Wednesday, September 29, 2004

One Good Reason

There is a discussion about how poker players can avoid paying tax on the Hendon Mob forum at the moment.

Can someone please give me one good reason why professional gamblers SHOULDN'T pay tax?


Blogger Steve Leighton said...

Because I never win :-(

1:29 PM  
Anonymous Anonymous said...

The reason being Keith is that there are more losers than winners, can you imagine the tax mans face when confronted with Mohamed Shirazi's claim for a rebate on his losses!

Steve T

4:12 AM  
Anonymous Anonymous said...

I don't think that is any sort of a reason. Lots of people speculate on the stock markets, but if they make more than 6k they start paying capital gains tax. I don't think the fact that many people lose money on the stock market stops the winners paying tax. Why should it do so at poker?

I agree with Keith, can't see any reason why professional gamblers should not have to pay tax.


11:11 AM  
Blogger chaos said...

It is tough to come up with one. There have been countless example of fundmanagers being outperformed by monkeys with pins, or small children. I don't believe the same could be said for the chances of the unskilled punter outdoing a sports bettor or poker player over a year. That said there are a lot of skillful traders out there, but people simply picking a stock for 6 months and getting lucky shouldn't have to pay tax imo or pro gamblers certainly should.

11:32 AM  
Blogger chaos said...

I suppose I should say I can't see any ethical reasons reasons for poker players paying tax, plenty of practical ones I guess.

1:30 PM  
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10:30 PM  

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