I’m old school. I prefer dealing with private books I know and trust. My guy unfortunately passed cancer after a great 15 years relationship.. I hate online betting but have no other alternative.
I want to ask you all about the tax situation on wins. What % is taxed from let’s say a $2500 net win on a basketball game? Is it more than 25%? Less of whatever it may be.
Thanks in advance
You wont be tax with one single win unless its so massive I think with +30000 odds. But you’ll be taxed if your wins is > than losses. You can check it at the tax section of your account or if they see that you are worthy to be taxed you’ll be notified thru email and they will send you the form thru mail.
Yes @Way2Good is right but to add, it also depends on what state you are in. Here in NY if you win a bet with over 300-1 odds they will take the taxes out before sending it to your account when you withdraw and it will take several days (amount doesn't matter). But for normal wagers/not lotto ticket bets you pay the taxes at tax time with your regular income. There was also a recent bill passed about taxes being paid on losses on here is a thread that covers some of the basics
https://www.reddit.com/r/sportsbook/comments/1rhkx6f/what_to_know_about_the_new_2026_gambling_tax/
Established in 1995,
Hot Forum Topics
