Withum

OCTOBER 27, 2021

Many people do not invest in the stock market because they think it is gambling and they do not “gamble.” Here are some scenarios to explore to determine if you are a gambler.

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Gambling 98

PYMNTS

JANUARY 22, 2021

In 2018 the Supreme Court struck down a 1984 federal law that prohibited gambling in most states. For example, Visa has recreated the MCC codes associated with online gambling to have a merchant verification process built in so that banks are no longer “blanket denying” anything that looks like a gambling transaction.

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Gambling Tennessee Sports Gaming 72

PYMNTS

MAY 14, 2020

New Jersey’s big bet on online gambling has paid off, with revenues skyrocketing to a record $80 million in April. Not surprisingly, sports gambling revenues were way down as stadiums remained closed and most professional games were canceled due to COVID-19 restrictions. Meanwhile, the state’s casinos remained shuttered.

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Gambling New Jersey Sports Gaming 80

PYMNTS

MAY 6, 2020

This is resulting in increased revenue for these online gambling platforms in states like New Jersey — trends in growth that may well continue after the crisis. government, as well as the gambling industry, is also dealing with infrastructure and regulatory hurdles that stall its ability to offer instant disbursements at scale, though.

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Gambling Sports New Jersey Tax 88

PYMNTS

SEPTEMBER 18, 2020

Paytm, India’s eCommerce payment platform, was removed from Google’s Play Store after the global technology company alleged Paytm violated Google’s gambling policies, India.com reported , but the app was later reinstated. “We Within hours of its removal, Paytm was reinstated to the Play Store, The Indian Express reported.

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Gambling Sports Technology Account 82

PYMNTS

JANUARY 14, 2020

In an effort to rein in problem gambling, the U.K. Gambling Commission is banning the use of credit cards for placing bets, the BBC reported on Tuesday (Jan. The ban is slated to take effect on April 14, following audits of the gambling industry by the commission and the government. ” Gambling revenue in the U.K.

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Gambling Gaming audit Education 52

PYMNTS

JANUARY 29, 2021

New policy changes on Google Play will enable gambling apps to be available in its store in more countries effective March 1, extending availability to the U.S. Just four Google Play stores worldwide make gambling and betting apps available — Brazil, Ireland, France and the United Kingdom. Earlier this month, New York Gov.

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Gambling Rhode Island West Virginia Nevada 67

CPA Practice

FEBRUARY 9, 2024

Gambling winnings tax If you are one of the millions to place a bet this year, you need to know that the IRS considers sports betting to be gambling. And income from gambling winnings is taxable. If you take the standard deduction, which most taxpayers do, you can’t deduct your gambling losses.

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Gambling Tax Sports South Carolina 122

PYMNTS

MAY 8, 2020

Online gambling or gaming is one possible outlet, and the sector may even make it through the pandemic with less financial damage than other industries. Online Gambling Changes . States have experienced decreases in revenue and minor dips in sports betting, but an overall jump in earnings from other online gambling sites.

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Gambling Sports New Jersey Pennsylvania 70

PYMNTS

JUNE 19, 2020

The Boston-based online sports gambling company announced Friday (June 19) it will sell 16 million shares of its stock. While questions linger over the 2020 sports season, that hasn’t stopped DraftKings from upping its previously announced initial public offering (IPO) to 40 million shares of stock. . billion. . as part of the deal. .

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Gambling Sports Massachusetts Entertainment 69

PYMNTS

SEPTEMBER 9, 2019

It’s also the start of another football gambling season — one that involves mobile commerce and digital payments, and companies trying to innovate their way to success in this growing field of transactions. Such desire for speed is also helping to drive innovation in other forms of gambling-related payments. Some 15 percent of the U.S.

Gambling 54

Gambling Legal Sports Tax 54

PYMNTS

MAY 7, 2020

This is bringing about heightened revenue for online gambling platforms in states such as New Jersey — trends in growth that may continue beyond the health crisis. The report also noted that online gambling or gaming sites are expecting major growth in the U.S., New Jersey issued closing orders for brick-and-mortar casinos March 16.

