After legalizing sports betting in Arizona in 2021, the state has since collected more than $35 million in taxes from gambling...
According to the law, in the vast majority of states and countries, gambling winnings are fully taxable. They vary based on the amount won, and the type of game played.
There are two types of winnings- cash and non-cash. Cash winnings refer to the money scored while playing casino games, bingo, raffles, sweepstakes, poker, and so on, while non-cash winnings encompass stuff like car and voyage. So whenever you win, you need to report those winnings to the local tax collection agency, or else you risk dealing with not-so-pleasant consequences.
To make things work and to avoid any unpleasant situations, each gambler needs to be acquainted with the local rules and laws. Regulations vary from one country to another, and they are often updated.
This corner is full of handy bits of advice on what to do when you win, where to report taxes, how to properly fill in the tax forms if a professional gambler, and so on. It also features some excellent tips on how to fly safely with money, what to do in case police pulls you over on your way to or from Las Vegas (or any other place), and so on.
After legalizing sports betting in Arizona in 2021, the state has since collected more than $35 million in taxes from gambling...
A newly-filed class action complaint claims that hotel owners on the Strip conspired to artificially raise hotel room rates above...
Legislation from 2020 that restricts sports betting to just tribal territories in the State of Washington is being challenged by...
Questions are being raised regarding the function of unregistered auditors in the Chinese gaming hub of Macau, where several...
The Pennsylvania bank run by tycoon Louis A. DeNaples issued a $50 million loan from a taxpayer-funded initiative to assist...
A New York City resident has filed a lawsuit against an Atlantic City casino, its parent company, and its online betting...
The Nevada Gaming Control Board says its investigation tracked down an Arizona resident who left Las Vegas after a visit, not...
Opinion, by LV Bear Much has been written over the years about civil asset forfeiture, a constant danger to legal casino...
A scaled-back effort at civil asset forfeiture reform in Nevada, a perennial but unsuccessful legislative objective, again met...
Las Vegas defense attorney William “Bill” Terry, who handled some of the city’s most renowned cases during a...
Professional advantage player and poker player Phil Ivey and the parent company of Atlantic City’s Borgata Hotel Casino...
I have been pulled over by the police many times in my life and blackjack career, and seem to have mastered the art of not even...
Do trespasses automatically expire after a specific period of time and have to be reissued to remain effective? Scrooge...
Let’s say a busy red chipper to low green-chip player needs a bankroll of $50k for his risk of ruin to remain acceptable....
Here’s a general, hypothetical question: Suppose a low-stakes player was to bring only about $3000 on a trip, planning to...
Preferential shuffling is not illegal per se and cannot be made illegal per se. It is, however, likely that it is illegal in...
McBain: If you have for example $50k in investment income, and $30k in declared gambling income, and no other income, can you...
Question: If pulled over by police while carrying my traveling bankroll (“BR”) and asked, “Do you have a large...
