According to the Personal Income Tax Law, all winnings exceeding €3,000 and paid into a bank account in a single transaction or a series of consecutive transactions within a single gaming session are taxed at 25.5% or 33%, depending on the winning amount:
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Tax-Free Amount: The first €3,000 of your winnings is tax-free.
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Tax Rate of 25.5%: Applies to the amount exceeding €3,000 but not exceeding €78,100.
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Tax Rate of 33%: Applies to the amount exceeding €78,100.
Example Calculation
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If your total winnings are €10,000:
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The first €3,000 is tax-free.
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The remaining €7,000 is taxed at 25.5%, resulting in €1,785 tax.
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Additional Information
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For more details on the taxation of winnings, please refer to the official source: Taxation Guide - State Revenue Service (VID)
How Are Taxes Calculated?
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Taxes are automatically deducted from your winnings at the time of payout into your bank account.
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Only the amount exceeding €3,000 is subject to taxation.
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The portion of winnings up to €78,100 is taxed at 25.5%, while the portion exceeding €78,100 is taxed at 33%.
Calculation Example
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Total winnings: €90,000
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The first €3,000 is tax-free.
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€75,100 (the portion between €3,000 and €78,100) is taxed at 25.5%, resulting in €19,150.50.
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€11,900 (portion above €78,100) is taxed at 33%, resulting in €3,927.
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Total tax: €19,150.50 + €3,927 = €23,077.50
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Do I Need to Pay Income Tax on My Winnings Myself?
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If you receive winnings in separate transactions, each not exceeding €3,000, but the total amount exceeds €3,000 within a calendar year:
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You are required to submit an annual income declaration to the State Revenue Service (VID).
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You must calculate and pay the tax on the total amount exceeding €3,000.
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What Is a Game Session?
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A game session is defined as the period from when you log in to when you log out of your OlyBet profile.
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To end a game session, ensure you log out from all devices where you are logged in.
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