Are either New Jersey or Delaware taking a taking a % on winning sports betting tickets?
If so, how much of a % do they take on winning sports bets?
Example of normal placed bet: Assume I make a straight bet (-110) of $110 to win $100, normally to cash this ticket out, I would collect $210 back to me. ($110 + $100 = $210)
Example of withheld tax bet: But lets say that there is a 4% withholding amount on winning tickets. Then I would be collecting ($110 + $96 = $206), that extra $4 would be withheld by the sportsbook since my "winnings" are 4% taxed.
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Are either New Jersey or Delaware taking a taking a % on winning sports betting tickets?
If so, how much of a % do they take on winning sports bets?
Example of normal placed bet: Assume I make a straight bet (-110) of $110 to win $100, normally to cash this ticket out, I would collect $210 back to me. ($110 + $100 = $210)
Example of withheld tax bet: But lets say that there is a 4% withholding amount on winning tickets. Then I would be collecting ($110 + $96 = $206), that extra $4 would be withheld by the sportsbook since my "winnings" are 4% taxed.
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