Quote:
Originally Posted by ajphilly
Below is from Hegarty's DRF piece. If I'm interpreting this correctly (which I may not be), it seems like ABC players might be ok as long as they are using an ADW? Or would the IRS still take a cut and you'd have to get it back at tax time?
Under the rules, the new reporting and withholding requirements would apply only to a single ticket if the bet was placed at a physical wagering site, such as a racetrack or OTB. However, customers of account-wagering companies would be able to count all such wagers into a single pool, regardless of the number of tickets, because of the existence of a verifiable record of those wagers.
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AJ.
That's the initial read, yes. NTRA going over document wording now to see if there needs to be some fine tuning.
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