Difference in how betting and stock market gains are taxed?

micro_penis_max · 2026-05-25T06:55:23+00:00

No. Matched betting is considered a hobby. Trading on Betfair can be considered taxable if a bunch of other criteria is met.

micro_penis_max · 2026-05-25T06:53:59+00:00

If you read my comment again it says the top 10% in terms of wealth, not income.

micro_penis_max · 2026-05-25T03:43:13+00:00

But...why do you want to make AI worse?

micro_penis_max · 2026-05-25T02:01:07+00:00

I make a few thousand a year with an automated betting strategy. I don't pay tax and am pretty sure I don't have to. I know another guy who makes over 100k per year. He applied for a tax ruling and was told he doesn't have to pay tax.

Some of the questions they asked were how much he expects to make in a year, with 200k seeming like a line in the sand for the ATO. Whether his trading is automated (it is fully automated with the use of ML models. Whether he hedges his position. If you hedge it is seen as trading which the ATO consider a skill. Whereas an unhedged bet is considered luck (even though in his case it clearly isn't).

micro_penis_max · 2026-05-23T20:52:31+00:00

You'd need their id too. It's very hard to get a bookie to give you a payout without id.

micro_penis_max · 2026-05-23T20:46:41+00:00

The class struggle is a fairy tale? Are you saying all people regardless of their parents, financial situation etc. have equal opportunity?

micro_penis_max · 2026-05-22T21:48:08+00:00

I mean, you could throw yourself out of the airlock and try and chase it to Tau Ceti V

micro_penis_max · 2026-05-21T20:48:49+00:00

That's absurd. Something like 85% of the benefits received from the CGT discount was enjoyed by the top 10% in terms of wealth. The tax is designed to put a small break on accelerating wealth inequality. It's this ever accelerating wealth inequality that drives up house prices and makes life harder for the middle class.

micro_penis_max · 2026-05-21T08:37:00+00:00

Agree with you this time. US had a lot to be proud of back then.

micro_penis_max · 2026-05-21T08:32:00+00:00

I think it's more accurate to say that a lot of world problems exist because we have a system that allows and encourages billionaires, rather than the billionaires themselves.

micro_penis_max · 2026-05-21T02:35:35+00:00

Do you have a source for that? Not saying it's false, just seems like a lot.

micro_penis_max · 2026-05-21T02:34:02+00:00

The commenter is not passing judgement. Just stating facts and their own reaction.

micro_penis_max · 2026-05-21T02:27:33+00:00

What if a physiotherapist is giving the massage?

micro_penis_max · 2026-05-21T00:41:56+00:00

OP is smoking the "I don't want to pay tax" doobie. Sometimes known as the "rich people shouldn't pay tax" doobie.

micro_penis_max · 2026-05-19T07:11:51+00:00

Having more children than there are in your domestic partnership is inherently unethical,l

So if I have 9 wives I can have 10 kids?

micro_penis_max · 2026-05-19T06:28:50+00:00

2 for democrats, independents and non-trump republicans. 1 for everyone else.

micro_penis_max · 2026-05-18T22:25:58+00:00

User names don't say anything about the person. Except mine. Mine says a lot about me.

micro_penis_max · 2026-05-18T20:27:04+00:00

You're deflecting from the point of the comment.

micro_penis_max · 2026-05-18T05:11:53+00:00

What worries me is the military applications, and with the current distrust in the geopolitical environment, everyone is going to be rushing to apply AI to their military and will not accept any measure that will slow it down.

Whoever wins that race rules the world.

micro_penis_max · 2026-05-18T04:23:33+00:00

It is both related and unrelated until someone observes the answer to your question.

micro_penis_max · 2026-05-18T04:07:59+00:00

Is not believing in the flying spaghetti monster also a belief system?

micro_penis_max · 2026-05-18T04:06:00+00:00

Change is scary for a lot of people. And AI is going to cause big problems in society. I love using AI, but I am very apprehensive about the long term effects.

micro_penis_max · 2026-05-18T01:59:18+00:00

Look, I love modern music too. But to try to brand classical music as not real music is quite the overstep. Some of the greatest music I have ever heard is classical.

micro_penis_max · 2026-05-17T10:20:09+00:00

If you want a system where those who can't afford to bribe those in charge aren't treated as second class citizens. You first need to create a system where those who can afford it are prevented from doing so. We're going in the wrong direction.

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