What amount can be withdrawn from bet365
bet365 betting tax
Taxes yes or no? - that's how it works at bet365
Since July 2012, German sports betting customers have been obliged to pay betting tax. This is stipulated in the Lottery and Race Betting Act. Since this also affects British bookmakers, for example, the provider Bet365 must also levy a tax of pay five percent to the German state. Of course, German sports bettors are at a disadvantage compared to customers from other nations, but we are initially concerned with how Bet365 handles the betting tax.
Bet365's betting tax is only charged in the event of a win. In this case, five percent will be deducted from the gross winnings. There is no betting tax for lost bets. All conditions can also be read in the terms and conditions, in which the betting tax has been listed since November 2012.Bet now at bet365
The betting tax calculation in detail
We have extensively tested Bet365 regarding betting tax. We have found that the bookmaker, like many other providers on the market, only deducts the tax from winning bets. From July to November 2012, the British provider tried to exempt its customers from the betting tax and to bear the burden themselves. When looking at the relatively high payout key with an average of 94%, it is no surprise that Bet365 did not follow this procedure for long. Inevitably, the provider would make great economic losses.
Practical example of the bet365 betting tax
With a stake of 100 EUR at a betting rate of 2.50, the gross profit is 250 EUR. The five percent betting tax (EUR 12.50) is deducted from this before the amount is credited to the user account. Ultimately, a credit in the amount of 237.50 EUR. Anyone who complains that the betting tax was only five euros when the bet was placed and too much was deducted is wrong. If you deduct the EUR 5 betting tax from the EUR 100 stake, EUR 95 remains. 95 EUR x betting odds 2.5 = 237.50 EUR profit. For German sports betting fans, the profit remains the same after deduction of betting tax.
With a stake of 100 EUR at a betting rate of 2.50, the possible gross profit is 250 EUR. If you bet incorrectly, the stake is lost, but no additional betting tax is levied. In this case, Bet365 forwards the five euros to the German tax authorities.
In general, the betting provider is therefore obliged to pay a tax of five percent on both won and lost tickets. This “mixed calculation” chosen by Bet365 is definitely profitable for German customers. Surrendering a small part of the profit gained is usually not a problem for customers.
The betting tax when playing with bonus moneyBet now at bet365
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