#Internal Revenue Service

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IRS AC Backs Up Raising Tax Threshold On Slot Jackpots

Leaders of Congress, including Dina Titus (D-NV) who have been requesting from the Internal Revenue Service (IRS) to increase the tax reporting limit on jackpots from slot machines for almost a decade, have received some welcome support from an uncommon source, the agency's Advisory Council. Rising the threshold: In a ruling from November 2023, the…
Law
IRS AC Backs Up Raising Tax Threshold On Slot Jackpots
Yogonet

Chile: Ministry of Finance presents bill to regulate online gambling platforms

The Chilean Ministry of Finance has submitted to the Senate's Economy Committee the bill that regulates online gambling platforms. The bill was approved in the first stage by the Chamber of Deputies. The presentation, made by the Undersecretary of Finance, Heidi Berner, with the support of the Superintendent of Gaming Casinos, Vivien Villagrán,…
Law
Chile: Ministry of Finance presents bill to regulate online gambling platforms
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iGaming Business

Chile's Chamber of Deputies passes online gaming bill

The bill was approved by a large majority of the chamber. It aims to carve out a competitive online gaming market in the country, while protecting the health and safety of players. If passed into law, the bill would give new powers to several Chilean regulatory bodies. These include the Superintendence of Casino Games (SCJ), the Commission for the…
Industry
Chile's Chamber of Deputies passes online gaming bill
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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
A Comprehensive Guide to Gambling Taxes in Michigan
TaxScan

How Are Casino Winnings Taxed in Different Countries?

Picture this: You're sitting at a blackjack table, feeling the rush of adrenaline as you play your cards just right. Suddenly, luck is on your side, and you hit the jackpot. The chips are stacked high, and your pockets are bulging with winnings. But wait - before you start counting your newfound fortune, let's talk about the often-overlooked aspect…
Law
How Are Casino Winnings Taxed in Different Countries?
Review Journal

Should trespassers be paid jackpots? Gaming board seeks answers

Nevada regulators are working to address a policy question that has stood for years and was brought to light this month when a Mesquite casino was required to pay a jackpot to a player who was banned from the property. New details have emerged in a case involving gambler Rhon Wilson and the Casablanca hotel-casino, which was ordered to pay Wilson…
Law
Should trespassers be paid jackpots? Gaming board seeks answers
West Island

Nevada Gaming Board Debates Rights of Banned Casino Winners

The Nevada gaming authority has been deliberating a possible shift in gambling regulations regarding winners who have previously been banned from casinos. A notable member of the Nevada Gaming Control Board (NGCB), George Assad, argues that those trespassing on the premises they've been ousted from should not be collecting their prizes. This…
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Review Journal

Trespassers winning big: Nevada regulators tackle growing problem

Nevada regulators are working to address a policy question that has stood for years and was brought to light this month when a Mesquite casino was required to pay a jackpot to a player who was banned from the property. New details have emerged in a case involving gambler Rhon Wilson and the Casablanca hotel-casino, which was ordered to pay Wilson…
Law
Trespassers winning big: Nevada regulators tackle growing problem
Blockchain Reporter

Is Crypto Gambling Legal in the US?

Navigating the legality of crypto gambling in the U.S. is a complex task. The rules can differ significantly from state to state, making it essential for players and operators to be well informed. For a thorough understanding of the subject, this article has been expertly reviewed by specialists in the NJCasimile.com team. So, is crypto gambling…
Crypto
Is Crypto Gambling Legal in the US?
Nevada Current

Feds investigating Las Vegas casinos, say sources

Federal law enforcement agents from California are investigating allegations that current and former Las Vegas hotel employees used casino assets to pay gambling debts and provided confidential customer data to an illegal gambling ring that operated for almost two decades, according to sources. A state employee, who asked not to be identified for…
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Do You Have to Pay Taxes on Gambling Winnings? (Hint: Yes)

