While it's still early, I'd like to seek any advice while I plan for a BCS champ ticket I have. I laid $2,500 in Vegas (prominent sports book) to win $8,750 for a total return of $11,250 and looking at alternative ways to cash it.
- Are there any proxy services that would buy winning sports tickets at a discounted price?
I've run into some crypto gains and anticipate selling this year to put me in a much larger tax bracket, thus substantially taxing my $8750 winnings.
*Note: next time I'll be playing two separate tickets for $1250 each, lesson learned :)
Any other suggestions would be great, thanks!
To remove first post, remove entire topic.
Hey all,
While it's still early, I'd like to seek any advice while I plan for a BCS champ ticket I have. I laid $2,500 in Vegas (prominent sports book) to win $8,750 for a total return of $11,250 and looking at alternative ways to cash it.
- Are there any proxy services that would buy winning sports tickets at a discounted price?
I've run into some crypto gains and anticipate selling this year to put me in a much larger tax bracket, thus substantially taxing my $8750 winnings.
*Note: next time I'll be playing two separate tickets for $1250 each, lesson learned :)
You made a bet in Vegas that paid approx. 3.5 and the pay off is way below the slot machine/parlay limit of 300-1 that would require withholding. If you were to walk up the teller, you could get payed in chips,cash, check or bankwire if this is a big time sportbook. You aren't wagering $10k or more so the title 36 reporting doesn't apply. If you mail the ticket,fill out the back of the tix within 90days and they will mail you a check.The book didn't take your ss# when you made the bet and they aren't going to report this win to IRS when they pay off.
I don't know what lesson you learned but I hope 1 was that you shouldn't be afraid of winning $.
A proxy would need to verify that the ticket is legit and not stolen or duplicate.I would guess they would take at least 25%.
Why alternative?? I've cashed tix for 12k that didn't require title 36 and they paid me like I played it.
Title 36 is a matter from the Banking Act of 1990 that requires a ss# when a bettor shows 10k or more and is a way to trail money laundering and drug $.The ss# is reported to IRS but they don't know if the bet was won/lost or the payoff.Its the same requirement if you were to put a down payment of $15k on a car.The dealer would file title 36.
This bet ain't nobodys business but your own....
You made a bet in Vegas that paid approx. 3.5 and the pay off is way below the slot machine/parlay limit of 300-1 that would require withholding. If you were to walk up the teller, you could get payed in chips,cash, check or bankwire if this is a big time sportbook. You aren't wagering $10k or more so the title 36 reporting doesn't apply. If you mail the ticket,fill out the back of the tix within 90days and they will mail you a check.The book didn't take your ss# when you made the bet and they aren't going to report this win to IRS when they pay off.
I don't know what lesson you learned but I hope 1 was that you shouldn't be afraid of winning $.
A proxy would need to verify that the ticket is legit and not stolen or duplicate.I would guess they would take at least 25%.
Why alternative?? I've cashed tix for 12k that didn't require title 36 and they paid me like I played it.
Title 36 is a matter from the Banking Act of 1990 that requires a ss# when a bettor shows 10k or more and is a way to trail money laundering and drug $.The ss# is reported to IRS but they don't know if the bet was won/lost or the payoff.Its the same requirement if you were to put a down payment of $15k on a car.The dealer would file title 36.
I went to the post office and mailed my ticket that was over 10K via certified mail, will let you know when i get it or if i ever do. This is my first time mailing a ticket
What casino?
You will definitely get it. You have zero to worry about there.
Support your local animal shelter. I am on twitter.
Quote Originally Posted by reppendayay:
I went to the post office and mailed my ticket that was over 10K via certified mail, will let you know when i get it or if i ever do. This is my first time mailing a ticket
What casino?
You will definitely get it. You have zero to worry about there.
When you mail in a winning ticket you must send it certified mail which means you will have someone from casino sign @ LasVegas postoffice.This insures that there isn't "loss" in transit.
The op will get a check in a couple weeks. Slow down Zebra....
When you mail in a winning ticket you must send it certified mail which means you will have someone from casino sign @ LasVegas postoffice.This insures that there isn't "loss" in transit.
The op will get a check in a couple weeks. Slow down Zebra....
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