Originally <a href='https://www.sportsbookreview.com/forum/showthread.php?p=28407813'>posted</a> on 02/08/2019:
Don’t do it. You will have to pay 25% income tax if it wins.
If you’re going to bet that much, buy 10k of bitcoin, split among top online books, sell 10k bitcoin and then sell for wire or cash on Localbitcoins with the profits.
I’m sorry but I don’t believe year to year we should be required to pay tax on GAMBLING winnings. Had to pay $3000 on a 15k W2G poker tourney win in 2016. 2016 won overall. 2017? Easily down 10k can’t write that off though like you can with stock investments. Absolute bullshit penetrate America someone get me a EU VIZA Better culture more fun cheap flights /rant
Don’t do it. You will have to pay 25% income tax if it wins.
If you’re going to bet that much, buy 10k of bitcoin, split among top online books, sell 10k bitcoin and then sell for wire or cash on Localbitcoins with the profits.
I’m sorry but I don’t believe year to year we should be required to pay tax on GAMBLING winnings. Had to pay $3000 on a 15k W2G poker tourney win in 2016. 2016 won overall. 2017? Easily down 10k can’t write that off though like you can with stock investments. Absolute bullshit penetrate America someone get me a EU VIZA Better culture more fun cheap flights /rant