New Poster with a Few Questions

[TheHawk]

Hello all, I just signed up for this forum today and I have a few questions for the veterans here.

I've been browsing forums like this one for the last couple days trying to gain information, but there are some things I haven't found a definitive answer on:

1) Is betting on sports through offshore books legal if you reside in the U.S.? I've read conflicting things on this issue, and was hoping people here could explain more.

2) Do people here pay taxes on their winnings, and if so, how do they do so if the gambling is illegal?

Thanks in advance.

 

[TheHawk]

One more question I forgot:

3)If you are very successful at a particular book, have you ever been kicked off the site?

 

[tatehill2000]

It is Legal,, or rather,,,,It has not been proven IT IS ILLEGAL<,,, that is the correct answer...
Most here lose money,,, 95% lose,,,, so that leave only 5% that can Declare winnings,,,,
of which,,,, you CCAN list your income as beign from Gameeing,,, and yes,,,you can do it legally,,,
there are Many books that will give you "BAD" lines once they have pegged you as a sharp,,,, I wouldnt worry about that Hawk,,ahha,,,, give it time,,,
I haave never been kicked out,,, many here have,,, you have to be Laying LG ammounts to get booted,,,, for Instance,,, if your a Steam chaser,,,, and you lay out 5-10 thous on a game,,and you win 3-4-5 ina row,,,, that can get you booted,,,,
good luck,,,
Tater

 

[TheHawk]

Thanks for your help.

 

[brewers7]

Good luck to you...