Is there any US law that says its illegal to send money to an offshore?

[LordVodka]

Ive always wondered about this? And is there any law that says you cant accept money from offshore winnings?

[Justin7]

For a player, no. For a bank, yes.

[LordVodka]

Ahh thanks. Someone I was talking to told me that it was. Thanks for clearing it up.

[Alluvada143]

For a player, no. For a bank, yes.

Justin so you mean that a player can receive funds from off shore sportsbook without any issues from the legal bodies

[DudleyDawson]

Justin so you mean that a player can receive funds from off shore sportsbook without any issues from the legal bodies

I believe this is true.

Other than the taxes thing.

[Justin7]

Justin so you mean that a player can receive funds from off shore sportsbook without any issues from the legal bodies

You may have issues -- like your money being seized by homeland security. But I am not aware of any crime for receiving money from a sportsbook.

[Legions36]

You may have issues -- like your money being seized by homeland security. But I am not aware of any crime for receiving money from a sportsbook.

Any ways u can prevent anything like this happening? Also what kind of stuff could even trigger them bothering u?

[dynamite140]

Ahh thanks. Someone I was talking to told me that it was. Thanks for clearing it up.

You still haven't made your deposit yet?

[Hankwins]

dynamite WTF are you stalking lordvodka for?

[princecharles]

Justin
What about openly stating if asked by Western Unlon, the law or bank that the money you're collecting is gambling winnings.

I understand not a great idea to offer this info, but homeland security would not care I'm assuming.

And if its 'legal', why all the crazy hush hush regarding ways to stay under the radar.

In other words, what would happen if one answered honestly a question from a Western Uni0n clerk about why you're sending money to a third world guy with five first names?

[bookie]

And if its 'legal', why all the crazy hush hush regarding ways to stay under the radar.

Justin was very clear. It is not legal for **. It is not legal for the bank. It is not illegal for the player. Hence all the crazy hush hush.

[sbrhedge]

The problem is not the money transfer. The problem is the betting information.

The Fed Wire Act specifically has a clause in regarding transmitting bets or betting information.

Whoever being engaged in the business of betting or wagering knowingly uses a wire communication facility for the transmission in interstate or foreign commerce of bets or wagers or information assisting in the placing of bets or wagers on any sporting event or contest, or for the transmission of a wire communication which entitles the recipient to receive money or credit as a result of bets or wagers, or for information assisting in the placing of bets or wagers, shall be fined under this title or imprisoned not more than two years, or both.

Title 18, 1081-84 lists everything.

I wire money all the time everywhere and receive, but it's for my trading company. Sports betting across ANY state line is a violation of the Federal Wire Act. You can interpret the Wire Act any way you want, but you are going to fight the Justice Department in court and you will most likely lose.

[tarheelfan72]

I wish someone in the US attorney's office would prosecute just one offshore bettor under the above act. Give them probation and a criminal record. The publicity alone would bring the offshore industry to its knees, and after BI, I want all of them to fail.

Hell, come to think of it, maybe I'll volunteer myself up as the token defendant. At this point I'd do anything to get back at the thieves that run this industry.

[Hankwins]

hey lordvodka, why do you think you can not buy SBR points?

[tarheelfan72]

I'm an attorney, I'll be picking the brain of some young US attorneys that might want some headlines.

Sure, they have bigger fish to fry. But it's kind of a different ball game altogether when you can fry most of the fish with just one case.

ONE American in the headlines, prosecuted for offshore gambling....

Entire industry crippled....

It's gonna be a fun few months here.

[John Dough]

The problem is not the money transfer. The problem is the betting information.

The Fed Wire Act specifically has a clause in regarding transmitting bets or betting information.

Whoever being engaged in the business of betting or wagering knowingly uses a wire communication facility for the transmission in interstate or foreign commerce of bets or wagers or information assisting in the placing of bets or wagers on any sporting event or contest, or for the transmission of a wire communication which entitles the recipient to receive money or credit as a result of bets or wagers, or for information assisting in the placing of bets or wagers, shall be fined under this title or imprisoned not more than two years, or both.

Title 18, 1081-84 lists everything.

I wire money all the time everywhere and receive, but it's for my trading company. Sports betting across ANY state line is a violation of the Federal Wire Act. You can interpret the Wire Act any way you want, but you are going to fight the Justice Department in court and you will most likely lose.

"The business of betting" refers to bookmaking, not placing a wager. This is why bookmakers have been prosecuted, not bettors.

[LordVodka]

I'd like to see Justin7's take on the above. If true, I dont need a hobby that is costing me money and can possibly send me to jail.

[dingolopo]

The Feds are helping Americans get their money back from poker sites such as poker stars, full tilt, and poker room. It is illegal to not report winnings.

[5mike5]

I'd like to see Justin7's take on the above. If true, I dont need a hobby that is costing me money and can possibly send me to jail.

making wagers wont send u to jail

or most of us would already be there

[John Dough]

I'd like to see Justin7's take on the above. If true, I dont need a hobby that is costing me money and can possibly send me to jail.

If you're this paranoid, just don't gamble offshore, it's clearly not worth it for you.

[Bigh2001]

Exactly. There is no federal law against bettors gambling offshore except not paying taxes on your income from betting. Professor Nelson Rose, one of the foremost experts on us gambling law has said this clearly.

Your state might have a law against it. Some do and some don't. Even if they do I seriously seriously doubt anyone is getting prosecuted for online gambling.

"The business of betting" refers to bookmaking, not placing a wager. This is why bookmakers have been prosecuted, not bettors.

[easyliving]

. It is illegal to not report winnings.

can you go into further detail on this?

[Triple_D_Bet]

can you go into further detail on this?

Not reporting income regardless of source (except under small amounts in certain circumstances) is illegal, regardless of whether or not the income was legally derived. Rules for reporting winnings and/or losses differs depending on whether or not you claim to be a professional and other factors, but they can always get you for under-reporting income (provided they could prove it). The government doesn't take kindly to being cheated out of what they're trying to steal

[easyliving]

Not reporting income regardless of source (except under small amounts in certain circumstances) is illegal, regardless of whether or not the income was legally derived. Rules for reporting winnings and/or losses differs depending on whether or not you claim to be a professional and other factors, but they can always get you for under-reporting income (provided they could prove it). The government doesn't take kindly to being cheated out of what they're trying to steal

so what your saying is if we make a profit even if its less than 4 digits from betting on an offshore book you should report it?

[Spedizzo]

Who the fuk here is honestly reporting their winnings? 1% of all bettors?

Not because they are unethical

But because thats about the % of people here who are lifetime winners and can legitimately report winnings

[Spedizzo]

so what your saying is if we make a profit even if its less than 4 digits from betting on an offshore book you should report it?

No

Because by the time you actually go to report it I guarantee you will have lost it already on the Broncos or Patriots MLs next week

[easyliving]

No

Because by the time you actually go to report it I guarantee you will have lost it already on the Broncos or Patriots MLs next week

at least 1 of those 2 if not both lose next week and I finish the week on a nice profit. I'm taking Ravens and Texans ML.