. New laws will soon take place in the gambling industry regarding overhauling online gambling industries and taxes. Laws are currently unclear. What is clear is that the process will be lengthy, but will hopefully provide benefits to both casinos and players.
Lawmakers are hoping this makes the industry more legitimate and clear up legal issues around gambling income.
Portugal is one of the many unique places to gamble. Currently, gambling is legal in Portugal. Places that offer gambling amenities pay anywhere from 8-16%.
Those who wish to do online gambling will have to pay around 15%, with an extra 3% taxes added on for every additional one million dollars in revenue, with maximum rates being around 30%.
Taxes Will Likely Benefit All
The taxes won’t just benefit the government, either. While players may not want the taxes, there will be some slightly stricter regulations on gambling casinos, making them a better option for players. There are also places that will offer gambling and gaming licenses, so that people can see that companies are legitimate. Portugal is expected to begin issuing gambling licenses for online casinos later this year.