Study could prompt UK government to tax poker winnings

A new study by academics in England and the Netherlands could convince the UK Government to begin taxing poker winnings after the research suggested that poker requires a certain level of skill in order to win.

Researchers from the University of Nottingham, in partnership with Erasmus University Rotterdam and VU University Amsterdam, based their study on a database of 456 million player observations from a year’s worth of online games.

The study found that players who ranked in the top-performing 10% in the first six months of a year were twice as likely as others to do well in the following six months.

The teams ran tens of thousands of simulations, during which the best players were pitched against the worst and winnings were compared.

Despite the better players only faring slightly better over the course of just a few hands, they were better off more than 75% of the time when the total of hands had reached 1,471.

Dr Dennie van Dolder of the University of Nottingham's School of Economics told the Daily Mail newspaper that the study showed “skilled players will consistently outperform less skilled players if enough hands... are played”.

Van Dolder also suggested that if performance is predictable, then it “follows that poker involves an element of skill and can't be merely a game of pure chance”.

The expert in behavioural and experimental economics also suggested that the results could have an impact on legal implications in the UK and whether poker winnings could be taxed.

“It’s up to legislators to decide whether the role of chance diminishes fast enough for poker to be considered a game of skill,” Van Dolder said.

“If so then our findings represent both good and bad news for players. The good news is they will have the satisfaction of knowing the game they love is recognised as requiring real skill.

“The bad news is that one day they might have to start handing some of their winnings to the taxman if the policymaking community takes notice of findings like ours.”

related article  :  Gibraltar body renews bid to reverse new UK tax regime

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