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. By Tony Saavedra, San Gabriel Valley Tribune, West Covina, Calif.

Gambling 69

Gambling Arizona Gaming Sports 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

NOVEMBER 22, 2019

And, increasingly, online gaming platforms — attractive to the bad guys due to their scale and relative anonymity — are in the crosshairs. In one recent event that grabbed headlines, video game developer Valve Corp. Just relying on a username and password is no longer enough, Cavicchia said.

Gaming 70

Gaming Gambling Sales Account 70

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. Most of these gamblers are looking for quick games and wins that can provide them with more funds to spend. gambling] payment mechanisms is that ACH payouts are not instant,” Marceau said.

Gambling 56

Gambling New Jersey Pennsylvania Entertainment 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. Mobile has changed the payroll game — and, with it, consumer expectations for how it should work. Placing A Bet On Online Gambling. Mobile’s Role.

Gambling 63

Gambling payroll accounting and finance Finance 63

PYMNTS

AUGUST 10, 2020

Identity fraud is nothing to play around with, but you wouldn’t know that given its prevalence in the online gaming sector. Three out of four American consumers are now interacting with gaming platforms, spending up to 14 hours a week on them — up from 12 hours in 2018. Gaming the System. Security Is All Fun and Games.

Gaming 56

Gaming Gambling Start-ups Technology 56

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. Authenticating New Accounts. com must clear.

Gambling 40

Gambling Sports Gaming Legal 40

CPA Practice

MAY 28, 2024

The IRS wants its share of the jackpot a player wins and, to assure that, requires casinos to issue a W2G, a special tax form that also informs the IRS of gambling wins that must be included when calculating annual income at tax time. Issuing W2Gs But rules are rules. Werfel heard testimony about changing the threshold Nov.

Nevada 89

Nevada Gambling Gaming Transportation 89

CPA Practice

MARCH 6, 2024

Link, who resigned from the Senate shortly before pleading guilty, was the star witness against Weiss, the son-in-law of Cook County Democratic heavyweight Joe Berrios, telling the jury about Weiss’ and Arroyo’s efforts to pay him off to support legislation favorable to Weiss’ sweepstakes gaming business.

Illinois 105

Illinois Tax Gambling Gaming 105

PYMNTS

SEPTEMBER 16, 2020

Chinese authorities have made a series of arrests alleging more than $2 billion was laundered at offshore gambling sites through faux eCommerce purchases. Under the scam, alleged cybercriminals make the online purchases while the same sum is then credited to their gambling account.

Gambling 124

Gambling Gaming Government Account 124

PYMNTS

SEPTEMBER 23, 2020

But George Connors , senior vice president of gaming and sports solutions at Fiserv , told PYMNTS in a recent conversation that other things have remained the same — like online gaming. market as regulatory restrictions were lifted from online gambling in recent years. And if major U.S. Giving Consumers What They Want.

Gambling 88

Gambling Sports Gaming Entertainment 88

PYMNTS

NOVEMBER 18, 2019

Against that backdrop, considering the speed at which states are accepting online sports betting (and the strength of the dollars flowing into the space), legalized gambling via mobile seems a sure wager. Several other states have online gambling legislation in the works. The Current State.

Sports 43

Sports Gambling Gaming Government 43

CPA Practice

MAY 29, 2024

The IRS wants its share of the jackpot a player wins and, to assure that, requires casinos to issue a W2G, a special tax form that also informs the IRS of gambling wins that must be included when calculating annual income at tax time. Issuing W2Gs But rules are rules. Werfel heard testimony about changing the threshold Nov.

Nevada 52

Nevada Gambling Gaming Transportation 52

PYMNTS

MAY 28, 2018

Amazon is rethinking returns, routers have been overrun by Russians and credit card issuers may not yet be betting on sports gambling, regardless of what the Supreme Court says. At some point, his account was reinstated. Issuers Take a Hard Pass on Sports Gambling. Amazon’s Returns Reset. And now we all have to suffer for it.

Gambling 40

Gambling Sports Gaming Manufacturing 40

PYMNTS

NOVEMBER 1, 2017

The evolution of “fantasy teams ” has created another level of enjoyment for sports fans by allowing participants to build digital teams of real-life professional athletes – and to compete with those teams based on those players’ statistical performances in professional games. We are the game within the game,” Haas said.

