'02 I didn't have winnings, '03 I had a few thousand in winnings and didn't report. '04 I had significant winnings to where I sought an accountant, I also finished my Bachelor's Degree and planned on paying off a Federal Student Loan at first payment, couldn't do it declaring I was an unemployed student living off loans. Had to resubmit '03 to include the gambling earnings, paid penalty. I use one now every year, regardless of if the primary amount of income is gambling related or not. My taxes are done as close to New Years as they can be, they send a bill, I pay the current year owed quarterly. Zero audits.
I don't know how prevalent Neteller was in sportsbooks, but it was our lifeblood on the poker side. You could request a withdrawal before you went to bed, and by the time you woke up, you could take the cash out of any ATM in the country for a ridiculously small fee. When Neteller went down in the U.S., the government got those records. When 3rd party processors use cash transfers, the companies that run those cash transfers keep records that the government sees under the Patriot Act. If you think you're playing on an online book and no one has no clue what you're making off it, you're beyond dead wrong.
I don't know how prevalent Neteller was in sportsbooks, but it was our lifeblood on the poker side. You could request a withdrawal before you went to bed, and by the time you woke up, you could take the cash out of any ATM in the country for a ridiculously small fee. When Neteller went down in the U.S., the government got those records. When 3rd party processors use cash transfers, the companies that run those cash transfers keep records that the government sees under the Patriot Act. If you think you're playing on an online book and no one has no clue what you're making off it, you're beyond dead wrong.
