The 2021 Gambling Agreement regulates not only online casinos, but also poker on the Internet. Although online poker is now subject to nationwide regulation (and thus official permission) for the first time, no licenses have yet been issued. Instead, providers who comply with the licensing requirements are more or less officially tolerated.
Gambling regulation and taxes
Part of the online poker regulation is a percentage of 5.3% that poker sites have to pay to the Ministry of Finance. Unfortunately, this special tax is not levied on the operators’ profits, but on the tournament buy-in or the money you take to the table in a cash game.
As a result, some providers have eliminated parts of their offerings, while others have increased the rake and fees for buy-ins.
Do I have to pay taxes on poker winnings?
You don’t have to pay taxes on gambling winnings. Although poker is generally considered gambling, the situation is a bit more complicated.
If you usually earn your living by playing poker (online, in a casino and/or in tournaments), then your net winnings are subject to income tax.
However, if you are a hobby player, then even a one-off large win does not have to be considered income – and therefore does not have to be taxed.
Online poker versus live poker
Now it’s time for the big comparison: Where is poker better? On the internet or live on site? Where is it easier to win and what suits which type of player best?
The Stars
To make it more human, let’s first look at a few faces from both worlds. Some of the most famous personalities in the live poker scene are:
- Phil Hellmuth: His nickname is The Poker Brat. He can bully other players at the table and is a diva, but he can also be quite nice. In 1989 he won the World Poker Championship (WSOP Main Event).
- Phil Ivey: He has never won the Main Event, but he is world famous. This is due to his high-stakes games, his willingness to take risks, his many crazy side bets and a spectacular dispute with the Borgata Casino. He won several million dollars playing baccarat with a clever trick, but had to pay the money back.
The following players have achieved international fame on the Internet:
- Isildur1: The Swede caused a stir when he suddenly started playing cash games on the Full Tilt platform for extremely high stakes, which were actually reserved for established poker professionals. Within a short period of time, he won and lost several million euros. His real name, which was unknown at the time, is Viktor Blom.
- CrownUpGuy: Fedor Holz is the man behind this nickname. He rose to prominence by winning an online poker tournament worth millions.
Comparison Poker online/Gambling house/Tournament
When you play poker online, it is the most convenient and almost stress-free alternative. You can concentrate 100% on your game and will not be distracted unnecessarily.
In the casino, you’ll often be seated at the table with other regulars. In live cash games, you may be able to read other players, but you might also have some tells of your own.
Larger tournaments promise adrenaline and big chances to win. But realistically, they end quickly for most players.
Is bluffing easier online than in live games?
When it comes to bluffing, some say this, others say that. If you’re a good actor, you may be able to mislead other players in a live game with certain facial expressions, gestures and statements. Even trash talk to throw other players out of the game is only possible in live poker.
On the other hand, you don’t have to hide your weak hand when bluffing online.