Can you threaten your sportsbook....???

[ELJUGO]

Cashed 10k from linesmaker . com, they sent 7 on time and I have now still not recieved the rest from a Jan. 15th payout. All deposits were cleared and multiple contacts result in "keep waiting" in a variety of messages. Just wondering if their is an agency that controls these overseas operations that I can bring up to help them get it in gear. Appreciate any help guys, Thanks

[Hitman]

Last year during March Madness I won a bunch of money over a 3 week span on Betcom.com and when I went to request a withdrawal I had a sportsbook manager call me and start asking me crazy questions like if I was a "sharp" or if I had inside information. After talking to him for awhile I eventually got them to process my payout of around 8k but it took forever. I was nervous as hell. My advice would be to call them and tell them you are going to go onto every gambling forum on the web and let people know that they don't payout. Good luck whatever you decide to do.

---Matt

[ChuckLazar]

One thing you should know Buddy....When you ask for 10K or more, a red flag goes up and you will probably be getting contacted from the IRS....My friend who works for them told me to take out no more than 9,900 and you won't have a problem...Anything over is reporter to the US....I hope that's not what's holding things up for you..If it is you better start looking for a good lawyer and some lottery losing tickets pretty quickly to even out your loses..

[ELJUGO]

That's great news chucky Only thing I am confident about is that I hit em for 20 last year and never heard a word so I'm going to assume things are ok.

[Hitman]

One thing you should know Buddy....When you ask for 10K or more, a red flag goes up and you will probably be getting contacted from the IRS....My friend who works for them told me to take out no more than 9,900 and you won't have a problem...Anything over is reporter to the US....I hope that's not what's holding things up for you..If it is you better start looking for a good lawyer and some lottery losing tickets pretty quickly to even out your loses..

Chuck-what if you win consistently for a year and cash out small amounts each month or so. Do you think you still have to worry about declaring your winnings come tax time if they are over 10k? Or is it only if you cash out more than 10k all at once?

[ChuckLazar]

Chuck-what if you win consistently for a year and cash out small amounts each month or so. Do you think you still have to worry about declaring your winnings come tax time if they are over 10k? Or is it only if you cash out more than 10k all at once?

I don't think so.....The only person that can answer this question is EZ Winners, John got grabbed last year by IRS and he had to go service to try to pay the $$ back...Try getting his phone # off Wayne and talk to him.

[Hitman]

Thanks Chuck!

[ChuckLazar]

That's great news chucky Only thing I am confident about is that I hit em for 20 last year and never heard a word so I'm going to assume things are ok.

They waited a few years with EZ before taking him down.....Have you ever come across when logging on to your sportsbook, a little box that pops up and says anything about clicking on for any odd reason. If you have it's the US gov't spying on your computer...

[ICBomber]

ELJUGO,
The cheeseman is right, the magic # is 10K. It is now a law since 9-11-01 that any banking transaction, re through your bank, credit card, purchase of property, etc of 10K or more is reported to the federal gov't. You are much better taking your $ in increments, 5K or so at a time. Much less of a red flag. The reason for this has to do with terrorism, however, it is also an easy way for the IRS to track you. So be careful of large deposits into your bank and on and off your credit card.

all the best
Bomber

[Three Jack]

ICBomber, congrats on post 100!

[Three Jack]

Funny...I have never had an issue taking money out of my book...as I am always putting money in!

[ICBomber]

Three jack,

Similar issue here, wish that was a problem I had to deal with. If I could just figure out how to get a tax credit for my losses, then I would really be in business

[BettorsChat]

Cashed 10k from linesmaker . com, they sent 7 on time and I have now still not recieved the rest from a Jan. 15th payout. All deposits were cleared and multiple contacts result in "keep waiting" in a variety of messages. Just wondering if their is an agency that controls these overseas operations that I can bring up to help them get it in gear. Appreciate any help guys, Thanks

That book has the money as they are under sportingbet which is a publically traded company on the London Stock Exchange. I'm not sure why they would be giving you a hard time.

[bilbal]

There is a doctor in my wife's practice and his wife is a lawyer for the IRS and I was told several things that caused me to immediately stop posting my plays on boards and severely cut back on how I go about things.

I would never post on the Internet how much money I've won/lost gambling.

Chuck's right, they wait until it's "worth it" to go after someone. They're not going to spend 10k in manpower to recover 5k in taxes. My guess is the IRS is probably watching people in this forum much like they were John.

There are no "magic numbers", but it's "where" it's sent to that puts up the flag. (ie you send $7,500 from your bank to Citibank, flag less likely; you send $3,000 from Neteller to your bank, a red flag much more likely.)

The last piece of advice I got was, "getting audited? just don't lie"...apparently the IRS is very nice about things if you come clean with them and if they catch you lying...they will sink their teeth in.

I hope this helps!