Poker

The Irish Riddler

If i pay E1k to enter a poker tournament and win E100k I don't have to pay tax on that.

If I pay half the entry fee for someone else in exchange for half their winnings do I have to pay tax on that?

2ndcoming

No. There's no tax on gambling winnings in Ireland, which includes poker winnings.

Theoretically, you could consider it an investment, which you've got a return on which ordinarily would be taxable, but as the original return, ie the win itself, wasn't taxable, unless you actually go and declare the income as such nobody will come looking for it.

Consider it more as if you give your pal €500 and he goes and puts €1000 on a horse to win at 100/1, and it wins. You wouldn't be taxable on this either.

Sminky_28391

what is the best hand to win in a game of poker

2ndcoming

Profound

Mr. Incognito

If Poker is your main job then it is taxable as Case 1 Trade income

sled driver

Mr. Incognito wrote: »

If Poker is your main job then it is taxable as Case 1 Trade income

Do you have back-up for that as I'm not sure I agree with you?

My main reason for saying that is if Revenue were to tax it as a trade, they would also have to allow gambling losses aswell. Suddenly there would be an influx of people claiming playing poker was their job and claiming Case I losses against other income. And as everybody that has ever laid a bet knows, significantly more people lose than win !!

GoldenCygnet

Poker is not a “job” recognised by any Govt.

okidoki987

7 1/2 years to bump that? :eek: