Deposit Betting Amount Once To Reduce Tax Liabilities

Real money games

Real money games involve depositing real money on betting on real money gaming platforms. The deposit amount is taxed by a higher rate of 28 per cent in real money games. So gamers who are coming for lotus cricket ipl id or id for betting on other real money games should reduce withdrawals frequency. This simple act will help companies operating real money gaming platforms to avoid paying taxes on depositing money every time for betting.

The companies are encouraging gamers to not go for frequent withdrawal after every successful bet. This is done to reduce indirect taxes which companies have to pay to goods and services tax authorities.

In the case of fantasy sports, companies are tinkering with the win percentages, this is because it is short in hours with a huge number of participants. There are many games where the gamers used to withdraw money on a daily basis. These are poker and rummy. Not only are these two popular card games, but they attract huge attention from professional gamers.

The companies operating gaming platforms want gamers to not withdraw on a daily basis. Some companies are asking for 15-20 days per month for withdrawal. After this period, the gamer, with successful bet on lotus book247 cricket id, can withdraw a day later. Many companies want to restrict withdrawals on days like Sunday or holiday, because of heavy rush.

The purpose of the whole exercise is to keep the online gaming industry financially healthy. If the industry is healthy, gamers will get more opportunities to earn decent money as prize money after successful betting. Companies giving id for live casino or for sports and tournaments like lotus cricket id are offering joining bonus and rewards. These incentives reduce tax burden on gamers as they get some money back in their account even after paying higher taxes. If the simple act of withdrawing money on alternative days can help gaming companies, there is no harm in doing so.