If you live in the UK, you can breathe a huge sigh of relief because the good news is, you don’t have to pay tax on gambling wins! However, this isn’t necessarily the case in other parts of the world such as the US where both cash and non-cash gambling winnings are considered taxable income. Making Sense of UK Gambling Taxes UK players do not pay taxes on their gambling winnings. The previous betting duty was abolished in 2001. Gambling sites now pay a 15% levy on their earnings. The tax-free status of gambling in the UK has not always been in place, however, and until relatively recently punters did have to pay tax on their bets/winnings. Betting shops were legalised in the UK in the 1960s and from then until 2001 there was a 9% tax levied against bettors. In Ireland bookies must pay 1% on all bets placed through them, while in Kenya bookies have to pay 7.5% tax on all winnings they record. In some cases, there may be no tax on gambling at all, while in other cases players aren’t taxed on winnings but casino operators and bookies are required to pay taxes. The UK Government does care if you win £1 or £100 million. It doesn’t matter if you win at football betting sites in the UK or pocket your prizes via a lottery. UK players do not pay tax on their gambling winnings to the tax authority, HMRC (Her Majesty’s Revenue and Customs). How gambling tax in the UK currently works Back in a day, UK punters did pay taxes on their gambling winnings. Those taxes were abolished in 2001 when Gordon Brown was Chancellor of the Exchequer. The Gambling Act of 2005 set up the legal frame for gambling in the UK. For the first time in history, it also regulated internet gambling. The short, simple and wonderfully sweet answer is that no, there is no tax at all to pay on either gambling winnings or stakes in the UK (if you are not based in the UK please check your local jurisdiction). Spread betting, index betting and binary options are not regulated by the UK Gambling Commission but instead fall under the umbrella of the Financial Conduct Authority (FCA). Despite this you do not need to pay the 18% UK Capital Gains Tax or stamp duty on winnings from Spread Betting. Is Gambling Taxable in the UK? First and foremost, gambling is classed as tax free in the UK for consumers (players and bettors), however, players in other countries such as France, the USA, and Macau may have to comply with taxes that are in the region of between 1% and 25%. Bulgaria doesn’t charge tax online winnings. Casino operators pay €17,500 for each license and location in which they operate their casino. Roulette and table games are taxed at a fixed amount.
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