> I've heard that if you win a bet worth more than $600 > (unsure of amount) in a legal gambling situation, the > house has to report it to the IRS. This includes horse > racing as well as casinos, etc. There are people whose > livelyhood is to cash in large racetrack bets as a > service, incurring the tax liability with the IRS, for > a portion of the payoff. > > Going to a "bookie" might let you sneack under the IRS's > nose, so to speak, but it could also be extra-legal gambling. > > BTW, that's why casino cruisers and riverboats have been > so popular. Once they go into international waters, > nobody has to claim income on any country's tax records. > > > -- Matt
Gambling with a bookie is not illegal. Making or setting odds and taking bets is. So it's unlike prostitution where both the john and the hooker are breaking the law. Kevin T. Friends in low places
