How much to bet on Mayweater?

Question

What I really wanna know is how to avoid reporting to the IRS? I am willing to drive to Las Vegas and place the bets in person. What amount should I place to bets at to avoid filling out the dreaded IRS forms? I have heard that if I WIN $1000 I will receive a form? I dont know if this is true but I do want to know what the criteria is for tax reporting. ANY help would me MOST APPRECIATED.

phishfannola · Answer

What I really wanna know is how to avoid reporting to the IRS? I am willing to drive to Las Vegas and place the bets in person. What amount should I place to bets at to avoid filling out the dreaded IRS forms? I have heard that if I WIN $1000 I will receive a form? I dont know if this is true but I do want to know what the criteria is for tax reporting. ANY help would me MOST APPRECIATED.

sports_Network · Answer

reporting what to the IRS? stop with the clandestine concept, you can bet (legally) as much money as your heart desires..

"I have heard that if I WIN $1000 I will receive a form"

NO you do not....one more time; "you are not taxed for making a bet, or for winning a bet" in Nevada, (state or Fed's)

enjoy the fight, if it ever happens....

phishfannola · Answer

While I am delighted to hear this I am puzzled about it? So gambling taxes do not apply to sports bets?

666LES · Answer

You will get a W- 2G withholding if the payout is 300-1 and you will have to show SS# if you bet $10k for $-laundering purposes.Take the coins out of the cup holder in the car and cash out your Bonds and bet it all on a sure thing.

Whiteybulger617 · Answer

McGregor wins in a knockout it&#x27;s only way u can beat Floyd in Vegas Pacquiao beat him fair and sq last fight and Floyd still got decision it&#x27;s gross I hope McGregor makes him need smelling salt

cucamonga · Answer

Mcgregor wont land a punch. His Sparring partner knocked him out but don&#x27;t tell MMA fans. Let them bet Mcgregor so we can get good odds

SashimiKid · Answer

Hit Vegas in June and saw Mayweather -700, it's the easiest bet in the history of boxing but didnt want to tie up $700 for a few months.

Have to think syndicates will/have been pounding Mayweather. Seriously the line should be 50/1

EuroPro · Answer

lol good luck laying 6000 to win 1000. jump off a cliff instead

Whiteybulger617 · Answer

I&#x27;ll take all your Mayweather wagers if you can provide proof of who you are and where you live. I like Connor so I&#x27;m only willing to take Mayweather&#x27;s

Whiteybulger617 · Answer

I&#x27;ll take all your Mayweather wagers if you can provide proof of who you are and where you live. I like Connor so I&#x27;m only willing to take Mayweather&#x27;s

phishfannola · Answer

I accept your wager Whiteybulger617. How can we complete this deal?

LABOOKIE · Answer

if its more than 10k you have to report it

Redskin28 · Answer

I can confirm that you dont get a tax form or anything for winning bets of over $1000, just a "Wow!  Congratulations!" from the guy at the register

phishfannola · Answer

Report it for laundering reasons or for irs purposes?

How much to bet on Mayweater?

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