Legal question

[arpeggiomeister]

I just started betting on football last year. It was an experiment. I did way better than I expected I would. I am considering doing this for a living if I do as well in the next few years.

I live in Maine. Is there a way to do this legally from my home state or do I have to move to Las Vegas? I thought I might make a few hundred bucks, but when it turned to thousands I was caught totally unprepared.

[MrX]

Keep in mind that by placing bets you are not breaking any laws federally. You may be breaking a state law, but there is almost no chance you would get in trouble for making online sports bets.

Of course you can get in trouble for tax evasion if you forget to pay income tax on your winnings.

The entity taking the bets is the one who has to worry about legal troubles.

And, yes, I believe Nevada is the only place in the U.S. to take a sports bet legally.

[seaborneq]

Whoa!!!!!!!!!!!! Slow down!!!!!!!!!!!!!!!!! Don't move to Las Vegas because you won a few thousand dollars and think that you can become a professional gambler. You may as well try to become a professional athlete, your odds would be just slightly better. It is not easy, many/most of us lose money, but we lose money we can afford to lose and we have full time jobs. Don't quit your day job and move on a whim.

[Francis Sollozzo]

Whoa!!!!!!!!!!!! Slow down!!!!!!!!!!!!!!!!! Don't move to Las Vegas because you won a few thousand dollars and think that you can become a professional gambler. You may as well try to become a professional athlete, your odds would be just slightly better. It is not easy, many/most of us lose money, but we lose money we can afford to lose and we have full time jobs. Don't quit your day job and move on a whim.

dont shatter the kid's dream , every gambler should move to vegas at least once and give it a shot. i did , love the memories.

[sofun]

hehehe, I like your dream broo, first year make profit and then thinking about retire, it is not that easy as all, 90% of the player here losing their year to year, it is not because they don't know how to make a bet, but betting and winning on sports is very hard. think about it twice before making the decision.

[arpeggiomeister]

Keep in mind that by placing bets you are not breaking any laws federally. You may be breaking a state law, but there is almost no chance you would get in trouble for making online sports bets.

Of course you can get in trouble for tax evasion if you forget to pay income tax on your winnings.

The entity taking the bets is the one who has to worry about legal troubles.

And, yes, I believe Nevada is the only place in the U.S. to take a sports bet legally.

Thanks for your response, that info is very helpful.

[gm2022]

Making a few thousand is one thing but moving to Vegas is a whole different story. Alot of people dont make it because of displine. If you can live within the money you have and not need a expensive life style thats the first step. Dont let the cars the houses get to you. Than make sure you know the difference between Gambling money and Life Money! Thats wear people go bust thinking every $ to their name is to gamble with. Pefect example Matt Damon "Rounders" dont live the Pipe dream live your dream!

[arpeggiomeister]

Whoa!!!!!!!!!!!! Slow down!!!!!!!!!!!!!!!!! Don't move to Las Vegas because you won a few thousand dollars and think that you can become a professional gambler. You may as well try to become a professional athlete, your odds would be just slightly better. It is not easy, many/most of us lose money, but we lose money we can afford to lose and we have full time jobs. Don't quit your day job and move on a whim.

Prudent advice, I did say that I am going to try this for a few years before considering a move like that. Before making such a move I would make sure I wasn't just having beginner's luck.

Thanks for your advice