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Should you pay tax when withdrawing winnings to a Visa card?

When transferring over $1000 or the equivalent in another currency, bank employees can transfer transaction data to the tax office. They will try to find out the origin of the money and the payment of income tax.

It is not a secret to anyone that online casinos are ‘tricky things’. People use them for money, and reversely, online casinos are using the gamblers’ attention to get the money. What’s interesting, the only party that takes the real big money is the casino site itself.

Fine, in defense of online casinos, I should say that online casinos do the dirty work collaborating with the services, providers and many more. As a result, they are presenting a ‘candy’. That is what you see – the attractive gambling site.

There are some stages that online casinos go through to make the continuous work successfully. Let’s see these steps more closely.

  1. Attention stage. At this point the online casinos attract players by ads on emails, social nets and specific sites. Once you get caught, the casino site starts handling your personality. In other words, you get attracted even more. Different bonuses and casino policy help with it.
  2. Registration. Obviously, after you get completely stuck on the site, you find yourself filling in the sign-up form. Congratulations, you’re a member of the casino.
  3. Depositing. This stage is the cream of the crop for online casinos. You give them your first funds. This money is still yours until you start playing.
  4. Bonuses. Perhaps, bonuses are the things that attracted you the most. They have pitfalls, to tell the truth. (You can read about it on our site). So, you claim for the bonus as you meet all the requirements.
  5. Games. If you started the game right with the real money mode, you will most probably lose them all (unless you have experience). So, you start betting, spinning, playing and winning or losing. It depends on RNG. The generator gives out fair and random results. Finally, you lose a part of your money that goes to the house edge (budget) of an online casino. Sometimes you win it back, sometimes no. If you want to return it, as soon as you get the total balance over your starting sum, quit the game.
  6. Withdrawal. You can withdraw at any time. Just make sure you’ve completed the bonus requirements if you’re using them. So you go to the banking page and select the payout option. Look through the methods available and fill in the form.
  7. Verification. This process takes time. If you are a newbie at the casino, it may take several days. Basically, the casino team just wants to make sure you are the real person, and not a fraud. At this stage the casino might ask for extra info and dos. You’d better give them everything they need.
  8. Payout. After the successful previous stage, they send your winning to the banking option you’ve selected. Wait for the money.

Bet wisely

Winning at online casinos highly depends on the bets that you place. This is important to bet wisely. It doesn’t work if you bet everything you’ve got. Yes, you can multiply the win, but equally fast you can lose it all. For this reason I want to give you some tips about how to bet at online casinos and benefit.

  1. Set money limits. The most useful way to bet wisely and save your budget is to limit it. When you have a certain available sum for a single game, you’ll probably waste it all, and the limit will stop you from betting more.
  2. Sort out the money amounts. Basically, it’s the same as the limits. There’s only one difference. You can place different limits on different games. For example, $400 is the limit for slots, and $430 is the limit for poker. As soon as you bet the slots limit out, quit the game and proceed to poker.
  3. Start at the lowest. No matter if you play a table game or a typical slot. Start with the lowest bet possible. You have to understand the game and analyze the gameplay. When you know how the bets are placed, or if it’s live, how other players bet, you can gradually increase the bet.
  4. Watch the gameplay. Every casino game result depends on your luck. But not only your luck decides what will be further. The randomizer gives out the symbols or playing cards. If you’ve noticed, sometimes randomizers are too generous for money. Take this advantage and raise your bet during repetitive wins. However, when they cease and you start losing, lower the bet or even quit the game. The constant one-by-one losses can damage your budget.

Conclusion

Remember these simple tips if you want to win at the online games. And keep in mind that the Bet Max button is there only for risky high-rollers or not very smart people. Betting is the key for a good fortune, use it with wits.

The most popular methods to process money to and from online casinos are e-wallets, bank transfer or cards. However, there are other special payment options that help to process money faster between casino sites and banks. For this purpose, Entropay was created. In fact, Entropay cards are mostly like prepaid cards. The Entropay prepaid card provider is VISA only. Basically, you need to register an Entropay account and connect it with your VISA card. This method is much easier when it comes to deposits.

Entropay is accepted by nearly all casinos online. In fact, all you need to have is a VISA card. The role of Entropay is ,first, to make your transactions safe and, second, to keep all your other savings separate from the gambling purposes. In other words, if something bad happens with your casino account or you somehow lose the transferred money, all the rest money will be with you in your VISA card. Regarding the online casinos that include Entropay and, therefore, VISA as a banking option, you can read the following list. These are the most reliable and visited online casinos: JackpotCity, Spin Casino, Lucky Days, Casimba, Casumo, Royal Vegas, Ruby Fortune, LeoVegas, PlayZee, Vegas Hero, PlayAmo, DreamVegas, Betway.

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