News & Notices: GambleJoe: Current state of affairs with the GlüStV (Page 12)
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GambleJoe: Current state of affairs with the GlüStV
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Crypto is unfortunately not as easy to use as it was 3 or 4 years ago. Our authorities and banks are especially paranoid about online banking since the Wirecard scandal. Crypto is something like Satan for them. With small changes in laws and new rules crypto banking is getting more and more annoying. Gambling wins are tax free in DE? Not with crypto. If you won you are only allowed to exchange back the amount you originally exchanged. The rest has to stay in the wallet for a year otherwise the tax office will come. Many banks refuse a transfer to the account from the wallet if you can not prove how you got the crypto that you exchanged in the exchange in euros and now want to transfer to their own checking account
The EU Parliament approved a new law in June which will make anonymous crypto transfers illegal in the EU from sometime next year. Within and also in and out of the EU. Sender and receiver will be suspicious. Coinbase and Co must verfieziern all wallets Just like normal banks. 🤷🏼♂️ But the EU does not want to know where the citizen parks his crypto. Never! ! All just to fight money laundering. This will even work. The bad guys will no longer launder their money through crypto, much too cumbersome. They will just go shopping in the one EU country that can't get it together to set a cap on cash payments
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GambleJoe: Current state of affairs with the GlüStV
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Isn't it still current that as long as you don't exceed 500 euro win with cryptos everything stays tax free without a 1 year grace period ? And only if the win is higher than 500 euros, then it will be taxed if the 1 year grace period is not met ? I often watch videos of Youtubern who only talk about crypto and should it have changed something, then I would have surely already heard from them what about it
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GambleJoe: Current state of affairs with the GlüStV
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You have an allowance of 600€ as with all other investments
Everything else has to be in your wallet for 1 year.
Crypto even has an advantage:
If you make loss in casinos with crypto, you can use the losses (buzzer of the purchased cryptocurrency) tax-reducing
Again --> analogous to other investments
Especially in this year you can deduct and disguise your losses well in the OC due to the strongly fluctuating BTC price...
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GambleJoe: Current state of affairs with the GlüStV
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And that's why we won't have any awesome progress to offer years from now, I mean why bother inventing world changing things if the EU is going to come around the corner and make everything unnecessarily complicated that people are already f**ked up from just using it?
That is really not to be believed there comes what new and for years no government wants to know what of it and if they jump then after 10 to 15 years times on the train they make the whole thing totally stupid
So it was with OC and with cryptos and so it will be when we build houses on the moon or make flying cars available to the general population
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GambleJoe: Current state of affairs with the GlüStV
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So my opinion on this subject: I do not understand any player who gambles with the new legal providers. The RTP's are just way too low see https://games.tipico.de/de/games-info who doesn't want to click: Book of Dead has a RTP of 87.25% and pretty much all other games also below 90%! If you then consider that we previously had 96-97 RTPs and have already lost a lot then good night ..
In addition, then comes that casinos have an RTP of 94%, no limits, etc.. This is in my opinion simply all just perverse lobbying by Gauselmann. Otherwise, I can not explain it to me, because it simply once again makes 0 sense what is decided here
And you can see this lobby not only in this topic, that pulls itself through the whole policy.
I also see no reason to cooperate with the authority. They will be stubborn anyway. My biggest hope is that it goes to court and maybe an OC or Affiliate wins or that the OCs do some lobbying, which they seem to have missed very well in recent years ..
Well, whatever. No normal player will do that currently long with the "legal" and there will always be ways out for the time being. Even if you then have to play in web3 with crypto. Affiliates will also continue to exist, just maybe differently. I have heard internally at least that Soft2Bet has also applied for the license or plans to do so and SoftSwiss will probably continue for now. If these two big companies get the license, it could also go relatively quickly with limit relaxations. If not, they will continue in the black market, perhaps also with Costa Rica license.
It is also exciting to see what AskGamblers and Casino Guru will do, as both are still promoting Curacao, Costa Rica & Malta. For affiliates, revenue is also plummeting extremely as there is no revenue share anymore, only bad CPAs.
As soon as the E-Euro comes etc. we are then anyway all transparent. It's about time that you don't always put up with everything from the government as a citizen
Think about what they do when no one plays at the "legal"? They have to relax the limits, because they want your taxes and Merkur has probably spent millions on lobby! So do not put up with it! But typical Germany stop you can do nothing blah blah blah ... Let's hope for the best and everyone can do their part!
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GambleJoe: Current state of affairs with the GlüStV
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That is true with the 600 euro allowance. If I Deposit 10 euros in a casino and win 2000 I can withdraw the amount without further ado. No taxes. Now I deposit at the same casino 10€ in Bitcoin and wins 2000 I can only dispose of the 600. The 1400 will be taxed should I not wait the 12 months. In both cases I have already paid my gambling tax with each spin. Oh, and if I win 10 million in the lottery Jackpot during the 12 months I can use it immediately. Tax free. Only the 1400 € gambling win will have to wait
May be that the exchange rate fluctuations help to settle, but does not prevent the basic idea, no intermediary, no fees, no control by the state, on which crypto is actually based broken. The banks are already there and some, such as Uphold, are now totally focused on profit.
The price fluctuations do not help people who have won or received a bitcoin as a gift 6 or 10 years ago, have now sold and their own house bank refuses the transfer to the account. Because they can't prove where and how exactly they got the bitcoin.
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GambleJoe: Current state of affairs with the GlüStV
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GambleJoe: Current state of affairs with the GlüStV
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Oh you can say what you want our politics decides what suits them just in the stuff as my driving instructor has said at the time why is no law from age XY you must regularly check whether you can still drive? Answer: because in our government are all old geezers that it would also affect therefore far away with such a topic
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GambleJoe: Current state of affairs with the GlüStV
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The 12 month blocking period does not have anything to do directly with the casino win or the spin tax.
Rather, it is about the crypto that are bought by the deposit at the current rate
If the price rises and you sell before the expiry of the 12 month lock period, then the win achieved on a sale is subject to speculation tax
The 600€ are the exemption amount, meaning 600€ win are tax free
Whereby the question arises for me, why in the example mentioned 1,400 € are held back in the Wallet? Surely this is the win from gambling, these wins are tax free?
If a win was made by the sale/exchange of the Crypto in Euro, then actually only this amount is subject to speculation tax.????
Or do I have a mistake in understanding?
If someone knows about this I would be very grateful for clarification
The h
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GambleJoe: Current state of affairs with the GlüStV
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Theoretically, the tax should only be on the pure profit of the cryptos Glücksspiel is yes tax free therefore minus the win and then you pay the tax on the profit you have earned by increase
Thus, it should not matter if you sell and thus pay out as long as you remain in the range of transactions of the OC for that there is the receipt for payment
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