Originally Posted by Henry17
That isn't for tax reasons but rather for money laundering. $1000 seems low but if you go into any Ontario or Quebec casino and buy in or cash out for large amounts on a regular basis an employee will come over and demand a lot of personal information.
With respect to Loto Quebec's claim again it means nothing although depending on how the game is structured and what the rake is it might actually be true for their site. Pro-line for example is so horribly stacked against the player that it is not taxable since with such horrible odds and rules no player can have a reasonable expectation of profit. With a high enough rake the same would be true for poker.
I can understand in casinos where you can just hand someone a bunch of chips and there is no record anywhere of how/why those chips changed hands. But it's much harder online, especially at espace. Deposit options are limited to credit card (after a credit check) and your bank account. Cashout is only to your bank account (not like the myriad of ewallets on other sites). Player to player transfers are not allowed as far as I can see. Chip dumping is very obvious. You can deposit $9999/week, no questions asked, but you must disclose your occupation if you cash out just 1k. Maybe they should ask occupation for people depositing. You know, wow this guy says he's a bartender but he wants to deposit the max 10k weekly, maybe we should keep on eye on him and make sure he's not chip dumping. But even bad players can turn a modest deposit into over 1k with a bit of run good.
I just think of all the ways they have at their disposal to detect and deal with money laundering on a site as tightly run as espace, making people list their occupation compulsory for any cash out over 1k seems pretty extraneous....but it's the one question that has any significance to the current tax law in our country...pretty big coincidence.