DevadasiCaravan

A strong nation, a healthy family.

Why Engage in Online Gambling?

The online gambling fan has received a great database of information from the new site that is Latest Casino Bonuses. Attractive gambling bonuses offered by online gambling websites are a great way to magnetize visitors to play in their casinos. When the web is full of lucrative casino bonus offers it is hard to pin point the best deals. One needs to be careful of not getting trapped in any gambling scams and also not to miss out on the top gambling bonuses. We at Latest Casino Bonuses are committed to bringing you the greatest gambling offers available on the net.

The site is updated regularly with the finest gambling bonuses to suit you. There are impressive offers for every game, be it Blackjack, Poker, Slots, Craps, Baccarat, Video Poker, Roulette, Sic Bo, Bingo and many others. Each top gambling bonus is reviewed constantly to bring to you the premium offers on each game from different websites. Bonus offers are constantly changing with respect to the amount given the frequency of the bonus and its wagering requirements. There are different limitations with respect to whom casino bonuses apply, but the popularity of this scheme is here to stay.

There is an endless list of online bonuses, some of which appear to be quite lucrative. But most proposals are not as profitable as they seem at the first sight, one needs to analyze the fine print carefully and check the many clauses attached to the offer. Since there are various wagering requirements and withdrawal limitations linked to bonus offers by online gambling casinos. On our site we do the tedious homework of searching and analyzing numerous bids available online and bring to you only the finest and most profitable deals.

Many casinos offer bonuses ranging from 100% or more on sign up deposits but one of the most attractive proposals is of the no deposit casino bonus.  live22  There are some sites that do not require any deposit but present you with free money to play. On our site we investigate the entire web to bring to you the list of online casinos that present the finest deals for no deposit casino bonuses.

Slot machines are the most attractive game for the first timers of the casino world. They are in fact a hot favorite among both novice and veteran casino players. Slot machines are so popular that almost more than half of online casino revenues come from these games. Hence there is a huge downpour of bonuses offered for slots. We regularly review the latest slot bonuses offered by different websites and bring to you the foremost deals for your ultimate gambling pleasure.

Top gambling bonuses are revised frequently by the owners of online casinos to attract players. Hence it is important to do some legwork prior to venturing into any bonus offer. Our site presents to you the list of foremost profitable bonuses at any one time. It is the best place to get started since there is also over 30 casinos that extend no deposit casino bonuses which is a blessing for those who are venturing into the casino world for the first time. And even for the most common game of slot machines the most excellent deals are searched and listed for your benefit.

So you won some money at gambling, and you want to know if you have to pay the Government, income taxes on your winnings. Well, the short answer to that is yes, but there are some exceptions to the rule.

If you had gambling winnings you’re required to report them as other income on IRS Form 1040. The tax rate for online, internet and sports gambling winnings is the same as your regular income.

If you had gambling losses you are allowed to deduct what you lost, up to the amount that you’ve won. You are not allowed to deduct gambling losses that exceed your winnings, and you are not allowed to carry-over your losses from one year to another.

A Form W-2G is used to report gambling winnings from, internet, online, casino, sports betting, horse racing, lotteries, bingo and other legal gambling activities.

You’ll receive a Form W-2G if:

  • Income taxes were withheld from your winnings
  • You won at least $600 or more and your winnings were at least 300 times the amount of your bet
  • Your winnings were from a slot machine or bingo in the amount of $1200 or more
  • Your winnings were from keno in the amount of $1500 or more.

How to deduct your losses from your winnings

In order to avoid paying gambling tax you’ll need to itemize your losses on Schedule A tax form (itemized deductions). As with most itemized deductions you are required to keep a record of gambling winnings and losses. You should keep the date, time, type, place, tickets, receipts and any other records you have as proof.

By keeping accurate records of your online, internet and casino gambling you can pay less tax when you win. When you pay less gambling tax, you win again!

Have you ever thought that it’s possible to make a lucrative career out of gambling on the Internet? I have a friend who has a hobby of playing poker through an Internet gambling site when we were in college. He began to win consistently and began make a bit of money over the next couple of years.

He also began spending more of his time on Internet gambling sites. Gradually, he began to get better and began to know which players he could defeat and created an effective winning strategy. He was even able to bankroll his friends into playing so that he could earn more money.

After he graduated from college, he received an offer from the headquarters of a large bank and started working in the corporate world. However, he realized after a few weeks that he did not like working for a company.

He began to think of the possibility of making Internet gambling his true career since he was still playing regularly and making good money. He decided to quit his job and ran with the idea.

He shared an apartment with a friend who was a medical student and continued to stay up practically all night playing poker online. Even though, he was not making outrageous money at the time, he was still able to pay bills and live comfortably by wagering his money through Internet gambling.

Most of his friends were quite jealous of his gambling ability and initiative to actually make this a reality. Careers like working in a bank, going to medical school, and being a consultant certainly were not as entertaining as playing online poker. He decided to moved back home for awhile to save some money and to be able to “focus” more on Internet gambling.

After three years, he is making over $100,000 per year through his internet gambling “career”. He also gets free trips and comps in Las Vegas in actual casinos as rewards for playing online. He has even received job offers from online casinos to work behind the scenes.

He declined their offers because he is not ready to give up Internet gambling. He told me that he has no plans in taking any sort of corporate job any time soon. After all, he really has no need to since he has found something he loves to do, and has made it his career.

 

Leave a Reply

Your email address will not be published. Required fields are marked *