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Do I have to declare online casino winnings?

Taxes in NZ

Usually, after the successful winnings you will be presented with funny music and flashing lights. However, we need to know whether the gamblers should pay taxes or not. Take into account that the taxation process depends on the particular country. For example, in the US, if the winnings are more than 1200$ you have to make a report. Moreover, you have to prove the identification information of your age and passport. So, in the US you have to pay tax up to 25% depending on the certain game. However, in Canada or New Zealand, there are taxes free. In fact, New Zealander have to pay income tax, but it’s very unusual for winnings to be taxed.

Conclusion

The declarations of your winnings are required in few countries, including the US. However New Zealanders can play for money and win a lot without any taxation from the government.

If you want to play in an honest casino at low rates, then the best option for you is Jackpot City: here, for most slot machines, you can turn on the low stake mode, and play with a minimum deposit.

We are all convinced that online casino games are totally randomized. Of course, every game rules tell us about an installed RNG. Moreover, there are special independent authorities like eCOGRA that approve fairness of results. Well, do you believe it? Are they really that random? Then try to answer another question: why do you notice absolutely cold rounds that bring you no winnings?

How RNG works?

The fact is that RNG is probably not so random in reality. What hides beside the online games is the computer. A counting system that knows you’re winning or losing and, accordingly, gives out the spin results. The computer is programmed to maintain the payout percentage of a casino. Thus you never win much.

There is something wrong with randomization. For example, you might notice a losing track of spins until you get to the lowest. And then suddenly you hit a streak of successful rounds raising your balance back to normal or even more. This process is made by a smart computer with algorithms. No matter if you play at an online casino or land based one.

Judging by this and other ‘unpredictable’ results, I can only say that online casinos must use the special algorithms to make some spins cold. Usually, the cold track lasts until your balance is low enough. During this time you might have done 5 or 10 or 20 spins. It all depends on your budget and counts accordingly by the computer.

Later comes a moment of raising the balance level. If you notice the repetitive positive results, that’s it. My advice to you is to spin until you overcome your initial balance then stop and go withdrawing. If you know where to finish gambling game, you are a winner. After the payout, you can deposit again and the computer will work with the new balance sum.

This article consists of three paragraphs, three main questions which identify the trusted casino. After reading the page you will be able to identify the safe indicators of the casino.

The page consists of:

  1. Main indicators of a safe casino
  2. Is it legal?
  3. Is it fair?
  4. Data protection

When we think about the safety, we usually ask three questions: is this online casino legal? Is it licensed?, and is it fair? By answering that, you will be sure that a casino has only excellent intentions toward players. All the casinos on our site have these characteristics, and that’s why.

It’s legal

In fact, all the casinos are licensed and regulated by reliable gambling commissions. The list includes Malta Gaming Authority, UK Gambling Commission, Kahawake GA, Swedish Commission. As a result, the casino from the rating consists of one or several of these regulators on the board. The reliability of these regulators are without a doubt, you can check all information about them on the official site of gambling authority. In the review of any casino you will find a small description of regulators. All in all, if you’re over the age of 18, you can easily sign up and play.

It’s fair

It’s important to realize that casinos and games are checked by audit company eCOGRA, to make sure that all random generations are fair and show honest statistics. Moreover, it checks the RTP of the particular casino to prove the declared rates.

You’re protected on the site

Deposits and payouts require a high level of security. As soon as you make any money transaction, the information will be transferred through the encryption technology. The example of such technology is SSL (Secure Socket Layer). Millions of sites use it to transfer the data from merchant to customer in the most secure way.

Conclusion

Any gambling activity has risks and it’s very easy to lose more money than you want. Sometimes it can be hard to stop. For that reason, casinos provide a list of rules and methods on how to prevent any type of gambling addiction.

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