Apps and online platforms make it easier than ever to gamble away your money. Americans gambled with over $54.93 billion in 2022 - a record-breaking amount. That trend gained momentum during the first four months of 2023, when commercial gambling revenue was tracking 13.8% ahead of last year's pace, according to the American Gaming…
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The Rugby Paper

This Is What You Need To Know

Online casinos have become increasingly popular as a form of entertainment and a way to potentially win money from the comfort of our own homes. However, one important aspect that often gets overlooked is the tax implications of online casino winnings. In this article, we will explore the topic of online casinos and taxes, providing you with the…
Law
This Is What You Need To Know
ATS

Full Casino Review and Welcome Bonus

Gambling Problem? Call or TEXT 1-800-Gambler 21+ 2000 Gold Heart Coins June, 2023 Sportsbook overall rating 5/5 Social casinos have become increasingly popular in recent years across the United States and beyond. These platforms typically offer players an opportunity to win real cash prizes without risking any real money and also allow users to…
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Full Casino Review and Welcome Bonus
Urban Matter

Golden Hearts Casino USA Promo & Bonus Code 2023

Golden Hearts Casino is a social and sweepstakes casino established in 2020, which has since gained immense popularity among US players. Its unique approach makes this online site really stand out from its competitors. At Golden Hearts, players can play their favorite games for free and benefit their preferred charity at the same time. Here we will…
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Golden Hearts Casino USA Promo & Bonus Code 2023
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How To Pay Taxes On Sweepstakes Winnings: Stake.us, Chumba Casino & Luckyland Slots

When you play at recommended online casinos, you may secure a real cash win. Sweepstakes and social casinos offer many ways to win real prizes. With this in mind, it is important that you know exactly what you need to do, who you should report it to, and what is taxable income. Continue reading to find out more about taxable income and these top…
Law
How To Pay Taxes On Sweepstakes Winnings: Stake.us, Chumba Casino & Luckyland Slots
The Times Of Northwest Indiana

Don't forget Uncle Sam knows you won that jackpot

If you're a recreational casino gambler, it can mean some unusual record keeping, especially if luck is on your side and you win a jackpot playing the slot machines. In the event you didn't maintain the appropriate records for your 2022 return, don't drop too far behind when it comes to keeping track of your casino outings this year. Collect a slot…
Winnings
Auralcrave

All About Florida Lotteries Online

The Florida Lottery has long been a prominent state lottery in the United States. To aid players in their pursuit of potential wins, this article will explain how to play a variety of different lottery games remotely. In addition to multi-state jackpots and scratch-offs, there are also drawings that provide chances to win prizes. While…
Lottery
All About Florida Lotteries Online
The Motley Fool

Here's How Gambling Winnings Are Taxed

Don't subject yourself to hefty penalties by forgetting to pay taxes on your winnings. Any gambling winnings are subject to federal income tax. If you win more than $5000 on a wager, and the payout is at least 300 times the amount of your bet, the IRS requires the payer to withhold 24% for income taxes. Any gambling losses can offset your gambling…
Law
Here's How Gambling Winnings Are Taxed
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Review Journal

Casino gambling winners should be prepared for IRS tax consequences

Imagine sitting at your favorite slot machine inside your favorite local casino when the big one hits. The bells and whistles go off, the lights pulsate and people you don't even know surround you with congratulatory pats on the back and high-fives. It must be a fabulous feeling - one I've never experienced. A casino worker is summoned to pay out…
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Casino gambling winners should be prepared for IRS tax consequences
KOLO

Rep. Titus seeks threshold hike for slot winnings tax

LAS VEGAS (AP) - A Nevada lawmaker is planning another attempt to raise the reporting threshold for slot machine winnings. Rep. Dina Titus told the Las Vegas Review-Journal that the landscape has changed dramatically since 1977 when Nevada was the only state offering legal casino gambling. Since then, whenever a slot player wins a jackpot of more…
Law
Rep. Titus seeks threshold hike for slot winnings tax
AP News

