taxes and betting online in Nevada

Forum: Las Vegas
Author: [Las Vegas] Topic: taxes and betting online in Nevada
jumba13462 PM jumba13462
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Posted: 8/4/2011 6:26:50 PM

obviously i don't know a lot about this subject. i was wondering if the Nevada taxes rule applies to winning online. ex betting at leroy's cantor cash outs

VegasGourmet PM VegasGourmet
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Posted: 8/5/2011 1:35:25 AM

FEDERAL tax law is over 300-1 and combined with a payout of over $600.

Nevada has nothing to do with taxes....their is no state income tax in Nevada.

Additionally, you cannot bet across state lines; so I am uncertain what you mean about "online" betting

jumba13462 PM jumba13462
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Posted: 8/6/2011 12:11:49 AM

i'm not asking about Nevada income tax. i'm asking about if i'm going to be tax on my winning. so if i do win 600 i'll be tax 2 bucks? 

of course i know i can't bet across state line. i'm thinking of moving to vegas if things go right.

VegasGourmet PM VegasGourmet
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Posted: 8/6/2011 3:36:34 AM

Gently, let me say it again......

You need to hit a bet that is paying more than 300 to 1 and for you to have bet at least $2, so that your payment is in excess of $600.....

You will not find that anywhere in the casino except at slot machines (jackpots) and horse race bets (trifectas, superfectas, etc)....

 

casheasy PM casheasy
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Posted: 8/6/2011 9:07:17 AM

Wow.

 

Thank you for your patience and sharing your expertise, VG. I actually thought the original question was going in a different direction. By that I mean, I thought he was asking about having a phone account and what IF they also go to online ....or at the very least this thing they're talking about where you have an account and bet from your hotel room.  You most likely read it correctly, and thanks for answering questions like that.

 

Some of the answers people seek are in threads that VG has been in on the first two pages. A lot of the time, if I have a question, I like to search through the first page or two and see if somebody already asked it. Anyway, hope that answered the jumba question and hope we're all getting ready for football season. 

 

 

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