Category Archives: Gambling

Can a Resident of a Non-Tax Treaty Country (With Respect to Gambling) Get His Withheld Funds Back?

Posted on February 9, 2016 by Russ

Today, I received an inquiry from a citizen of New Zealand (he is not a US citizen or permanent resident). He had done well in a poker tournament here in the United States–well enough to have had 30% of his … Continue reading →

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A Tale of Three States

Posted on February 3, 2016 by Russ

Hawaii, Indiana, and Mississippi are three states where daily fantasy sports (DFS) is being debated. The three states are representative of what is likely to occur in every state. Last week, Hawaii Attorney General Doug Chin issued an advisory opinion … Continue reading →

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Fail, Caesar! An Update

Posted on January 21, 2016 by Russ

It’s been just over a year since Caesars Entertainment Operating Company (CEOC) declared bankruptcy. If Caesars Management was hoping that the court-appointed examiner would be giving them good news, and that the company would be coming out of bankruptcy unscathed, … Continue reading →

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Texas Attorney General: DFS Illegal in Texas

Posted on January 19, 2016 by Russ

Texas’s Attorney General, Ken Paxton, issued an opinion today that says that daily fantasy sports (DFS) is illegal under Texas law. The crux of Mr. Paxton’s argument is, Under section 47.02 of the Penal Code, a person commits an offense … Continue reading →

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Are Tips (Gratuities) at the Poker Table Deductible?

Posted on December 21, 2015 by Russ

You win a poker tournament, and the floorperson asks you, “Do you want to leave anything for the dealers?” That’s a tip (or gratuity). I was recently asked, “Is that tax deductible? And what about when you’re playing a cash … Continue reading →

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NY Judge Rules Against DFS Sites

Posted on December 11, 2015 by Russ

New York Judge Manuel Mendez granted the New York State Attorney General a preliminary injunction that bans DraftKings and FanDuel from operating in New York. Both sites will appeal, but for now daily fantasy sports (DFS) is gone from the … Continue reading →

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Update on the Future of Daily Fantasy Sports

Posted on November 19, 2015 by Russ

So far, I’ve been accurate on my predictions. Back in February 2014 I wrote, Unfortunately, many states look at just an element of chance to determine if something is gambling. And there’s no doubt that daily fantasy sports have such … Continue reading →

Posted in Gambling, Massachusetts, New York | Tagged | 2 Comments

The Real Winners of the World Series of Poker (2015 Edition)

Posted on November 10, 2015 by Russ

Nine individuals came to Las Vegas over the last three days to compete for the championship at the World Series of Poker (WSOP). Who would be the lucky winner? And who really got to keep the money? Last year the … Continue reading →

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DFS Gets the Boot in New York

Posted on November 10, 2015 by Russ

New York State’s Attorney General, Eric Schneiderman, sent a letter to DraftKings and Fan Duel ordering them to cease offering their Daily Fantasy Sports (DFS) wagers games to New Yorkers. According to both ABC and ESPN, Attorney General Schneiderman sent … Continue reading →

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Time Running Out on the Miccosukee Tribe’s Battle with the IRS

Posted on November 4, 2015 by Russ

I have sympathy when taxpayers battle the IRS over legitimate issues. Indeed, I’m all for fighting the IRS when they’re (imho) wrong. However, fighting quixotic battles when you are wrong isn’t a good idea. The Miccosukee Tribe in Florida is … Continue reading →

Posted in Gambling, IRS, Tax Court | Tagged | 1 Comment