Nevada lawmaker seeking tax hike for slot machine winnings

LAS VEGAS (AP) - A Nevada lawmaker is planning another attempt to raise the reporting threshold for slot machine winnings. Rep. Dina Titus to the Las Vegas Review-Journal that the landscape has changed dramatically since 1977 when Nevada was the only state offering legal casino gambling. Since then, whenever a slot player wins a jackpot of more…
Law
Review Journal

Dina Titus optimistic slot machine jackpot tax threshold bill will succeed

Rep. Dina Titus, D-Nev., plans to take another swing at an archaic tax formula involving slot machine winnings by raising the reporting threshold. Whenever a slot player wins a jackpot of more than $1200, the operator - a casino, tavern, restaurant or convenience store, or even airport personnel - are required to prepare a W-2G form that reports…
Law
Review Journal

Nevada lawmaker optimistic slot machine tax threshold bill will succeed

Rep. Dina Titus, D-Nev., plans to take another swing at an archaic tax formula involving slot machine winnings by raising the reporting threshold. Whenever a slot player wins a jackpot of more than $1200, the operator - a casino, tavern, restaurant or convenience store, or even airport personnel - are required to prepare a W-2G form that reports…
Law
Nevada lawmaker optimistic slot machine tax threshold bill will succeed
CNBC

How gambling affects your taxes

If you win money betting on the Super Bowl this weekend, don't spend it all at once - you'll have to pay taxes on those earnings. The money you win through gambling - whether that's through gambling sitesor apps, casinos, raffles or fantasy sports leagues - is considered taxable income by the Internal Revenue Service. The fair market value…
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How gambling affects your taxes
News Talk KIT 1280

Will a Mega Millions Winner Come From CA, WA, or OR?

Recession? Inflation? Low wages? You won't be worried about any of the above if you win Tuesday's Mega Millions jackpot. The projected jackpot amount for the Mega Millions lottery drawing on Tuesday, January 10th, is nearing a record amount at $1.1 Billion. If you were to choose the popular one-time-payout option, you'd be receiving $568700000…
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Will a Mega Millions Winner Come From CA, WA, or OR?
The Street

Las Vegas, Casinos, Gamblers Get Huge IRS News (Jackpot)

Slot-machine players pump their money into the so-called one-arm bandits because they want to win a jackpot. It's a rare occurrence -- MGM Resorts International (MGM) - Get Free Report and Caesars Entertainment (CZR) - Get Free Report did not build Las Vegas/global casino empires by being generous -- but when it happens, the thrill makes all the…
Law
The Wall Street Journal

As Online Gambling Grows, So Does the Financial Crime Risk

Online gambling is booming across the U.S. and compliance experts caution that it creates opportunities for criminals to launder money or take part in other financial crimes. The U.S. has seen states pile into legal online gambling with fervor, eager for potential tax revenue. Since 2018, when the U.S. Supreme Court struck down a ban on sports…
Incidents
Malta Today

Is online gambling dividing a continent?

Different nations around the world have chosen to regulate their casino industries very differently. Canada and the United States have very different regulations in place when it comes to online gambling. Firstly, the legal age to gamble online in Canada is 19, compared to 21 in the US. Secondly, in contrast to the US, the Canadian government does…
Law
Is online gambling dividing a continent?
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Nigerian gambling market grows: Time for a self-exclusion programme

Gambling industry in Nigeria has been growing on a steady basis. There was a decline in 2016 due to economic reasons but after that, we can see steady growth period. Nigerian players like football and eSports. They like betting on these and once again we can add that the trend is continuing and growing on a regular basis. But, there is more to know…
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Nigerian gambling market grows: Time for a self-exclusion programme
Coin Rivet

Casino Taxes. Tax Comparison: Us vs. UK and Ireland

Each country has a specific set of laws regulating its casino industry. Gambling markets differ in many respects. For example, gambling is legal in some countries and illegal in others. Or there are certain forms of gambling that are legal, whereas others are not. Moreover, some countries don't allow certain payment methods to be used for betting.…
Finance
Casino Taxes. Tax Comparison: Us vs. UK and Ireland
The Fordham Ram

