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Messages - Alfa1234

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1
Arbing and trading talk / Re: Arbing/sportsbetting TAX Free Countries
« on: January 22, 2018, 01:46:34 PM »
I just use exel...
2
Arbing and trading talk / Re: Arbing/sportsbetting TAX Free Countries
« on: January 20, 2018, 07:40:04 PM »
That depends on the country.  Most likely your country has a tax treaty with the UK to avoid double taxation.

You can check it here:
https://www.gov.uk/government/collections/tax-treaties
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Arbing and trading talk / Re: Arbing/sportsbetting TAX Free Countries
« on: January 20, 2018, 01:08:19 PM »
Do a google search and check for companies that open off shore companies for you...there are dozens.  Ask them to recommend you the best location and explain to them what you want to do.  I suggest EU if you live in an EU country, but it can be anywhere really.  Keep in mind banks will like income from working for an EU company better than working for say a Seychelles company. Be prepared for a setup cost of several k and keep in mind you will pay tax on every € you give yourself as a salary. 

Most companies will recommend a local accountant that can speak English.  It's a bit of work to get it setup but hey...so is arbing.  It all depends on how much you make and how badly you want "official" income.
4
Arbing and trading talk / Re: Arbing/sportsbetting TAX Free Countries
« on: January 20, 2018, 10:40:51 AM »
For those looking to turn some arbing profits into "legitimate" income to be able to get a bank loan, you could start a company in a low-tax EU country and draw an official salary from it.  Your main occupation in that case will be working for that company, so any "additional" income from arbing, can be attributed to simple (untaxed) gambling.

If the dividend tax is lower than income tax then it is better to get a dividend than a salary provided that a manager's salary is lower than the difference dividend minus income tax.

Yes, but the point is to show a steady income for a bank so you can get a mortgage or other loans.  A dividend will not do that.
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Arbing and trading talk / Re: Arbing/sportsbetting TAX Free Countries
« on: January 20, 2018, 10:13:09 AM »
For those looking to turn some arbing profits into "legitimate" income to be able to get a bank loan, you could start a company in a low-tax EU country and draw an official salary from it.  Your main occupation in that case will be working for that company, so any "additional" income from arbing, can be attributed to simple (untaxed) gambling.
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Even if they don't check...for the love of God don't do it consistently because if it ever does ring an alarm bell somewhere, the money will be returned to the bookie and more than likely confiscated.  My advice is to find some other means of withdrawing, perhaps a Neteller registered in the same name as the bookie account?  Also, it's extremely likely the bookie won't let you withdraw any other way than the initial deposit so if you didn't use Trustly to deposit, you won't be able to withdraw that way anyway.

If there is no other way possible, you could try a standard bank withdrawal because the vast majority of European banks does not check the account details, only the account number.  Some DO though, so try sending a smaller amount with different user data first and check if it goes through.
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BetBurger / Re: BetBurger.com - Your ideas, propositions and conserns!
« on: January 17, 2018, 01:27:21 PM »
please can you add any option where arbs coming from exchange can be filtered based on the liquidity volume.

What i mean, is an option were i can be able to high alert if the liquidity volume in betfair and others is less than 100 euros, so i can only see arbs that allows betting limits above 100 euros or my desired amount.

it is annoying to find an alert and you rush to it just to find that you can only bet 2 euros

They have it.  Go to "my account" -> Exchanges and change the "min sum" to the minimum liquitidy you want.
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Arbing and trading talk / Re: Arbing/sportsbetting TAX Free Countries
« on: January 17, 2018, 01:24:28 PM »
For tax reasons, I can understand you UK guys would find it somewhat useless...but it can't hurt just in case the law does change or if there ever becomes legal precedence.

I know for a fact some of the bookies I use grade bets wrongly quite often, at least 1 in 50 bets or so...but I suppose it depends on the bookie and as I use other bookies where I've never had this problem it's simply a matter of which you use.  Either way, it only takes a few seconds after each bet to update your accounting and it can be quite handy for a bunch of things (verification, calculating ROI etc etc).

