Im considering going to a vegas sportsbook to drop some serious cash on a game but...

I need to know how this works? Lets say i wanted to put 20k on a game and win, do i get paid the same day? Do i have to pay taxes, do they take my information?

if you lose the 20k nothing happens.

if you win the 20k they will hire some thugs to hunt you down and beat you until you give that 20k back.j/k.

i'm sure there are some limits set. if you win they would pay you the same day. you don't pay taxes on 20k......word of advice: don't tell anyone you won 20k.

You will have to pay about $10,000 in taxes.

 

Just as long as you stay away from the pit area you should be allright

can anyone with first hand experience help me out?

Yes, yes and yes. If you lose you just walk away. 

anything you win over 10,000 they tax... not sure about sportsbetting but most likely they will

i use to know people that bet 20k on a single game. don't see much of them anymore. they are currently in one of the following states:

broke

depressed

divorced

homeless

or all of the above.

why don't u bet it at 3 different books?

Curious about this myself....hope we get some real answers....

Lasvegas4newbies.com 

i don't know for certain, but since its a transaction over $10K, its likely they will take your info so they can report the winnings to the IRS. Then they will likely pay you in cash, check, person, whatever.

Go to the M,  place your 20k and enjoy..    Good luck,  you win you get paid cash immediately.   No taxes No info,  just 100's

They will take your info without a doubt

You can bet that much at any cantor book (hard rock, M, etc) or the Hilton thats about it in town

from experience I have bet 3000 on a game before at the casino.lucky I was I hit and collected the money the same day . But more than 10k I do not know but too be safe I think you shoudl split up the amount and bet at diff casino so you can avoid tax if there is any..might be a drive to bet a diff casino ahhha

Anything you win over $9,999.00 they tax you. So if you wager 10 grrrrr  and your payout is say 19,000.00 you get taxed on the 19grrr. Placed 4 bets diferent casino's. On balck jack roulette craps you don't get taxed you just walk away from the table. When you go cash in your chips just don't cash in over 10 grrrrr. All progressive games such as let it ride 3 card poker you get taxed at table over 10grrr.  I collected $8,900.00 off super bowl from mirage and just walked away. Tax only over 9999.00.  I do know this for a fact. I had the saints ml over Indy layed 7500.00 and was taxed 8725.00, I'm canadian though I received the dough all back when I filled a b12 somehting like that.

what if i place 4 $5000 bets at seperate times? can i ask to get paid in chips? are there ways around this?

sure just go to different bet guy each time. Paid in chips don't think so.

spread it out over 4 books  , you will have no problem

 

 

Very simple, I live here in Vegas. Bet the same bet in small amounts, and then collect one at a time from different sports writers at the windows. This way you won't go over the taxable amount.

TAKE 9900 CASH AND THE REST IN CHIPS AND THEN HIT THE CASHIERS WINDOWS ON YOUR WAY OUT