1. #1
    atofsu32111
    atofsu32111's Avatar Become A Pro!
    Join Date: 02-18-08
    Posts: 2,801

    How Illegal is it to use a Bookie?

    I was thinking of starting to bet with a local bookie. How can I avoid serious charges and what about tax issues?

  2. #2
    atofsu32111
    atofsu32111's Avatar Become A Pro!
    Join Date: 02-18-08
    Posts: 2,801

    How Illegal is it to use a Bookie?

    I was thinking of using a local one? How much trouble can you get in?

  3. #3
    EaglesPhan36
    EaglesPhan36's Avatar Become A Pro!
    Join Date: 12-06-06
    Posts: 71,662

    It's 16% illegal.

  4. #4
    atofsu32111
    atofsu32111's Avatar Become A Pro!
    Join Date: 02-18-08
    Posts: 2,801

    lol like penalties of law? I cant find it anywhere

  5. #5
    atofsu32111
    atofsu32111's Avatar Become A Pro!
    Join Date: 02-18-08
    Posts: 2,801

    How Illegal is it to use a Bookie?

    I was thinking of using one and what kind of trouble can I get into? i can't find laws on it

  6. #6
    HoulihansTX
    Bowl $ea$on
    HoulihansTX's Avatar Become A Pro!
    Join Date: 02-11-09
    Posts: 30,566
    Betpoints: 295

    As the one placing the bets, the only true risk is sweating your payout.

    In America the majority of time only the person taking the bets is prosecuted.

  7. #7
    MichaelWaters
    MichaelWaters's Avatar Become A Pro!
    Join Date: 05-19-11
    Posts: 1,525

    Quote Originally Posted by atofsu32111 View Post
    lol like penalties of law? I cant find it anywhere
    whatever they want to do to you

  8. #8
    thebestthereis
    thebestthereis's Avatar Become A Pro!
    Join Date: 03-01-09
    Posts: 11,459
    Betpoints: 8056

    Keep detailed records and if u get caught swear and cross your fingers you were gonna pay taxes on all winnings.

  9. #9
    Dawgfan1980
    Dawgfan1980's Avatar Become A Pro!
    Join Date: 09-15-10
    Posts: 29
    Betpoints: 75

    Doesn't it seem like the federal government wants you to use a bookie? Do they not want you to play in underground card rooms? That seems to be what they are saying to me. The chances of you getting in trouble playing with an illegal bookie are not very good. The chances of you losing a ton of money by playing on credit is more likely. If you can control yourself, go for it. Pay taxes if you win, just like you would at any offshore book. The tax situation is the exact same. You can even choose not to pay your taxes, but since you are worried about legality, you probably should.

  10. #10
    BiffTFinancial
    BiffTFinancial's Avatar Become A Pro!
    Join Date: 01-29-09
    Posts: 22,670
    Betpoints: 5368

    Quote Originally Posted by HoulihansTX View Post
    As the one placing the bets, the only true risk is sweating your payout.

    In America the majority of time only the person taking the bets is prosecuted.
    this is correct. unless your bookie knows about other illegal activities in which you are engaged (such that he could roll on you for that if he's pinched), very little risk other than the obvious one: getting paid.

    US Dept of Treasury and government in general has taken a non-enforcement position re: UIGEA with respect to individual bettors placing offshore bets - they only care about the book. same is true of local bookies and guys placing bets with them. it's like littering - not legal, but law enforcement deems it not worth the time, effort and expense to enforce.
    Nomination(s):
    This post was nominated 1 time . To view the nominated thread please click here. People who nominated: fitguy67

  11. #11
    thespeculator
    thespeculator's Avatar Become A Pro!
    Join Date: 09-09-08
    Posts: 2,999
    Betpoints: 13168

    Quote Originally Posted by Dawgfan1980 View Post
    Doesn't it seem like the federal government wants you to use a bookie? Do they not want you to play in underground card rooms? That seems to be what they are saying to me. The chances of you getting in trouble playing with an illegal bookie are not very good. The chances of you losing a ton of money by playing on credit is more likely. If you can control yourself, go for it. Pay taxes if you win, just like you would at any offshore book. The tax situation is the exact same. You can even choose not to pay your taxes, but since you are worried about legality, you probably should.
    i was thinking the same thing, it is almost like some of the illegal bookies got together and said to the feds , these offshore guys are ruining our business, it sounds silly but you never know what is going on behind the curtain with the government

  12. #12
    Kindred
    Bitcoin=Freedom
    Kindred's Avatar Become A Pro!
    Join Date: 09-09-08
    Posts: 2,901
    Betpoints: 473

    Nobody has ever been charged for placing a bet. As for taxes it's no different than anything else, chances of getting caught are slim but if you do get caught it's serious. Same thing as not reporting income from an under the table job. If you win a lot of money I'd report it since it's likely to bring more attention to your bank accounts ect. Otherwise it's up to your judgement, but just because it's gambling rather than other sources of income it's the same risk/penalties.

