One important BOS issue I haven't seen mentioned - re: your ID.

Scooter1 · Jul 19, 2006

Will the US, if they win their case, or as a condition of a settlement, include a demand for info on BOS' USA customers?

Periodically someone will post in the forums that an offshore is asking for a copy of DL and/or SS# before paying out.

I've always been one of those to post that this is totally out of line.

But there are always many posters who chime in and let us know that they see no problem with this - "Just send them your ID, it won't be a problem" etc.

Well, now there may be a problem.

The US government has been illegally and secretly: wiretapping citizens ; gathering phone call info; can now enter a residence and secretly do a search; etc., etc.

How far fetched is it, if they really wish to crack down on offshore gambling, to get a list of US sportsbettors from the book itself?

Hope you guys all declared your gambling win/loss the last few years...

WildBill · Jul 19, 2006

Because betting on sports isn't breaking any federal law. Further how many of the 35 millions visitors to Las Vegas and many more to other US casinos report their win/losses? The IRS doesn't give two shits about if what you do is legal or not, they just want their cut.

Scooter1 · Jul 19, 2006

WildBill - "The IRS doesn't give two shits about if what you do is legal or not, they just want their cut."

This is true (at least in theory - in reality hard to believe the IRS doesn't [illegally] give/trade info with other agencies).

"... how many of the 35 millions visitors to Las Vegas and many more to other US casinos report their win/losses?"

This relates to my point.

I imagine that most of them don't. But that's because there's no paper trail, unless a Vegas sportsbettor bets over 10k in cash during a 24 hour period, or is paid more than 10k cash during a 24 hour period.

But offshore there obviously is a paper trail. Thus far, those records have remained offshore, but now, who knows?

WildBill · Jul 19, 2006

I am telling you the IRS isn't supposed to be trading info with other sources and if it is they run the risk of having the case and evidence thrown out. Tax courts, civil courts, and criminal courts are all supposed to operate independently by law and each has its own burden of proof and evidence. Further there are fifth amendment rights involved; the prosecutors in the courts need to provide evidence of a crime without you providing it yourself in almost all situations. Now sure you can suspect there is something going on, but it is highly unlikely anyone will ever get in trouble on their taxes for this, nor will declaring gambling winnings on taxes get you in trouble with criminal courts.

100KbyXMAS · Jul 19, 2006

If the IRS really wanted to, they could get hotel and airline and players club records of people flying to LV/AC/etc. A U.S. tax on gambling is BS.

I've had deposits, and I've had withdrawals, but I've never had a winning year. Yet if I were to follow the letter of the law, and claim on my Form 1040 all my winnings, and my LOSSES, my taxes would increase. How could that possible be far? Civil Disobedience.

A first time gambler who lost 10K on New Years Eve, win 9K on New Years Day, never gamble again, and by the letter of the law, owe the IRS money on th 9K.

ALFIEN · Jul 19, 2006

Data from Bet on Sports

Bet Oj Sports is a UK company and personal data is covered by the UK's Data Protection Act as personal information. It couldn't be handed over unless an authority with legal jurisdiction in the UK made a request in prosectunio of a crime carried out in the UK.