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Gambling Gaming New Jersey Nevada 84

PYMNTS

MAY 7, 2020

Many are instead flocking to online gambling sites after the closure of all 989 commercial and tribal casino properties in the U.S. gambling] payment mechanisms is that ACH payouts are not instant,” Marceau said. The ways gambling winnings can be paid out in the U.S. The challenge that we have today with U.S. Complying with U.S.

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Gambling New Jersey Pennsylvania Entertainment 56

ThomsonReuters

APRIL 2, 2024

The probe centers around Ohtani’s former interpreter, Ippei Mizuhara, who has been accused of illegal sports gambling and significant financial theft. It was revealed that Mizuhara had accumulated substantial gambling debts, which were allegedly covered by wire transfers totaling at least $4.5

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Gambling Sports Legal Tax 105

PYMNTS

AUGUST 10, 2020

IAC , the New York-based global media and internet giant, is betting that an investment of $1 billion in MGM Resorts International will pay off in online gambling, according to a press release. Diller and Levin said research revealed MGM’s revenue in online gambling revenue is essentially zero.

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Gambling Gaming New York 58

PYMNTS

JANUARY 8, 2019

In a new PYMNTS interview, Tom Cregan, CEO and managing director at EML , discusses the place of instant payments in the changing gambling ecosystem. But that’s not the case for online gambling, said Cregan, who noted, “It can sometimes take two or three days” for those winnings to get into gamblers’ accounts. Supreme Court.

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Gambling Sports Legal accounting and finance 75

PYMNTS

JULY 6, 2020

Amid a pandemic that has shuttered brick-and-mortar casinos, the burgeoning online gambling or gaming space may make it through COVID-19 with less adverse financial effects than other verticals. States have seen drops in revenue and small decreases in sports betting with an overall increase in earnings from other digital gambling sites.

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Gambling Sports Gaming Government 57

PYMNTS

OCTOBER 2, 2019

It’s not exactly high time for legal online gambling yet – that comes in early 2020, with the Super Bowl and then the NCAA college basketball tournament – but the betting season is certainly heating up on more ways than one. And that new fuel comes as the legal online and mobile gambling industry in the U.S. More Consolidation Coming.

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Gambling Sports Legal New Jersey 53

CPA Practice

APRIL 12, 2024

(TNS) Baseball superstar Shohei Ohtani’s former interpreter has been charged with stealing more than $16 million from Ohtani’s bank account to pay the translator’s illegal gambling debts, federal authorities announced Thursday, April 11. Estrada said winnings from Mizuhara’s gambling ventures went straight to his account, not Ohtani’s.

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Gambling Arizona Gaming Sports 69

PYMNTS

OCTOBER 26, 2020

In China, mass arrests are being made and online gambling rings shut down by a local branch of the Peoples' Bank of China (PBOC), according to a report by CoinDesk. The gambling activities involved the tether stablecoin. Seventy-seven arrests have been made thus far, and three gambling sites were shut down, CoinDesk writes.

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Gambling Technology 67

Accounting Today

JANUARY 29, 2024

Financial advisors and tax professionals with clients who bet online or at casinos must guide them through the choice of classifying as amateur or professional.

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Gambling Tax 90

PYMNTS

JULY 27, 2020

Chalk up another major deal for blank check companies, one of Wall Street’s hottest new trends, with online gambling and sports betting company Rush Street Interactive ’s announcement that it will be going public.

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Gambling Indiana Colorado Sports 56

PYMNTS

JUNE 5, 2019

Cards (as in prepaid, stored-value cards that consumers can use for gambling, payroll and a variety of other uses, many of them novel) are only half the battle. Placing A Bet On Online Gambling. The rise of online and mobile (legal) gambling is providing benefits to reloadable and store-value cards, and driving innovation.

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Gambling payroll accounting and finance Finance 63

PYMNTS

MARCH 27, 2019

All the action on the legalized gambling front is putting authentication and verification services under a bigger spotlight – and making them major players in this growing area of digital payments and commerce. Of course, that’s not the only type of pressure that comes to bear on friction for customers of online gambling services.

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Gambling E-commerce Sports Legal 46

PYMNTS

OCTOBER 5, 2018

Supreme Court for the spread of sports gambling if a particular state wants it. Payment processing has been among the chief dampeners of performance in New Jersey’s regulated online gambling market,” observed Legal Sports Report. Observers of the sports gambling industry aren’t exactly pleased with payments progress so far, however.

