If you are playing with an online casino based anywhere, this read will equip you with all of the necessary information pertaining to finances, including crucial topics surrounding a few gambling laws around the world:
- Gambling laws around the world
- Taxation on gambling,
Later on, to lighten things up, we will share some interesting facts about online casinos all over the world. They will certainly raise eyebrows, so stick till the end as we debunk common myths too.
The Legal Side of Online Casinos
To put it out there, gambling of all forms, including online casinos, traditional land-based casinos, and even sports betting are fully legal in most developed countries. Ever since the turn of the century, numerous countries fully accepted gambling as its popularity rose immensely.
For example, in the case of Romania, the first regulation of gambling was drafted in 2007. It was drafted by the Romanian National Gambling Office, which oversees taxation, legalities, and licensing within Romanian casinos and other modes of gambling.
The regulator has a natural duty for player safety, hence all licensed sites operating within their dominion are completely safe; players can deposit their money and play without a shadow of a doubt.
Taxation on Gambling Around the World
This question is often asked by many, however, a solution is rarely provided. Many players inquire about the taxation on their rewards; whether they have to pay any or not. To summarize taxation on gambling around the world, there are plenty, some of which have to be paid by the players themselves.
Firstly, on all deposits made to the casino, players have to pay 2% of the full amount in tax. This particular tax has been vastly criticized because other EU countries often allocate this tax on the operator.
In addition to this, players are also legally obligated to pay taxes on their winnings. Any winning worth less than 75,000 RON will come with a 1% tax. Subsequently, winnings of more than 500,000 RON, or any other currency, can be taxed up to a whopping 25%.
What is the Future of Online Gambling Around the World
Although governments impose greater penalties on the players rather than the organizations (casinos), the online gambling landscape around the world is quite stable thanks to superior operators providing exceptional services all over the world.
Now that we are done with covering legalities and taxation laws regarding online gambling in around the world, we shift our focus to some interesting facts surrounding online gambling, from all over the world.
Interest Facts about Online Gambling
- Initially, slot machines were mainly called fruit machines because they offered rewards of fruit chewing gums; this is why you often see slot machine buttons being labeled with different fruits.
- Microgaming developed the first online casino in history, in 1994.
- Despite the common stereotype of men engaging in online gambling at a larger scale, you will be surprised to know that men and women engage in online gambling at an equal level.
- On average, men prefer games of skill, whereas women prefer games of chance.
- Online casino gambling is not about addiction as only 33% of players can be considered as ‘professional gamblers’ while the rest only enjoy it due to the entertainment.
- You can also tip the dealer at an online casino game. Various gaming engines, such as Evolution Gaming, provide the useful feature of tipping. This is ideal for the dealer’s morale as it will reward his or her performance.
Concluding Remarks
The online gambling horizon is quite bright, whether you are in Romania or anywhere around the world. All you have to do is equip yourself with the right information that can be achieved through researching your chosen online casino because prevention is better than cure.