  13. #13
    BIGDAY
    angelman.org
    BIGDAY's Avatar SBR PRO
    Join Date: 02-17-10
    Posts: 48,240
    Betpoints: 25806

    A lot of the time it's the bookie that gets the brunt of it as he is the one taking the bet.

  14. #14
    BiffTFinancial
    BiffTFinancial's Avatar Become A Pro!
    Join Date: 01-29-09
    Posts: 22,670
    Betpoints: 5368

    Quote Originally Posted by thebestthereis View Post
    Keep detailed records and if u get caught swear and cross your fingers you were gonna pay taxes on all winnings.
    actually, i'm not sure that that's a great idea. if you don't keep records, law enforcement would have to prove what your wagers and pay-outs were using the bookie's records (and they have a bit of a credibility issue there). i used to think that paying taxes on winnings was a big deal, but i got a big 1099 a few years back and planned to declare the entire thing, and my accountant talked me into only declaring about 1/3 of it, and he's pretty conservative. bottomline: for most of us, the amounts involved aren't big enough for the IRS to come after you for tax fraud, but as a general rule, i declare some gambling winnings and discount the rest on the basis that i had some gambling losses at another point in the year to offset them. one trip to Vegas or Windsor in the year is enough to make it very difficult for law enforcement to prove your actual net winnings.

  15. #15
    yahoonino
    yahoonino's Avatar SBR PRO
    Join Date: 08-10-07
    Posts: 2,651
    Betpoints: 1365

    if i win cash money with a local bookie,,,why in a hell i should declare in my taxes,,only a moron would tell the irs yes this exstra money is from illigal gambling

  16. #16
    Recurring
    Recurring's Avatar Become A Pro!
    Join Date: 12-11-10
    Posts: 343
    Betpoints: 720

    Pretty illegal

  17. #17
    atofsu32111
    atofsu32111's Avatar Become A Pro!
    Join Date: 02-18-08
    Posts: 2,801

    Ok so if I declare them on my tax report. What do I say they are?

  18. #18
    jjgold
    jjgold's Avatar Become A Pro!
    Join Date: 07-20-05
    Posts: 388,190
    Betpoints: 10

    Lol

    You guys are nuts

    Never pay taxes on illegal gambling winnings.

  19. #19
    atofsu32111
    atofsu32111's Avatar Become A Pro!
    Join Date: 02-18-08
    Posts: 2,801

    Ok but how do you explain random deposits in your bank account? 600 800 1200 etc?

  20. #20
    thetrinity
    penetrate me to tears
    thetrinity's Avatar SBR PRO
    Join Date: 01-25-11
    Posts: 22,430
    Betpoints: 5536

    is this a joke?

    honestly if you use a local, just control yourself. if hes anything at all, he has his own methodds to make sure you pay. 90% of the ones i have run across are scum, i have a pretty legit guy right now though.

  21. #21
    ouman101
    ouman101's Avatar Become A Pro!
    Join Date: 12-02-09
    Posts: 2,815
    Betpoints: 749

    Quote Originally Posted by atofsu32111 View Post
    Ok but how do you explain random deposits in your bank account? 600 800 1200 etc?
    Why are you depositing the money in your bank? I'll assume that you also have a legit job that pays you and you deposit your paycheck. Use that money to pay for bills. Keep the cash you make from gambling and pay for food, beer, drugs, etc. with it. This way your gambling money 'never existed'.

  22. #22
    bigbet1234
    bigbet1234's Avatar Become A Pro!
    Join Date: 06-22-06
    Posts: 625
    Betpoints: 53

    US is a joke when it comes to this. they ought to mind their own damn business, and quit worrying about everyone else

  23. #23
    MadTiger
    Wait 'til next year!
    MadTiger's Avatar Become A Pro!
    Join Date: 04-19-09
    Posts: 2,724
    Betpoints: 47

    Quote Originally Posted by yahoonino View Post
    if i win cash money with a local bookie,,,why in a hell i should declare in my taxes,,only a moron would tell the irs yes this exstra money is from illigal gambling
    The IRS has stated repeatedly (remember Scarface Al Capone) that they do not care how you got it: report it. Miscellaneous/Other/etc. is all good to them. They have been consistent with that for the longest. One of the few things they have been consistent with, actually.

