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Discussion in 'Advanced Craps' started by Night Attack, Jul 13, 2018.
Don't bet on it chump!
Looks like Australia Only Taxes Casino's on Winnings. Here's a brief post on how they do it!
Gambling is an activity undertaken by many Australians. Over 80% of Australian adults engage in gambling of some kind, which is the highest rate of gambling in the world.
Taxation laws on gambling in Australia
Gamblers' winnings in Australia are not taxed. There are 3 main reasons for that:
Gambling is not considered a profession, it's treated as a hobby or recreational activity.
The Australian government views gains from gambling activities not as income, but as a result of good luck. Even if someone wins big, they also lose a lot in other gambling sessions.
The government taxes gambling operators instead.
Taxation of gambling operators in Australia differs from state to state and different gambling services are taxed in a different way. There are taxes on the turnover, on player loss and net profit. As gambling operators need to obtain a license to offer their services, certain fees must also be paid at this stage of gambling business development.
The use of different tax rates and tax bases makes it difficult to compare taxes across states. For example, the ACT's keno tax rate of 2.53% of turnover is equivalent to a tax rate on gross profits of 10.12%.
Tax rates (2015-16)
EGMs in hotels EGMs in clubs EGMs in casinos Keno Table games in casinos (and keno in casinos in some instances)
NSW 0-50% of quarterly player loss, depending on quarterly player loss 0-28.05% of quarterly player loss, depending on quarterly player loss (the rate peaks at 28.05% for $250,000-$450,000, then falls to 18.05% before rising to a maximum of 26.55% above $5 million) 16.41-38.91% of gross revenue, depending on gross revenue, plus 2% Responsible Gambling Levy on gross gaming revenue 8.91%-14.91% of player loss, depending on player loss 16.41-38.91% of gross revenue, depending on gross revenue
Victoria 8.33-62.53% of monthly average player loss (per machine), depending on by monthly average player loss, times by the average number of machines 0-54.20% of monthly average player loss (per machine), depending on monthly average player loss, times by the average number of machines 31.57-51.57% of gross gaming revenue, depending on gross revenue, plus a 1% Community Benefit Levy 24.24% of player loss 21.25-41.25% of gross revenue, depending on gross revenue, plus 1% Community Benefit Levy
Queensland 35% of monthly taxable metered win (amount bet minus payout), plus Health Services Levy of 0-20% of monthly taxable metered win, depending on monthly metered win 0-35.00% of monthly taxable metered win, depending on monthly metered win 30% of monthly gross revenue (Gold Coast and Brisbane casinos), 20% of gross revenue (Townsville and Cairns casinos) 29.40% of monthly gross revenue, excluding casino commissions (Jupiters Casino), 20% of monthly gross revenue (Gold Coast and Brisbane casinos), 10% of gross revenue (Townsville and Cairns casinos) 20% of monthly gross revenue (Gold Coast and Brisbane casinos), 10% of gross revenue (Townsville and Cairns casinos)
Western Australia N/A N/A 12.42% flat rate on gross gaming revenue, plus 2% Burswood Park Levy on gross revenue 9.37% of player loss (domestic), 1.75% of player loss (international business) 9.37% (domestic), 12.92% (fully automated table games)
South Australia 0-65% of annual net gambling revenue, depending on annual net gambling revenue Up to 41% of net gambling revenue 41% of net gambling revenue 3.41% of net gambling revenue (table games), 10.91% of net gambling revenue (fully automated table games)
Tasmania 25.88% of gross profit, plus 4% Community Support Levy 25.88% on gross profit 5.88% of gross profit 0.88% of annual gross profit
Northern Territory 12.91-42.91% of monthly gross profits 11% of gross profit (Lasseters Casino), 15% of gross profit (Skycity Darwin Casino), plus a 10% Community Benefit Levy 10% of gross profit, reduced by the GST amount The GST rate only
Australian Capital Territory 25.9% of gross monthly revenue, plus 0.6% Problem Gambling Assistance Fund Levy 10.9% of gross revenue 2.53% of turnover
Yes, Taxation Can be VERY HOGH ~ South Australia 0-65% of annual net gambling revenue, depending on annual net gambling revenue.
An OB/GYN, before the availability of ultrasounds, had a reputation for correctly determining the gender of an unborn baby. Upon retiring he was asked to reveal the secret of his success. His response went something like this. "During an early prenatal examination I would ask the mother what sex she and her husband were hoping for. Then, when it came time to make my prediction I would guess the opposite. If I was right I would mention my call; if I was wrong I would remain silent, and in their joy some new parents forgot my error." Similar reasoning...but only in my opinion .
