[itchypickle]

40% taxes OMG

What like this is news that the tax man rapes us with a rusty knife and doesn't even use KY jelly in the process??

[increasedodds]

If you are going to pay the taxes, there is nothing illegal about getting a $233,000 wire. Frankly, it is none of the government's business where the money came from and if they feel otherwise, they can try to prove it came from something illegal - truth is $233,000 is not that much and won't raise FBI eyes - they are looking at $100,000,000 wires every day and trying to figure out what is legitimate hedge fund money and what is drug/terrorist money. Your $233,000 will only get flagged to the IRS and the IRS MIGHT watch to see if you pay taxes on it.

Now all that said, if this is an unusually big sum of money for you, you bank MIGHT freeze your account and investigate the source. I've heard of accounts with like $2000 in them, frozen over $60,000 deposits and for weeks and weeks.

Thus, I recommend you open a few checking accounts and wire in say $25-50,000 per wire. That way it is less likely one gets frozen, and if it does, you only have a portion tied up.

If you play games with multiple $3000, deposits, you can be accused of structuring to avoid the $10,000 report and you can be arrested for that.

I've had many SARs filed (There was a time when you had to sign them) for taking out or bringing in $10,000 in cash. SARs do not cause problems. Not paying your taxes do. You can lose millions of dollars in cash with no problems. Government doesnt care if you lose. ONly wants taxes

[increasedodds]

By the way, SARs are only on cash transactions.

Checks and wires create a record automatically. Sars are only filed by banks when customers take or drop off $10,000+ in cash.

And SARs do not mean you broke the law.

[sportsbetwin]

Relocate to Australia - withdraw - pay zero tax on the win - and you can also start playing at some decent books!

[mirmiroa]

in greece zero taxes too

[forsberg21]

Relocate to Australia - withdraw - pay zero tax on the win - and you can also start playing at some decent books!

Exactly. Why don't you relocate to another country that doesn't impose taxes on gambling.

It's a lot of legwork, but it's certainly worth $100K, isn't it?

[itchypickle]

Exactly. Why don't you relocate to another country that doesn't impose taxes on gambling.

It's a lot of legwork, but it's certainly worth $100K, isn't it?

Definitely not worth a relocation for $100k

[Portage1]

Do the check cashing establishments that charge 2-4% keep or send records to anyone? Seriously, if you're withdrawing a significant amount, why not drag it out in small increments at one of these places over a year, or two, or three? Just keep switching check cashing places..??
Where do the checks go once they're cashed...does the trail eventually come back to you?

[durito]

You can't move to another country to avoid the tax burden. US citizens would still owe full tax.


You won't be able to cash most sportsbook checks at check cashing places.

Do like I said. Take it out via wire or use my wallet and then wire. Take it in small chunks or big chunks. Pay your taxes, move on. It's not that much money, as long as the IRS gets it's cut, no one cares.

[Portage1]

durito, increasedodds from above shares your beliefs about the wire, however, he then says that most likely an account will be frozen if you only have a few thousand in it at the time a huge chunk comes in.
I really feel that the wire is the safest. Even if they suspect foul play, they just take the money(worst case scenerio)...I've done nothing wrong except try to collect winnings and pay the taxes.

[robmpink]

If you get a lets say BkofAma check from a book for say 2800 and you take it to BkofAma to cash it yet you dont have an account with BkofAma does anyone take notice? I mean this is better than depositing it in your own account, correct?

I did this once and BkofAma wouldn't cash the check.

[robmpink]

You can't move to another country to avoid the tax burden. US citizens would still owe full tax.


You won't be able to cash most sportsbook checks at check cashing places.

Do like I said. Take it out via wire or use my wallet and then wire. Take it in small chunks or big chunks. Pay your taxes, move on. It's not that much money, as long as the IRS gets it's cut, no one cares.

Why can't you cash 2=5k check at most check cashing places? You are wrong.

[JerseyShop101]

Did you screenshot your jackpot hit?

Post that pic, would love to see it!

Congrats!

[davidchong]

what was the game?

[Climate]

Postage1,

I sent you a pm for contact info for Nevada's #1 attorney who represents gamblers. Great guy, will possibly even deal directly with the sportsbook/casino for you. With Sportsbook.com, you'll probably need the help.

Keep us updated, this is going to be one serious thread in my opinion.

[stikymess]

I assume there is no screen shot, 1 for the people that doubt and 2 for others (like me) that just love to see a big hit.

Can you say that all of a sudden you stopped playing slot and casino in general?? Anyone remember KC from the Howard Stern show won 100k + (not sure of exact number) world changing money, only to lose it all. Talk about suicide watch.

The one bad idea i read was opening "new" bank accounts, that draws attention, think about it one day you open an account then four days later you are getting wired serious amounts of money!

My appoach would be, get a bi-monthly check to make it look like a job. Then just deposit it as you get it. Looks like a 2nd check a month would eat 40 bucks a pop. Call that maybe the price of doing business.

Another angle, maybe you request all of it, then Sportsbook.com starts acting silly. Look there are enough nightmare stories on here about not getting paid. I mean don't offer the game if you aren't going to pay it, but in this arena this are gray.

