Top court rules losses on online horse racing bets are tax deductible

This rewards criminality. People who win bets on horseracing or speculating on the stock market should be heavily taxed. They are trying to get something for nothing. That is criminality.

Bertiewooster, “The are trying to get something for nothing” With that in mind, people should be charged for going out in the sun, or growing vegetables and then selling those vegetables should be charged proportionally. By betting on horse racing or other such there are industries that employ people and pay tax. (There are many people especially in government doing nothing productive but still get paid, is that also criminal.)

Gambling is a vice like drugs and prostitution. Needs to be taxed to pay for treatment and victims.

I do not gamble and I share the sentiments that gambling is damaging to society.

However given the fact that profits from gambling are taxable then losses should be deductible. The court is telling the government that they cannot have it both ways.

I knew a guy that was a gambling addict a couple of years ago....not at all a bad person...but he was addicted, no doubt about it. Gambling destroyed his family and ultimately destroyed his life. Several of us (friends) tried to get this guy to stop in various ways. However, gambling on line made it so easy for him to lose his life savings and put his family in debt. It was pretty hard to watch.

With that said I think on-line gambling should not be legal. From what I saw it is much different than actually going somewhere, laying your money down, and potentially losing it.

what!?!?!?!? insane you can NOT give incentives for gambling with tax codes that is ludicrous

what!?!?!?!? insane you can NOT give incentives for gambling with tax codes that is ludicrous

Then the government should neither be able to tax winnings. It's trying to have it both ways is the problem.

Tokyo_engr

That is such a tragic story. I'd hate to watch someone I care about going through the same thing.

That said... The money people use for gambling is theirs and has already been subject to tax. How they choose to spend it should be up to them. It's true the GOV can't have it both ways.

So let's just make all winnings tax free. The gambler takes all the risk. he should receive all the reward.

Damn, I should have been keeping all my old Loto6 tickets to deduct at year end!!!

I do not gamble, many of my friends do though.

Most of them give themselves a money limit and if that is gone they stand up and leave.

Back here me we reach adulthood at age 18 but entering a Casino (Monaco syle) is only allowed after age 23.

To each their own.

Next up Pachinko, slots, and prostitution.

lemme know when drugs and prostitution are deductible

... the plaintiff, a civil servant in Hokkaido...

> According to a Tokyo High Court ruling, the man bought betting slips worth 7.27 billion yen in total from 2005 to 2010 online for a net gain of around 570 million yen.

OK, so over 5 year, he had at least 7.27 Billion, yes Billion in Cash available to spend upon online betting....

just how much does this Civil Servant get paid ? And if not, from his State employer, where did that money come from ?

Curious one this.

I wouldn't allow gambling losses to be used to offset other income tax, which this guy is doing, because gambling is entertainment, it is not an investment. Gambling should be taxed separately of income tax because it has social consequences.

If we go down this route, people could claim everything they buy is an investment. Those shoes I bought at ABC Mart, I bought them because I thought I might make a profit reselling them on Yahoo Auctions. The same with that concert ticket, that car I was going to customize, that house I was going to renovate, .... You'll end up with no-one paying any income tax.

so basically professional gambling is now classified as a business enterprise instead of a personal habit. Then again if governments say that winnings from gambling is taxable then it should be fair that losses from this same gambling should be tax-ductable, goes both-ways. I dont condone profession gambling but understand the mans views, good decision by the courts

Gambling should be taxed separately of income tax because it has social consequences. I dont agree, if governments are fine with taxing your winnings, then they should be fine with tax-deductions on your losses also. If governments had a moral compass they wouldn't allow gambling at all and certainly not tax it, but no they're the first ones with their hands out should you have good fortune.

Tough one, claiming a loss as a deduction tax payers loose too. Claiming a win paying tax Seems not balanced. Goes both ways. As most gambling is illegal as is paying for sex. Looks like the government, courts are gambling on a money grab again. So the government are gambling, the courts too, how many ball bearings will be taxed? I have been hoarding ball bearings, and washing machine soap powder. That's a dead end now.

In Thailand/Laos/Burma/Cambodia, boxers in villages have to come up with half the money for a match. Back then, about $50-100. If they win they get double money back, lose, zero. But good fight, donations. The promoter gets entrance fee and food/drink sales. Gamblers get good or bad luck and don’t pay tax unless they have mafia problems. Everybody seems happy and the sport makes people happy. When the authorities take a cut, the sportspeople get less.

Gambling should be taxed separately of income tax because it has social consequences

Interesting, it's not the "social" consequences that they should be taxed separately, but as a luxury tax, which would have a higher rate.

You want to tax "social consequences" type issues then you'd better tax alcohol, tobacco and other related products and services that affect society as a whole.

Aren't alcohol and tobacco already taxed separately to other consumables?

I would tax gambling because it is addictive. Some addicts require treatment and some become mired in crime and debt. These all place a burden on society, so you tax gambling to partially pay for these things and to discourage gambling in general.

Any money spent on gambling-based entertainment is simply not being spent on something else, so I disagree with the "it creates jobs" angle. It creates more misery than jobs. The number of jobs created by a room full of poker machines is minimal, the number of good jobs is zero.

I'll finish by saying its nice to watch sports in Japan without being bombarded with ads for gambling as in the tax haven/banana republic that the UK is increasingly becoming. British people (men) are being increasingly brainwashed into believing you have to have a bet on to enjoy spectator sports. It is almost every advert during football matches and now the Ashes cricket. They are even targeting podcasts about sports.

This rewards criminality. People who win bets on horseracing or speculating on the stock market should be heavily taxed. They are trying to get something for nothing. That is criminality.

You work for a Japanese company right? You get paid to sit around right? That's just as "criminal" as you are getting "something" for nothing, right?

The very idea that people who speculate in the stock market or who gamble are getting "something" for nothing is ludicrous.

They are spending money, however they earned it they are using money to fund their activities, so it reality they are not getting something for nothing, they are making an investment, a bet, on winning.

Aren't alcohol and tobacco already taxed separately to other consumables?

Of course they are, but not for the "social consequences" idea that was put out in another post. One could make the argument that ANY activities have social consequences, if you want to dig deep enough to justify your position.

Any money spent on gambling-based entertainment is simply not being spent on something else, so I disagree with the "it creates jobs" angle. It creates more misery than jobs. The number of jobs created by a room full of poker machines is minimal, the number of good jobs is zero.

So now YOU and others are going to play God and tell people how they should be spending THEIR money? You want to control how I choose to use MY money? Get outta here!

They are trying to get something for nothing.

That applies to the government as much as the gamblers. Leaving aside the commission taken by the betting companies, overall winnings equal overall losses. There is really nothing to tax (except the betting companies' profits). If you want to discourage betting (a sin tax) or raise money to treat the social consequences of gambling, any tax should probably be set on the original stake and deducted at source. But offshore betting on the internet will lead to money going to overseas companies and the government will lose revenue from domestic betting companies. (The UK stopped such taxes some years ago for this reason.)

the dude needs money for mental treatment... he lost 5 times his earnings...

Time to go the the race courses to pick up all those tickets littered around the places.

any tax should probably be set on the original stake 

Which is already done with Pachinko, and on the exchange with slots, the tax is taken off the top of any winnings.