winnings | Common News Update

Jan312020 by adminNo Comments

Super Bowl betting is expected to be $6.8 billion. The IRS will want a piece of your winnings

Finance

If your weekend plans include dropping a bet on the Super Bowl, don't forget that Uncle Sam wants a piece of anything you win.Americans are expected to wager about $ 6.8 billion on Sunday night's matchup between the Kansas City Chiefs and San Francisco 49ers in Miami. And no matter where you place your bet — whether at a casino, online, through a pool or fantasy league, or at your neighbor's annual bash — the IRS expects you come to clean at tax time."Most people don't realize they have to report any kind of winnings from gambling activities," said Oscar Vives Ortiz, a CPA who serves on the American Institute of CPAs' personal financial specialist committee.Fans celebrate after making bets through FanDuel Sportsbook during Super Bowl LIII in East Rutherford, New Jersey, on Feb. 3, 2019.Edu...

Fulham striker Aleksandar Mitrovic responds to punter who lost out on £855 winnings due to missed penalty in FA Cup defeat by Oldham

Sports

thanks mate Relegation battling Fulham were dumped out the FA Cup by League Two side Oldham on Sunday Fulham striker Aleksandar Mitrovic has responded to a punter who called him out for missing a penalty in Fulham’s shock FA Cup defeat by Oldham. Premier League relegation battlers Fulham were dumped out the FA Cup on Sunday afternoon as Callum Lang scored an 88th minute winner for the League Two side. Lang’s goal completed a remarkable comeback for Oldham, who had fought back from a goal down with Sam Surridge cancelling out Denis Odoi’s 52nd minute opener. Oldham enjoyed an FA Cup fairy tale on Sunday Oldham did ride their luck at times, however, and when the hosts were awarded a penalty with just six minutes remaining it...

Online punters cheated out of winnings

Business

Online punters are being cheated out of winnings they expected to receive, a City watchdog has found.The Competition and Markets Authority (CMA) said it is taking "enforcement action" against five online bookies - which it is not willing to identify at this stage - claiming punters are not getting a fair deal and companies are holding on to people's money.It comes amid an ongoing investigation into the £4.5bn sector following allegations that "confusing and unclear" terms and conditions - or mistakes - were being cited for cutting winnings.The CMA said it had heard from "around 800 unhappy customers" and has demanded companies answer questions about how they operate - particularly through their use of sign-up promotions - such as free bets.Sign-up promotions are designed to attract players...