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A question about U.S. players

Discussion in 'Online Casinos' started by tim5ny, Dec 11, 2003.

    Dec 11, 2003
  1. tim5ny

    tim5ny Quit Gambling

    I have read many times that a progressive jackpot was won by a United States player. My question is this: what does the government do with these people since internet gambling is considered illegal for U.S. players? You obviously can,t hide that large sum of money. Anyone know the answer to this?
  2. Dec 11, 2003
  3. jpm

    jpm Dormant account

    There are alot of grey areas when it comes to internet gambling here in the states. As I understand it, there are only a few states that specifically outlaw internet gambling. It is illegal for anyone in the US to OWN an internet gambling site though, but there are some who do anyway.

    I'm not sure if the gov't would know about it if you deposited a $100,000 check to your bank account. If it was in cash they definately would be notified, but not sure about a check. Then it would be your responsibility to report it on your taxes on April 15th as a gambling win. That gives you plenty of time to visit the convenience stores and scoop up all the losing lottery tickets you can to help offset your win with a bunch of 'losses'.
  4. Dec 11, 2003
  5. lanidar

    lanidar Dormant account

    Avenel, New Jersey
    From what I understand...ANY deposit $10,000.00 or more MUST be reported, by the bank, to the Government . :(

    Once the funds are reported to the United States Federal Government, appropriate taxes WILL be paid.

    Not that I would personally know anything about this... :uhoh:

    (Message edited by lanidar on December 11, 2003)
  6. Dec 12, 2003
  7. kniepm

    kniepm Dormant account

    How about multiple NETeller withdrawals of $9,999? Just keep in mind the charge that sent Capone to prison.
  8. Dec 13, 2003
  9. lanidar

    lanidar Dormant account

    Avenel, New Jersey
    AY...My old man was NOT arrested for multiple Neteller withdrawals.
    Anyways...he was framed! ;)
  10. Dec 13, 2003
  11. spearmaster

    spearmaster RIP Ted

    Devil's Advocate
    internet gambling is considered illegal for U.S. players?

    That's the key. Internet gambling is not illegal for US players. Sports betting across state lines is. Only a very limited number of states have any laws regarding online gambling - and federal law does not specifically address this issue, nor can it be definitively said to ban online casino gambling.

    So, the crux is this - if you report your winnings (as you should), would this be a problem?

    Federal law requires you to report income, including gambling income. When you report the income, you report $x as income from gambling proceeds - since casinos do not give you receipts for your winnings (except when they are required to anytime you win a jackpot of $1200 or more if I'm not mistaken) there is no way you can provide a receipt.

    As long as you file your tax return properly you should not get into any trouble - after all, you are paying the government their share of the proceeds.

    Disclaimer: I am not a legal advisor nor a tax expert and this post represents an opinion based on information found on the Internet and elsewhere - you should seek qualified legal advice on this matter.
  12. Dec 14, 2003
  13. jinnia

    jinnia Dormant account

    Lady of Leisure
    Bite, ME
    The Wire Act of 1960 says it's illegal to place a 'sportting' bet using any form of wire transmission. And now the Federal government is trying to construe that as any form of gambling, and trying to say you're using a wire transmission while on the internet.

    Instead of just legalizing it as they have alcohol then controlling it, taxing the hell out of it (of which money is all it boils down to), they'll keep up this frutile effort in trying to stop it. They have indeed made a mark, but online gaming/gambling will NOT be stopped completely!

    It is being left up to state legislation to either allow their citizens to gamble online or make it illegal within that state.

    Eastern District of Missouri and New York State Attorney General offices have been playing an active roll against online gambling of any kind. There a more states doing so, but these two mentioned are working along side of the Department of Justice.

    I have a question.. If the US is so damn determined to stop online gambling all together, then why is the United State Treasury Department working with Panama to get them going in it??
  14. Dec 14, 2003
  15. cipher

    cipher Banned member - being a jerk

    Short and sweet this is what United States District Court Judge Stanford Duval had to say in issuing an opinion about the Federal Wire Act.

    "Internet Gambling's main nemesis (The Federal Wire Act) applies only to sports wagering."

    Have a good one.


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