If a poker player has won an online poker game, at some point he will transfer his victory directly to his personal bank account.
The victory in playing online poker is always paid into the personal account of the poker player, usually the player account he uses to open and fund his poker account. Poker companies usually provide several payment methods; Usually involving online payments such as moneybookers or netteller. Usually the poker player account is linked to the local checking account of the poker player.
Poker companies provide the possibility to fund owners of poker accounts by using prepaid cards, which can be purchased at gas stations, poker players are not allowed to receive full profits. Depending on the number of winning numbers and regularity, the player’s privacy information will leave traces on the internet and may be used by other players with malicious intent. For many players personal data protection is as important as tax evasion. Online poker sites take efforts to prevent ‘identity theft’ but the financial institution itself remains at risk.
Identity theft of poker players is a major concern of all poker players, according to a recent study. The number of identity thefts reported annually involving personal information of poker players indicating that distrust of financial institutions is justified, and that people who are actively structural on the Internet, and they earn money thus you should be very careful.
Taxation Poker Profits
Taxes on the benefits of playing poker can be avoided. Poker players can claim to live in countries like Ireland (performed by many European players) or other tax-exempt countries, or they can cooperate with foreign companies “sponsorship agreements”. This choice is in most cases very complex for small poker players. But now, there are several options available for smaller poker players.
Through foreign companies, together with bank accounts in Switzerland or other Bank paradise, poker players can operate anonymously and profit will be received in a safe environment without any trace of operations in financial institutions or poker companies. In this environment, tax strategies can be made which Match the needs of these poker players; This ensures that players act legally and without risk.