The legal situation surrounding online sports betting in Germany is unclear. There are simply no clear regulations or laws. There is currently not a single online provider that markets its tips with a German license. This is all the more surprising when you consider that Germany is a huge market. Nevertheless, all reputable providers work with permits from other EU countries. Due to the freedom to provide services within the European Union, bookmakers are also allowed to offer their bets in Germany completely legally. The online betting offers are therefore safe.
Do you have to pay taxes?
Winnings from sports betting are not taxable. Gambling is always exempt from tax. This is easy to understand if you turn the coin around. If winnings from sports betting and other gambling were taxable, losses could also be taxed. Of course nobody wants that. Since they are not subject to the Income Tax Act, you don’t have to pay taxes on your winnings either. However, the state receives tax revenue from betting shops.
How are such gains actually possible?
Anyone who is wondering how such a bet win is even possible does not yet know the principle of the combination bet. This consists of several different bets. In order to win, all tips must add up. If only one tip of the combination does not work out, the entire bet is lost. In principle, combination bets can contain tips from different leagues and at different times.
Theoretically, one can speak of a combination bet if there are two or more paired picks. The high overall win comes about because the wager is multiplied by all the odds that are being played. Due to the multiplication of the bet stake by the odds offered, combination bets have the advantage of being able to achieve a large profit with a relatively small stake. On the other hand, the chance of winning is not high either.
How are betting odds calculated?
A betting odd describes the factor by which the bettor’s stake is multiplied if he wins the bet. The betting shops determine the betting odds. They are based heavily on the stakes of other players. In this way, the betting shop like Kubet House makes a profit regardless of the outcome of the game. This is called the bookmaker’s margin. The technology is crucial. The betting shop first determines the probabilities for games. In addition to state-of-the-art tools, the betting office’s assessment also influences the odds.