Best offshore sportsbooks for online betting?
in Betting Forum ·
Quick question here.
I'm trying to figure out the max payout limit on sites like BetMGM, DraftKings, or Bet365 before the taxman starts knocking. I know at local US spots like PSU or DraftKings, you don't pay taxes on winnings up to $10000, but once you hit that $30,000 mark, they take their cut. Does it work the same way with all these online books, or does everyone have their own rule for when the tax hits?
If anyone actually knows the deal, let me know!
Thanks in advance!
I'm trying to figure out the max payout limit on sites like BetMGM, DraftKings, or Bet365 before the taxman starts knocking. I know at local US spots like PSU or DraftKings, you don't pay taxes on winnings up to $10000, but once you hit that $30,000 mark, they take their cut. Does it work the same way with all these online books, or does everyone have their own rule for when the tax hits?
If anyone actually knows the deal, let me know!
Thanks in advance!