Newb Question on Placing a bet....

SEAHAWKHARRY · 01-27-16, 09:18 PM

Vegas

jjgold · 01-27-16, 09:18 PM

Heritage guy

Best of luck if your ever in Vegas look me up and we go to a strip club

sean2000 · 01-27-16, 09:27 PM

Originally posted by SEAHAWKHARRY

Vegas

I meant where online?

texhooper · 01-27-16, 09:32 PM

I think you could do it anywhere as long as you don't take a bonus. Just post up at an A+ shop and you should be fine

texhooper · 01-27-16, 09:33 PM

I will say though that if JJ says heritage you might wanna go here. If they give you a hard time SBR should be able to clear it up. Just don't take any bonuses

gauchojake · 01-27-16, 09:37 PM

Heritage

JMon · 01-27-16, 09:46 PM

Well first you need to punch yourself in the fukking face for saying "all in". I didn't read any further.

KVB · 01-27-16, 09:49 PM

Jmon fired up tonight...

PorkChop · 01-27-16, 09:50 PM

If you want to collect anything more than $2,900,

Las Vegas.

habitualwinning · 01-28-16, 01:15 AM

Originally posted by PorkChop

If you want to collect anything more than $2,900,

Las Vegas.

What's the deal with taxes in Vegas, at what point do they take out taxes and how much is the rate?

KVB · 01-28-16, 01:27 AM

Originally posted by habitualwinning

What's the deal with taxes in Vegas, at what point do they take out taxes and how much is the rate?

It's not so much about taxes right there as much as the filing that occurs over 3k. If you win 3K you may have to fill out a CTRC form. If you don't provide a tax id # for that form I believe the casino may have to withhold up to 30%.

Don't cash a lot of big tickets in the same 24 hours and see if you can get some in casino chips.

Every bet you win is taxable, technically, and you can offset those winnings with losses...just keep track.

Others may offer more info here I'm sure.

PorkChop · 01-28-16, 09:51 AM

Originally posted by habitualwinning

What's the deal with taxes in Vegas, at what point do they take out taxes and how much is the rate?

Over 3k, fill out tax form.

Breeze

Russian Rocket · 01-28-16, 10:09 AM

In the sportsbook taxes are not deducted unless your wager meets both of these requirements; (a) it must pay more than $600, AND (b) must be odds of 300-1 or greater. You will probably never find odds that high. Now, if you do win say $10,000, you can get paid in cash but will be involved with the casino filing a CTRC-N (tracks the cash flow) and have to provide them with your name, address and SS#. Since this form goes to the IRS, you will now have to pay taxes.

The lowest threshold for this type of paperwork is $3,000, so keep your sports bet winnings below that. If you happen to have multiple winning tickets, don't cash them in within the same 24 hours or a MTL (multiple transaction log) will be generated.

Casinos withhold 28% as income tax if you do not provide a documented TIN (Taxpayer Identification Number or your Social Security Number.) The withholding tax is 30% if a foreign gambler (You can later get that money back from IRS.)

Russian Rocket · 01-28-16, 10:15 AM

Originally posted by sean2000

Ok going all in on the Panthers. I havent been betting online in a while. I just want to place 1 bet on the panthers and be done with it. 5 dimes kinda confused me with the whole roll and you have to leave a deposit to cover your withdrawal thing? Can someone please explain this to me. Also what site would you guys suggest for just a 1 bet and done type thing?

Someone said Bovado but I heard they are having issues with sending money to people.
5 Dimes?

Please help, you guys know.

Thanks guys.

Forget Bovada. Try HeritageSports.eu or 5Dimes.
5Dimes comes with a higher processing fees as far as the withdrawing funds goes.

KVB · 01-28-16, 01:48 PM

Originally posted by Russian Rocket

In the sportsbook taxes are not deducted unless your wager meets both of these requirements; (a) it must pay more than $600, AND (b) must be odds of 300-1 or greater. You will probably never find odds that high. Now, if you do win say $10,000, you can get paid in cash but will be involved with the casino filing a CTRC-N (tracks the cash flow) and have to provide them with your name, address and SS#. Since this form goes to the IRS, you will now have to pay taxes.

The lowest threshold for this type of paperwork is $3,000, so keep your sports bet winnings below that. If you happen to have multiple winning tickets, don't cash them in within the same 24 hours or a MTL (multiple transaction log) will be generated.

Casinos withhold 28% as income tax if you do not provide a documented TIN (Taxpayer Identification Number or your Social Security Number.) The withholding tax is 30% if a foreign gambler (You can later get that money back from IRS.)

lol, I did a quick google search to make sure what I thought was correct before my post above and I was basically shortening and paraphrasing the post you just copied as it agreed with what I was thinking.

I was reading this thinking "didn't I just read that somewhere?"

manny24 · 01-28-16, 02:29 PM

local credit Sean

just remember if Denver pulls off the miracle tuesday morning will be coming quick and you better have that $$Tree fitty son

TheMoneyShot · 01-28-16, 04:21 PM

Originally posted by sean2000

Ok going all in on the Panthers. I havent been betting online in a while. I just want to place 1 bet on the panthers and be done with it. 5 dimes kinda confused me with the whole roll and you have to leave a deposit to cover your withdrawal thing? Can someone please explain this to me. Also what site would you guys suggest for just a 1 bet and done type thing?

Someone said Bovado but I heard they are having issues with sending money to people.
5 Dimes?

Please help, you guys know.

Thanks guys.

I don't get the 5D leave a deposit to cover your withdrawal thing either? That's odd. Perhaps you misunderstood them? Sometimes client chat isn't so dependable? Maybe email them? So you have something in writing?

There's quite a few places to make a deposit and let the entire thing RIP on Carolina... then withdrawal.

I'd still suggest 5Dimes... just don't take any bonuses. Bonuses you have to rollover. Don't do that.
The other book is Heritage Sports. Again, if you want a quick turnaround... do not accept bonuses. You won't be able to withdrawal with bonuses.

Russian Rocket · 01-28-16, 04:24 PM

Originally posted by TheMoneyShot

I don't get the 5D leave a deposit to cover your withdrawal thing either? That's odd. Perhaps you misunderstood them? Sometimes client chat isn't so dependable? Maybe email them? So you have something in writing?

There's quite a few places to make a deposit and let the entire thing RIP on Carolina... then withdrawal.

I'd still suggest 5Dimes... just don't take any bonuses. Bonuses you have to rollover. Don't do that.
The other book is Heritage Sports. Again, if you want a quick turnaround... do not accept bonuses. You won't be able to withdrawal with bonuses.

Yeah 5Dimes probably just told him that he just needs to have enough to cover the transfer fee cos he won't qualify for free payout.
The fee is generally 40-50 bucks.