Tax on casino winnings

Do you have to pay tax on casino winnings in USA?

If you play at a foreign online casino Is there a general rule that states that a single benefit of more than NOK 10,000 must be paid for tax. Under the Tax Act, one should then pay 22% tax on the gain - since it is then considered part of a capital income. (We note that the tax rate can be changed). All winnings under NOK 10,000 are completely tax -free.

The Tax Act §5-50 says the following:

What profit amount do you have to report in USA?

Under the Tax Act, a casino profit is considered, for example, slot machines of more than NOK 10,000 as a random gain, and should be taxed by 22%. Nevertheless, there is a comprehensive regulatory framework in USA on this with tax on profits from foreign online casinos, so we will not provide completely solid information in this area. Therefore, we would rather provide a more general information on the topic and encourage you to local tax authorities in each case. There are deductions and various exceptions in the law.

Slot machines

How much money is that?

If you win a gain on a slot machine At a foreign online casino, the main rule is that each individual gain of more than NOK 10,000 should be taxed. The percentage is 22%at the time of writing, but this can be changed every year. We would therefore encourage everyone to The tax authorities In each case where the gain exceeds NOK 10,000.

Prnering

How much money is that?

In a poker tournament, the same rule really applies, where gains over NOK 10,000 are taxable. However, they are deducted from costs that are directly related to the taxable benefits. It may include buy-in, re-buys and/or add-ons. You can read general rules that apply to poker Her.. Below is also general information about the NM in poker and poker in private homes.

NM i poker

The regulations for NM in tournament poker have been revised with effect from March 2021. Below is some key information about what applies:

• The length of permission for NM tournament is increased from three to five years.
• The deposit limit is turned into a loss limit.
• Multiple deposits are allowed in the same tournament.

Poker with friends in private homes

You can play Poker Together with friends in the private home. The following requirements must be met:

• The participants are in close circulation.
• The game must take place in the private home and not have an organized or professional feel.
• The number of participants cannot exceed 20 people.
• Total deposit per player cannot exceed NOK 1,000.

The Lottery and Foundation Authority Has an overview with links to Lovdata about what applies to NM in poker.

We will encourage you to The tax authorities If you are so skilled that you win a gain in the NM in poker.

Lottery and scratch card

How much money is that?

Rules for gains in lottery and scratch cards at foreign gaming companies are mainly the same as for slot machines, where the winnings are considered random. If you are lucky to win in some lottery or other random game, such as scratch cards, the limit of over $ 10,000 will also be considered taxable. It pays to The tax authorities To get everything right.

Game shows

How much money is that?

There is no difference in taxation of gain if you win in their Live casino on Game shows With real dealers. In any case, it is considered a random gain and falls under the limit of more than NOK 10,000 which is taxable. Here too we would recommend ing The tax authorities in each case.

Sports betting / oddstipping

How much money is that?

Any gains from sports betting or odd stipping on, for example, sports also fall under the same legislation where individual gains of more than NOK 10,000 are taxable. However, it is an exception if it is considered a business. You can read more about this exception at the Tax Administration Her.

How and where to report your winnings in USA

Although there are strict rules for tax on casino winnings in USA, it is still legal to play at foreign online casinos. As long as the casino has a valid license through Malta Gaming Authority or Karkaugaming Want to play legally. Dobisinternational has Reviews of casinos that fall under this category.

If you win a single benefit that is over NOK 10,000, the gain should be reported to the American tax authorities. All winnings under this amount are tax -free. We refer to Article 3.1 for competitions, games, lottery listed at The tax authorities:

3.1 Gains from competitions, games, lottery and the like.

Random winnings of games, competitions, lotteries and the like that are not tax -free after sktl. §5-50 second paragraph, see section 2, is nevertheless regarded as tax-free if the gain amounts to NOK10000 or less, see sktl. §5-50 first paragraph. This applies, for example, to gain from foreign games and lotteries, etc. Unless the king has granted such games in this country, see above for exceptions for certain gambling and lotteries in other EEA countries.

Gains from games, competitions, lotteries and the like are considered as a starting point as random, although the chances of winning may increase by the taxpayer gaining certain knowledge, skills, etc. This is especially true where the person offering the game has the opportunity to adjust the game in a way that makes it go with a profit and only a smaller part goes back to the players. About the delimitation against winnings that are not random, see section 5. Further on poker games, see section 7.

If you have won a casino win of more than NOK 10,000, this must be stated on the tax return. You can then customer service at the Tax Administration via LiveChat if you have any questions. Remember that there may be grounds for deductions, so we encourage you to them in each case. It is important that the tax deduction is correct in relation to the winnings that have been won. You may be entitled to a deduction, which means you are left with more.

Tax Complaints Board

At the Tax Administration they also have An example which shows that it is possible to complain. It is the Tax Complaints Board that deals with such cases. You can read in detail about a case about casino play where the player has been successful.

responsible game

Whether you win at Casino or not. Casino games is meant as something that should be fun and with focus on responsible game.. However, experiencing winning is the most fun with casino games. Of course, you have no guarantee, but a gain can show up when you least expect it.

Good luck in the pursuit of a casino winning!

Sources:

Law data

The tax authorities

Lottery and Foundation- Gambling