{"id":1823,"date":"2018-08-03T13:53:23","date_gmt":"2018-08-03T13:53:23","guid":{"rendered":"http:\/\/www.gmtaxconsultancy.com\/?p=1823"},"modified":"2024-10-21T10:00:20","modified_gmt":"2024-10-21T10:00:20","slug":"should-you-declare-the-winnings-on-sports-bets","status":"publish","type":"post","link":"https:\/\/gmtaxconsultancy.com\/en\/tax\/should-you-declare-the-winnings-on-sports-bets\/","title":{"rendered":"Should you declare the winnings on sports bets?"},"content":{"rendered":"<p>In 2017, according to the General Directorate for the Regulation of Gambling (DGOJ), 5 billion euros were played in sports betting in Spain, an amount that has not stopped growing every year. So, it is normal that many users of bookmakers (online and offline) ask themselves <strong>questions about whether they should declare the profits they earn<\/strong>. In this article we will solve them all.<\/p><div id=\"ez-toc-container\" class=\"ez-toc-v2_0_86 ez-toc-wrap-left counter-hierarchy ez-toc-counter ez-toc-white ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">\u00cdndice contenidos<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/gmtaxconsultancy.com\/en\/tax\/should-you-declare-the-winnings-on-sports-bets\/#In_what_cases_do_you_have_to_declare_the_winnings_of_sports_betting\" >In what cases do you have to declare the winnings of sports betting?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/gmtaxconsultancy.com\/en\/tax\/should-you-declare-the-winnings-on-sports-bets\/#What_should_you_declare_exactly\" >What should you declare exactly?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/gmtaxconsultancy.com\/en\/tax\/should-you-declare-the-winnings-on-sports-bets\/#What_percentage_does_the_Tax_Agency_retain_from_sports_betting_profits\" >What percentage does the Tax Agency retain from sports betting profits?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/gmtaxconsultancy.com\/en\/tax\/should-you-declare-the-winnings-on-sports-bets\/#How_to_declare_the_benefits_of_sports_betting\" >How to declare the benefits of sports betting?<\/a><\/li><\/ul><\/nav><\/div>\n\n<h2><span class=\"ez-toc-section\" id=\"In_what_cases_do_you_have_to_declare_the_winnings_of_sports_betting\"><\/span>In what cases do you have to declare the winnings of sports betting?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The minimum amount to declare the winnings obtained in sports betting varies according to the other rents you obtain:<\/p>\n<ul>\n<li>If your work or real estate incomes exceed \u20ac 22,000 per year with a single payer or \u20ac 12,000 per year with more than one payer and the net benefits of your sports bets are <strong>higher than 1,000 euros<\/strong>, you must declare them.<\/li>\n<li>If the net benefits of bets and other capital and property gains, such as reimbursements for investment fund shares, <strong>exceed \u20ac 1,600 per year<\/strong>, you must also declare them.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"What_should_you_declare_exactly\"><\/span>What should you declare exactly?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Law 16\/2012, of December 27, stipulates that the<strong> net benefits of the game must be taxed<\/strong>. These benefits must be global, so you must calculate your net profits from all the betting houses in which you have played. In addition, we must take into account the money that we have not withdrawn and that we still have in the account.<\/p>\n<p><strong>In the case that a bookmaker gives you money to bet<\/strong>, something very common in welcome bonuses, the amount will count as a benefit when calculating the net benefit. So, if they give you 20 euros and you get profits for a value of \u20ac 10,000 and losses for a value of \u20ac 4,000, the net benefits to be declared are \u20ac 6,020<\/p>\n<h2><span class=\"ez-toc-section\" id=\"What_percentage_does_the_Tax_Agency_retain_from_sports_betting_profits\"><\/span>What percentage does the Tax Agency retain from sports betting profits?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>One of the most frequent doubts about the declaration of earnings from sports betting is <strong>how much will have to be paid to the Tax Agency<\/strong>.<\/p>\n<p>There is no fixed answer, since it <strong>varies according to the total income<\/strong>, not just the bets. Keep in mind that income from the income statement is divided into income from work, real estate capital, movable capital, economic activities and capital gains and losses. Applied the corresponding reductions, as for example if you have children, you will obtain a taxable base on which the percentages will be applied. The higher the tax base, the higher the percentage that applies:<\/p>\n<ul>\n<li>Up to \u20ac 12,450: 19%<\/li>\n<li>From \u20ac 12,450 to \u20ac 20,200: 24%<\/li>\n<li>From \u20ac 20,200 to \u20ac 35,200: 30%<\/li>\n<li>From \u20ac 35,200 to \u20ac 60,000: 37%<\/li>\n<li>More than \u20ac 60,000: 45%<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"How_to_declare_the_benefits_of_sports_betting\"><\/span>How to declare the benefits of sports betting?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The net benefits of sports betting are included in <strong>box<\/strong> <strong>253<\/strong>, where there are all the prizes obtained for the participation of games, contests, raffles, random combinations or bets.<\/p>\n<p>If you do not have time or want to<strong> make sure that you will present the income statement without any type of error<\/strong>, the easiest solution is to leave it in the hands of a<a href=\"https:\/\/gmtaxconsultancy.com\/en\/contact\/\"> tax consultant like GM Tax<\/a>. Remember that if you do not declare your net profits from the Income bets when you should or <a href=\"https:\/\/gmtaxconsultancy.com\/en\/residents-irpf-pit\/happens-not-file-personal-income-tax-statement-penalties\/\">not present it on time<\/a> you expose yourself to sanctions that can be quite high.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In 2017, according to the General Directorate for the Regulation of Gambling (DGOJ), 5 billion euros were played in sports betting in Spain, an amount that has not stopped growing every year. So, it is normal that many users of bookmakers (online and offline) ask themselves questions about whether they should declare the profits they [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[52],"tags":[],"class_list":["post-1823","post","type-post","status-publish","format-standard","hentry","category-tax"],"_links":{"self":[{"href":"https:\/\/gmtaxconsultancy.com\/en\/wp-json\/wp\/v2\/posts\/1823","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/gmtaxconsultancy.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/gmtaxconsultancy.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/gmtaxconsultancy.com\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/gmtaxconsultancy.com\/en\/wp-json\/wp\/v2\/comments?post=1823"}],"version-history":[{"count":1,"href":"https:\/\/gmtaxconsultancy.com\/en\/wp-json\/wp\/v2\/posts\/1823\/revisions"}],"predecessor-version":[{"id":13702,"href":"https:\/\/gmtaxconsultancy.com\/en\/wp-json\/wp\/v2\/posts\/1823\/revisions\/13702"}],"wp:attachment":[{"href":"https:\/\/gmtaxconsultancy.com\/en\/wp-json\/wp\/v2\/media?parent=1823"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/gmtaxconsultancy.com\/en\/wp-json\/wp\/v2\/categories?post=1823"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/gmtaxconsultancy.com\/en\/wp-json\/wp\/v2\/tags?post=1823"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}