While it's still early, I'd like to seek any advice while I plan for a BCS champ ticket I have. I laid $2,500 in Vegas (prominent sports book) to win $8,750 for a total return of $11,250 and looking at alternative ways to cash it.
- Are there any proxy services that would buy winning sports tickets at a discounted price?
I've run into some crypto gains and anticipate selling this year to put me in a much larger tax bracket, thus substantially taxing my $8750 winnings.
*Note: next time I'll be playing two separate tickets for $1250 each, lesson learned :)
Any other suggestions would be great, thanks!
0
To remove first post, remove entire topic.
Hey all,
While it's still early, I'd like to seek any advice while I plan for a BCS champ ticket I have. I laid $2,500 in Vegas (prominent sports book) to win $8,750 for a total return of $11,250 and looking at alternative ways to cash it.
- Are there any proxy services that would buy winning sports tickets at a discounted price?
I've run into some crypto gains and anticipate selling this year to put me in a much larger tax bracket, thus substantially taxing my $8750 winnings.
*Note: next time I'll be playing two separate tickets for $1250 each, lesson learned :)
You made a bet in Vegas that paid approx. 3.5 and the pay off is way below the slot machine/parlay limit of 300-1 that would require withholding. If you were to walk up the teller, you could get payed in chips,cash, check or bankwire if this is a big time sportbook. You aren't wagering $10k or more so the title 36 reporting doesn't apply. If you mail the ticket,fill out the back of the tix within 90days and they will mail you a check.The book didn't take your ss# when you made the bet and they aren't going to report this win to IRS when they pay off.
I don't know what lesson you learned but I hope 1 was that you shouldn't be afraid of winning $.
A proxy would need to verify that the ticket is legit and not stolen or duplicate.I would guess they would take at least 25%.
Why alternative?? I've cashed tix for 12k that didn't require title 36 and they paid me like I played it.
Title 36 is a matter from the Banking Act of 1990 that requires a ss# when a bettor shows 10k or more and is a way to trail money laundering and drug $.The ss# is reported to IRS but they don't know if the bet was won/lost or the payoff.Its the same requirement if you were to put a down payment of $15k on a car.The dealer would file title 36.
This bet ain't nobodys business but your own....
0
You made a bet in Vegas that paid approx. 3.5 and the pay off is way below the slot machine/parlay limit of 300-1 that would require withholding. If you were to walk up the teller, you could get payed in chips,cash, check or bankwire if this is a big time sportbook. You aren't wagering $10k or more so the title 36 reporting doesn't apply. If you mail the ticket,fill out the back of the tix within 90days and they will mail you a check.The book didn't take your ss# when you made the bet and they aren't going to report this win to IRS when they pay off.
I don't know what lesson you learned but I hope 1 was that you shouldn't be afraid of winning $.
A proxy would need to verify that the ticket is legit and not stolen or duplicate.I would guess they would take at least 25%.
Why alternative?? I've cashed tix for 12k that didn't require title 36 and they paid me like I played it.
Title 36 is a matter from the Banking Act of 1990 that requires a ss# when a bettor shows 10k or more and is a way to trail money laundering and drug $.The ss# is reported to IRS but they don't know if the bet was won/lost or the payoff.Its the same requirement if you were to put a down payment of $15k on a car.The dealer would file title 36.
I went to the post office and mailed my ticket that was over 10K via certified mail, will let you know when i get it or if i ever do. This is my first time mailing a ticket
What casino?
You will definitely get it. You have zero to worry about there.
Support your local animal shelter. I am on twitter.
0
Quote Originally Posted by reppendayay:
I went to the post office and mailed my ticket that was over 10K via certified mail, will let you know when i get it or if i ever do. This is my first time mailing a ticket
What casino?
You will definitely get it. You have zero to worry about there.
When you mail in a winning ticket you must send it certified mail which means you will have someone from casino sign @ LasVegas postoffice.This insures that there isn't "loss" in transit.
The op will get a check in a couple weeks. Slow down Zebra....
0
When you mail in a winning ticket you must send it certified mail which means you will have someone from casino sign @ LasVegas postoffice.This insures that there isn't "loss" in transit.
The op will get a check in a couple weeks. Slow down Zebra....
If you choose to make use of any information on this website including online sports betting services from any websites that may be featured on
this website, we strongly recommend that you carefully check your local laws before doing so.It is your sole responsibility to understand your local laws and observe them strictly.Covers does not provide
any advice or guidance as to the legality of online sports betting or other online gambling activities within your jurisdiction and you are responsible for complying with laws that are applicable to you in
your relevant locality.Covers disclaims all liability associated with your use of this website and use of any information contained on it.As a condition of using this website, you agree to hold the owner
of this website harmless from any claims arising from your use of any services on any third party website that may be featured by Covers.
Hot Forum Topics
