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3rdeye

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Viewing 7 posts - 18 through 24 (of 24 total)
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  • in reply to: Countries with tax free gambling #30017
    3rdeye
    Member
    • Total Posts 30

    Thanks for your reply and the information Davidbrady.  I am new to this forum, but my experience on this forum so far has been just great.  Everyone has been very helpful and I do appreciate that.

    in reply to: Unbelievable! #29626
    3rdeye
    Member
    • Total Posts 30

    It is legal from a US perspective for a US citizen to bet on the exchanges while outside of the USA, as it would not be violating any US law.  The US wire act et al that make it illegal to place bets do not apply outside of the USA.  But Wit is right, even if it was illegal, you have to declare your proceeds or violate US tax laws.  Since the US is supposedly a democracy, I wonder who the heck made up these laws?  Certainly not the general population.  BTW, i didn’t vote for this administration, i guarrentee you that!!  Next they’ll want to send me to G-bay for expressing my thoughts.  Wait, who’s that at the door……?:o

    (Edited by 3rdeye at 6:04 pm on Nov. 4, 2006)

    in reply to: Countries with tax free gambling #30014
    3rdeye
    Member
    • Total Posts 30

    Thanks again Wit.  One more question, if I was to stay longer than 3 months in the UK, would I have to declare and pay taxes on winnings to the UK?  They don’t tax their locals punting winnings, how about tourist that stay for over three months?

    in reply to: Unbelievable! #29623
    3rdeye
    Member
    • Total Posts 30

    I am in the same boat as you Zerro. I want to bet on the exchanges but can’t legally due to this darn government.  On top of everything else, if I leave the country to bet legally and make money, I have to declare it so they can tax it:angry:   Not only do they make it a pain in the arse to place the bets, but they want their cut if you are successful also.  Land of the free my arse!!!  

    (Edited by 3rdeye at 2:12 am on Nov. 4, 2006)<br>

    (Edited by 3rdeye at 2:14 am on Nov. 4, 2006)

    in reply to: Canadians betting on the exchanges? #78996
    3rdeye
    Member
    • Total Posts 30

    I believe you are correct, although if you can prove you reside outside of the USA, some them will allow you to place bets.  As it should be, the US citizen would not be breaking US laws under those circumstances.

    in reply to: Canadians betting on the exchanges? #78989
    3rdeye
    Member
    • Total Posts 30

    Thank you so much for the time you all have spent to post your replies.  It is much appreciated.

    in reply to: Canadians betting on the exchanges? #78986
    3rdeye
    Member
    • Total Posts 30

    Thank you for the replies so far.  My understanding is it would be legal for me to place bets outside of the US from the US legal view point, as I would be subject to the laws of the country from which I was placing bets, and not subject to US laws.  Opening an account with Betfair or another exchange would be a small problem, but one that could be overcome once I establish proof that I am outside of the US.  I have spent years developing systems as a hobby and now feel ready to give it a go, I just wish I could place bets from here!  Darn this government!  

Viewing 7 posts - 18 through 24 (of 24 total)