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How much to bet on Mayweater?

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Views: 1953
Posts: 14
 
Prospect
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Joined: Jul, 2017
Posts: 24
Posted: #1
 What I really wanna know is how to avoid reporting to the IRS? I am willing to drive to Las Vegas and place the bets in person. What amount should I place to bets at to avoid filling out the dreaded IRS forms? I have heard that if I WIN $1000 I will receive a form? I dont know if this is true but I do want to know what the criteria is for tax reporting. ANY help would me MOST APPRECIATED. 
 
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Joined: Feb, 2009
Posts: 8426
Posted: #2

reporting what to the IRS? stop with the clandestine concept, you can bet (legally) as much money as your heart desires..

"I have heard that if I WIN $1000 I will receive a form"

NO you do not....one more time; "you are not taxed for making a bet, or for winning a bet" in Nevada, (state or Fed's)

enjoy the fight, if it ever happens....


 
Prospect
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Joined: Jul, 2017
Posts: 24
Posted: #3
 While I am delighted to hear this I am puzzled about it? So gambling taxes do not apply to sports bets?
 
Veteran
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Joined: Dec, 2006
Posts: 4321
Posted: #4
You will get a W- 2G withholding if the payout is 300-1 and you will have to show SS# if you bet $10k for $-laundering purposes.
Take the coins out of the cup holder in the car and cash out your Bonds and bet it all on a sure thing.
 
Prospect
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Joined: Dec, 2015
Posts: 111
Posted: #5
McGregor wins in a knockout it's only way u can beat Floyd in Vegas Pacquiao beat him fair and sq last fight and Floyd still got decision it's gross I hope McGregor makes him need smelling salt
 
Prospect
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Joined: Apr, 2010
Posts: 236
Posted: #6
Mcgregor wont land a punch. His Sparring partner knocked him out but don't tell MMA fans. Let them bet Mcgregor so we can get good odds
 
Veteran
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Joined: Sep, 2009
Posts: 2090
Posted: #7
Hit Vegas in June and saw Mayweather -700, it's the easiest bet in the history of boxing but didnt want to tie up $700 for a few months.

Have to think syndicates will/have been pounding Mayweather. Seriously the line should be 50/1

 
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Joined: May, 2014
Posts: 5110
Posted: #8
lol good luck laying 6000 to win 1000. jump off a cliff instead 
 
Prospect
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Joined: Dec, 2015
Posts: 111
Posted: #9
I'll take all your Mayweather wagers if you can provide proof of who you are and where you live. I like Connor so I'm only willing to take Mayweather's
 
Prospect
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Joined: Dec, 2015
Posts: 111
Posted: #10
I'll take all your Mayweather wagers if you can provide proof of who you are and where you live. I like Connor so I'm only willing to take Mayweather's
 
Prospect
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Joined: Jul, 2017
Posts: 24
Posted: #11
 I accept your wager Whiteybulger617. How can we complete this deal?
 
Captain
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Joined: Jul, 2016
Posts: 5440
Posted: #12
if its more than 10k you have to report it 
 
Prospect
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Joined: Nov, 2010
Posts: 276
Posted: #13
I can confirm that you dont get a tax form or anything for winning bets of over $1000, just a "Wow!  Congratulations!" from the guy at the register
 
 
Prospect
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Joined: Jul, 2017
Posts: 24
Posted: #14
Quote Originally Posted by LABOOKIE:

if its more than 10k you have to report it

Report it for laundering reasons or for irs purposes?
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