That is a good illustration of the difference between the old and the new IRS reporting and withholding rules. In the real world, a wager such as mine would have been a "signer" under the old rules since it was a wager that had proceeds of over $600 and the winning payoff taken by itself had odds of 300-1 or greater. However, under the new rules, the entire ticket would have been taken into account, and since my ticket cost $98, the payoff would have been much, much less than the required 300-1. That looks at the simple fact that the ticket included 47 losing combinations in addition to the one successful one.
The only thing that amazes me is how long it took the IRS to appreciate the way that exotic wagering has changed from the old days of only WPS betting.
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