Online Casinos in general: Consequences after July 1, 2021 (Page 36)

R0UNDER wrote on 07/07/2021 at 00:55: Check out Videoslots! There beckons a surprise

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Hello everybody. Attached is a statement from Platincasino about taxes. Here also the link :www.platincasino.com/de/support/tax.html

If you could believe all this, that would be acceptable for me.

Since 01 July 2021, a new amendment to the Race Betting and Lottery Act in Germany has come into force. According to this, Platincasino will in future be obliged to levy a tax of 5.3% percent on all real money wagers from all players accessing our website from Germany.

This Interstate Treaty applies equally to all federal states in Germany and is intended to regulate the conduct of online gaming uniformly in the future, to serve the prevention of Gambling addiction and the protection of minors and players, and to ensure the proper conduct of gaming. The gambling supervisory authority based in Germany is responsible for monitoring the public law obligations existing under this Interstate Treaty or established on the basis of this Interstate Treaty.

What exactly do these changes mean for you as a player?

In the future, the aforementioned tax of 5.3% percent will apply to every real-money wager. This means that for a stake of 1.00 €, your customer account balance will be debited with a total of 1.053 €.

We have chosen this way of tax implementation because we at Platincasino always want to offer our players the best chances of winning. The alternative would have meant that the RTP (Return to Player - the percentage of stakes paid out to players) of casino games would be reduced, lowering your chances of winning in all games at Platincasino. However, considering the fact that our players always come first, this has not been an option for us.

You can find a detailed breakdown of your bets and the calculated tax in your account at My Profile > Game Rounds . Here you will find a new section with Stake tax.

If you have any further questions regarding this topic, please do not hesitate to contact our customer service team at support[at]platincasino.com .

RTP explanation

The RTP (return to player) is a statistical value that indicates the average payout that all players of a slot receive back as wins over a certain period of time. Let's take a slot with an RTP of 95% as an example. All stakes of all players in the network (i.e. not only players on a website, but all players playing this particular slot of a Provider like NetEnt, Microgaming, etc.) are taken over a period of time, for example 12 hours, and in total this slot pays out 95% of the total stakes as winnings. Which player wins how much is left to chance.

At Platincasino all RTPs of our games remain as high as before, while the other option would have been to reduce the RTPs and thus finance the tax incurred. However, this would mean for our players that on average they would get back a smaller amount of all stakes as wins, thus drastically decreasing the chances of winning.

Let's compare these two options using a $100 Deposit as an example
You play with an RTP of 96% and pay a tax of 5.3%. This means that on average you will get 96€ of your 100€ back as win and 5,30€ will be deducted as tax. The bottom line is an average payout of 90,70€ for you.

In the alternative we would have had to lower the RTP, for example to 88%, in order to finance the tax, thereby you pay no extra tax amount, but receive from your 100€ deposit, basically only 88€ on average as a win paid out.

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markusk78 wrote on 07/07/2021 at 11:11: H
taxes

Hello everyone. Attached times a statement from Platincasino about taxes. Here also the link :www.platincasino.com/de/support/tax.html

If you could believe all this, that would be acceptable to me.

Since 01 July 2021, a new amendment to the Race Betting and Lottery Act in Germany has come into force. According to this, Platincasino will in future be obliged to levy a tax of 5.3% percent on all real money wagers from all players accessing our website from Germany.

This Interstate Treaty applies equally to all federal states in Germany and is intended to regulate the conduct of online gaming uniformly in the future, to serve the prevention of Gambling addiction and the protection of minors and players, and to ensure the proper conduct of gaming. The gambling supervisory authority based in Germany is responsible for monitoring the public law obligations existing under this Interstate Treaty or established on the basis of this Interstate Treaty.

What exactly do these changes mean for you as a player?

In the future, the aforementioned tax of 5.3% percent will apply to every real money wager. This means that for a stake of 1.00 €, your customer account balance will be debited with a total of 1.053 €.

We have chosen this way of tax implementation because we at Platincasino always want to offer our players the best chances of winning. The alternative would have meant that the RTP (Return to Player - the percentage of stakes paid out to players) of casino games would be reduced, lowering your chances of winning in all games at Platincasino. However, considering the fact that our players always come first, this has not been an option for us.

You can find a detailed breakdown of your bets and the calculated tax in your account at My Profile > Game Rounds . Here you will find a new section with Stake tax.

If you have any further questions regarding this topic, please do not hesitate to contact our customer service team at support[at]platincasino.com .

RTP explanation

The RTP (return to player) is a statistical value that indicates the average payout that all players of a slot receive back as wins over a certain period of time. Let's take a slot with an RTP of 95% as an example. All stakes of all players in the network (i.e. not only players on a website, but all players playing this particular slot of a Provider like NetEnt, Microgaming, etc.) are taken over a period of time, for example 12 hours, and in total this slot pays out 95% of the total stakes as wins. Which player wins how much is left to chance.

At Platincasino all RTPs of our games remain as high as before, while the other option would have been to reduce the RTPs and thus finance the tax incurred. However, this would mean for our players that on average they would get back a smaller amount of all stakes as wins, thus drastically decreasing the chances of winning.

Let's compare these two options using a $100 Deposit as an example
You play with an RTP of 96% and pay a tax of 5.3%. This means that on average you will get 96€ of your 100€ back as win and 5,30€ will be deducted as tax. The bottom line is an average payout of 90,70€ for you.

In the alternative we would have had to lower the RTP, for example to 88%, in order to finance the tax, thereby you pay no extra tax amount, but receive from your 100€ deposit, basically only 88€ on average as a win paid out.

We want to give our players the best chance of winning at all times and that is why we have decided to keep the same odds as before and deduct the tax directly from the wager.

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Stromberg wrote on 07/07/2021 at 11:58 am
Sure that is understandable if you either include the tax per spin or lower the rtp accordingly
I personally think the way with the tax is better than the way with the rtp
In the end, of course, the same comes out about. In the example with 88 percent rtp of course a little less, but the average seems to settle somewhere around 90.xx, at least where I currently play.

What's not possible is to do both, lower the rtp and add the tax on top....

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harlekin wrote on 07.07.2021 at 12:41 pm: so what videoslots and mr.vegas pull off is wirlich unter aller sau
rtp partly reduced to 87% and in addition the tax per spin is calculated xD
so who still plays there apparently only wants to reduce his bank account


Today via mail from them get:
"We would also like to inform you that according to the new regulations that have come into force, a 5% tax will be deducted on each spin, with a minimum tax deduction of 0.01 € per spin."

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Krabbenburger wrote on 06/07/2021 at 12:13 PM
Madness in which casinos did they change the Roulette odds ?

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