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Cashing out on Monday..

Topic closed. 47 replies. Last post 12 years ago by tntea.

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United States
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May 1, 2005
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Posted: May 1, 2005, 5:19 pm - IP Logged

The real question is off shore gambling legal? I have never been sure. I play alot of online Poker etc, but have always wondered if I am legal. I know millions are doing it. I don't think any of us are winning enough to get the IRS' attention. They have bigger fish to Fry. Just keep your deposits under the Notification amount which I think is $5000 and you are good. The disclosure figure was $10,000 though, the last I knew. The only thing I am worried about, is it legal to gamble on line at these places out of the country?

    LOTTOMIKE's avatar - rsz 1franklinmillion-front.jpg
    Tennessee
    United States
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    October 15, 2004
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    Posted: May 1, 2005, 5:20 pm - IP Logged

    the main reason i haven't been to that place is i know i'll win big and it scares me.all i play i straight hits so thats 9,000 right there.just way too much.....


      United States
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      Posted: May 1, 2005, 6:06 pm - IP Logged

      Well I think I can answer my own question. I think it is clearly illegal for a US citizen to gamble online. I don't think taxes need to be the concern. It is truly a matter of getting your money back into the country without being noticed. If you are noticed, and you acount for that income from gambling, you aren't gonna pay taxes on anything, because you are going to lose anything you brought in, and possibly spend some time in the klink.

      The "other place" is probably a bad idea. Even if you are lucky enough to win, there is probably a pretty good chance you are going to run into trouble receiving your winnings. Not worth it in my book. I like my freedom!

        fbird's avatar - nw archer.jpg
        White Lake,Mi
        United States
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        May 12, 2003
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        Posted: May 1, 2005, 7:05 pm - IP Logged

        That is why I hesitate to use the " other place ". When I win, I like receiving the cash in my sweaty palms if you know what I mean.The payoffs in our states should definintely be higher to negate this off shore betting....I mean a 50-60 % take is illegal in Vegas. But as a lot of you have said there are other issues and I guess some are legal as well as IF you did get caught ..the tax issue that would have to be resolved and that in and of itself would be worth it. I have not heard of anyone, though, having trouble getting their money from that place. So it does seem on the up and up.

        VAL

        Don't walk behind me; I may not lead. Don't walk in front of me: I may not follow.

        Just walk beside me and be my friend.

                  Albert Camus

          Sandy K's avatar - graphic pub.jpg
          Clarkston, Michigan
          United States
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          January 6, 2002
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          Posted: May 1, 2005, 7:12 pm - IP Logged

          val.............I like the value of money......I can place 2 bets in place of 1....makes sense to me.........and no I have not had a problem.

          You only need to be careful and copy your tickets....I just copy and paste them into excel...........or you can print them......that is the only flaw that I can see.

          Sandy


            United States
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            Posted: May 1, 2005, 7:25 pm - IP Logged

            If I am winning money, I am willing to pay whatever taxes that I have to. You cannot ignore the odds and payouts. I just don't want to wear stripes. I guess whether it is worth the risk of getting busted is a personal decision. I don't see anybody playing party poker getting busted. People are playing the online slots like crazy. I think it is also important to note that Netteller is not a US owned company.

             

            So Sandy or anybody else, you have had no trouble getting paid from the other joint? I love the idea of the Netteller ATM card. Is this just your standard Mastercard type ATM card. That would be the way to go because as long as your winnings are in the Netteller acct, then they are not in the states. Just spend your loot on your debit card. Problem solved. Where do you apply for the card? I wasn't aware that they had one.

              tntea's avatar - Lottery-059.jpg

              United States
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              June 30, 2004
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              Posted: May 1, 2005, 8:10 pm - IP Logged

              Who said Neteller was not an in US bank?

                   OLD/Vtrac   Lottery Bible         Double Warnings      Thumbs Up TN F34/F44

                onenumber's avatar - swordgirl
                Chicago, IL
                United States
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                November 2, 2004
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                Posted: May 1, 2005, 8:54 pm - IP Logged

                Tntea,

                Neteller is headquarterd in the United Kingdom and is not a US Bank. 

                  emilyg's avatar - cat anm.gif

                  United States
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                  Posted: May 1, 2005, 9:02 pm - IP Logged

                  thought it was in canada.

                  love to nibble those micey feet.

                   

                                               

                    onenumber's avatar - swordgirl
                    Chicago, IL
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                    Posted: May 1, 2005, 9:11 pm - IP Logged

                    I went to their website and here is what it says.


                    • Corporate headquarters
                      - Douglas, Isle of Man


                    • Regional offices in:
                      - Calgary, Canada
                      - London, England
                      - Hong Kong, China
                      - San Jose, Costa Rica
                      emilyg's avatar - cat anm.gif

                      United States
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                      November 9, 2001
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                      Posted: May 1, 2005, 9:26 pm - IP Logged

                      thanks -

                      love to nibble those micey feet.

                       

                                                   

                        Sandy K's avatar - graphic pub.jpg
                        Clarkston, Michigan
                        United States
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                        Posted: May 1, 2005, 9:29 pm - IP Logged

                        Chopperhead, I get paid thru Neteller not the quarter site.

                        Sandy


                          United States
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                          Posted: May 2, 2005, 2:11 am - IP Logged

                          I understand that your money comes to you via Neteller, but the "Quarter site" has to release it to them right? I don't know why Sandy, but I am getting the impression you are doing pretty good on that site. I set up an account with Neteller today. Very friendly and easy to work with. 8.5% fee on deposit was a shocker though. They get ya coming and going there. What a racket huh?

                            Sandy K's avatar - graphic pub.jpg
                            Clarkston, Michigan
                            United States
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                            Posted: May 2, 2005, 7:43 am - IP Logged

                            well they have to make a profit, chopperhead.........that is the nature of business.

                            Sandy

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                              ga.
                              United States
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                              October 14, 2004
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                              Posted: May 2, 2005, 8:26 am - IP Logged

                              Copperhead......You have a point with the fees from Neteller,but generally they do not bother me as I never take out under 500.00 so paying 15.00 does'nt bother me. Now I have learned since starting with them not to pull out all my money. In the beginning,when I won I pulled everything out,dumb...you pay 15.00 to pull it out if its not on a monday,then when I wanted to play again I had to pay to deposit again...Now I leave several hundred in either my gambling site or the reg. neteller account. What I want to take out is transfered from my neteller account to my neteller ATM card,I then go down to any bank carrying that card..(most of them) and use the card like any other ATM card....like I said before the only problem is you can only pull out 1000.00 every 24 hours...but unless you are hitting really good on a regular basis this should be no problem...also should you have money on your ATM card and you want to transfer it back to your   neteller account there is no charge...there is a 2 charge (or 3 can't remember) for each withdrawal from the ATM card....my only complaint here is that when you transfer your money from your gambling site...why can't it go directly in your Neteller ATM account...right now it goes into your Neteller account and you have to go to the site to transfer it to the ATM account...its fairly simple now,but in the beginning it irritated me...Hope you have great success......and for your other inquiry,I too wonder what will happen if it is against the law and we get caught...I have never been arrested and the chance of that scares me,but obviously not enough to stop,LOL. But like you or someone else said,there are millions of people gambling online everyday,I cannot see that changing.....

                              GracieGirl