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New Jersey Gambling Sports Legal 59

PYMNTS

SEPTEMBER 27, 2020

In other news, illegal gambling gangs in China are using cryptocurrency to funnel over 1 trillion yuan ($146.6 Despite the prohibition, Russian Binance users can still access the site without additional tools like a VPN, although the site can be seen on Roskomnadzor's list of banned websites as of June.

Gambling 84

Gambling Legal Gaming 84

PYMNTS

SEPTEMBER 10, 2018

Bet on it: More gambling is coming to consumers’ mobile devices, including via companies that provide fantasy sports betting, thanks to a U.S. The launch of the app comes amid a shifting gambling culture in the United States, the result of a May decision from the U.S. Supreme Court decision from earlier this year. That includes MGM.

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Gambling Sports New Jersey Gaming 40

PYMNTS

AUGUST 1, 2018

Supreme Court struck down state bans on sports betting, MGM Resorts International has signed deals with the NBA and other operations that could mark the first chapter of the country’s new sports and gambling culture. MGM announced a deal to become the first sports gambling partner of the NBA. technology hub.”. technology hub.”.

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Gambling Sports Gaming Legal 40

RogerRossmeisl

OCTOBER 1, 2021

Studies have found that more people are engaging in online gambling and sports betting since the pandemic began. And there are still more traditional ways to gamble and play the lottery. If you’re lucky enough to win, be aware that tax consequences go along with your good fortune.

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Gambling Tax Sports tax return 130

PYMNTS

JULY 25, 2018

A recent decision by the Supreme Court of the United States ended a ban on legalized sports gambling, and has the potential to change how sports fans from coast to coast experience games. The court’s decision allows individual states to open online gambling to residents. Once a customer registers an account and makes a deposit, 888.com

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Gambling Sports Gaming Legal 40

PYMNTS

OCTOBER 2, 2020

Gambling is another business that’s seeing customers unexpectedly taking to online alternatives. But now, consumers are finding they don’t mind doing the entire process digitally — from making out a financing application to securing insurance and car registration.

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Gambling Finance Sales Retail 60

PYMNTS

JULY 13, 2018

With a crackdown on gambling amid the FIFA World Cup, authorities in China have seized over $1.5 Police started an investigation into the unnamed gambling site after ads said that the platform would “accept international recognized cryptocurrencies, including bitcoin, Ether and Litecoin,” CoinDesk reported. million in crypto.

Gambling 40

Gambling Government Sports 40

CPA Practice

MARCH 8, 2024

Don’t think that the suspension of the miscellaneous expense deduction applies to gambling losses. Under current law, you can still write off your documented gambling losses up to the amount of your winnings. But gambling losses are deductible only if you itemize.

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Gambling Tax 52

PYMNTS

JULY 5, 2018

Supreme Court ruled earlier this year that states can allow sports betting, the world of gambling now promises to gain more of a digital edge. The idea remains as simple as ever: Put down money on a team or athlete because of fandom, a hunch or a considered view, and then hope to turn a profit. But since the U.S. Market Size.

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Gambling Sports Technology Non-Profits 41

Going Concern

SEPTEMBER 25, 2023

TPB slaps 5-year ban on accountant involved in $26m fraud [ Accountants Daily ] The Tax Practitioners Board has slapped a five-year ban on a Sydney accountant charged with stealing $26 million through his firm to fund a lavish lifestyle and gambling addiction.

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tax preparation Gambling Account accountant 99

RogerRossmeisl

FEBRUARY 3, 2021

Sometimes coercion by a third party or the need to pay gambling or addiction-related debts comes into play. Best practices Why would trusted employees steal from the hand that feeds them? They could be working for a competitor or seeking revenge for perceived wrongs. Although there are no guarantees that you’ll be.

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Gambling CPA 191

PYMNTS

FEBRUARY 2, 2021

But perhaps his best quote comes from his other pastime, gambling: “I want people to understand, gambling is not a bad thing if you do it within the framework of what it’s meant to be, which is fun and entertaining.”. To an extent, that same spirit and intention is behind the recent spate of government approvals for online gambling.

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Tennessee Gambling Sports Entertainment 105