Its Heating up.....Fandual CEO Says Offshore Sites Have Unfair Advantage

[pologq]

Most of the drug dealers run from me because i have a sign that says "I am looking for my dad" and they all seem to run away.

[pologq]

It’s the same thing as a slot machine which is what rocket is categorized. It’s as if you are at an on-site casino and get a hand pay where they usually ask you if you want to withhold taxes. I’m assuming OP didn’t put in his SSN on DK so they are automatically withholding taxes on slot machine wins the same as they would at a normal casino. I have entered my info and won over $1,200 and they didn’t withhold taxes on my slot wins or even give me the option toI wish they would have as I then had a tax bill this year to pay.

this makes sense

on my sports winnings they are not withholding

[captrobey]

It’s the same thing as a slot machine which is what rocket is categorized. It’s as if you are at an on-site casino and get a hand pay where they usually ask you if you want to withhold taxes. I’m assuming OP didn’t put in his SSN on DK so they are automatically withholding taxes on slot machine wins the same as they would at a normal casino. I have entered my info and won over $1,200 and they didn’t withhold taxes on my slot wins or even give me the option toI wish they would have as I then had a tax bill this year to pay.

I won last year though at Caesars online a couple times like this amount and i did not pay anything until i actually did my taxes. Although i do think that is what it is but in the end because i only cashed out $5000 them taking out that amount cost me. It just sucks to think like when i hit that 4 game parlay a couple weeks back they would have taken probably a big chunk of that. But since it was offshore i kept the entire thing.

[BOA12]

that is awesome to have. plus the shop sounds cool. even harder to find nowadays.

In some ways I'm luckier than most. Mom & Pop anything is a dying breed, society's greatest loss IMO. My favorite is $1 Taco Tuesdays, hope they never take that away. BOL bro.

[KiDBaZkiT]

I won last year though at Caesars online a couple times like this amount and i did not pay anything until i actually did my taxes. Although i do think that is what it is but in the end because i only cashed out $5000 them taking out that amount cost me. It just sucks to think like when i hit that 4 game parlay a couple weeks back they would have taken probably a big chunk of that. But since it was offshore i kept the entire thing.

You are the only one claiming they are going to gouge your 4 teamer. Other players have stated they aren’t taxing a sports wager unless it’s 300-1. Like 3 or 4 people in this thread have had excellent explanations of what happened with the hand pay and your just like “duuuurrrrrrrr something else happened at a different place and duuurrrrrrrrr my 4 teamer” good god you have such bad adult add it’s horrifying. Go take some adderol.

[captrobey]

You are the only one claiming they are going to gouge your 4 teamer. Other players have stated they aren’t taxing a sports wager unless it’s 300-1. Like 3 or 4 people in this thread have had excellent explanations of what happened with the hand pay and your just like “duuuurrrrrrrr something else happened at a different place and duuurrrrrrrrr my 4 teamer” good god you have such bad adult add it’s horrifying. Go take some adderol.

I never said they would for sure i never won a big amount sportsbetting at DK i was worried that it may happen because i have never had anyone take taxes out of anything i won before i actually cashed out. And i did say that it sounds like they are treating my win like a slot machine hitting because idk anything else that makes sense. But either way it really does not matter in the end because all that matters is they still took over $3000 and all i ever cashed out was $5000 so i still end up on the short end.

[Optional]

Can't you claim some of that back Cappy?

[captrobey]

Can't you claim some of that back Cappy?

I guess i have no clue i have never had this happen before. They are holding the money in limbo right now . See i am confused because one person tells me i have to fill out a form. But another tells me if i do not do anything they send it in for me after a certain amount of time. She told me on live chat it is anything over $600 and the 300xs thing but i know the Rocket game was not 300xs but maybe like the other ones said that is just for sportsbetting and the Rocket game is treated like a big slot machine win and taxed.

[jjgold]

You must be close to Atlantic City in sugarhouse Casino

[captrobey]

You must be close to Atlantic City in sugarhouse Casino

About an hour from AC

[pologq]

it is interesting capt cause i have friends who hit parlays and they don't lose anything when they withdraw. is it because of big casino hits?

[captrobey]

it is interesting capt cause i have friends who hit parlays and they don't lose anything when they withdraw. is it because of big casino hits?

It has to be that i just was wondering because i never had this happen before anywhere .

[KVB]

Capt keep track of your losses and see a tax professional.

You can offset that witheld tax when it's time to file.

Talk to a tax pro about trying to get the money back before filing the year's taxes, it will take a long time, if at all, I mean like 6 months.

I suspect you'll be waiting until next year to get that back, if your tax situation even allows a refund. If you owe taxes, then of course it doesn't come back.

Try to offset the wins with losses when you file your taxes, you've (they've) basically already reported the winnings and you need to acknowledge it when you file your taxes.

Again, talk to a professional about your estimated taxes for the year.

[captrobey]

Capt keep track of your losses and see a tax professional.

You can offset that witheld tax when it's time to file.

Talk to a tax pro about trying to get the money back before filing the year's taxes, it will take a long time, if at all, I mean like 6 months.

I suspect you'll be waiting until next year to get that back, if your tax situation even allows a refund. If you owe taxes, then of course it doesn't come back.

Try to offset the wins with losses when you file your taxes, you've (they've) basically already reported the winnings and you need to acknowledge it when you file your taxes.

Again, talk to a professional about your estimated taxes for the year.

I always owe every year so i am sure this will go towards that and make my total less at least i would think .

[KVB]

I always owe every year so i am sure this will go towards that and make my total less at least i would think .

