Amid the general diffusion of legal sports betting in almost half of the states, the US Congress is all set to debate eliminating the excise tax on the industry. A rare bipartisan bill will be put before the Congress with the hopes of eliminating the excise tax on sports betting operators. The bill that has …
US Congress to Debate Eliminating the Excise Tax on Sports Betting Read More »
With the unexpected launch, West Virginia has become the fourth US state with legal online casino gambling thanks to DraftKings to serve its first operator. The other three states are New Jersey, Delaware, and Pennsylvania. As the first operator that went live with West Virginia online casino, DraftKings announced its app is now available for …
Draftkings Launches Online Casino in West Virginia Read More »
Californian tribes have gained some ground on the road to legalizing sports betting as they obtained an extension for getting the issue on the voting ballot in 2022. The Superior Court decided in favor of the Californian tribes, allowing their leaders a 90-day extension to muster enough support that would push the sports betting proposal …
Californian Tribes Manage to Get Extension on Sports Betting Ballot Read More »
The state of Oklahoma has inched closer to legalized sports betting as it prepares to move to the Oklahoma Supreme Court, the state’s highest legal authority. As the matter is scheduled to be taken to court next week, it has become a heated issue among the state lawmakers. The executive move is aimed at approving …
Oklahoma Supreme Court To Rule on Legalizing Sports Betting Read More »
The curvy path to legalizing sports betting in California comes to an untoward end this week as SCA 6 was squashed in the face of tribal opposition. Now, voters cannot have their say on the matter until 2022. Senator Bill Dodd, who sponsored the bill, said the legislation could not move forward, and the bill …
California Sports Betting Bill Dead for Now, 2022 Set As New Target Read More »
Gov John Bel Edwards has officially signed the Louisiana sports betting referendum bill, Senate Bill 130, a move that could see legalized betting in the state by 2021. Although the bill does not legalize sports betting immediately, it empowers voters to share opinions on the topic when voting takes place in November. The referendum will …
Louisiana Governor Signs Sports Betting Referendum Bill Read More »
Originally posted in 2003, [Updated as to Dutch Supreme Court decision on February 21 and 22, 2005] Here are a few facts, statistics and observations culled from Internet Gambling Report, Sixth Edition (The River City Group, copyright 2003.) [1] Legality of Online Gambling Websites: “If no specific Internet gambling legislation is adopted, the off-line rules remain applicable to …
Under the Internal Revenue Code, [1] U.S. citizens must include on their tax returns and pay tax on all income, including all gambling income, earned worldwide from whatever source. Unlike the United Kingdom and many other countries, the United States taxes gambling income. U.S. taxpayers, with the exception of some professional gamblers, are not allowed to ‘net’ …
Around April 15th this page starts getting a lot of visitors. Since it’s that time again I decided to update this article to provide more concise answers to common questions about paying taxes on online gambling winnings in the US. I love to gamble. I play casino games, DFS, and poker. I’ve been playing competitive …
November 12, 2007 Update : The American Gaming Association is reported to have intervened with the IRS and negotiated a change in the terms of Rev. Proc 2007-57, so that alternatives will be available to casinos and cardrooms that will allow them to follow the original proposal in the revenue procedure or instead to merely issue …