Looks like the Mesa Troll should avoid Australia. Apparently, luck is acknowledged there to exist and be a factor causing winning and losing. Imagine that?
No, it's the opposite. They don't recognize his skill, and attribute his winnings to "luck" so they don't tax him. It's a "HALL HEAVEN". GO WEST SIR,
"Hall Heaven" LOL that's a good one...
Just be happy that our government doesn't , also , govern by
superstition . As people are becoming more educated
we are able to stamp out superstition throughout the world.
Australia too will realize that , "LUCK" has "NO POWER"
to control the destiny of people
I wouldnt mind Destiny controlling me
No worries. James is most welcome here. I'll even pick him up from the airport and deliver him to the casino. Parker, Moe, Curly and any other Mesa guys are also welcome.
How about pitching in for fuel expense for the plane! Never mind....just clear the Runway, & Casino Winnings by the Magnificent Mesa Crew pays for the fuel expense.
Sounds like you grasp the concept , then upon arriving Vegas
Parker has a deal for renting cars 3 days usually around $40
all comes out of the group fund
I answered a knock on the door earlier this morning, a neighbor
lady from down the street looking for her cat. About an hour later
another knock , this time it was her husband , he told me that his wife
had noticed a craps table in my living room . I invited him in to see the table . He told me that he and several of the guys from the neighborhood play poker one night a week and invited me to join their
group , I told him I don't play poker anymore , I am strictly a craps player
I told him I didn't play poker or blackjack because they are strictly random games of chance . I said you have , NO CONTROL , you either get good cards or you lose ,
We talked for a almost two hours , There will be a group of them over here tomorrow evening about 7 to explain to me why they think it's easier to win at poker . That should be interesting
If that were true and it was simply a random draw of the cards to determine who wins and loses...you would not see the amount of REPEAT professionals making it to the final table of the World Series of poker events.
There is no question that skill, ability and know how are a part of winning poker and it isn’t just “who gets the good cards”....
All you need to do is look at the same guys consistently finishing “in the money” at these events. If it was all just who gets the best cards, it would be a mix of novice, professional and everyone in between.
I hope you guys have a blast tomorrow, but James.....I know this is hard for you to believe, but....Black Jack is NOT a game of chance. It is /can be a skillful game for Card Counters. Same thing with Poker....SKILL!!!
True enough...you have to " manage" the cards that are randomly dealt to you in both venues, but once those cards hit your hands...it then becomes a game of skill.
Surely, I would have thought that you KNEW that. However, being that BOTH games are MATH oriented games.... with Poker requiring finesse ( the ability to successfully "bluff" your opponent/s)...it's no wonder as to why you don't play those games!!!
Oops...it appears that you beat me to the punch TD! Lol.
We were probably typing to Jame's post simultaneously. You simply hit " Post reply" before me. Lol
REALLY?.....What seasoned Gambler ( James has to be a " seasoned" Gambler after indulging Craps since 1966....right?)He Doesn't know that Black Jack, & Poker are skill based games? Now, I NEVER said he was a " Professional" Craps Player, but.....Seasoned?....YES! Not knowing that Poker, & Black Jack are skill based?..... Simply UNBELIEVABLE!!!!
A good cash game poker player makes most of their money by playing the other players. Good cards are nice but they definitely aren't a requirement to win.
You should check out poker. Professional bullshitters usually have an easier time learning to play the other players part of the game.
Aw, shit.....maybe I shouldn't have responded to Jame's post. I'll lay ya 300 to 1 that TD, & I will be accused of " teaming up" against James.
Ya know....the old " Insider group" thingy.
Oh....I might add that I recently put a " Like" on one of Jame's post, so I'll likely be accused of being confused again! Ya know... The old " either you're with me", or " against me" thingy!!!!!
Top...ya can't agree with ANYTHING that Jame's post. Ya either gotta love like him or hate him. Disregard the BREVITY of the post.....Make it a " Personal" thingy.......RIGHT JIMMY? Lol
Are you insinuating that James could be an excellent Poker Player? Lol
You can win a hand , ONLY if by CHANCE you get better cards than the dealer . I don't find that in the least bit difficult to believe or understand
There is NO SKILL ON EARTH available to control what comes out of the shoe . The cards you receive are by chance alone.
In Poker betting can be a skill , that is but half the game the
other half the uncontrollable half the chancy part is the worst
The part YOU HAVE NO CONTROL OVER , the part where
you get good cards or bad cards