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Arbing/sportsbetting TAX Free Countries

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maletaja
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Re: Arbing/sportsbetting TAX Free Countries

Wed Jan 17, 2018 7:30 pm

sry how much do u earn to MOVE diffrent country! In year 2018!!! not 2000
U have to earn at least 10k per month to make it practical way of living...

Yes it was said  that community dont want competirious there. They are not worth it. Basic information lays on google.
Still, there could be ways to create some synergy. U share ideas, but u dont kill yourself position to be competitive.
straili
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Re: Arbing/sportsbetting TAX Free Countries

Thu Jan 18, 2018 7:35 pm

Some people believe in myths and Badspencer moving to another country is a big step that comes with opportunities and certain risks.
Other people believe that ''this is a forum and you can post whatever you want''.
That said, I would suggest you double check all advise you receive from your competitors in this forum. Because after all, we are all competitors here.
As boss said moving abroad means that you have to move your tax residency as well. I could start from this point and then see if you can build a successful operating procedure. If your primary target is the UK, notice that staying 183 days in the islands means that you are a tax resident of the UK, and no boarding pass and no ticket will save you from this.
yo
yorkjoss

Re: Arbing/sportsbetting TAX Free Countries

Thu Jan 18, 2018 10:24 pm

straili wrote: Some people believe in myths and Badspencer moving to another country is a big step that comes with opportunities and certain risks.
Other people believe that ''this is a forum and you can post whatever you want''.
That said, I would suggest you double check all advise you receive from your competitors in this forum. Because after all, we are all competitors here.
As boss said moving abroad means that you have to move your tax residency as well. I could start from this point and then see if you can build a successful operating procedure. If your primary target is the UK, notice that staying 183 days in the islands means that you are a tax resident of the UK, and no boarding pass and no ticket will save you from this.

183 days? if he finds a job in the UK he's liable to pay tax from day.1...he asked about arbing/sportsbetting tax free countries though and 183 days is irelevant in terms of what he was asking

correct you definitely have to check advice given on this forum
Bubbles
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Re: Arbing/sportsbetting TAX Free Countries

Fri Jan 19, 2018 2:44 pm

Alfa1234 wrote: 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.
I'm afraid this is exactly the view shared by a UK taxman: if it's recreational it's tax free, if it's a job it's treated as a job and taxed. Anyone in doubt can consult them directly about it. I'm not saying that this is legally right but that this is the way they see it. Having said that I haven't heard of anyone chased or prosecuted, so in practical terms as long as one doesn't shout about  those millions one makes on gambling..
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Re: Arbing/sportsbetting TAX Free Countries

Fri Jan 19, 2018 3:56 pm

Personal gambling winnings, whether its pure luck, skill (poker etc) or arbing is completely tax free in the UK.  Where is becomes taxable and a possible issue is if you are betting on different peoples accounts, whatever Yorkloss seems to think lol

If HMRC decide to investigate you for tax evasion be prepared for them to want to see EVERYTHING!
Never trust a goose!!!
yo
yorkjoss

Re: Arbing/sportsbetting TAX Free Countries

Fri Jan 19, 2018 5:10 pm

total number of gamblers who have paid uk income tax on their winnings since the beginning of time = zero

you are more likely to be struck by lightning or even hit by space debris....as long as there's no change in the UK tax laws

betfair traders, courtsiders, gamblers, arbers, betting syndicates, all profiting, UK has them all in abundance

any foreign guy thinking of arbing in the UK, you have much more likely things to worry about rather than worrying about you becoming the first person ever to pay tax on your gambling earnings, don't worry about income tax on your gambling earnings, it's 10.000-1 you're going to be paying it.
Last edited by yorkjoss on Fri Jan 19, 2018 6:42 pm, edited 1 time in total.
yo
yorkjoss

Re: Arbing/sportsbetting TAX Free Countries

Fri Jan 19, 2018 6:19 pm

dealer wins wrote: Personal gambling winnings, whether its pure luck, skill (poker etc) or arbing is completely tax free in the UK.  Where is becomes taxable and a possible issue is if you are betting on different peoples accounts, whatever Yorkloss seems to think lol

