[brknmg]

I'm looking for some information.
I'm planning to move to Malta and start betting there, but I need some information about paying the taxes after winning. How much do you need to pay? Is it legal to play at non-licensed bookies?
(I'm planning to play at sportmarket or BetInAsia, I'm sure these bookies don't have any kind of contract with the maltan government)

I heard that you can do this as self-employed, and under 9k euros you do not have to pay taxes, then 15 and 25%.
But is it OK for sport betting?

Anybody from there?

[ichiro4thehall]

I forget the actual rules and law but when I was there it was only money basically that you had in Malta that could be taxed. I had bank accounts in other countries and never used a Maltese bank account so paid nothing. This was right at the start of the Maltese gaming boom and as I was leaving there were more and more murmurings about taxing nomad workers and poker players as there were so many.

What is legal though and what are the chances you are ever caught are two different things. I can't actually recall seeing police officers in Malta. About 3 families run the entire government and bureaucracy so it's not exactly a meritocratic and efficient system. Even if the laws have changed and you now need to pay tax on gambling winnings, I think the chances of you being caught are tiny, especially if you live for only a year or two there.

I think Betfair was the only site I had issues with when i was there. They were newly licensed in Malta and Maltese citizens were not allowed to play and they were quite strict about that to protect their license and my account got flagged a few times. Again that may have changed.

IMO there are far, far better countries to live in if you really can support yourself from gambling and sports betting. Where are you now? I def preferred South America and Mexico to Malta in every regard, cost of living, friendliness of the people, the women etc. I planned to but never tried South East Asia - Thailand, Vietnam etc but I'm sure i'd prefer them to Malta, too.

Anyway, if you're sure you can win go for it and GL. You'll never regret living and experiencing a new country and culture.

[Mr KLC]

[brknmg]

I forget the actual rules and law but when I was there it was only money basically that you had in Malta that could be taxed. I had bank accounts in other countries and never used a Maltese bank account so paid nothing. This was right at the start of the Maltese gaming boom and as I was leaving there were more and more murmurings about taxing nomad workers and poker players as there were so many.

What is legal though and what are the chances you are ever caught are two different things. I can't actually recall seeing police officers in Malta. About 3 families run the entire government and bureaucracy so it's not exactly a meritocratic and efficient system. Even if the laws have changed and you now need to pay tax on gambling winnings, I think the chances of you being caught are tiny, especially if you live for only a year or two there.

I think Betfair was the only site I had issues with when i was there. They were newly licensed in Malta and Maltese citizens were not allowed to play and they were quite strict about that to protect their license and my account got flagged a few times. Again that may have changed.

IMO there are far, far better countries to live in if you really can support yourself from gambling and sports betting. Where are you now? I def preferred South America and Mexico to Malta in every regard, cost of living, friendliness of the people, the women etc. I planned to but never tried South East Asia - Thailand, Vietnam etc but I'm sure i'd prefer them to Malta, too.

Anyway, if you're sure you can win go for it and GL. You'll never regret living and experiencing a new country and culture.

Thanks for your information.
I'm living in Europe, don't want to tell exactly where I have to stay close to this country, so other contintent is not an option.
Our taxing laws for betting are insane, you have 1 bookie where you can play, and that is the worst you can imagine, that's why I want to move to a country like Malta.

I'd like to do it 100% legally, I'd rent a room, live there for a while, open a bank account in Malta (or maybe Neteller with my maltan details), and try what I can make with a brokerage. But first, I want to know everything about this, and maltan taxing, laws, etc. I'm talking to an accountant, she will help, but that's some time, so I'd like to get info what I can. And maybe make an article about this thing after all...

[brknmg]

I watched it, but I didn't really understand a single sentence of it I think this is useful for companies, not for me, who wants to only gamble there.

[lonnie55]

I remember this quote:

edit: Since I saw some people mentioning Malta I want to say that I researched about Malta aswell and from the ppl I contacted living there it seemed like they didnt give a fck about taxing sports betting, but I contacted Malta's tax department and I was told you had to pay taxes from sports betting's winnings, so it's probably not a good idea to move there if you win big amounts.

[lonegambler23]

are you some betting guru?

[gamblehappier]

Does anyone know how many physical betting shops Malta have?

[mysticles]

Thanks for your information.
I'm living in Europe, don't want to tell exactly where I have to stay close to this country, so other contintent is not an option.
Our taxing laws for betting are insane, you have 1 bookie where you can play, and that is the worst you can imagine, that's why I want to move to a country like Malta.

I'd like to do it 100% legally, I'd rent a room, live there for a while, open a bank account in Malta (or maybe Neteller with my maltan details), and try what I can make with a brokerage. But first, I want to know everything about this, and maltan taxing, laws, etc. I'm talking to an accountant, she will help, but that's some time, so I'd like to get info what I can. And maybe make an article about this thing after all...

I spend around 1,5-2k per month living here. Honestly no idea about taxing, as bookmaker payouts etc are tax free. Why would u need broker? U can have direct access to bf (5% - for some reason they havent applied uk rewards here [2%] ), smarkets, matchbook. pinnacle and so on.
Opening bank account is long process tho, personally i use my own country bank still. havent had any need to make one here.

About betting shops, there are some. most popular is izibet and followed with meridianbet. While their online odds are great, in terminal its total garbage. I dont have big example as i been on betting shop only once in my life, it was full of "regulars" who happens to be black so honestly it felt bad to be there (no racism but just the way they were made me extremly uncomfortable). for example their online odds were 1.4 then on terminal it was 1.33 or so... but yeah, it was one time only so maybe some other markets / days margins are bit lower.

[gamblehappier]

Mysticles useful post but you really spend enough money there per month.

As i understand betting shops provide lower odds,but who knows they may have some goldmine odds in exotic leagues/markets.Useful info man.

[mysticles]

Online their max bets on lower leages are super low tho (at least on izibet). Think on english L1 or L2 (not that small league) online max bet was around 20-30e only (new account on big leagues i could get easily 1k+ stakes). maybe on terminal its better...there are some small brand terminals also but like i sayd, i havent really visited and dont have much knoweldge as its not necessary for my betting needs.

[sweethook]

dont know .. but you can move to Mullins SC. no tax there on gamimg . gl

[jjgold]

Talk to a professional tax guy in Malta not some idiot here with no clue

[brknmg]

Jogador sent me a PM, I can't answer because I have to make 40 comments in threadts. What the f*ck is this dumb thing... I'll spam some later and then answer.

And answer this thread later. Thanks for infos guys.