hoopsplayer21

3y

thread needs more activity.
Fordham spread
FSU spread

MCN

3y

go rams

Vox

3y

@JaeRell @Pinhead sports betting/apps are a go in my state sometime this week and I want to try it out with some of the associated opening week promos but I got some questions, would it be cool if I asked you/anyone else in this thread?

Vox

3y

@JaeRell @Pinhead sports betting/apps are a go in my state sometime this week and I want to try it out with some of the associated opening week promos but I got some questions, would it be cool if I asked you/anyone else in this thread?

Pinhead

3y

hit this yesterday

Pinhead

3y

Absolutely bro, ask away

Vox

3y

Thank you so much, my bad for taking a second, didn't get the notification that you hit me back

@JaeRell

So I'm in MA and want to take advantage of the draft kings/fan duel promos they got going for going live in a new state

Don't have any gambling experience but I do follow the NBA heavily so I want to see if I can do something with that knowledge

1. How does gambling work in regards to be registered as income and taxes?

2. When it comes to setting up accounts on fan duel and draft kings, do you just need to provide your location so the apps know you're actually in the state you say you're in or do you need proof of address/ID/etc?

3. What's the best/safest way to have your account/card linked to the apps?

4. Do you automatically get the promos when you sign up or is there anything specific you gotta do?

5. Any types of bets you'd recommend/resources for learning these apps and general gambling in general (super open to hear any suggestions from you guys or anyone else too)?

Thank you so much in advance, I'm new as s*** and want to do my best to not be taken for a fool so I really appreciate this

Vox

3y

Thank you so much, my bad for taking a second, didn't get the notification that you hit me back

@JaeRell

So I'm in MA and want to take advantage of the draft kings/fan duel promos they got going for going live in a new state

Don't have any gambling experience but I do follow the NBA heavily so I want to see if I can do something with that knowledge

1. How does gambling work in regards to be registered as income and taxes?

2. When it comes to setting up accounts on fan duel and draft kings, do you just need to provide your location so the apps know you're actually in the state you say you're in or do you need proof of address/ID/etc?

3. What's the best/safest way to have your account/card linked to the apps?

4. Do you automatically get the promos when you sign up or is there anything specific you gotta do?

5. Any types of bets you'd recommend/resources for learning these apps and general gambling in general (super open to hear any suggestions from you guys or anyone else too)?

Thank you so much in advance, I'm new as s*** and want to do my best to not be taken for a fool so I really appreciate this

Rockstard

3y

In the context of sports betting, taxpayers should be able to offset sports gambling losses incurred in-person at the Massachusetts casinos. The burden is on the taxpayer to prove any losses (see Rev proc 77-29, 1977-2 CB 538).
However, once betting is allowed online or via a sports app, Massachusetts taxpayers placing those wagers will have to report as income on their Massachusetts tax return all of the winnings without being able to offset any of the losses.

JaeRell

3y

1. Each state is different. You should look up how it works in your state, tbh. I know in Virginia (where I'm at)...you report your winnings as "other income" tax time. You should receive a tax form (if you won over a certain amount) each year on the app you use.

2. You'll need to let the app allow access to your location so it can confirm if you're actually in the state you say. And yes, you'll need to use your ID to register with the apps.

3. I only have a card and paypal linked. Depending on the app, you can add funds via bank account, card, paypal, venmo, etc. I use my card to add funds...and withdraw money to my paypal account...then transfer the money to my banking account.

4. I don't know if you signed up to anything yet or not, but use somebody's referral code/link so you can get free money/bonus bets.

5. The apps are pretty user friendly and easy to navigate..unless you're talking about gambling terminology you need to learn. I watch a few people on YT, use my own judgment, use sites like statmuse.com and others to make the best choices when betting.

orangetcovid

3y

@Uhhhhhh 🤫