I love numbers so simply having everything add up to the 2nd decimal point in my accounting is a joy in itself and is part of what makes arbing fun for me...I can't even imagine not keeping a detailed track of everything but everyone is different.  :)
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Arbing and trading talk / Re: Arbing/sportsbetting TAX Free Countries
« on: January 17, 2018, 12:57:04 PM »
Are you seriously saying that keeping a detailed accounting is a waste of time?

In that case, I'm going to say you've probably lost quite a bit of money because of it.

It has saved me thousands, by being able to tell my accounting does not correspond to the betting balance in the bookie.  Bookies regularly grade bets the wrong way (fact).  If I didn't keep a detailed accounting, I probably would never notice and be able to call them upon it.
10
Arbing and trading talk / Re: Arbing/sportsbetting TAX Free Countries
« on: January 17, 2018, 11:58:28 AM »
Regardless it's sound advice to keep a detailed record and accounting of all your bets, even if you'll never need it.
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Arbing and trading talk / Re: Arbing/sportsbetting TAX Free Countries
« on: January 16, 2018, 09:32:34 PM »
Ok, you're right, my post could be confusing to Bud.

To clarify: there is no legislation right now that forces an arber to pay taxes and arbing/value betting income has also not been pursued yet by UK taxes.  My post was meant as a personal opinion and it stated the reasons why taxes could be due anyway for full time smart gamblers, without any laws having been changed.
12
Arbing and trading talk / Re: Arbing/sportsbetting TAX Free Countries
« on: January 16, 2018, 09:14:54 PM »
Why do you always insist on turning my words around Yorkyoss?  I did not say he would definitely pay taxes in the UK, I said that in my humble opinion, taxes could be due because arbing could be seen as a profession and not gambling per se...I then continued to post an article where it is explained in more detail.  The article also clearly stated the gambler (in this case a poker player) had won his case BUT it also says the same argument could be made in a different case like e.g. smart gambling with the use of bots and the outcome could be different.

READ, READ AGAIN...then reread once more...and after that, if you STILL see what your initial glance assumed it was, post your BS.  Stop taking 1 word and turning it into something you believe was said and whinge about it.

/end of that discussion.

To add to the thread and get somewheat back on track:

How do you UK guys solve the problem of "spending" the money?  Let's say you want to buy a rather expensive house...considering gambling is not a profession there, you would not be able to get a mortgage loan based on that income. What about a car loan? I suppose you could simply save your profits, but getting a loan can often be beneficial, definitely when buying a house.  What did/do you do to solve this? 
13
Arbing and trading talk / Re: Arbing/sportsbetting TAX Free Countries
« on: January 16, 2018, 07:39:53 PM »
Wouldn't the UK taxes be able to argue arbing is no longer gambling, but actually a full time occupation that has nothing to do with gambling anymore...and hence be able to tax it?

I know you don't like discussions like that Yorkyoss and have nothing else to say but 'that complete and utter BS', but isn't the above an argument that could be made?  Note I have nothing to gain or lose either way...but if I were a UK taxman and had my eyes on arbing income, that's what I would argue.

EDIT: my above argument has already been made...and won in a similar (poker) case.  It lost in appeal.
https://www.taxationweb.co.uk/tax-articles/income-tax/when-can-a-professional-gambler-be-taxable-on-winnings.html
14
Arbing and trading talk / Re: Arbing/sportsbetting TAX Free Countries
« on: January 16, 2018, 05:25:13 PM »
IMHO, once it becomes you main income (even in the UK) it can no longer be seen as gambling income and will be taxed as any other job meaning you pay taxes on your yearly income.  Whether or not you can get away with it more easily without paying anything in the UK or other countries where gambling profits aren't taxed, is another matter.
15
General talk about e-wallets / Re: E-wallets withdraw anonymously
« on: January 14, 2018, 10:12:35 AM »
Search the forum...there is a very long thread about this very thing only a few topics down, in this same subforum.
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