After Margo destroys Pac do I have to pay taxes on my winnings?

Discussion in 'World Boxing Forum' started by Round1gymDC, Oct 28, 2010.


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  1. Round1gymDC

    Round1gymDC Boxing Addict Full Member

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    Dec 12, 2009
    I stand to make a lot of money on this Pac fight after Margo kills him, but this will be my first time I'm betting legally in Vegas, the question I have is do I have to pay taxes on my winnings?

    I have lots of under the table bets, but this legally betting **** is new to me, please help


    By the way u should get in on it the betting odds are great!



    War Margarito!!!!!


    P.S If you live in NV,DC or MD and wanna bet let me know
     
    Round1gymDC, Oct 28, 2010
    Round1gymDC, Oct 28, 2010
    #1
  2. Tackleberry

    Tackleberry The Reverse Somersault! Full Member

    8,642
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    Dec 8, 2009
    Just out of curiosity, what is "a lot"?
     
    Tackleberry, Oct 28, 2010
    Tackleberry, Oct 28, 2010
    #2
  3. igotJUIC3

    igotJUIC3 Boxing Junkie banned

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    Jun 28, 2007
    if u dont pay up after Margo gets his ass handed to him....i gurantee there is tax you DONT wanna pay.:yep
     
    igotJUIC3, Oct 28, 2010
    igotJUIC3, Oct 28, 2010
    #3
  4. Devildoc

    Devildoc Capo Di Tutti Capi Full Member

    11,804
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    May 18, 2009
    Don't bet your house. You don't want to tell the bank you couldn't pay your monthly payment because you lost to a *******. :lol:
     
    Devildoc, Oct 28, 2010
    Devildoc, Oct 28, 2010
    #4
  5. Leon

    Leon The Artful Dodger Full Member

    40,234
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    Mar 14, 2010
    No, but you'll have to go work overtime to make up for the money you lost on marg.
     
    Leon, Oct 28, 2010
    Leon, Oct 28, 2010
    #5
  6. tarugojones

    tarugojones Boxing Junkie Full Member

    7,877
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    Jan 22, 2010
    Ten million dollars?
     
    tarugojones, Oct 28, 2010
    tarugojones, Oct 28, 2010
    #6
  7. kommieforniaglo

    kommieforniaglo Boxing Junkie Full Member

    8,396
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    Jun 10, 2010

    this +1
     
    kommieforniaglo, Oct 28, 2010
    kommieforniaglo, Oct 28, 2010
    #7
  8. bandido

    bandido The Black Bandit Full Member

    6,638
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    Feb 25, 2010
    Winnings from betting are tax free.
     
    bandido, Oct 28, 2010
    bandido, Oct 28, 2010
    #8
  9. MrMagic

    MrMagic Loyal Member Full Member

    39,534
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    Oct 28, 2004
    You're a supposed high roller, but you don't even know about the gambling tax laws in states like Nevada?
     
    MrMagic, Oct 28, 2010
    MrMagic, Oct 28, 2010
    #9
  10. saul_ir34

    saul_ir34 Obsessed with Boxing Full Member

    19,549
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    May 6, 2007
    You are very confident. But you might want to take that bet back.

    Teddy just picked Margo...
     
    saul_ir34, Oct 28, 2010
    saul_ir34, Oct 28, 2010
    #10
  11. spud1

    spud1 HAWK TIME!!!! Full Member

    10,667
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    May 8, 2010
    :lol:

    I wish, there is a tax free limit, anything after and you pay uncle sam.
     
    spud1, Oct 28, 2010
    spud1, Oct 28, 2010
    #11
  12. FlatNose

    FlatNose Boxing Addict Full Member

    6,800
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    Feb 16, 2006
    Lets not forget Margarito flopping around on the floor at Shane Mosleys feet.
    Not to say that he doesn't have a chance, but considering what both have done lately , Margarito has a tough hill to climb.
    Some may consider a big bet on Tony brave or ballsy or showing guts. Some may imply they know something no one else does by making such a bet.
    Others may be just full of baloney and talking ****, while not betting a Goddamn thing.
    Who knows?
    But this IS an interesting fight. It's the battle of the two guys who made Mayweather run away like a schoolgirl.
     
    FlatNose, Oct 28, 2010
    FlatNose, Oct 28, 2010
    #12
  13. PetethePrince

    PetethePrince Slick & Redheaded Full Member

    28,760
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    May 30, 2009
    No
     
    PetethePrince, Oct 28, 2010
    PetethePrince, Oct 28, 2010
    #13
  14. naldo marshal

    naldo marshal heavyweight champ Full Member

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    Oct 4, 2010
    you and margo are dreaming, rite???
     
    naldo marshal, Oct 28, 2010
    naldo marshal, Oct 28, 2010
    #14
  15. JuiceFX

    JuiceFX cant stop..wont stop... Full Member

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    Apr 3, 2008
    Damn, I was siding with Margo too...
     
    JuiceFX, Oct 28, 2010
    JuiceFX, Oct 28, 2010
    #15
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