Hi, I would like to ask your opinion about perfect location for professional sports bettor.
Taxation, access to range of sportsbooks with primarily focus on full limit pinnacle account. Does Malta tick all the boxes? There are also countries where individual restricting of players is prohibited, do you have personally any experience with those?
Thanks for all your feedbacks.
Location for professional sports bettor
- ex-hft
- Has experience
- Karma: 14
Post
Re: Location for professional sports bettor
I only ever heard of Spain as a country where individual bettors can’t be restricted, and from other threads on this forum, that no longer seems to be the case - only that they have some X time before they can shut you down (maybe two weeks, maybe a day, not clear).
But Spain has high gambling taxes, so that’s not ideal.
Are there others?
But Spain has high gambling taxes, so that’s not ideal.
Are there others?
- paul
- Gaining experience
- Karma: 0
Post
Re: Location for professional sports bettor
Austria, Bulgaria, and probably Malta as well, seem to be friendly for using brokers. Are there countries that actually prohibit player limiting by soft books you say?
- ex-hft
- Has experience
- Karma: 14
Post
Bet365 limited them, and they appealed to the supreme court and won, and they had their accounts reinstated.
Then, for a while, no one could limit any player in Spain (I'm not clear on the details), and then, according to the thread in the forum, this changed to a two weeks notice, and later to a one day notice.
The relevant discussions here contain a lot of additional information, and there are people around here who know much more than I do - maybe they can give the up-to-date picture.
Re: Location for professional sports bettor
There was a famous (inside this circle) story of a group of Spanish bettors who made a bunch of money off of Bet365 by betting on tennis.
Bet365 limited them, and they appealed to the supreme court and won, and they had their accounts reinstated.
Then, for a while, no one could limit any player in Spain (I'm not clear on the details), and then, according to the thread in the forum, this changed to a two weeks notice, and later to a one day notice.
The relevant discussions here contain a lot of additional information, and there are people around here who know much more than I do - maybe they can give the up-to-date picture.
- pkpunter
- To become a Pro
- Karma: 9
Post
Re: Location for professional sports bettor
very interesting your post Ex, I hope it is true for Spanish friends but also for us, the best place for a smart bettor is in your head , I know it's hard , it's a battle every day but if when you have fluid and good ideas every good place , clearly there are regions where you have to face more difficulties and others less but if you are a true smart bettor , you can do almost anything , almost anywhere
- candido
- Newbie
- Karma: 0
Post
Re: Location for professional sports bettor
Hi mates .... i am from Spain and i am looking for a safe place to bet in the euro zone like it was in the 00's till 2012 ...
sort of have been lost at the upside down all this years but im looking forward to get back on track ...
i read above about malta , austria and bulgaria ....
could anyone elaborate a bit more about it ...
i do not even mind paying taxes if its not huge % ...
malta is supoused to be tax free right ?
what about taxes in austria ...
spain is a mess ... theyll cut you asap ... only losers wanted ...
thx in advance
sort of have been lost at the upside down all this years but im looking forward to get back on track ...
i read above about malta , austria and bulgaria ....
could anyone elaborate a bit more about it ...
i do not even mind paying taxes if its not huge % ...
malta is supoused to be tax free right ?
what about taxes in austria ...
spain is a mess ... theyll cut you asap ... only losers wanted ...
thx in advance
- ANDI
- Gaining experience
- Karma: 1
- candido3q24
- Gaining experience
- Karma: 0
Post
Re: Location for professional sports bettor
do you really think they will not find a way out or just close shop ...
its bussiness .. in such limited market not like previous to regulating era after around 2010, where market all around was huge , they cant have huge percentage of losers just to pay an increasing % of winners .... couse even losers someday cut it and learn ...
last time i checked its only asian oriented bookies having bussiness based on margins those that are ok to play at ...
i dunno .....
its bussiness .. in such limited market not like previous to regulating era after around 2010, where market all around was huge , they cant have huge percentage of losers just to pay an increasing % of winners .... couse even losers someday cut it and learn ...
last time i checked its only asian oriented bookies having bussiness based on margins those that are ok to play at ...
i dunno .....
- candido3q24
- Gaining experience
- Karma: 0
Post
now those bsrds are closing accounts on "risk factor" regardless of win lose i.e .. if its a winner with huge turnover and profit they just can say couse the gob is about to promote a new law allowing bookies to monitor those with big frequency well who may very well be compulsive gambler OR a guy that knows his way in betting and is prolific as often ...
this country is a joke ... the same guy supoused to go against shark bookies poping up everyway specially on popular neighbourhoods is working in their favour now ....
ops you are in danger !! .. when in reality bookies think ... ops .. you are going to minimise my profits
but honestly who really think bookies are going to let it be .. no way european so called bookies willl not react to winners ..
only way to go as ever is asians workin on margins ...
now regarding asians and agents id like to know firts hand if its posible how its the market and taxing going in AUSTRIA !!
any local or austria based punter around ?
are usual agents allowed .. BIA .. AC ,, and so on ... if so what about taxes !!
thanks and best regards.
