Today I would like to talk to you about a topic that is close to the hearts of many gambling and online betting enthusiasts, namely how to escape the jaws of the ravenous and never satiated “Tax Agency”.
The rough question stems from the fact that Agency-Monopoly-Fees demands (under threat of sanctions and blackout / prohibition of sites not their complacent) from operators – national and international operators that operate betting sites and online casinos – to forfeit a large “slice” of winnings and revenues without taking into account the losses incurred by players.
What are the numbers of the game in Italy?
According to Confcommercio-Acadi, public gambling in Italy is worth 14 billion a year, 1% of GDP and generates 8 billion in revenue for the Treasury, and if we take away the comfort of dealers / “website operators”, very little returns to those who play !
With the tax increases until 2019, without considering those of the current manoeuvre for 2020, according to the Confcommercio-Acadi report, the tax levels of Awp and Vlt reach 70.5% and 55% respectively.
In the five-year period, from 2014 to 2018, the regulated gaming market grew by more than 4%.
The online market has had a continuous growth over the period, more than doubling and with an increase of over 18% in 2018 compared to 2017.
That slots, lotto and scratch cards and now online games are traditionally a source of revenue for the treasury is no mystery. Punctually, when the cashier’s needs dictate it, the PREU (the state’s share of every bet) is automatically reset and now the same policy is also applied to online gaming. Under these conditions, it is obviously almost always the bank that wins, while the Italian government, with the Budget Law and the related fiscal decree for 2020, returns to use the public game as an ATM to make cash (in the face of all the hypocritical proclamations in favor of the fight against ludopathy).
It was obvious that many gambling enthusiasts put in place strategies to neutralize the greed of the “Beast”.
The first trick to be able to attend and play on websites outside the nefarious influence of Agency-Monopoly-Fees (ex Tax Agency) is to always use a VPN to protect your anonymous browsing and move safely on the web.
This alone is not enough, in a state of police and fiscal repression that increasingly resembles the GDR (ex Communist East Germany that had nothing democratic).
And it is very easy if not automatic for those who have control over the computer, banks and national and European financial databases to trace every single electronic transaction (even of a single cent).
When you place your sports bets on the sites of non Tax Agency operators, the time will come to choose the method of payment / withdrawal. In fact, you will have to choose how you replenish your gaming account and/or withdraw your winnings, there are several options available to you, they are not all the same, each has its advantages and disadvantages.
One option is to use payment systems not belonging to banking institutions (not traceable to a personal iban), then we present some of the possible solutions for deposit and withdrawal of currency on online casinos and sports betting sites that seem to us more effective to operate online, we talk about e-wallets such as the e-wallet wirex..
So far the traditional – and most used – solutions for online betting in anonymity and on “non-Agency-Monopoly-Fees” sites.
But the new frontier of privacy is represented by cryptocurrency, which came to the fore at the end of 2017, when the bitcoin reached the incredible exchange rate of 1 to 20,000 dollars. Throughout 2018, the market went down and the bitcoin dropped to pre-2017 levels, i.e. under 4,000 dollars, to reach at the beginning of 2020 (January 12) over 8,000 dollars.
Nevertheless, digital currencies have progressively become an increasingly widespread payment method and the blockchain technology that supports them is now used by many companies and even by banks and official financial institutions.
The Bitcoin is now recognized as an extremely secure system of financial transactions, is slowly becoming part of our everyday life, so much so that it allows, even favoring bitcoin betting as the most secure and untraceable method for those who love betting and gambling online anonymously.
This real “digital revolution” (which allows in fact to exclude banks from the management and manipulation of money) could not leave out the world of online gambling and betting and as a logical consequence begin to appear the first betting sites that accept bitcoins and other crypto currencies as a normal method of payment or withdrawal.
Accepting and using also crypto currencies, both for deposits and for withdrawing winnings (commonly referred to as “bitcoin betting”) allows a great advantage in anonymity that leads many users to prefer non-Tax Agency/Crypto-friendly sites over classic Agency-Monopoly-Fees-licensed bookie.
How can you get and manage Bitcoins?
First of all, just as with banknotes, you must have a container or wallet or a “bitcoin wallet”.
There are several, both personally manageable on your own manually from your terminal (PC, tablet or smartphone with OS windows, Linux, Apple, Android), or delegating the management to e-wallet that in addition to managing online your € and / or $ can also manage the crypto currencies ( example: the e-wallet wirex) and even dedicated hardware.
let’s try to simplify with a classification:.
1) Mobile wallets (on smartphone and/or tablet) android & ios
Pros) are portable and convenient; ideal when making face-to-face transactions (in the physical presence of the seller and/or buyer).
Designed to use QR codes – for fast and seamless transactions
Cons) marketplaces applications may delete/remove your wallet and/or make it difficult to receive future updates
Damage or loss of the device can potentially lead to a loss of funds
2) Desktop wallets (desktop) on PC linux, mac, windows
Pros) The environment allows users to have complete control over the funds (linux is the safest)
Some desktop portfolios offer support for the hardware portfolio, or they can function as full nodes.
Funds can be recovered if a device is damaged or lost by carefully preserving a seed “seed” that allows the wallet to be rebuilt from any PC.
Cons) Difficult to use QR codes when making transactions
They are susceptible to malware/spyware/viruses that steal bitcoins – more frequent with Windows – the remedy is to create a linux system (even minimal and/or on external USB/SD disk) that is turned on and used only and exclusively for the time strictly necessary to perform transactions with cryptovalue and turned off and disconnected from the network when not necessary strictly under the protection of a serious VPN (avoiding any unnecessary access to potentially malicious sites such as porn sites and games/gadgets for children) .
3) Web wallets
Pros) Easy access from several devices, (a web browser or app is sufficient)
Funds can potentially be recovered if a device is damaged or lost
Cons) Service interruptions can make it difficult to access funds
If the platform of a web portfolio is breached, your funds are at risk
In the past just like some banks also some e-wallets failed/went missing (e.g. MtGox and Bitgrail).
4) Hardware Wallets
Pros) One of the safest methods to store funds
Ideal for storing large quantities of bitcoin
Cons) Difficult to use on the move; not designed to scan QR codes
Losing your device without proper backup can make your funds unrecoverable, so it is essential to run them properly.
According to my opinion:
A) the app solution on smartphone/tablet is good for handling small amounts of money in daily use
B) the Web Wallets solution is just as good for small amounts of money and is convenient because it operates from PC or mobile via web-browsers and apps. example: the e-wallet wirex.
C) the Hardware Wallets solution is safe as long as you make backups regularly and keep them properly.
D) Absolutely the best for security (as long as we mean a minimum of linux systems) is an HD SSD (32 GB and up) with external usb adapter and installed a Debian OS, Ubuntu, Mint, MX ( HD encrypted and with a serious password of at least 20 characters ) and Electrum as wallet.
With Electrum , the system/HD should also be stolen, destroyed or forgotten…
you can rebuild it with the seed, which is a single 12-word password.
download Electrum only and exclusively from https://electrum.org/
e-wallet allowing € and/or $ conversion to Bitcoin and other cryptocurrency: wallet wirex.
want more information on “bitcoin betting” ?
if you need step by step instructions to start using Bitcoins for online betting
and learn how to use the related wallets follow me in the next article: