Tax-free poker in the European Union—a booming trend worth following

Written by: Angus Letherman

For many people, poker is the highest form of gambling. While scratchcards, slots, and most table games are all about luck, poker combines luck with knowledge, talent, and experience. In this game, players actually have to know the rules in order to be successful. It is specifically this skill requirement that makes poker intriguing for experts and beginners alike. Experts are always looking for new beginners to defeat, whereas beginners are hoping to climb the mountain to one day become good.

Nowadays, modern poker faces a number of challenges. One of them is, of course, the rise of AI tools and automation. Another is that some people are getting discouraged by having to pay taxes on their winnings. In this article, we take a look at the topic of tax-free poker in the European Union and why poker enthusiasts should pay attention to it.

No one wants to pay taxes on winnings

When you think about it, taxes are an interesting concept. While no one really likes to pay them, most of us understand their importance as the necessary evil that helps the world go around. If there were no taxes at all, there wouldn’t be any public healthcare or things like basic road maintenance either. Despite all that, it remains a point of contention whether people should have to pay taxes on things like gambling winnings.

Whenever most of us play poker, we keep an eye on how much money is going out and how much is coming in. However, not everyone might be disciplined enough to also consider the potential tax implications. Taxes can make it rather difficult for you to keep your calculations up-to-date and accurate, potentially leading to situations where you might even overspend your money.

There is no doubt that all poker players would rather play somewhere where they do not have to pay taxes. To achieve this, however, you have to be cognizant of all the rules and laws that go into gambling in different jurisdictions.

The EU has several tax-free jurisdictions for poker

The European Union is both a political and economic union of 27 member states. Naturally, not all of these countries have the exact same laws on everything, but there are still certain judicial commonalities between them.

One of the most gambling-friendly countries in the EU is Finland. A northern nation of 5.6 million people, Finland has maintained a state-run monopoly on all gambling ever since the 1940s. A couple of years ago, however, Finland announced its plans to open its gambling market up for competition.

Despite the Finnish government having a full gambling monopoly within its borders, thanks to the EU, Finns have long had the legal right to take part in gambling online. The website hyvatkasinot.net is one of the more popular sites for Finns to seek out high-quality web-based gambling. All of the casinos listed on this website are fully tax-free for Finns, thanks to all of them having a license from Estonia or Malta.

If you like poker and are currently residing in a country with taxable winnings, relocating to a country with tax-free winnings could be worth considering. In addition to Finland, you can also choose from a variety of other countries, including Malta, Estonia, Cyprus, Slovenia, and Bulgaria.

Since the world has become more international as of late, more and more people have decided to move to places with lower taxation and less government control. In addition to poker, some have also done this after investing heavily in instruments such as stocks and cryptocurrencies.

Does it make sense to relocate because of poker?

At the end of the day, relocating to another country is always a multifaceted issue. Not everyone might want to uproot their whole life just to move to a country with no taxes on poker. That being said, the most experienced of poker players will likely want to maximize their winnings, and if this means living somewhere else, the jump might just be worth it. Furthermore, it is not uncommon for people to move to a different country even without such reasons.

The EU has plenty of different countries with fascinating cultures and customs, as well as some of the world’s most beautiful scenery. There is no doubt that most people will find something that fits them, if they so please.