#Department of Treasury

themanchestermirror.com

Michigan bet big on online gambling. We’re now No. 1

by Mike Wilkinson (Bridge Michigan) Michigan is the No. 1 state for online gambling after an explosive 22% jump last year, according to data compiled by the American Gaming Association and released this week. Bettors wagered a combined $1.92 billion through online gaming in Michigan last year - about $115000 more than in No. 2 New Jersey, the…

Finance ・ 26 February 2024

theregister.com

North Korea turns to designing gambling websites for cash

North Korea's latest money-making venture is the production and sale of gambling websites that come pre-infected with malware, according to South Korea's National Intelligence Service (NIS). The Service on Wednesday identified South Korean cyber crime organizations as buyers of the sites. Reports allege that the North Korean faction responsible for…

Gambling Sites ・ 19 February 2024

The Buffalo News

Top 4 Michigan Online Casinos

Michigan is among a small handful of states with online casino gambling. Fifteen online casinos now operate in the Wolverine State after it legalized the practice in 2021. If you are not in NJ, PA, MI or WV, you still have the option of playing at sweepstakes or social casino sites. These sites offer similar games, allowing you to win cash prizes.…

Payment Methods ・ 26 December 2023

M Live

A Comprehensive Guide to Gambling Taxes in Michigan

When you ask somebody about hubs of casino gambling in the United States, it's likely that Las Vegas, Nevada or Atlantic City, New Jersey, will be the most common answer. After all, those locations have been staples of American gambling and sports betting In recent years, however, gambling legalization has begun sweeping the nation, with more and…

Law ・ 13 November 2023

Wild Casino

$5,000 Welcome Bonus

Deposit bonuses are optional and must be requested by the player when making a deposit. For example, use Promo Code WILD1 to a 100% Casino bonus. Your bonus request will be assessed and, if your account is eligible for the bonus, it will be added to your account immediately.

Royals Blue

Latest Michigan Online Casino News

Michigan online casino news providers are abuzz with the newly approved operators. With this advancement, Michigan residents and visitors are now able to locate and explore safe, licensed online casinos and sports betting platforms - a dream come true for casino enthusiasts seeking to engage in gaming without leaving their homes. Making full use of…

Bonuses ・ 21 February 2023

FinTech Global

How to ensure casino compliance

As an industry that is constantly bringing in new customers and transactions, the casino sector is a key target for criminals and money launderers, claims Alessa. Due to this appeal, casinos have become one of the most heavily regulated businesses in operation. These regulations, Alessa claims, while necessary - can be difficult to understand and…

Trust and Safety ・ 31 August 2022

U.S. Department Of Justice

Ohio Man Indicted for Gambling and Tax Offenses

In a second superseding indictment unsealed today, a federal grand jury in Cleveland, Ohio, charged Christos Karasarides Jr., of Canton, with tax evasion, filing false tax returns, witness tampering, falsifying records and five separate conspiracies to operate illegal gambling businesses, defraud the IRS and commit money laundering. In May 2021,…

Finance ・ 25 June 2022

Yogonet

Los Angeles County casino pays $500K fine after gambler bet $100M in cash on marathonic sessions

In 2016, and over the course of eight months, a "high roller" made over 100 visits to the Bell Gardens casino and exchanged millions in cash for chips. The casino went under investigation after it failed to report back to the Department of Treasury, violating the law that stipulates any casino is required to file a currency-transaction report and a…

Poker ・ 11 February 2022

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WXYZ

Win big, lose big: the unforeseen problems with online betting & gambling in Michigan

DETROIT, MI (WXYZ) - Gambling in Michigan continues to explode as Michiganders continue to break online betting records. But there's a potential new problem coming up in the new year that many gamblers may not be aware of: taxes. Earlier this week, we got this email from a viewer who wanted to sound an alarm about Michigan Income Taxes on…

Winnings ・ 05 November 2021

The Bond Buyer

Gambling revenues bolster Detroit's fiscal recovery

Rebounding casino and new online gambling tax revenues will give Detroit's general fund a boost this year and in the coming ones as it tackles looming pension contribution pressures. The city's estimating conference revised general fund projections for the fiscal 2022 which began July 1 to $1.1 billion from $995 million thanks mostly to $66 million…

Finance ・ 17 September 2021

Lexology

Is the state lottery the new online casino?

Retail lottery games and traditional casino games have long been easy to distinguish from each other. For example, Powerball tickets or scratch-off tickets are easily identified as conventional lottery games; whereas slot machines and roulette tables are easily identified as traditional casino games. However, with the advent of Internet and mobile…

Lottery ・ 14 September 2021

Gambling News

Still No Action from the IRS and Treasury on Slot Jackpot Limit

The slot jackpot threshold for reporting to the IRS was established back in 1977. Any win, equal or greater than $1200 needs to be reported with IRS Form W-2G by both patrons and casinos. Despite that the gaming industry urged for changes of the threshold, so far no actions were taken by the IRS or the Treasury. Established back in 1977, the…

Winnings ・ 07 May 2021

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