Last edited by AlienSpaceBat; at No one answers because you could just google it yourself. And I never read about anyone getting issued a W2 from Bovada Winnings on your taxes are self-reported.. You should have either pokertracker or holdem manager and the hand history converter which will convert the hands into a format that can be imported into pokertracker or holdem manager. As far as how to report your winnings, you'll want to look in the Poker Legislation sub-forum or find a tax accountant.
I did google it, actually read some of the links provided, but what do I tell the teller if I get a check? Do I just tell them its from playing poker online from bovada? Originally Posted by W Originally Posted by ten Definitely do NOT do that. Bank would close your account. I wouldn't say anything about it unless they ask and just say you do some consulting work, program web pages or some other type of online work.
Bank tellers usually don't get too nosy about where the checks come from. They understand that their customers want a certain amount of privacy. If someone does ask, you can just make up something. I don't think that your reply gets written down anywhere; it's probably just the teller trying to figure out how the process the check.
Banks aren't going to report small checks to the IRS. The only real concern would be if you got audited for some other reason and had to explain those checks. What's ur sn on other sites?
So at first this was about taxes then suddenly its about how to deposit in your bank. Banks in the U. Checks are not cash-equivalent, though. BTW, even if the feds considered intercountry gambling to be illegal, you still shouldn't lie to the IRS when you do your taxes about where the money came from.
You're required to report income from illegal activities when you file taxes not saying playing poker online is illegal, but if it was If you want advice on that front, though, you'd probably be better off in the Poker Legislation subforum.
The IRS doesn't care where the money came from. All they care about is their cut. Mods Shouldn't the bank names get edited out like in pay out thread? Originally Posted by TheEuroGobbler. Originally Posted by Mike Haven.
Mods don't read every thread. Report posts if you think they need to be considered for editing or deletion. Originally Posted by TeamTrousers. Oh yes you do, don't try to kid us that you do anything else. I never cashed out, I'm a loosing player, this year im up a couple chese burgers lol, I was just saying incase I start crushing the game today or something Originally Posted by imabigdeal. I cashed out via the visa method. I called my bank who setup my cc to send me the check so I could deposit my winnings into a savings account.
The bank teller asked me if this was a charge back. I paused for a few seconds and said yes. I got the check a week later. A week after that I got an email from my bank asking what I do for a living. Apparently they need to 'know the customer' and this helps them catch money launderers, fraud, and terrorism.
I'm not sure if this helps you any but that's what I experienced. BB code is On. All times are GMT The time now is Page 1 of 2. Reporting Bovada Winnings I'm just curious to know, how do you go about reporting poker winnings from bovada on your taxes? Send a private message to W Find More Posts by W Find Threads Started by W Reporting Bovada Winnings can somone answer this, im pretty sure someone has to know Reporting Bovada Winnings No one answers because you could just google it yourself.
Send a private message to MikeBuzzsaw. Find More Posts by MikeBuzzsaw. Find Threads Started by MikeBuzzsaw. I want to go to there.. Reporting Bovada Winnings Winnings on your taxes are self-reported.. Reporting Bovada Winnings I did google it, actually read some of the links provided, but what do I tell the teller if I get a check?
Reporting Bovada Winnings Quote: Originally Posted by W Do I just tell them its from playing poker online from bovada? Send a private message to zapzer.
Find More Posts by zapzer. Find Threads Started by zapzer. Originally Posted by W I did google it, actually read some of the links provided, but what do I tell the teller if I get a check? Check out this review and see if Bovada looks like the sportsbook for you. Payouts from Bovada can take anywhere from a few hours to a few weeks depending on the method that the user chooses. On the opposite end, waiting for a check to arrive would be the longest, usually 2 to 3 weeks.
Want to know more? Keep reading and we'll break it all down for you on this page, plus maybe some things you might have over-looked such as withdrawal limits and processing fees. Or, go to Bovada and start betting right now Bovada Sportsbook is a foremost leader in the online sports betting industry, particularly when it comes to providing some of the fastest payouts found amongst its chief competitors.
In a current state where American players have fewer options than others around the world when it comes to getting paid, Bovada has a few methods that can provide payment from sports betting accounts in as little as 24 hours. But, different payout methods come with varying fees attached to them. The quicker a payout method works generally means that option will have higher surcharges included for using it.
The following guide to Bovada Sportsbook withdrawals will educate you on exactly how the particular payout methods work, plus let you know how long it's going to take, and what fees are likely to be charged. Before going any further, all Bovada payout methods are intended for those living in the U. That makes sense because Bovada was created specifically with the American players in mind. All of the payout options below are approved for those living in the states where residents are allowed to wager in the sportsbook.
The Western Union 'Rapid Transfer' option is offered only to those players who chose to use this method as means to make a deposit into their Bovada account. There are a few things that players should be aware of when it comes to receiving a Western Union transfer payout. Various fees accompany a Western Union payout from Bovada, and it depends on how much a player is withdrawing at one time.
Receiving a payout from Bovada through Western Union is the fastest payout option available to U. For the MoneyGram transfer, the timeframe is equal to that of the Western Union transfer less than 48 hours, usually sooner , but there are some different payout limits and fees that go along with using Bovada's "Money Transfer" option. A bank wire option is the best choice for the big players at Bovada thanks to the high maximum payout limits set.
A bank wire is essentially a wire transfer, though the process takes longer because it is not individually processed. Instead, the bank processes these types of bank wires in batch form, which can take anywhere from business days. Additionally, Bovada Sportsbook states that users are only able to request one bank wire payment per calendar month This method is also one of the ways that Bovada prefers to process their payouts as indicated by the one free payment check issued to users every month.
To begin the process of receiving a online sportsbook payout with a check , account holders will submit a request to the cashier about their intent to make a withdrawal, citing the courier check method as their payout type.
The time is takes to receive a check will vary depending on the location of the account holder, but generally speaking it takes no more than 10 business days for players to get paid. Getting paid is great, but if a sportsbook doesn't have what you want to bet on, have you really accomplished anything? Not really and that is the reason why you need to know about all the other details related to using Bovada.
Below, we're going to cover several important areas that may or may not concern you. These are things to be aware of like making deposits, who is accepted, and what can be wagered on.