  24. #24
    konck
    Listen the toilet is flushing
    konck's Avatar SBR PRO
    Join Date: 10-17-06
    Posts: 12,551
    Betpoints: 2287

    The local bookies are drooling over the closing of internet sites they are back in bizz big

  25. #25
    MadTiger
    Wait 'til next year!
    MadTiger's Avatar Become A Pro!
    Join Date: 04-19-09
    Posts: 2,724
    Betpoints: 47

    Quote Originally Posted by atofsu32111 View Post
    Ok so if I declare them on my tax report. What do I say they are?
    Other Income, or something to that affect. See my comment above. You don't have to tell them specifics on illegal income. Just report it.

  26. #26
    Mattn3236
    Mattn3236's Avatar Become A Pro!
    Join Date: 04-21-08
    Posts: 841

    Its only one felony for booking. You get another one for making terrorist threats when nobody pays. Hopefully that helps.

  27. #27
    MadTiger
    Wait 'til next year!
    MadTiger's Avatar Become A Pro!
    Join Date: 04-19-09
    Posts: 2,724
    Betpoints: 47

    Quote Originally Posted by ouman101 View Post
    Why are you depositing the money in your bank? I'll assume that you also have a legit job that pays you and you deposit your paycheck. Use that money to pay for bills. Keep the cash you make from gambling and pay for food, beer, drugs, etc. with it. This way your gambling money 'never existed'.
    This is the best way to go, or you can also "salt" a few of your other deposits with a few bucks from your winnings. Either way is fine as far as not raising too much suspicion.

  28. #28
    unusialsusp5
    unusialsusp5's Avatar SBR PRO
    Join Date: 04-18-10
    Posts: 4,184
    Betpoints: 3601

    i wouldn't worry about being the bettor if going local..hide your winnings? under the floorboards if you win too much...no one will question your deposits in the bank...just say you won it at the racetrack..not reportable unless 602.00 on a 2.00 bet...actually as a former bookie in the early 70's and now with cell phones i'm going back in business...this time with a small clientele of semi-affluent customers with a capped limit on their bets..looking for those football bettors who come out of the woodwork every september thinking they know something about football? except how to bet it...

  29. #29
    atofsu32111
    atofsu32111's Avatar Become A Pro!
    Join Date: 02-18-08
    Posts: 2,801

    Anyone cashout on bodog? Money transfer seems sketchy

  30. #30
    VegasInsider
    Update your status
    VegasInsider's Avatar Become A Pro!
    Join Date: 12-12-10
    Posts: 14,593
    Betpoints: 18

    You're a very paranoid gambler.

  31. #31
    gryfyn1
    gryfyn1's Avatar Become A Pro!
    Join Date: 03-30-10
    Posts: 3,285
    Betpoints: 36

    Quote Originally Posted by atofsu32111 View Post
    Ok so if I declare them on my tax report. What do I say they are?
    call them gambling winnings, they a enough ways to win money legally that dont leave a paper trail ---

  32. #32
    TankHankerous
    Frrrrrrunkis!
    TankHankerous's Avatar Become A Pro!
    Join Date: 03-22-12
    Posts: 2,088
    Betpoints: 576

    Quote Originally Posted by madtiger View Post
    the irs has stated repeatedly (remember scarface al capone) that they do not care how you got it: Report it. Miscellaneous/other/etc. Is all good to them. They have been consistent with that for the longest. One of the few things they have been consistent with, actually.
    fukk the irs!

  33. #33
    SlickFazzer
    SlickFazzer's Avatar Become A Pro!
    Join Date: 05-22-08
    Posts: 20,209
    Betpoints: 2923

    Just bet it hard with the Bookmaker...and put some stink on the Sumbich!

  34. #34
    pipita17
    Update your status
    pipita17's Avatar Become A Pro!
    Join Date: 07-17-12
    Posts: 393

    Quote Originally Posted by thetrinity View Post
    is this a joke?

    honestly if you use a local, just control yourself. if hes anything at all, he has his own methodds to make sure you pay. 90% of the ones i have run across are scum, i have a pretty legit guy right now though.
    Hey man, can you please explain how is that thing work with bookie. Im not from US.

  35. #35
    Nittany Lion
    Nittany Lion's Avatar Become A Pro!
    Join Date: 09-14-10
    Posts: 1,639
    Betpoints: 675

    Quote Originally Posted by atofsu32111 View Post
    Anyone cashout on bodog? Money transfer seems sketchy
    Cashed out from them earlier this year, took like 30 days to receive the check. Not playing with them anymore, switched to 5Dimes a few days ago, much better options and when you cash out you can just request person to person money transfer.

12 Last
Top