Track some losses Cap, report them too and it will offset some of that withholding.

See a tax guy about all of this. NJ is pretty clear cut here. I just don't think it's practical to try and get some of that withholding back, if it's even possible, before you file.

Even simple 1040 tax filers a can report gambling income and offset it with losses. If you do that, then, in essence, what they withheld will basically go towards the rest of your tax bill, and not just the gambling income.

[KVB]

Personally, I always feel that I can do more with that money before I have to file taxes than just letting it sit there at the IRS being "withheld".

But that can just be a feel at times...lol.

Fact is, your going ot owe either way, so consider it a payment.

Too bad the IRS doesn't give interest on withheld funds...

[captrobey]

Personally, I always feel that I can do more with that money before I have to file taxes than just letting it sit there at the IRS being "withheld".

But that can just be a feel at times...lol.

Fact is, your going ot owe either way, so consider it a payment.

Too bad the IRS doesn't give interest on withheld funds...

That is how i am looking at it but yea when i saw $2200 instead of $2800 it really sucked every time i thought i had more i had less .

[Auto Donk]

UNFAIR advantage, alright........

almost as bad as Congo v. JJ Gold:

[goduke]

Personally, I always feel that I can do more with that money before I have to file taxes than just letting it sit there at the IRS being "withheld".

But that can just be a feel at times...lol.

Fact is, your going ot owe either way, so consider it a payment.

Too bad the IRS doesn't give interest on withheld funds...

Exactly that was my point. I want no part of giving the IRS an interest free loan for the year. They can get their money when its due and not a minute later. Plus with the right tax planning you can do much more with your money then it just sitting there with them.

[captrobey]

Exactly that was my point. I want no part of giving the IRS an interest free loan for the year. They can get their money when its due and not a minute later. Plus with the right tax planning you can do much more with your money then it just sitting there with them.

That is how i feel especially since if you know me i like trying to reach a point to cashout. Like i have a whopping $7 in there now really not even playing with it just so i can go on and watch people play Rocket game. But if i ever got lucky and put the $7 in there and it miraculously made it all the way to the top that is $7000 . From there i would try for $10000 and cash out. But if they take taxes out that is probably putting me at $5000 if even that making me cash out there instead.That is a big difference.

[mrpapageorgio]

Focus on making it legal here in all 50 states before you work tirelessly to ban offshore. Jeez....

I can't see the feds having an appetite to step in until you have way more states adopting sports betting. Congress can't even agree on 90% of stuff going on now, they're not going to move on something that affects only a handful of states.

[jjgold]

I read great article

USA has been trying to shut down offshore pharmacies for 50 years and all usa pharmacy powers have 100000x more money and own politicians that tiny us gambling operators

He said it is not happening ever

[flyingillini]

I read great article

USA has been trying to shut down offshore pharmacies for 50 years and all usa pharmacy powers have 100000x more money and own politicians that tiny us gambling operators

He said it is not happening ever

Blackie is the smartest man in offshore history

[loser711]

https://www.reviewjournal.com/business/casinos-gaming/cracking-down-on-offshore-sportsbooks-easier-said-than-done-2608855/

[SeahawkSanders]

https://www.reviewjournal.com/busine...-done-2608855/

Excellent read and encouraging to see, thanks for sharing.

I've made about 6k in football futures and I've held off on betting more because all of this DOJ news has scared me off but I think we're good, for awhile, right?

[jjgold]

Offshore bigger than ever

[unde0087]

Business as usual. Thread over

[Waterstpub87]

Excellent read and encouraging to see, thanks for sharing.

I've made about 6k in football futures and I've held off on betting more because all of this DOJ news has scared me off but I think we're good, for awhile, right?

I remember when 5dimes voided all mine, when they left the US. Same thing happened with bet online. It was annoying.

[flyingillini]

Offshore bigger than ever

Offshore will never die. Too many gamblers do not want to give their social security number to play.

[tbill1]

I remember the thread earlier in the year where people were insisting that they were going to get 1099s from US books-even insisting they were going to be taxed on every winning bet with no loss offset. Funny, I never saw one of these posters say if or when they actually got one at tax time.

[TheMoneyShot]

I remember the thread earlier in the year where people were insisting that they were going to get 1099s from US books-even insisting they were going to be taxed on every winning bet with no loss offset. Funny, I never saw one of these posters say if or when they actually got one at tax time.

I'm guessing they lost their ass.

[Optional]

I remember the thread earlier in the year where people were insisting that they were going to get 1099s from US books-even insisting they were going to be taxed on every winning bet with no loss offset. Funny, I never saw one of these posters say if or when they actually got one at tax time.

Maybe you missed their posts. Seen quite a few about this.

Pretty sure if you get hit with a sports betting one the only offset allowed is from that same betting session.

Or do you know better than me how it works?

[tbill1]

Maybe you missed their posts. Seen quite a few about this.

Pretty sure if you get hit with a sports betting one the only offset allowed is from that same betting session.

Or do you know better than me how it works?

I'll stick with if you don't hit a 300-1 shot , a 1099 won't be sent

[Nate rasta]

https://www.espn.com/chalk/story/_/id/34262671/sports-betting-conference-takeaways-mattress-mack-offshore-sportsbooks-match-fixing-concerns

[Optional]

https://www.espn.com/chalk/story/_/i...ixing-concerns

FanDuel CEO Amy Howe said during a Thursday keynote panel that 25% of bettors who play with some offshore sportsbooks don't get paid.



I wonder if she thinks that really...

What she really needs to focus in is Fanduel paying winners and not banishing them so they do not need to look elsewhere.