According to a new law, players must pay taxes on all bets made in online poker and at virtual machines, regardless of the amount wagered. Politicians say it’s just because other betting offers aren’t as generous as this. The industry, on the other hand, warns of dire consequences.

The poker game Texas Hold’em is the most popular on the internet. Face-down cards are dealt with each participant. When three out of five communal cards on the table are used in a poker hand to choose a winner, it is the player that can bluff the other players into believing they have the strongest hand possible. If that’s too much of a talent issue, you might want to try virtual computers. “Crystal Book” or “Wild Sun” are some of the games played here. Sometimes letters and numbers spin, and other times melons, lemons, and bells ring in the background. Winning requires that a specific combination of symbols remain in position. Gambling over the internet has been on the rise for years. As a result, the state now seeks to legalize and tax the market for the first time. Betting on racehorses and other sports results will continue to be taxed at a consistent 5.3 percent in the future. A federal-state must write up and pass a law before July, according to a draft that must be approved by the Bundestag before then. Recently, the Federal Cabinet passed the draft into law.

From the changes, the illicit market benefits

The industry is in a panic. Much money is involved. Over two billion euros are estimated to have been spent on the largely uncontrolled market. They are generally based in Malta or Gibraltar and had little to fear for a long period before the financial crisis hit in 2008. Not one of them was persecuted. After all, the products are publicly advertised at football stadiums and on television. All of a sudden, everything has changed. New laws and controls must be adhered to by anyone who wants to formally participate in Germany’s rich market in the near future. Because of this, no provider wants to tangle with lawmakers who are looking for a nationwide license according to the State Treaty on Gaming, which will go into force on July 1st, 2017. A few words are said in the shadows, however. According to the director of a service-based in Malta with merely an EU license, the additional 365 million euros per year expected by the federal states is proof of politicians’ denial of reality. Even if it’s only a third of everything, one can still be satisfied in the end. Black markets, which are currently untaxed, will continue to flourish as a result of the tax reforms he believes.

On top of all that, players have to pay taxes on their gains!

What follows always applies, regardless of whether you’re at a roulette table on a racetrack or playing in 우리카지노, Gambling winnings in Germany are tax-free. As a condition, however, the supplier must have a gaming license in Germany or another EU nation, pay tax on its sales in that country, and maybe also pay gaming tax. Any proceeds that aren’t taxed in this way are subject to seizure or fine, at least in theory. A player who wins more than 10,000 euros while playing outside the European Union (such as in Las Vegas) is required by law to disclose that sum at the border.