I'm thinking about trying my hand in online sports gambling after years of doing well in those pick-em type contests. I have a few questions though, mostly surrounding the legality of online sports gambling. From what it on the net, sports gambling is illegal in the US (I live in NY), but most of these online sites are placed offshore (so I guess this is a way around the legality). Does this make online sports gambling okay?
My other question is about taxes. From what it seems, any earnings must be filed and claimed with the IRS.How strictly is this enforced?
Thanks in advance.
My other question is about taxes. From what it seems, any earnings must be filed and claimed with the IRS.How strictly is this enforced?
Thanks in advance.