I wish you well in what ever avenue you take, just dont give it all back, and for god sake get yourself into a "better" rated book.

[necro]

Good luck!!

[Johnny 55]

tough situation, I would just get a $3,000 check every week, deposit it into a regular checking account and pay your taxes, dont think you need to overcomplicate anything past this point.

[trumpdown]

I don't want to be arrested/possibly jailed, or have all of the money be taken from our crazy federal government, just because I transferred money into my bank account from my offshore sportsbook/casino.

ANY ADVICE?

Sure. Start a corporation offshore, pay yourself a salary, and make me a shareholder!

Besides making me a shareholder I'd look into an offshore corporation which is tax exempt. Draw from your offshore bank and pay taxes on your SALARY not on all the winnings at once. If you can figure this out LEGALLY this is how I'd do it.

[pitman]

tax on winnings is theft.
IRS is a bunch of legal mobsters

[dark_knight]

For anyone doubting this, it's on Sportsbook's site now:
http://www.sportsbook.com/casino/winners/
under CASINO JACKPOT WINNERS

Portage1: Is our latest big winner! Playing $2.00 in Tropical Island he landed $232,296.43.

[Portage1]

Finally...I have come to realize that there is no easy way to do this. It will have to be a slow pay system that will take years to complete (minus gambling losses through that time). Anything involving my personal bank account is insane. I literally have less than $1000 in it at any given time. I live paycheck to paycheck. Bank wires or big checks would work if you moved a lot of money in and out of your account on a normal basis. Opening up accounts and depositing small checks looks like that would be structuring fraud...which I don't want to go to jail for. Check cashing places still have to record/report your name to the gov.. Visiting Costa Rica to pick-up in person sounds insane, and I don't know of one book that would do that. Opening an off-shore account just sounds like I'm trying to avoid taxes. I've spoken with many people on this one, including a tax attorney, general lawyer, tax accountant, and you...the forum. For every good response I've received, I have had another tell me that it's not a good response at all. However, your responses are better than the people I've paid for an hour of their time.
There has to be thousands of people in the U.S. that have won some pretty big payouts from offshore books/casinos. What they do with collecting is the biggest mystery that might never be known until gaming is someday/somehow(lol) regulated. This could be a pretty lucrative business to be in...helping people bring the cash home...an outlaw so to speak.
At this point I'd give someone 1/2 of my win for a foolproof, locksafe system to get it inland. Seriously, I may be happy walking away with $50K (after taxes, of course).
This is my last reply on this particular post. Thanks to everyone. It is hard to find topics about this matter...that is why I started the post...I hope it continues to help other people find the best ways to access their earned money (either through luck or hardwork).

[durito]

Wire it to my bank. I'll give you half in cash.

[durito]

Why can't you cash 2=5k check at most check cashing places? You are wrong.

Try cashing a check drawn on a costa rican bank at a check cashing place. Good luck.

[relaaxx]

Finally...I have come to realize that there is no easy way to do this. It will have to be a slow pay system that will take years to complete (minus gambling losses through that time). Anything involving my personal bank account is insane. I literally have less than $1000 in it at any given time. I live paycheck to paycheck. Bank wires or big checks would work if you moved a lot of money in and out of your account on a normal basis. Opening up accounts and depositing small checks looks like that would be structuring fraud...which I don't want to go to jail for. Check cashing places still have to record/report your name to the gov.. Visiting Costa Rica to pick-up in person sounds insane, and I don't know of one book that would do that. Opening an off-shore account just sounds like I'm trying to avoid taxes. I've spoken with many people on this one, including a tax attorney, general lawyer, tax accountant, and you...the forum. For every good response I've received, I have had another tell me that it's not a good response at all. However, your responses are better than the people I've paid for an hour of their time.
There has to be thousands of people in the U.S. that have won some pretty big payouts from offshore books/casinos. What they do with collecting is the biggest mystery that might never be known until gaming is someday/somehow(lol) regulated. This could be a pretty lucrative business to be in...helping people bring the cash home...an outlaw so to speak.
At this point I'd give someone 1/2 of my win for a foolproof, locksafe system to get it inland. Seriously, I may be happy walking away with $50K (after taxes, of course).
This is my last reply on this particular post. Thanks to everyone. It is hard to find topics about this matter...that is why I started the post...I hope it continues to help other people find the best ways to access their earned money (either through luck or hardwork).

think you did all the right things. ask questions. ask a lot of people. now make up your mind. sure that you have a few good choices to try. after a few months go by you will see that noone notices no matter how you do it and feel better about this. just way too many people doing way to many transactions for anyone to notice this. some ways you will have to pay taxes( take it all out) other ways you may want too but niot have to. because they will never find out unless you tell them.i would try not to tell too many people. you never know who you can trust, for 7 years(if you don't pay taxes). i'm sure you will enjoy your good fortune for years without a single problem arising from this. please do not give away your winnings just to get this over. see how you feel 6 months down the road. no need to rush into anything. sportsbook.com has been around for many years. good luck.

