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tax on gambaling earnings?

  • 11-05-2006 5:14pm
    #1
    blocparty
    Registered Users, Registered Users 2 Posts: 447 ✭✭


    I was just wondering do you have to pay tax on the money you earn from gambling? im talking about winnings generated from online casinos?

    if anyone has any advice/ help on this issue its appreciated.

    cheers


Comments

  • #2
    kluivert
    Registered Users, Registered Users 2 Posts: 2,399 ✭✭✭kluivert


    no - tax free

    likewise if you make a lost you cant set that off against future earnigns.


  • #3
    barbiegirl
    Registered Users, Registered Users 2 Posts: 1,846 ✭✭✭barbiegirl


    All tax free but remember it is losses as well as wins. Overall I find I come out evens at the end of the month.


  • #4
    blocparty
    Registered Users, Registered Users 2 Posts: 447 ✭✭blocparty


    ya i know bout the potential losses. hopefully ill make a profit. im up at the moment by playing poker and roulette.


  • #5
    Culchie
    Registered Users, Registered Users 2 Posts: 5,047 ✭✭✭Culchie


    blocparty wrote:
    ya i know bout the potential losses. hopefully ill make a profit. im up at the moment by playing poker and roulette.

    I suggest strongly that you drop the roulette ... it's a house game, the house always wins inthe long run.

    Poker, at least you play other players, if you are better than your opponents, you will win in the long term, provided you use correct bankroll management.


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