Algerina Perna | Baltimore Sun | MCT | Getty Images
It appears Americans are definitely ready to bet on football.
Heading into the National Football League’s 102nd season which kicked off last week about 45.2 million Americans said they plan to wager on games, up about 36% from a year ago, according to research from the American Gaming Association. The growth comes as half of states now offer legalized sports betting and more are gearing up to do so.
That means your winning bets could be subject to taxation even before it reaches you, depending on how big it is. And if you win money through unregulated channels, you’re expected to fess up to the IRS at tax time.
“Whether you enjoy bets on races, join a fantasy football le…
Read the full article at: https://www.cnbc.com/2021/09/13/football-betting-is-in-full-swing-dont-forget-the-taxman-if-you-win.html