Withdrawal Questions from Baseball Betting

[KBiggz]

How much money could I wire from the sportsbook to my personal bank account without raising red flags? I have an account at bank of america and don't want to be triggered for anything.

 

[jacksmannequin]

How much money could I wire from the sportsbook to my personal bank account without raising red flags? I have an account at bank of america and don't want to be triggered for anything.

An individual or business is required to report "Cash payments received in a single banking transaction (or two or more related transactions) exceediing $10,000" on form 8300. Also, financial institutions are required to report deposits of $10,000 or more on form 4789.

Any discrepancy between a form 8300 and a form 4789 might suggest a possible violation of currency reporting laws.

End of the day... just report your income to the gov't and pay your taxes.

 

[KBiggz]

was looking to withdraw in the 6k range....pretty much anything from that same sports amounting to 10k total will have to be reported

 

[KBiggz]

Another thing what about gambling deposits....I know you cant show a lose but could show its not all taxable by discounting your loses...Also online gambling is illegal soooooo either way if tracked could be screwed, am I right?

 

[nikeairx]

6k you should be fine, i would keep it under 9k

 

[Redskins#1]

"End of the day... just report your income to the gov't and pay your taxes."
Exactly. As long as you report your income, the Gov't could care less how you make. They have bigger fish to fry. i.e. terrorists.

 

[KBiggz]

now will the question from the bank come about? Where did these funds come from, when having to fill out the form for tax purposes?

 

[RipThe_book]

Why not use western union??

 

[MemphisMonroe]

My sportsbook refusing to pay me its been about a month now ive been waiting on 1k. Think its time to find a new book this is ridiculous with their bs run around they giving me for such a small amount.

 

[parlayallday]

KB
What book/

 

[KBiggz]

I actually book at sportsbook.com....they have the newest option of bank wire...1 free per month...and it actually is really quick 3-4 days, where as checks take a million years it seems and I believe the only other option is some online wallet thing which I don't use. I want the 6k to get me out of the little bit of debt I've gotten myself into the past year or so.....Just don't the feds on my ass for anything

Wow KB what book are you at by chance?

 

[Hamilbet]

An individual or business is required to report "Cash payments received in a single banking transaction (or two or more related transactions) exceediing $10,000" on form 8300. Also, financial institutions are required to report deposits of $10,000 or more on form 4789.

Any discrepancy between a form 8300 and a form 4789 might suggest a possible violation of currency reporting laws.

End of the day... just report your income to the gov't and pay your taxes.

I think it's 9k now.

 

[Hamilbet]

"End of the day... just report your income to the gov't and pay your taxes."
Exactly. As long as you report your income, the Gov't could care less how you make. They have bigger fish to fry. i.e. terrorists.

That's how they got Al Capone hno:

 

[MemphisMonroe]

KB
What book/

oddsmaker.com

bout to setup a new account with 5dimes. Anybody know if they have good odds and fast withdrawal process?