Hooligans Sportsbook

Skrill to Cease Processing Gambling Payments in Canada?

  • Start date •
  • Replies
    75 Replies •
  • Views 6,443 Views
Follow
Humour me. I like the idea if I get lucky that I can in fact extract the funds from the book.

Last time I gambled was about three years ago at a book called Betsson. I won a little bit but had no way to cash out because I used some shady fucking e-wallet.
 
The loss of skrill as a funding source is a nuisance.

For me it means I'll make more of my wagers at Pinnacle/Betfair and less at 5dimes/Cris etc.

Here's a hint:

If you get a mogo visa card you can use it to deposit and withdraw at betfair, mogo does not charge a cash advance fee for gambling deposits to betfair. You should also keep the betfair acct in CAD and not USD to avoid conversion fees. Your first issued mogo visa is free and you can fund it via interac e transfer or bill payment.

Cashout from betfair to mogo visa is processed immediately by betfair and takes up to 48 hours to show on the mogo visa card.

https://www.mogo.ca/
 
Matty
This is a gross oversimplification. MrX would have to pay taxes if he was Canadian.

Windfall is not taxed, i.e. a lottery jackpot, single large poker tournament prize, etc.
Click to expand...


Mr X will have to pay taxes no matter what as the US demands that their citizens report world wide income.


Matty I can only go by personal experience and I've never heard of any of my acquaintances from the gambling world to have to pay taxes on gambling winnings.


Matty I hit "jackpots" of $14k, $27K and $41k hitting exotic wagers at the racetrack, all in the same year, I paid no tax.


You cannot prove gambling winnings are taxable in Canada, go ahead, I dare you to try.
 
plommer
You cannot prove gambling winnings are taxable in Canada, go ahead, I dare you to try.
Click to expand...

:bashing:

How many of those degens you know, including yourself, ever declared their occupation as being gambling? Y'all had another source of income.

http://www.theglobeandmail.com/glob...ker-winnings-read-it-and-weep/article1210182/
http://www.gamingcounsel.co/pdf/The Tax-Exempt Status of Gambling Winnings in Canada.pdf
http://pokerati.com/2011/04/taxation-of-gambling-winnings-in-canada/
 
Exactly. if it is a windfall like a horse racing jackpot ---> no taxes. But if you are working at it for a living, you have to pay. I looked it up years ago and there is a list of conditions in the tax code under which you have to pay. I'm sure I have it verbatim in an old thread at SBR somewhere but I'm not going looking for it, but what it amounts to is, if you are using some specialized knowledge to earn money from wagering in a systematic way, it's taxable.

I paid plenny taxes all my years betting for a living.

You can try to weasel around it and say that if they ever come after you, you will try to explain the money that keeps appearing in your bank accounts some other way. You could try. I opted not to.
 
You must log in or register to reply here.