Arbusers

Hello everybody, i'm wondering if it's possible for italians to use betting agents.

Things are complicated here: the local law says we can't use foreign bookmakers, but the european law say that goods and services can travel freely in european countries (and i saw that some agents have license from Netherlands).
And let's say theoretically i win money from foreign bookmakers, do i have to declare this money and pay income taxes for it?
Or it's better to move the residence in another country, or open a business in another country and use it for the betting activity?

Obviously i'm limited on the best italian bookmakers, and the others have extremely low odds or are not reliable.
I'd like suggestions from someone who knows more than me about it, thank you very much.

Ste wrote: ↑

Thu Jun 20, 2024 8:48 am

Hello everybody, i'm wondering if it's possible for italians to use betting agents.

Things are complicated here: the local law says we can't use foreign bookmakers, but the european law say that goods and services can travel freely in european countries (and i saw that some agents have license from Netherlands).
And let's say theoretically i win money from foreign bookmakers, do i have to declare this money and pay income taxes for it?
Or it's better to move the residence in another country, or open a business in another country and use it for the betting activity?

Obviously i'm limited on the best italian bookmakers, and the others have extremely low odds or are not reliable.
I'd like suggestions from someone who knows more than me about it, thank you very much.

Use crypto for deposits and/or dont deposit and make withdrawals to cards and bank accounts with Italian banks. Also use VPN.

I would say it depends. is your betting annual income (profit) over 10k,40k,100k have different answers.

Thank you very much for the replies, guys.

@Axel IT: I have some doubts: even if i do everything via crypto wallet and vpn, sooner or later i will need to convert the crypto in local currency... it should go to a foreign card?

@hexaflexa: can you expand? would be very interesting to know the different options even if i'm not even close to come amounts you said

hexaflexa wrote: ↑

Thu Jun 20, 2024 9:05 pm

I would say it depends. is your betting annual income (profit) over 10k,40k,100k have different answers.

What would be each answer for each income amount?

Ste wrote: ↑

Fri Jun 21, 2024 5:54 pm

Thank you very much for the replies, guys.

@Axel IT: I have some doubts: even if i do everything via crypto wallet and vpn, sooner or later i will need to convert the crypto in local currency... it should go to a foreign card?

@hexaflexa: can you expand? would be very interesting to know the different options even if i'm not even close to come amounts you said

A lot of šeople also in Italy exchange crypto into a cash for some fees

Ste wrote: ↑

Fri Jun 21, 2024 5:54 pm

Thank you very much for the replies, guys.

@Axel IT: I have some doubts: even if i do everything via crypto wallet and vpn, sooner or later i will need to convert the crypto in local currency... it should go to a foreign card?

@hexaflexa: can you expand? would be very interesting to know the different options even if i'm not even close to come amounts you said

the money can go to a foreign account like Skrill, Jeton Wallet, something similar

Thank you again for the answers, i hope you all had a nice weekend and please be patient because i have other questions:

- once the money is for example on Skrill, anyway i would have to move it from there to something i can use for payments or withdrawals, like a skrill mastercard. is this safe?
- which is a good and safe crypto wallet that can be used to purchase crypto and deposit it to bookmakers?
- do the available exchanges through the agents (piwi, orbit etc) have an Api service that can be used with softwares like Betangel, Geek's toy etc?

Thanks again, i'm new to the world of agent style betting and i'd like to get as many info as possible before starting

Ste wrote: ↑

Tue Jun 25, 2024 8:57 am

Thank you again for the answers, i hope you all had a nice weekend and please be patient because i have other questions:

- once the money is for example on Skrill, anyway i would have to move it from there to something i can use for payments or withdrawals, like a skrill mastercard. is this safe?
- which is a good and safe crypto wallet that can be used to purchase crypto and deposit it to bookmakers?
- do the available exchanges through the agents (piwi, orbit etc) have an Api service that can be used with softwares like Betangel, Geek's toy etc?

Thanks again, i'm new to the world of agent style betting and i'd like to get as many info as possible before starting

betfair does not allow software like BetAngel to be used on white label partners like Orbit, Piwi etc. The only alternative is to get API access to Mollybet through Bet in Asia or Asianconnect, but you need to build your own software or pay somebody to do it for you, and pay a one-time fee I think around $600 to the agent.

thanks again! if you have more info or suggestions they are very welcome

Ste wrote: ↑

Tue Jun 25, 2024 8:57 am

- once the money is for example on Skrill, anyway i would have to move it from there to something i can use for payments or withdrawals, like a skrill mastercard. is this safe?
- which is a good and safe crypto wallet that can be used to purchase crypto and deposit it to bookmakers?

Thanks again, i'm new to the world of agent style betting and i'd like to get as many info as possible before starting

if someone can help with these questions from my previous post i'll be grateful

I would open a bank account up in a country that is not Italy. Another European country would be the easiest. You say some are licensed in Netherlands it will be very easy to open a bank account as a non resident in the Netherlands then use that solely for your gambling activity. They however do have taxes on winnings as income. Being a non resident not sure what this would mean for you. I would recommened opening a bank account in Finland, Switzerland (commerical not private) or another european country that allows non residents without a fixed address to open a bank account. Conduct your transactions from there moving forward even your first intial purchase of crypto currency. Keeping it all outside of Italy should remove any issues. You would have to pay capital gains tax on your crypto when converting to local currency. Find an agent that you can fund your deposit using bank transfer.

Thank you very much for the answer!

This system sounds like a lot of work and i guess it's good for the ones who make a lot of money, but unfortunately i'm not one of them.

I'm curious: even having a foreign bank account, anyway you would have to take money out of this account and use it through a credit card or ATM to take cash.
So, which is the difference between a foreign bank account and a foreign virtual wallet? For example skrill + skrill card?
The bank account is safer?

Ste wrote: ↑

Thu Aug 29, 2024 3:10 pm

Thank you very much for the answer!

This system sounds like a lot of work and i guess it's good for the ones who make a lot of money, but unfortunately i'm not one of them.

I'm curious: even having a foreign bank account, anyway you would have to take money out of this account and use it through a credit card or ATM to take cash.
So, which is the difference between a foreign bank account and a foreign virtual wallet? For example skrill + skrill card?
The bank account is safer?

You could use the card, to withdraw cash in Italy using your foreign card and pay for things that way etc. Skrill sending your balance to prepaid card is an option but slightly less flexible albeit a lot easier. What are you betting on currently? Would be interested to dicuss as I am looking to bet more volume currently for my brokerage. I would handle the placing of bets and accounts etc you would just provide the selections for share of profits. If you are interested drop me a message

Hi, thanks for the reply... so i guess a skrill + skrill card would be ok, i don't move big amounts of money.

Thanks for the offer too, but at the moment i prefer to do everything by myself. If in the future i'll need, we'll talk about it