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neverlearn2 said:How they gonna tax this? End of year or every bet?
RecreationalRoger said:http://www.nj.com/politics/index.ssf/2018/05/sports_betting_sports_gambling_us_supreme_court_new_jersey.html#incart_2box_nj-homepage-featuredNot sure about individual taxes, but there are plans to tax the betting providor on revenue.In NJ the only time the state issues W2G is if you win a one time payout of i **think** $599 (could be $1199). This applies to things like the lottery and slot machines. You dont get any forms if you win a $2000 bet at blackjack; im not sure about horse racing. There are also law in place about 10K wins. In general in NJ its up to the individual to honestly report gambling wins and losses.According to the article, nj plans to allow online sports betting the same way they allow online gambling now - ie you have to prove you are located in the state at the time of the wager.Does anyone play poker online in nj and if so does the state issue you a W2G at the end of the year?
nofriends333 said:the whole point is to bet live at a window and cash out . Online legal sports betting is almost same as offshore. You still have to deal with 3rd parties to cash out