Hey I am new to online sports betting and before making an online account I wanted to find out about a few things. I live in New Jersey, and I heard that it’s illegal to bet here with an offshore online sports book, but I’ve also heard that although illegal, similar to downloading music, there is not much of a chance that much is going to happen to you if you do it. I’m 19 years old, and for years my friends and I just bet each other ATS, and I usually have some pretty good success with it, winning about 60-70% of the time it seems. My friends tell me I should check one of those online books out and see if I can make some money doing it. So now I am at this point. If I’m able to make an account I’m not looking to bet a lot, probably just throw in about $75-$100 to start and see where it goes.
But before I even do this I have a few questions and concerns:
1- Is there any way of going about this without getting into trouble with the state or government or anything?
2- If there is a way around this and I do actually win, when I withdraw the money I won wouldn’t it be illegal not to post it on my income tax, yet still illegal even if I do because I am therefore telling the IRS that I am illegally gambling online? It just seems to me like you are either committing tax fraud or submitting a written confession to the government that you are partaking in illegal activities.
3- I recently read a Fox News article from 2 years ago stating how it is very difficult for the government to regulate what is being spent on offshore online accounts. It also said that Britain was expected to make internet gambling legal, and even open up offshore accounts themselves. What are some of the good books to use, and what is a good way to deposit and withdraw without leaving much of a paper trail?
Please help me, and offer any additional information.
Thank you
But before I even do this I have a few questions and concerns:
1- Is there any way of going about this without getting into trouble with the state or government or anything?
2- If there is a way around this and I do actually win, when I withdraw the money I won wouldn’t it be illegal not to post it on my income tax, yet still illegal even if I do because I am therefore telling the IRS that I am illegally gambling online? It just seems to me like you are either committing tax fraud or submitting a written confession to the government that you are partaking in illegal activities.
3- I recently read a Fox News article from 2 years ago stating how it is very difficult for the government to regulate what is being spent on offshore online accounts. It also said that Britain was expected to make internet gambling legal, and even open up offshore accounts themselves. What are some of the good books to use, and what is a good way to deposit and withdraw without leaving much of a paper trail?
Please help me, and offer any additional information.
Thank you