How to Reduce Tax Payments from Your Casino Winnings

The gambling industry in America is booming more than ever before. Las Vegas is thriving, and land-based casinos are popping up everywhere. Not to mention the amount of new online casinos that populates the online space. Gambling has always been a fast way to make more money for those who engage in it. Thanks to technological advancements and the…
Winnings
How to Reduce Tax Payments from Your Casino Winnings
The Will Nigeria

Soludo Suspends Operation Of Casino, Other Game Centres In Anambra

October 20, (THEWILL) - The Anambra State government on Friday, directed operators of Casino games, including Bet9ja, Betking, and others, to suspend operations in the State. A statement jointly signed by the Commissioner of Culture, Entertainment and Tourism, Donatus Onyenji, the chairman of Anambra State Internal Revenue Service, Richard Madiebo…
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Soludo Suspends Operation Of Casino, Other Game Centres In Anambra
Sahara Reporters

Governor Soludo Bans Bet9ja, Nairabet, Other Gambling Services, Casinos In Anambra

Popular gambling services in Nigeria include Bet9ja, 1960bet, Nairabet, 9jaPredict and BetNigeria. Governor Chukwuma Soludo of Anambra State has banned the operations of casinos and gaming centres in the state, including BetNaija over alleged "dark deals". Popular gambling services in Nigeria include Bet9ja, 1960bet, Nairabet, 9jaPredict and…
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Sportsfinding

Arguments for Joining Legal Casinos

If one wants to avoid breaking the law in their state, they should familiarise themselves with the specifics of its betting laws before partaking in any wagering. To further illustrate my point, some states consider amateur wagering at home to be unlawful, while others characterise specific acts as criminal due to internet usage. Similar to the…
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Retail Technology Innovation Hub

Arguments for joining legal casinos

To further illustrate the point, some states consider amateur wagering at home to be unlawful, while others characterise specific acts as criminal due to internet usage. Similar to the condiment Marmite, people either love or hate betting. Many individuals, especially governments, feel strongly about either loving or hating it. Whether legal or…
Trust and Safety
Arguments for joining legal casinos
Recent Slot Releases

What You Need to Know About Gambling and Your 2021 Taxes

The deadline for filing 2021 federal tax returns looms on April 18 this year and for gamblers, it's an occasion to be reminded of how the tax code addresses their gaming activity. Generally speaking, that's not too kindly. The bottom line is simple and stern. As a rule, all income from gambling - including real money online casino play - must be…
Finance
What You Need to Know About Gambling and Your 2021 Taxes
The Jerusalem Post

Online gambling growth sees increase in financial crime risk

Authorities in the US and across the world have always spoken of the risk of money laundering that comes with gambling. The reasons are not hard to identify - gambling involves cash and is a good way for criminal elements to whitewash illegal earnings. The boom that online gambling is experiencing in the US currently raises concerns that it could…
Industry
Online gambling growth sees increase in financial crime risk
The Baltic Times

Taxes on Casino Winnings

When it comes to online gambling, all the countries on the planet can be separated into three categories. The first category is the one with countries that explicitly ban this activity. With punitive legal ramifications for those who break the rules. The second category is made up of countries where online gambling falls into a legal gray area. In…
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The Street

Las Vegas, Casinos, Gamblers Await Huge IRS News

Imagine paying the same rate for anything that you did back in 1977. In that year, the average host cost $54200, a gallon of gas was $0.63, and $3 bought a dozen eggs along with a gallon of milk with change to spare. 1977 was also the year the Internal Revenue Service (IRS) set its standard for the level of slot machine jackpot that must be…
Politics
Las Vegas, Casinos, Gamblers Await Huge IRS News
The Pantagraph

Man tries 'jackpot switch' to avoid casino slot prize going to unpaid child support, Northwest Indiana police say

