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In the UK you can choose to pay tax on your stake when you place it, so that your winnings are tax free, or not, in which case your winnings are taxed.
by robotresearcher 2y ago
In the UK you can choose to pay tax on your stake when you place it, so that your winnings are tax free, or not, in which case your winnings are taxed.
- mnahkies 2y agoAre you sure? I never make bets over £20 or so, but my understanding is if I hit it big there's no tax to worry about - this source seems to agree, unless you're a professional gambler which somewhat makes sense https://intelligentodds.com/gambling/do-you-pay-tax-on-gambling-winnings-in-the-uk/ https://intelligentodds.com/gambling/do-you-pay-tax-on-gambl...
- robotresearcher 2y agoAccording to that link, it changed in 2001. I left the uk before that. Now I feel very old. Thanks for the correction.