HORSEPLOP.COM
General Category => Sports Wagering - Tips & Picks => Topic started by: Emperor Dapple on January 19, 2022, 09:21:51 AM
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Question..The Caesars app offering up to $3000 match and $300 sign up bonus here in NY.. My son did the full $3K deposit and then had $6300 to use..Long story short he made one bet for the full $6300 and won on a -110 odds .. His account now has around $12K… My question is for those of you with experience, do you know if there are tax consequences being that half of the bet he made was used with promotional money or are taxes only held on 300-1 odds?
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Question..The Caesars app offering up to $3000 match and $300 sign up bonus here in NY.. My son did the full $3K deposit and then had $6300 to use..Long story short he made one bet for the full $6300 and won on a -110 odds .. His account now has around $12K… My question is for those of you with experience, do you know if there are tax consequences being that half of the bet he made was used with promotional money or are taxes only held on 300-1 odds?
That $6,600 that is the bonus/match+winnings? There's fine print on that. Lots of it. Get with their CS with questions.