Is sports betting legal in Canada and do you have to pay tax on winnings?

Nov 5

The type of sports betting i’m referring to is placing bets on offshore internet sites.
Many people aren’t 100% sure if placing a bet is legal and if you have to pay tax in Canada, so I’d like some solid answers if anyone knows.

betting, Canada, legal, sports, winnings

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Ptsie

November 5th, 2009 at 5:22 PM

Yes and yes. It is legal to wager on sports online with offshore sportsbooks in Canada. Yes, you do have to pay tax on your winnings, but you can claim your losses against them. You will find my recommendations for reputable sportsbooks, and yes I use them myself! @ http://GamblingReviewsSite.com I live in Ontario and have had no problems over the past 10 years with any of them. You will also find my free daily sports picks too, join the conversation on the message board as we help each other smash the books!
GamblingMaster

November 5th, 2009 at 5:27 PM

Yes, sportsbetting in Canada is absolutely legal. I guarantee you cause I have friends that play online. I suggest you to visit http://www.bettingwise.com/
for info of the best sites.
magpieix A.L.M.N.

November 5th, 2009 at 6:22 PM

Sports betting is legal through provincial Gaming and Lotteries ministries. Off-shore betting is also legal.

Proceeds from (legal) gambling are tax-free in Canada.

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Is sports betting legal in Canada and do you have to pay tax on winnings?

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