1. 02-06-12 01:27 PM #1
    fsulover100
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    Taxes

    Hey, I have been wondering, are you supposed to pay taxes on winning in the USA from a sportsbook? Even though it is technically illegal? Do you guys pay taxes on it?


    Thanks
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  2. 02-06-12 01:32 PM #2
    Iced
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    You're supposed to. The IRS isn't allowed to rat on people for illegal income, so they want taxes paid by the mafia and drug lords too.

    Some guys do pay taxes, some don't. It's up to you, because you're not going to get caught.
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  3. 02-06-12 01:34 PM #3
    rm18
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    If you put it in bank you might get caught but for cash probably not
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  4. 02-06-12 01:56 PM #4
    fsulover100
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    Thanks for the replies guys.
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  5. 02-06-12 01:58 PM #5
    vyomguy
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    Yes. You should. The govt doesn't care as long as they get their cut irrespective of the sources.
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  6. 02-06-12 02:27 PM #6
    fsulover100
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    BTW side question can you get arrested if caught for online gambling? I thought it was just the sites that can get there URL shutdown in US do you know if the player can?
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  7. 02-06-12 02:29 PM #7
    Iced
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    Quote Originally Posted by fsulover100 View Post
    BTW side question can you get arrested if caught for online gambling? I thought it was just the sites that can get there URL shutdown in US do you know if the player can?
    I'm sure you technically can. But there's no recorded cases of it ever happening. The feds want to arrest the sportsbook owners, they don't care about the players.
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