Do You Pay Taxes on Gambling Winnings in the UK?

Whether you log in with your online casino once a month or if you fund your lifestyle through online gambling, the UK is the place to be. Gambling is not only 100% legal in the UK, while players are also in a position to take home everything in which they win. Laws and legislation means that those in Scotland, Wales, Northern Ireland and England are able to take advantage of tax free winnings, something which is not the case in other locations across the globe.

While those based in countries including France and the US have to worry about gambling taxes, players in the UK will be happy to learn that they are in a position to keep the entirety of their winnings. With such taxes having been scrapped just after the turn of the millennium, the establishment of the UK Gambling Commission also brought more structure to the gambling industry, including the regulation of online casinos. However, one thing that has remained a constant is the fact that whether players operate live or via the internet, all gambling winnings are tax free.

This is partly down to the fact that the British government makes a small fortune from gambling each year, with the latest figures showing a profit of around £3 billion. It is worth keeping in mind that this figure includes lotteries, sports betting and remote gaming, however this is still a huge amount. A large proportion of this cash comes from the 15% tax levy in which gambling providers must pay, which helps to ensure that players are not forced to pay anything on their earnings. However, it is worth keeping in mind that casinos and gambling sites will often take into account their tax fees when creating odds.

Gambling Using Offshore Operators

Those who are familiar with gambling online will have noticed some major changes over recent years, including the quality of games, technology and mobile. However, such changes also include taxes, with many sites that cater for UK-based players actually being based offshore. Many will have previously been based in the UK, before coming to the realisation that they could reduce their taxes by relocating elsewhere. As a result, all sites that operate for British players are now required to be fully licensed by the UK Gambling Commission, while they must also pay the same 15% tax rate as others do.

Recreational vs Professional Players

In the UK, there is also no distinction between recreational players and professional gamblers when it comes to taxes. As a result, whether you are looking to withdraw £10 or £1,000, no tax is required to be paid, thanks to legislation from the HM Revenue and Customs. However, those playing on casinos outside of the UK may have to deal with local tax laws, for example, those travelling to Los Vegas for the weekend may have to apply for a non-resident refund.

Sheffield Wednesday vs Swansea City Offer

The FA Cup returns to our screens this weekend, with a whole host of games taking place over the next few days. One of the standout ties of the Fourth Round is taking place at Hillsborough as Sheffield Wednesday host Swansea City. This game is made even more interesting by the fact that Carlos Carvalhal will be returning to the club who sacked him in December. Following his sacking, Swansea City, who were sitting bottom of the Premier League took a chance on Carvalhal and have not regretted it.

Swansea City Offer

Swansea City have lost only once since Carvalhal took over and a return of six wins and four draws from their other ten games have seen them climb clear of the relegation zone. The sacked boss is sure to want to send out a message to his doubters in Sheffield on Saturday and to coincide with the match, 138.com are running a superb offer for new customers to take advantage of. They are offering a price boost of 30/1 on Swansea City to win the game!

Sheffield Wednesday

To get involved with this offer you must be a new 138.com customer and have never held an account with them before. Once you have opened your account, simply deposit £5 and then place your first bet, up to a maximum of £1 on Swansea 1×2 Full Time (Match Result) at the normal website odds and if your selection wins, 138.com will enhance your winnings at the Price Boost odds. Your winnings will be paid in the form of bonus tokens and these will be paid in multiples of £5; so if the bonus tokens amount to £22 you will receive 4 x £5 and 1 x £2.

Sheffield Wednesday vs Swansea City Offer

As you can see, this is a really easy offer to take advantage of and one which you should definitely consider getting involved with if you’re not already a 138.com customer. More informations about betting on this game you’ll find with a Betfred Review.

David Goulbourn

16/02/2018

Ukraine and Turkey Meet in Top Four Shootout

UEFA World Cup qualifying Group I is set for a very exciting finish.  The top four teams have just 2 points between them and Ukraine and Turkey sit in fourth and third respectively on 11 points each, 2 points behind Croatia and Iceland.

With both Croatia and Iceland set to pick up maximum points in this round of fixtures, whoever can win this game will have a distinct advantage over the loser going into the final three matches.

Since splitting from the Soviet Union, Ukraine have participated in one World Cup finals, which was Germany 2006.  They did well to reach the quarter-final stage but have failed to qualify for the finals since that success.

Turkey have played in two World Cup finals, with their first appearance coming way back in 1954 when they were eliminated at the first-round stage.  Their most recent appearance came in 2002 when they famously finished third in Japan and South Korea.

Ukraine Form

Ukraine have won 3, drawn 2 and lost 1 of their 6 World Cup qualifying games.  They began their campaign with draws at home to Iceland and away to Turkey, the latter of which finished 2-2.

Since then, they have defeated Kosovo and Finland at home plus picked up maximum points in the away match against the Fins.  Their only defeat has come in the away fixture in Croatia, which Ukraine lost 1-0.

Home form in World Cup qualification shows Ukraine as being a tough team to beat on home soil.  They are undefeated in their previous 8 home games and have picked up some good wins against France and Poland.  They have also kept 6 clean sheets in their last 7 home World Cup qualifiers.

Turkey Form

Turkey come into this match with an identical record to their hosts in World Cup qualifying Group I but with a 1 goal superior goal difference.  That is what separates the teams ahead of this crucial game.

Turkey started their campaign with a good 1-1 draw in Croatia but were then held at home by Ukraine before losing 2-0 in Iceland.  They recovered by defeating Kosovo and Finland at home before comfortably beating Kosovo away from home.

The one problem Turkey have faced in this group is conceding goals and they have kept just two clean sheets, both at home against the weakest teams in the group.  Turkey’s recent away World Cup qualifying record is good and they have lost only 1 of their last 6 away games, winning 4 of them.

Team News

Yevhen Konoplyanka and Andriy Yarmolenko and the biggest threats for Ukraine going forward and both are set to start in wide positions, with Artem Kravets as the central striker.  The experienced Ruslan Rotan will play in midfield.

Turkey are without Burak Yılmaz who is suspended but Arda Turan makes a return to the squad and should line up in midfield along with Nuri Sahin, Hakan Calhanoglu, and Emre Mor.

Top Betting Tips

Turkey have a good recent away record but Ukraine are very strong at home and with their fans behind them could come away from this match with a crucial 3 points.  Ukraine to win is 13/10 with Bet365.

Ukraine have also shown themselves to be good defensively at home and if they score first, will be very difficult for Turkey to break down.  Ukraine to win without conceding a goal is 12/5 with Ladbrokes.

Artem Kravets has 3 goals to his name in World Cup qualifying, 2 of which have come at home and the striker will be a big threat in this game.  Kravets to score at any time is 2/1 with Bet365.

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