If HMRC decide to investigate you for tax evasion be prepared for them to want to see EVERYTHING!
read Barney Curley's book smart guy, he has used syndicates, multiple people and i'd's to take millions off the bookmaker and he's not the only syndicate, how much income tax do you think he and others like him have paid on their winnings?

maybe you think Dealerwins that betting coups are pulled off by just one guy placing bets by himself only using just his own name or i.d?.......of course you have a lot to learn

dealerwins your jealousy of those "multi accounter's" you often severely criticise is affecting your judgement I think ;D
Last edited by yorkjoss on Fri Jan 19, 2018 6:31 pm, edited 1 time in total.
barbero
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Re: Arbing/sportsbetting TAX Free Countries

Fri Jan 19, 2018 7:23 pm

yorkjoss, I agree with you on taxing, it's pretty clear to me as well.

What would be in your opinion the 'much more likely things to worry about' for foreigners that are considering arbing in UK? Are bookies there a pain in the ass when it comes to requesting documents, etc? I'm interested in your input here, I mean strictly about the arbing business, forget about the usual problems of finding a place to rent, etc.

Thanks
Asher
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Re: Arbing/sportsbetting TAX Free Countries

Fri Jan 19, 2018 8:42 pm

Hi guys,

I am new here. Although I registered in this forum for a few months it's my first post. I've been reading quite a lot to learn...

Interesting topic. I live in the UK but my official address is in a nearby country. If I do arb in the UK but I am not a tax resident in the UK, would I have to pay tax in the country I am officially registered as a tax resident?
Last edited by Asher on Sat Jan 20, 2018 4:30 pm, edited 1 time in total.
vinciguerra
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Re: Arbing/sportsbetting TAX Free Countries

Fri Jan 19, 2018 11:40 pm

As a general rule you pay tax in the country you physically live in for most of the year (exact nr of months is different per country). you should be able to prove this, and possibly get yourself unsubscribed from the county of your other country, and there may be unwanted side effects (eligibility for state pension when you're old etc).  you should get advice on this.

on this topic: theoretically it's possible not having to pay tax anywhere in the world by continously moving and never staying anywhere for more than a few months. this basically means you're not a tax resident anywhere.
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Re: Arbing/sportsbetting TAX Free Countries

Sat Jan 20, 2018 2:02 am

vinciguerra wrote: on this topic: theoretically it's possible not having to pay tax anywhere in the world by continously moving and never staying anywhere for more than a few months. this basically means you're not a tax resident anywhere.
How would this work? You need a adress for your bank, wallet and also for some sportsbooks.
Changing every few month the adress?
As i know is, you need somewhere a tax residence.
sideprofits
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Re: Arbing/sportsbetting TAX Free Countries

Sat Jan 20, 2018 9:37 am

vinciguerra wrote: theoretically
Key word.
Once you start having a tax residence at the age of 18, no tax authority will allow you to stop having one. They all ask you were your next tax residency is. However there is a grey area. What happens if you deny any tax residency before the age of 18? Later, when you grow old and make a family, many tax authorities will use your kid's school to determine where your tax residency is.
There is an EU country following tactics of fascism claiming your tax residency by where your ''main interests'' are. Once we had to examine a situation where someone was making fortunes in the US while wanted to buy a seaside home to use it for 10-15 days each summer. The tax law of that country had several grey areas and dangers were hiding everywhere. We made a report suggesting that he should avoid buying that home. Theoretically, and I stress the word theoretically without wanting to stress members, even passing from certain airspaces might cause financial and tax issues.
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Re: Arbing/sportsbetting TAX Free Countries

Sat Jan 20, 2018 10:13 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.
sideprofits
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Re: Arbing/sportsbetting TAX Free Countries

Sat Jan 20, 2018 10:24 am

Alfa1234 wrote: 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.
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Re: Arbing/sportsbetting TAX Free Countries

Sat Jan 20, 2018 10:40 am

sideprofits wrote:
Alfa1234 wrote: 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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