MICHIGAN CITY - If a person at the casino offers to give you part of his or her slot machine jackpot if you'll do the paperwork required to claim it, it's not only a bad idea to say yes, it's also a crime. Billy Butler, of Mishawaka, is poised to learn that lesson the hard way. Butler is accused in LaPorte County of allegedly engaging in "jackpot…
Winnings
Man tries 'jackpot switch' to avoid casino slot prize going to unpaid child support, Northwest Indiana police say
Finance Magnates

NJ Online Casino Revenue Predicted to Keep Rising in 2022

According to reports by the New Jersey Office of the Attorney General, the total gaming revenue from racetracks, casinos, and their partners hit $404.1 million in December. It was a significant increment from the $312.9 million in December 2020. Even with the 29.1% increase, the state's casino revenue is expected to keep going up. In December 2021,…
Finance
NJ Online Casino Revenue Predicted to Keep Rising in 2022
8 News Now

The Powerball jackpot is $454 million. What are your odds to win?

LITTLE ROCK, Ark. (KARK) - The Powerball jackpot for Wednesday's drawing is now topping $454 million. While the odds of winning are long, where do they stack up compared to other out-of-the-ordinary events? According to the Multi-State Lottery Association, the group that runs the Powerball drawing with 45 state lottery offices, the odds of matching…
Winnings
Fox 5 San Diego

Odds of winning Powerball jackpot

LITTLE ROCK, Ark. (KARK) - The Powerball jackpot for Wednesday's drawing is now topping $454 million. While the odds of winning are long, where do they stack up compared to other out-of-the-ordinary events? According to the Multi-State Lottery Association, the group that runs the Powerball drawing with 45 state lottery offices, the odds of matching…
Winnings
Odds of winning Powerball jackpot
FOX 59

What are your odds of winning Powerball jackpot

LITTLE ROCK, Ark. (KARK) - The Powerball jackpot for Wednesday's drawing is now topping $454 million. While the odds of winning are long, where do they stack up compared to other out-of-the-ordinary events? According to the Multi-State Lottery Association, the group that runs the Powerball drawing with 45 state lottery offices, the odds of matching…
Winnings
What are your odds of winning Powerball jackpot
PSU

The evolution of online gaming in Canada

Canada has been a leader in the development of online gaming for many years now. The country has a rich online gaming history and is still going strong. Many people still play online gaming as a form of entertainment or socializing. However, with the increasing popularity of the internet and social media, gaming has also become a part of our…
Industry
The evolution of online gaming in Canada
The US Sun

04/05/22 Mega Millions winning numbers drawn ahead of 04/06/22 huge Powerball jackpot

ONE lucky person could get instantly ultra-rich thanks to the Mega Millions, and the most recent winning numbers have been revealed. The winning numbers for Tuesday night's Mega Millions lottery are: 22, 43, 60, 63, 64, and the Mega Ball is 18, with a Megaplier 2x. The top prize of Tuesday's Mega Millions jackpot is $81million on offer or…
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04/05/22 Mega Millions winning numbers drawn ahead of 04/06/22 huge Powerball jackpot
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Is Gambling Tax Free In Australia?

They are lucky since their winnings aren't taxed as in their homes countries. The Australian Taxation Act does not apply to winnings from gambling games, including lotteries. Those who buy a betting business or who place a bet at a gambling casino will only have to pay tax when their winnings are received. Taxation may also apply to professional…
Finance
Pulse

New Jersey Gambling Market Hits $4.74 Billion for ‘21, Predictions For ‘22

In the United States, the state of New Jersey reportedly brought in $4.74 billion in total gambling revenue for 2021, and economists expect even bigger numbers through Q1 of this year, as sports betting hits new highs. According to NJ's Office of the Attorney General, "Total Gaming Revenue reported by casinos, racetracks, and their partners for…
Winnings
New Jersey Gambling Market Hits $4.74 Billion for ‘21, Predictions For ‘22
ICSTD