Re: Location for professional sports bettor
I still do not get what do you guys expect from bookies ...
now those bsrds are closing accounts on "risk factor" regardless of win lose i.e .. if its a winner with huge turnover and profit they just can say couse the gob is about to promote a new law allowing bookies to monitor those with big frequency well who may very well be compulsive gambler OR a guy that knows his way in betting and is prolific as often ...
this country is a joke ... the same guy supoused to go against shark bookies poping up everyway specially on popular neighbourhoods is working in their favour now ....
ops you are in danger !! .. when in reality bookies think ... ops .. you are going to minimise my profits
but honestly who really think bookies are going to let it be .. no way european so called bookies willl not react to winners ..
only way to go as ever is asians workin on margins ...
now regarding asians and agents id like to know firts hand if its posible how its the market and taxing going in AUSTRIA !!
any local or austria based punter around ?
are usual agents allowed .. BIA .. AC ,, and so on ... if so what about taxes !!
thanks and best regards.
- unertl
- Gaining experience
- Karma: 0
Post
taxes: As usual, you need to speak with a laywer/tax adviser here to get the best setup possible. It is always the same, in every country: You need to communicate with a professional regarding your own personal setup and risk appetite.
Re: Location for professional sports bettor
I am living in Austria, you can use almost all of the agents.candido3q24 wrote: ↑Tue Aug 01, 2023 7:20 amI still do not get what do you guys expect from bookies ...
now those bsrds are closing accounts on "risk factor" regardless of win lose i.e .. if its a winner with huge turnover and profit they just can say couse the gob is about to promote a new law allowing bookies to monitor those with big frequency well who may very well be compulsive gambler OR a guy that knows his way in betting and is prolific as often ...
this country is a joke ... the same guy supoused to go against shark bookies poping up everyway specially on popular neighbourhoods is working in their favour now ....
ops you are in danger !! .. when in reality bookies think ... ops .. you are going to minimise my profits
but honestly who really think bookies are going to let it be .. no way european so called bookies willl not react to winners ..
only way to go as ever is asians workin on margins ...
now regarding asians and agents id like to know firts hand if its posible how its the market and taxing going in AUSTRIA !!
any local or austria based punter around ?
are usual agents allowed .. BIA .. AC ,, and so on ... if so what about taxes !!
thanks and best regards.
taxes: As usual, you need to speak with a laywer/tax adviser here to get the best setup possible. It is always the same, in every country: You need to communicate with a professional regarding your own personal setup and risk appetite.
- candido3q24
- Gaining experience
- Karma: 0
Post
Re: Location for professional sports bettor
Thanks for answer !
By you can use agents meaning they are legal?...
... couse f.i in Spain you can use them yet they are not on paper legal.....i read some people still make notice with tax office with wining ...others may try to hide ...yet what will hapen when .es and street bookies ask gov to reinforce law ...and make them pay fine....i dunno this country is not good at gov level on the control realm of things ....they shall come 5 years from now hunting wrondoers..
What about tax ...what is the % on winings ?
I read somewhere (sbo.net) ...it depends on region and betting is treated as a game of skill and not chance ...GREAT!....
CHEERS
By you can use agents meaning they are legal?...
... couse f.i in Spain you can use them yet they are not on paper legal.....i read some people still make notice with tax office with wining ...others may try to hide ...yet what will hapen when .es and street bookies ask gov to reinforce law ...and make them pay fine....i dunno this country is not good at gov level on the control realm of things ....they shall come 5 years from now hunting wrondoers..
What about tax ...what is the % on winings ?
I read somewhere (sbo.net) ...it depends on region and betting is treated as a game of skill and not chance ...GREAT!....
CHEERS
- unertl
- Gaining experience
- Karma: 0
Post
Re: Location for professional sports bettor
in theory: no winnings from gambling are taxable in Austria
in reality: if gambling is your main source of income and you don`t declare anything, you`re going to have a big problem
as I mentioned previously: it all depends on the size of your operation and the setup that suits you the best
in reality: if gambling is your main source of income and you don`t declare anything, you`re going to have a big problem
as I mentioned previously: it all depends on the size of your operation and the setup that suits you the best
- treblepop
- Has experience
- Karma: 16
Post
Re: Location for professional sports bettor
i see lots of people say this, why will you have a big problem for not declaring income which by law you do not have to declare?
there are some countries (such as Canada) where the tax law says if you conduct you're gambling with a 'business like' (stupidly ambiguous) manner than you must pay tax.
As far as i can see places like UK and Austria both clearly have no interest in taxing gambling even from 'professionals'
I welcome any evidence you have to the contrary.
there are some countries (such as Canada) where the tax law says if you conduct you're gambling with a 'business like' (stupidly ambiguous) manner than you must pay tax.
As far as i can see places like UK and Austria both clearly have no interest in taxing gambling even from 'professionals'
I welcome any evidence you have to the contrary.
- candido3q24
- Gaining experience
- Karma: 0
Post
Re: Location for professional sports bettor
Gambling would be main source....
I guess it depends a lot as you said on size...
Right now i am abroad in SEA and shall go back to EU within a year ...
Wise thing to do is contact as u mentioned
Proper lawyer or tax adviser ....if there is % to be payed as long as its not an abuse i guess its ok.
Thx.
I guess it depends a lot as you said on size...
Right now i am abroad in SEA and shall go back to EU within a year ...
Wise thing to do is contact as u mentioned
Proper lawyer or tax adviser ....if there is % to be payed as long as its not an abuse i guess its ok.
Thx.
- swissarbs
- Gaining experience
- Karma: 0
Post
Re: Location for professional sports bettor
I do know a lot of Austrians, who are betting from semi to a full professionell level. Never heard any of them having trouble not declaring their juristically not existing income. Same story in germany, apart from the taxes they take directly from the operators.
-