Sports 40

Sports Gaming Gambling Entertainment 40

PYMNTS

APRIL 22, 2019

That means thwarting money laundering efforts, would-be underaged users and anyone attempting to use someone else’s account information. De ep Dive: How Online Gaming Platforms Can Fight Fraudsters, Customer Defection. Find the full account in the Tracker. Read the full story in the Tracker. About the Tracker.

Sports 57

Sports Gambling Gaming Technology 57

PYMNTS

FEBRUARY 5, 2019

Save for fans of punting, the Super Bowl offered relatively little in terms of game excitement, and will go down as a matchup that produced a low score and low TV ratings. million worth of wages with legal New Jersey sportsbook operators, but that gambling operators lost $4.6 Total Super Bowl gambling topped $4.76

Sports 49

Sports Gambling Nevada Legal 49

PYMNTS

JANUARY 29, 2019

Will Tom Brady turn in his jersey after the game for an AARP card and hit the celebrity golf circuit? Gambling Landscape. First, a review and update about the online sports gambling situation in the U.S. As the Super Bowl approaches, there is the usual uncertainty. Which team will win? Which brands will blow it?

Sports 67

Sports Gambling Legal New Jersey 67

PYMNTS

MARCH 19, 2019

according to the American Gaming Association. The decision came down 6-3, representing a victory for several states that would like to tap into sports gambling as a way to generate revenue and bring in tourism. Use reloadable cards and instant access to funds to keep gamblers happy and loyal to a particular gambling operation.

Sports 50

Sports Legal Gambling New Jersey 50

PYMNTS

FEBRUARY 2, 2021

“So they've been spending online — on Uber Eats , on apps, on gaming (lots of gaming!) In terms of security, she said, the cards can never be used on anything illicit — such as pornography or gambling sites — and those sites are automatically blocked. “If Mozper opens a custodial account with its sponsor bank.

Gaming 62

Gaming Gambling Education Account 62

PYMNTS

MAY 16, 2018

Today, illegal gambling represents a $150 billion business. Soon, however, the payments industry will be able to tap into that market legally, thanks to a recent decision by the Supreme Court to axe a federal law that prohibited gambling on sports in most U.S. Payments will, of course, be central to online gaming and sports wagering.

Sports 40

Sports Gambling Gaming Legal 40

PYMNTS

JANUARY 20, 2021

Digital sales accounted for 45 percent of all consumer banking sales for the quarter. Mastercard estimates the online gaming and gambling market at about $120 billion. Bank of America announced on Tuesday (Jan. Mastercard Says Odds Favor Instant Payments for Online Gamers and Gamblers.

Gambling 56

Gambling Gaming Sales Account 56

PYMNTS

SEPTEMBER 2, 2019

Some state lawmakers fear the convenience of placing mobile bets could trigger an increase in gambling problems. Illegal bets made through neighborhood bookies and offshore sites are valued at $150 billion a year, The American Gaming Association told the WSJ. About 80 percent of gamblers are now betting online.

Rhode Island 43

Rhode Island West Virginia New Jersey Gambling 43

PYMNTS

MARCH 14, 2020

It ran right after the Super Bowl game between the New York Giants and Denver Broncos when winning the Giants’ quarterback, Phil Simms, was asked a question that we at PYMNTS wholly approve of: “What’s next? Not the gambling part – thus far, there has been no discussion about shutting down gaming floors anywhere. Strong people.

Gambling 74

Gambling Gaming Sports Entertainment 74

PYMNTS

APRIL 23, 2019

Sports and fantasy sports gambling operations are a big deal in the U.S., Money laundering, account takeovers and other illicit activities threaten to turn away legitimate consumers, as well as the government agencies that provide gaming licenses. . with consumers betting more than $990 million in January alone. Key Issues.

Sports 43

Sports Gambling Gaming Legal 43

PYMNTS

DECEMBER 4, 2020

And it's not just Walgreens that’s getting into the advertising game. For example, Procter & Gamble Vice-Chair Jon Moeller told analysts in October that the household products giant was positioning itself to be channel-agnostic and win wherever consumers prefer to shop – whether that’s in-store, online or directly.

