bet365 will now pay all tax on Sports winnings
Following a change in regulations which took place on Monday 12th July 2021, a tax is applied on all Sports and Virtuals bets that win over €100. For bets placed from 19:00 EET on Thursday 26th August 2021, bet365 will pay your tax in full to ensure you receive the total value of returns from your bets in cash.
bet365 will cover the cost of your tax automatically at the time of bet settlement.
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For example, if you placed a winning €100 bet at 7.00 your winnings of €600 would be subject to tax as follows:
• 0% on the first €100 of winnings
• 2.5% on winnings from €100.01 to €200 = €2.50
• 5% on winnings from €200.01 to €500 (€300 in this example) = €15
• 7.5% on any winnings over €500 (€100 in the example) = €7.50
• Total deductions for tax = €25
• 2.5% on winnings from €100.01 to €200 = €2.50
• 5% on winnings from €200.01 to €500 (€300 in this example) = €15
• 7.5% on any winnings over €500 (€100 in the example) = €7.50
• Total deductions for tax = €25
bet365 will cover the total cost of your €25 tax payment meaning you receive the full winnings of €600.
NB: bet365’s concession to cover the cost of your taxes on Sports and Virtuals is applied at our discretion and we reserve the right to amend, withdraw or change eligibility at any time.
More information about taxation for Sports and Gaming is available
here.