In this article, we will address a question that is often asked by members of our community: "Do we have to report to taxes the gains generated in sports betting".
This is a good question because it means that you are one of the 3 to 5% betters in France who manage to make long-term profits.
After several weeks of using MAJENI, this question is legitimate.
The answer will depend on your betting profile, the amount of your earnings and especially their regularity.
You do not have to worry if you are in these cases:
- In the majority of cases, you will not have to declare your winnings because sports bets (in the broad sense) are considered a game of chance and the issues are not predictable (just like horse bets)
- If like most gamblers, you play small sums, occasionally, you have no worries to have
- If exceptionally you have made a big gain (there is no exact amount specified by the taxes), you will also not be affected by taxation.
However, if you are one of the people who can generate consistent and regular earnings, you must include them on your tax return.
There are precisely 3 situations where you will be imposed:
- If you are a professional gambler with a company created to wager, then your earnings will be taxed.
- If your winnings are regular, you may be affected. Indeed, if the tax administration realizes that you have a transfer from a bookmaker that arrives regularly, then you will certainly have to pay taxes on it.
- If your earnings from sports bets are higher than your main source of income (wage, retirement, pensions) then they will be taxed for non-commercial profits (NCBs). We are you Strongly recommend report this amount on your next income tax return.
The tax rate will be calculated on a case-by-case basis based on the usual elements (taxable amount, family quotient, etc.)
Good to know: Tax administration imposes gains from certain games such as poker or bridge "because the practice of the game is not based on pure chance, but on a mastery and strategy"
The MAJENI method tends to get closer to poker because the prognosis approach is no longer based on chance but on a global method, which by its algorithm and bankroll management considerably reduces the random share.
To summarize on tax and sports bets
You will be affected by taxes only if you earn regular and consistent income.
No specific amount has yet been provided to determine whether you are above or below this amount.
If you are in this case and your earnings are regular, we advise you not to withdraw them to your bank account in a usual way (for example, do not make an automatic transfer of 2,000). € Every 5th of the month) which would attract the attention of the tax authorities.
Finally, at the time we write this article (05/08/2021), know that sports betting sites using cryptocurrency have the wind in their stern.
The advantages are many: advantageous and secure transactions, but you also have the possibility to bet in the most complete anonymity because the transactions are associated with your wallet on which your personal data are not disclosed.
Read our article on the topic of cryptocurrency betting here
Taxation of online casinos
Online games do not only concern sports betting. You can also register at an online casino and play various games, such as:
- slot machines
- Table games
- live casino
It is therefore normal to ask the question of taxation at that level too.
You can be reassured, because if you play on an ad hoc basis, you will not be imposed. Your earnings will only be earned if it is equivalent to a salary. They are then affected by income tax. Also know that you will have a social levy of 12% for earnings of more than 1,500 euros. So you know.
If you want to register on the site of an online casino, to discover the universe and try to earn a little money, you can do it without fear. Of course, it is a matter of choosing a renowned and secure establishment, in particular to enjoy the best bonuses. If you're interested, visit the site next. You will discover an online casino that has proven its worth for many years, with a very varied ludotheque and bonuses.
