1. #1
    On2TheNext1
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    Join Date: 11-24-12
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    Newbie questions regarding wagering online

    Hi, have never really wagered online and have a couple questions, would like some advice/insight.

    The long/short of it is I'd like to bet ($4-5k - more possibly) on the BCS championship game if it ends up being Alabama vs Notre Dame, and that's it.

    My questions primarily concern limits and payouts.

    1) Being in the US, for bank wires, is $10k really the magic red flag number that draws attention from the IRS? I'm looking to wager the maximum without drawing attention. So am I gtg if I wagered say $4,995.00, won, wired x2 back to my bank? Or is that a myth?

    2) Will a book be okay with a player placing a single wager (and assuming I win) immediately/quickly withdrawing? Anything I'm missing/should consider?

    3) No idea if the amount I'm looking to wager is considered large, average, small, but if it's "large" will a book take it from a first time customer? (With the intention of paying out assuming I win/they lose)

    4) What books would you trust, are most reputable, for what I've described?

    5) Any fees (aside from my bank), fine print I should be aware of on the books end?

    From what I've researched so far, I'm thinking about using Bookmaker. Far as I can tell I should be okay so long as my money has been in my account for 72 hours and I haven't requested a previous withdrawal in 7 days (which won't be an issue since my first withdrawal will be my only withdrawal, again assuming I win).

    Appreciate any insight/advice.

  2. #2
    pologq
    When you are SBR you are SBR 4 Life
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    if you take a bonus you will need to meet rollover before withdrawl. i would suggest not taking a freeplay or cash bonus for your situation.

  3. #3
    Russian Rocket
    Kleptoman
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    If you want to bet that much on a single game and want to get a hassle free fast payout, I would suggest you buy yourself a plane ticket to Vegas and take care of your betting out there.

  4. #4
    Easy-Rider 66
    Easy-Rider 66's Avatar SBR PRO
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    Quote Originally Posted by Russian Rocket View Post
    If you want to bet that much on a single game and want to get a hassle free fast payout, I would suggest you buy yourself a plane ticket to Vegas and take care of your betting out there.

  5. #5
    DirkDiggs
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    Actually 5K is the magic number these days. But it's not only the magic number. Obviously, monitoring systems have gotten a lot more dynamic. Banks have automatic systems in place that flag questionable transactions that appear to be "structuring" or using multiple transactions to avoid suspicion and they are required to report these to the government, as laid out in the bank secrecy act.

    A flight to Vegas makes a lot more sense and you will be able to walk up and collect immediately after the game if you cash. Treat yo self!

  6. #6
    Bill Dozer
    @BillDozer110
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    #1) You should always pay your taxes. If you win in Vegas you will and you should if you take it funds in your bank acct. Maybe if you lost previously you can have your tax guy show you how to offset it.

    #2) yes but depending on what book, it won't be a quick process.

    #3) Youll be fine for the BCS game. You might have to call in and do it in 2 parts depending on the book. Others, one shot is fine.

    If I was in that position I would look for a book with a one time rollover which happens from time to time. A 10% bonus will cover any fees and help with taxes at the end of the yr. Or, one could use reduced juice and save 5% or more.

  7. #7
    alling
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    US online gambling is only for small timers or dumb money squares. Big/smart money bets in Vegas or moves to an online friendly gambling country.

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