How Much Tax Do Casinos Pay Uk?

of profits will rise from 15% to 21% on 1 October 2019, though that rate will still remain low by comparison. A UK casino's earnings determine how much it is taxed. The income tax rate can range between 15% and 50% on winnings from games such as poker, poker, and blackjack, depending on the location. In contrast, the tax rate for land-based slots…
Finance
The Times Of Northwest Indiana

Antiquated jackpot reporting threshold close to being raised

Every slot player knows the significance of a $1200 jackpot. Since 1977, it has been the threshold which triggers a hand-pay and alerts the casino that the machine must be taken out of service until the winner is paid by members of the staff and presented with a W-2G tax reporting form that is sent to the Internal Revenue Service. At one point a…
Winnings
Antiquated jackpot reporting threshold close to being raised
The Nevada Independent

Indy Gaming: Three years later, no action in D.C. to raise jackpot tax threshold

Good morning, and welcome to the Indy Gaming newsletter, a weekly look at gaming matters nationally and internationally and how the events tie back to Nevada. If a colleague or associate emailed this newsletter to you, please to sign up and receive your own copy of Indy Gaming in your inbox. - Howard Stutz Congressional representatives and the…
Winnings
Indy Gaming: Three years later, no action in D.C. to raise jackpot tax threshold
Pennsylvania Business Report

Legislation would raise tax threshold for slot machine winnings

Legislation recently introduced in the U.S. House of Representatives would raise the tax threshold for reporting slot winnings to the Internal Revenue Service from $1200 to $5000. U.S. Reps. Guy Reschenthaler (R-PA) and Dina Titus (D-NV), Congressional Gaming Caucus co-chair-members, introduced the Shifting Limits on Thresholds (SLOT) Act. The…
Winnings
Review Journal

Bill would raise tax reporting limit for casino jackpots

WASHINGTON - Citing inflation, the Congressional Gaming Caucus filed a bill Thursday to raise the threshold when gamblers are required to report their slot machine jackpot wins to the Internal Revenue Service. The bipartisan bill filed by Rep. Dina Titus, D-Nev., and Rep. Guy Reschenthaler, R-Pa., would raise the $1200 trigger for reporting…
Finance
Bill would raise tax reporting limit for casino jackpots
Review Journal

Bill would raise threshold on IRS reporting for slot machine winnings

WASHINGTON - Citing inflation, the Congressional Gaming Caucus filed a bill Thursday to raise the threshold when gamblers are required to report their slot machine jackpot wins to the Internal Revenue Service. The bipartisan bill filed by Rep. Dina Titus, D-Nev., and Rep. Guy Reschenthaler, R-Pa., would raise the $1200 trigger for reporting…
Winnings
Bill would raise threshold on IRS reporting for slot machine winnings
U.S. Department Of Justice

Covid Fraudster Returned to Custody Following Discovery of Las Vegas Casino Activities

RALEIGH, N.C. - A Greenville man was returned to custody after violating the terms of release pending service of his prison sentence. In May of 2021, Shawn Allen Farmer, 53, of Greenville, was sentenced to 15 months in prison for fraudulently obtaining Covid-19 disaster loans, and for engaging in bank fraud using stolen Social Security numbers.…
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The Boca Raton Tribune

A New Jersey Winner With The 3.5 Million Jackpot

Playing games has been an amazing and lovely activity for many people worldwide. One form of online game that attracts more fans daily is internet slots Australia. In casino games, there are wide categories of games in the catalogue that players can choose from. If one game does not interest the player, such can switch to another game for ample…
Winnings
A New Jersey Winner With The 3.5 Million Jackpot
Casino City Times

The risk of gambling on unregulated gaming sites in Michigan

Gaming News 12 December 2021 (PRESS RELEASE) -- Michigan residents who place wagers on unregulated gaming sites may gamble on more than they expected and become identity theft or deposit theft victims, said Michigan Gaming Control Board Executive Director Henry Williams."If you share personal information with an unregulated gambling site, there are…
Law
Fox 17

