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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.

Let me guess, you have deposited to an online casino, lost in the game and now wish to receive your money back. Or ok, maybe you’ve faced a fraudulent casino? In both cases you can dispute the money, but the result will be completely different. Besides, it’s a consequential issue to dispute the charges. So, you’d better think wisely before you actually make a chargeback request.

Necessary requirements

First of all, I’d like to explain some facts to you. These are mainly the requirements by the moment you decide to dispute.

  • Chargeback is the service of bank credit cards using Visa, Mastercard, also bank transfers and some e-wallets like Neteller.
  • The request for dispute has time limits. In other words, you can make a request within 120 calendar days only. If you haven’t made up your mind during 4 months, further it’ll be impossible.

Later, I’ll describe each case (lost game and frauds) and give you the useful tips for a successful dispute of your charges from online casinos. Mind that the moment when you’ll have done it, the situation may lead to unpleasant consequences.

So, if you lose a game as all typical gamblers do right after deposit, you can’t just request for your money back. It even makes no sense. Like you deposited, you played and you lost. It’s almost the same as when you buy some food – buy, eat and are hungry again in two hours. Basically, the online casinos sell service. They give you a chance to play games for money. And the result, either you win or lose, depends on you and your actions.

Be careful!

Apparently, any attempts to dispute the money will be declined by both casino and your bank. For the reason that the service was provided, thus you played, and you got a fair result, so face it. There is only one possible reason to tell the bank. It’s charging the online casino of faulty activity. Starting from rigged games and ending in a totally fake fraudulent casino. However, be realistic, this statement will need proof. Very likely that the online casino will provide all the records where it states that you have played the games and successfully lost the deposited money. As a result, the dispute request will be declined. Unless you have a true proof that you’ve been deceived, you can’t take money back.

Is it still possible?

Speaking of a true situation with online frauds, whether it’s a fake casino or just someone has stolen your credit card, it will be much easier to prove. With such a statement and no visible authentic proof of a contrary, the bank will charge the money back. But it’s not a relief for you. This time you need to prove that the online casino provides faulty service including evidentiary material of a licence absence and rigged games. The former you can find out, no problem, but the latter is hard to get. The RTPs are private records of the service provider. Although it’s hardly possible to request for chargeback, stars can align and somehow you’ll get the money back.

Still after the dispute come the consequences. Get ready to be banned by the online casino. Most probably you’ll get into the blacklist of the company and all associated online casinos. Even though your request is accepted, and everything seems fine, your further chargeback requests will affect your gambling reputation. Thus you’ll not avoid the blacklist.

Conclusion

All in all, I recommend thinking thoroughly before making the actual request. Mind that whether you are right or wrong about the casino service, it may lead to the court. Trust me, it’s not worth it with all the further court consequences unless you’ve deposited a million dollars which I really doubt.

At the present days there have appeared a lot of payment systems. They all are secure and fast. Ecopayz is one of them. Basically, it is an international e-wallet which processes money online quickly and safely. It has become popular among online casinos. By 2020, almost every Internet casino allows you to deposit or withdraw through ecopayz. NZ players are glad with the service too. They choose ecopayz for the following reasons:

  • Ecopayz accepts NZD currency.
  • The system is worldwide.
  • No need to enter your bank card info.
  • On the other hand, ecopayz can be connected with cards and send money to your bank and backwards.
  • Protects your private info and adds a security layer to transactions.
  • Fast as lightning for deposit and withdrawal.

Ecopayz is definitely an advantageous method of payment. To make a transaction to or from an online casino, you only have to know which gambling sites accept ecopayz. Let me list the most popular and safest of them available for New Zealand players. You should remember one thing: clarify if the online casino accepts ecopayz for both-way transactions.

  1. Casumo
  2. Spin Casino
  3. Lucky Days
  4. Night Rush
  5. Dunder
  6. 888 Casino
  7. Casino-X
  8. Genesis Casino
  9. Royal Panda
  10. Yako Casino

Why people choose slots?

Slot machines are the most attractive for players online casino games. It’s obviously clear why people choose slots. They are easy to play. You don’t even need to think much. Just bet and spin. Slots also have an impact on visual perception. Everyone likes to look at something bright, shiny, and especially, with a story behind.

Why people don’t play slots ?

This all is good, but no one sees that slots are the least profitable. Their theoretical return to player slightly exceeds 97%. In fact, the average percentage of slots RTP is 94%. Can you imagine? The 6% of your money goes to the online casino. So, basically you don’t even get paid more than you have deposited.

Hence it gets almost impossible to win on slots. Better to say, you can win but it’s difficult to keep the winning result. Though there are several ways to move closer the chance of leaving the game with a satisfactory feeling.

How to win slots?

  • Choose the right slot. Saying the word ‘right’ I mean the high RTP. Remember that for beneficial results the slot’s RTP must be over 95%. If it’s lower, it’s not even worth trying. Before starting to play, check the game rules. There you’ll find the percentage.
  • Start on minimum. Don’t bet much from the very beginning. Most probably your first rounds will be failing. So, it makes no sense. Wait until you make about 10 spins and only then raise the bet. But also gradually.
  • Play with bets. Concerning the fact that casino games are spun by random number generators, you can equally randomly change bets. However, don’t practise it excessively. When you feel like winning, raise the bet to get the higher pay. Then again if you have constant failing results, lower it on minimum.
  • Stop on time. The best thing that you can do for your winnings is to quit the game. As soon as you win higher than your initial balance, quit it. Don’t make another spin thinking “the next gonna hit higher!”. It won’t. RNGs are meant to decrease your budget after a successful big win.

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