[losturmarbles]

Finally...I have come to realize that there is no easy way to do this. It will have to be a slow pay system that will take years to complete (minus gambling losses through that time). Anything involving my personal bank account is insane. I literally have less than $1000 in it at any given time. I live paycheck to paycheck. Bank wires or big checks would work if you moved a lot of money in and out of your account on a normal basis. Opening up accounts and depositing small checks looks like that would be structuring fraud...which I don't want to go to jail for. Check cashing places still have to record/report your name to the gov.. Visiting Costa Rica to pick-up in person sounds insane, and I don't know of one book that would do that. Opening an off-shore account just sounds like I'm trying to avoid taxes. I've spoken with many people on this one, including a tax attorney, general lawyer, tax accountant, and you...the forum. For every good response I've received, I have had another tell me that it's not a good response at all. However, your responses are better than the people I've paid for an hour of their time.
There has to be thousands of people in the U.S. that have won some pretty big payouts from offshore books/casinos. What they do with collecting is the biggest mystery that might never be known until gaming is someday/somehow(lol) regulated. This could be a pretty lucrative business to be in...helping people bring the cash home...an outlaw so to speak.
At this point I'd give someone 1/2 of my win for a foolproof, locksafe system to get it inland. Seriously, I may be happy walking away with $50K (after taxes, of course).
This is my last reply on this particular post. Thanks to everyone. It is hard to find topics about this matter...that is why I started the post...I hope it continues to help other people find the best ways to access their earned money (either through luck or hardwork).

you want to pay someone 50% to get the cash in hand, just to turn around and pay income taxes on it anyway?

if you're not trying to avoid taxes just do what durito said to begin with. problem solved.

[durito]

have sportsbook.com transfer it to my account, i'll give you half in cash.

[heathcliffm]

durito's way seems to work and benefit you both tremendously if you can work out the logistics, but does seem worth the effort!

[Johnny 55]

Quick trivia question:

Name the number of people in the last 50 years that have been arrested, spent a day in jail, or been charged with placing a bet offshore.

Answer: Zero

I personally think you are throwing away a massive amount of money with your paranoid stance, just have them send you checks, deposit them, pay your taxes as gambling winnings. There are thousands of pros who make hundreds of thousands every year gambling and they just claim gambling winnings and pay your taxes. The U.S. government could care less about you winning the money by gambling offshore, they just want to be paid, if you do, you will have no problems. There are probably hundreds of people on this board who have been sent checks over the last 5 years that far exceed the amount you won and they have not had any problems.

[Cheese1976]

throw it down on a good 2 teamer! Lakers + Over...

[Eagle1958]

Try cashing a check drawn on a costa rican bank at a check cashing place. Good luck.

Every check that I ever received from a sportsbook was drawn on a US or Canadian bank. The check cashing places were happy to accept these checks with a smile and take their 2%. No questions asked.

[Hareeba!]

emigrate to a country which doesn't tax gambling wins or care that you play at offshore books, then withdraw it as fast as you can before the book folds

[Climate]

Finally...I have come to realize that there is no easy way to do this. It will have to be a slow pay system that will take years to complete (minus gambling losses through that time). Anything involving my personal bank account is insane. I literally have less than $1000 in it at any given time. I live paycheck to paycheck. Bank wires or big checks would work if you moved a lot of money in and out of your account on a normal basis. Opening up accounts and depositing small checks looks like that would be structuring fraud...which I don't want to go to jail for. Check cashing places still have to record/report your name to the gov.. Visiting Costa Rica to pick-up in person sounds insane, and I don't know of one book that would do that. Opening an off-shore account just sounds like I'm trying to avoid taxes. I've spoken with many people on this one, including a tax attorney, general lawyer, tax accountant, and you...the forum. For every good response I've received, I have had another tell me that it's not a good response at all. However, your responses are better than the people I've paid for an hour of their time.
There has to be thousands of people in the U.S. that have won some pretty big payouts from offshore books/casinos. What they do with collecting is the biggest mystery that might never be known until gaming is someday/somehow(lol) regulated. This could be a pretty lucrative business to be in...helping people bring the cash home...an outlaw so to speak.
At this point I'd give someone 1/2 of my win for a foolproof, locksafe system to get it inland. Seriously, I may be happy walking away with $50K (after taxes, of course).
This is my last reply on this particular post. Thanks to everyone. It is hard to find topics about this matter...that is why I started the post...I hope it continues to help other people find the best ways to access their earned money (either through luck or hardwork).

I sent you a couple of pms. I highly advise you follow them. The two gaming lawyers I recommended are the best in the business. Bob Nersesian has helped me and friends of mine personally. He just got $200,000 last month for one of his clients. It was a US casino, but he got it. All of it. The rest is up to you. Good luck, and please keep us informed as to how things progress. You may make good money with your story alone.

[sportsbetwin]

Fly

[sportsbetwin]

Go to their headquarters in Costa Rica. Preorganise for them to pay you in cash - giving them a $25000 or so discount as an incentive.
Then your only problem is getting the cash back in the US!