Do I have to pay taxes on my winnings from an online casino?

It is not surprising if you are confused regarding the tax rules in regard to the winnings earned on online gaming sites, but it is actually not that tricky, at least within the EU. Within the countries of the European Union you do not need to pay any taxes on your winnings if the operator is licensed in EU. If that is the case all your earnings are tax free. In our reviews of the different gambling sites, you can always see if the operator has its license within EU or not.

If the gambling site does NOT have a license to operate within EU, all your winnings are taxable.

If you are a player residing in the U.S., you should be aware of that you must declare your winnings as income, but you also have the possibility to deduct any losses in your tax declaration. The rules themselves are not so simple, so if it is recommended that you contact an accountant who knows exactly how the current laws are. The laws about online gambling and online transactions to gambling sites are under great debate and development at the moment, and before all processed, no one knows exactly what counts. But normally all your incomes are taxable.