Retail 86

Retail Gambling Technology Manufacturing 86

PYMNTS

AUGUST 24, 2018

But playing and delivery methods keep changing, with Ohio of all places — no offense to the Buckeye State, home to multiple presidents and the Wright Brothers’ aerodynamic innovations — accounting for some of the latest developments. Gambling of all types is moving further into the digital realm.

Ohio 41

Ohio Gambling South Carolina Connecticut 41

PYMNTS

JUNE 13, 2019

One of the latest involves hackers successfully accomplishing account takeovers (ATOs) of users of Zelle, the digital payment service. acquire personal data via account takeovers. acquire personal data via account takeovers. According to the new Digital Fraud Tracker , total losses due to fraud equaled $4.2

Gaming 44

Gaming Gambling Technology Retail 44

LyfeAccounting

JULY 1, 2021

Gambling Income. Gambling income is considered taxable income at the federal level, and may be taxable at your state level too. Gambling includes, but is not limited to, casinos, lotteries, fantasy sports, racetracks, game shows, and sweepstakes. If not, you may owe taxes on the benefits. Contact us now to get started!

Tax 52

Tax Gambling tax return income tax 52

PYMNTS

MAY 11, 2020

The latest Disbursements Tracker® looks at the pandemic disbursements debacle through the lens of the casino gaming industry. The payment of gambling winnings offers insights into how inventive money movement can alleviate problems for cash-strapped Americans right now. Betting on Faster Payments.

Gambling 52

Gambling Government Gaming Retail 52

PYMNTS

NOVEMBER 18, 2017

If EA Games — the third- or fourth-largest video game company in the world — had set out to write a step-by-step guide on how not to release a new high-profile gaming product to the world, they probably could not have succeeded any better than they did (by accident) with the release of “Star Wars: Battlefront II.”

Gaming 42

Gaming Gambling Start-ups Account 42

PYMNTS

JANUARY 31, 2020

Accounts payable (AP) professionals and vendors still have reservations about adopting virtual cards despite their many benefits. Subscription commerce also will grow to encompass such areas as gaming, high-end and luxury apparel, designer socks and even vehicles. Super Bowl Countdown Brings New Online Gambling Action.

Technology 52

Technology Sports accounts payable Gambling 52

PYMNTS

AUGUST 14, 2019

In case you missed it, it seems PayPal-owned Venmo has added another option for instant transfer of money to a bank account, according to a blog post by the company earlier this week (Aug. Venmo, of course, is not the only major P2P player in the game. About a fifth, by comparison, had used Venmo for gambling. Zelle Trends.

Gambling 49

Gambling B2C B2B Maine 49

PYMNTS

JULY 3, 2018

It also saves the company from allocating resources to batch data entry at the end of the day or consolidating deposits from remote accounts. Tipalti CMO Rob Israch encouraged growing companies to consider automation to support growth, as the strategy of hiring more accounting members is not scalable or sustainable. Jewel Paymentech.

Gambling 40

Gambling Start-ups Gaming Tax 40

PYMNTS

APRIL 1, 2016

If anything, the issue over the legality of the games these sites provide has only grown murkier, especially as the payments companies that were once supporting the burgeoning industry have begun to pick sides in the regulatory fight. We may reenter the space in the future, should conditions change.

Massachusetts 40

Massachusetts Sports Gambling Legal 40

PYMNTS

APRIL 30, 2019

But there is also the increasing digital and mobile sale of age-restricted products and services — alcohol, eCigarettes and gambling now, perhaps cannabis somewhere down the road — and the need to ensure that underaged consumers don’t game the system and perhaps catch the attention of parents, law enforcement authorities and regulators. “A

Gambling 64

Gambling Illinois Maine Gaming 64

PYMNTS

JULY 5, 2018

In China, one must make sure to bring their top mobile game. In fact, so-called alternative payments in 2015 overtook cards when they accounted for 51 percent of eCommerce turnover. In Germany, security matters. Scandinavia has a thing for invoice-based payment programs. percent, he said. “I

Retail 43

Retail Gambling Construction Gaming 43