Michigan Gaming Control Board warns of unregulated gambling sites

LANSING, Mich. - Michigan residents who place wagers on unregulated gaming sites may gamble on more than they expected and become victims of identity theft or deposit theft. Henry Williams, executive director of the Michigan Gaming Control Board, warned residents of these sites in a news release Monday. "If you share personal information with an…
Gambling Sites
Michigan Gaming Control Board warns of unregulated gambling sites
The US Sun

11/09/21 Mega Millions of $45M drawn TONIGHT after 11/08/21 Powerball

TONIGHT's Mega Millions jackpot is worth $45million, and the winning numbers have been revealed. According to the Mega Millions website, the winning numbers for Tuesday, November 9 were 09, 14, 16, 26, and 49. The yellow mega ball was 14 and the Megaplier 3X. Meanwhile, last night's winning numbers for the $151million Powerball jackpot were 21, 46,…
Lottery
11/09/21 Mega Millions of $45M drawn TONIGHT after 11/08/21 Powerball
Vegas Slots Online

LA Casino Fined $500,000 for Money Laundering Failures

A casino in Los Angeles has received a $500000 fine for money laundering failures relating to a high roller who used millions of dollars in cash to play baccarat. On Friday, federal prosecutors stated that the Bicycle Hotel & Casino did not properly alert the Internal Revenue Service (IRS) and financial regulators about the actions of the unnamed…
Incidents
LA Casino Fined $500,000 for Money Laundering Failures
Market Watch

LA casino fined $500,000 for looking the other way when gambler brought duffle bags stuffed with $100 million for marathon gambling sessions

These wagers were too rich for the Department of Justice's blood. A Los Angeles casino was hit with a hefty fine for failing to properly alert financial regulators and the Internal Revenue Service when a "high roller" walked in with $100 million in cash to bet on games of baccarat. Federal prosecutors say the unnamed whale - who was described...
Finance
LA casino fined $500,000 for looking the other way when gambler brought duffle bags stuffed with $100 million for marathon gambling sessions
WNEM

Expert: Michigan gamblers see big tax bill from winnings

It's no secret sports betting can be lucrative. Turns out when gamblers win, the Internal Revenue Service is victorious too. Marion Jane, a certified public accountant at Saginaw Valley Business Services, says players could see a big tax bill. "If you're starting and you do spend a significant amount of money and/or time or win something that is of…
Winnings
The US Sun

11/02/21 lotto of $26MILLION drawn TONIGHT before 11/03/21 Powerball

The Mega Millions drawing tonight is worth $26million and one lucky player could win it all, after the Powerball from Monday night went without a winner and grew even larger. Tonight's Mega Millions numbers are 5, 10, 26, 58, and 65. The Mega Ball is 9, and the Megaplier is 2. The last Mega Millions drawing on October 29 revealed the winning…
Lottery
11/02/21 lotto of $26MILLION drawn TONIGHT before 11/03/21 Powerball
Vegas Slots Online

Illegal Southern Gambling Ring Trio Sentenced in Georgia

A federal court in Georgia has handed out sentences to three men from the Deep South for illegal gambling operations, with combined forfeiture and restitution of over $650000. [Image: Shutterstock.com] Acting US Attorney for the Southern District of Georgia (SDGA), David H. Estes, has announced the sentencing of an illegal sports betting ringleader…
Finance
Illegal Southern Gambling Ring Trio Sentenced in Georgia
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
Still No Action from the IRS and Treasury on Slot Jackpot Limit
Vegas Inc

Updating jackpot threshold would be a win-win

A proposal to raise the threshold at which gamblers must report their slot winnings isn't going to make or break Las Vegas, but it would offer a bit of help for the Nevada economy at a time when we really need it. Gaming industry experts say they're optimistic that Congress will act soon on the proposal, which would increase the current level of…
Winnings
Updating jackpot threshold would be a win-win
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