Gambling Feed

Yes, there's the Republican plan to replace Obamacare. And, yes, a serious winter storm is pounding the Northeast. But today, March 14, attention turns to the men's college basketball championship. The quest for that title is known as March Madness and it kicks off with two games later today in Dayton, Ohio. Place your bets: I'm not a basketball fan, college or pro, but long-time readers know what this month means to me — gambling and taxes. While the Super Bowl is the year's single biggest betting day — we're waiting for the final tally, but last February's 51st NFL... Read more →


Did you, like the second-half resurgent New England Patriots, come up a winner yesterday thanks to some Super Bowl bets? The New England Patriots scored 31 unanswered points and stunned the Atlanta Falcons with an overtime Super Bowl LI win Sunday, Feb. 5, at NRG Stadium in Houston. With the victory, Tom Brady became the first quarterback to win five Super Bowl games. (Photo courtesy NFL.com) Uncle Sam congratulates and thanks you. Gambling winnings, whether thousands of dollars on a sports championship or a few bucks from a lottery scratch-off ticket, are taxable income. Some of the taxable winnings come... Read more →


Super Bowl LI will kick off in a few hours. Get your guacamole made and place your bets! I obviously don't need to encourage folks to chow down or gamble on Super Bowl Sunday. Every year, it's the single largest day for U.S. avocado consumption and for betting. Yes, I've wandered through the betting section of a couple of Las Vegas casinos, but usually confine my money losing to the one-armed bandits. Last year, according to the Nevada Gaming Commission, a record $132.5 million in total bets were placed on the Super Bowl. Remember, these were legal bets made in... Read more →


Sunday is a big day not just for football fans, but also food fans. Super Bowl party snacks rank right up there with the specially-created television commercials, crazy prop bets and the game's halftime show. These items I regularly purchase are, according to my local H.E.B. grocery store's labels, hecho en Mexico. Heck, a lot of people look forward to those events more than the annual NFL championship game itself. Literally loading up on guac: In fact, it's a major day for guacamole. "Guacamole has become one of the most popular Super Bowl snacks," Ramon Paz, spokesman for the Association... Read more →


Will we hear "Houston, we have a problem" during Sunday's Super Bowl LI in H-Town? Oddsmakers say yes, there is a good chance we will hear that NASA-related phrase (popularized by the movie Apollo 13, but not actually uttered during the real ill-fated 1970 mission) during the NFL championship game's live broadcast. Super Bowl LI kicks off at 6:30 ET/5:30 CT, Sunday, Feb. 5 from NRG Field in Houston, Texas. It will be broadcast on Fox. That's just one of the prop bets being wagered on Sunday's (Feb. 5) matchup between the New England Patriots and Atlanta Falcons. Total wagering... Read more →


Hello February. Although you're the year's shortest month, your fewer days can be full of extremes, like snow this week in the Midwest and Northeast and weather warm enough here in Central Texas for us to turn off the furnace and open windows. Image courtesy Tammy King's February Pinterest Board February's changes can be dramatic. But there's no need to over-react to your taxes this month. There are lots of easy moves you can make over the next 28 days. Collect your tax statements: Filing data on a variety of forms is filtering in this month. If you work for... Read more →


Do you live in Lafayette, Tennessee? Or maybe you know someone who lives in this town of about 5,000 just 60 miles or so northeast of Nashville. Or perhaps you know someone who just happened to pass through there and purchased a Powerball lottery ticket. Don't get too excited if you had 32 and 16 on your Powerball ticket. This Giphy image is from an earlier drawing, not the almost $421 million jackpot won by a Tennessee ticket buyer this weekend. That lucky person bought THE Powerball lottery ticket, which last night (Saturday, Nov. 26) matched all six of the... Read more →


The third and final presidential debate is tonight in Las Vegas, and it's a sure bet that most Americans will be delighted when this portion of the 2016 campaign is over. Donald Trump and Hillary Clinton will face off Oct. 19 on a stage at the University of Nevada, Las Vegas, with Fox News' Chris Wallace moderating. The previous face-to-face encounters between Democratic nominee Hillary Clinton and Republican hopeful Donald J. Trump have been awkward, frustrating and annoying, and I'm just talking about the reactions of viewers! The debates also have been woefully short on policy specifics, especially taxes. But... Read more →


UPDATE: The Oakland Raiders received conditional approval from the National Football League on March 27, 2017, to move to Nevada. The team, however, will play in Oakland possibly through the 2018 season while its Las Vegas stadium is built (using taxpayer money; see below). At least the Northern California stadium use will justify for a while the $83 million in taxpayer-funded bonds, dating back two decades, issued for renovations to the Raiders’ current Golden State home field. Hmmm. Speaking of the Oakland-Alameda Coliseum, the top seating deck already is blocked off because the team couldn't draw enough fans, partly because... Read more →


Sports and betting, much to the chagrin of athletic purists and most league officials (except NBA Commissioner Adam Silver), are inextricably linked. Billions of dollars, from ubiquitous office pools to professional gamblers, are wagered, legally and illegally, on sporting events every year. Gamblers at a Las Vegas casino's sportsbook area place their bets, keep up with the many games on which they can wager. And this summer, the 2016 Olympics officially add to the U.S. wagering tally. Betting on the world's best athletes: Nevada Gaming Control last year revised state regulations to allow Silver State sportsbooks to offer wagering on... Read more →


The winning Powerball ticket last night, July 30, was sold in New Hampshire. If the person who bought it is indeed a resident of the Granite State and not just a visitor passing through, he or she also is very tax lucky. A single New Hampshire lottery ticket had the winning numbers of 11, 17, 21, 23, and 32, with the Powerball of 5. New Hampshire only taxes dividend and interest income, so the state won't get any immediate cut of the winner's jackpot of $330.6 million as a lump sum or, if the winner chooses 30 annual annuity payments,... Read more →


One lucky Powerball winner tonight could pocket $478 million if the jackpot is paid out over 39 years. Some of my old Powerball tickets. And yes, I do have one for tonight's big drawing. It's more likely, however, that any winner will take the immediate lump sum option. That's a cash prize of "just" $330.6 million. That taxable lump sum amount also earns this week's By the Numbers honor. A handful of folks have won relatively smaller amounts in the three months that the main Powerball jackpot has been growing. Just this last week, a Florida ticket matched enough numbers... Read more →


It's been a good few days for lottery players. The Mega Millions $540 million jackpot was won last night, Friday, July 8, by a ticket buyer in Cambridge City, Indiana. Yokasta Boyer holding her big check from the New Jersey Lottery. (Photo courtesy N.J. Lottery Commission) And just the day before, Thursday, July 7, the New Jersey Lottery announced that a woman discovered a $472,271 winning ticket for one of that state's lottery games as she was going through some papers in order to file her tax return. Mega mystery: We don't know yet who bought the Indiana winning ticket.... Read more →


Even without the Triple Crown on the line, today is still a big one for thoroughbred race fans. Could Suddenbreakingnews, getting a workout back in March, spoil Exaggerator's quest for another trophy in today's Belmont Stakes? Exaggerator, who out raced rival and previously undefeated Kentucky Derby winner Nyquist in Baltimore's muddy Preakness Stakes last month, is the favorite to win the Belmont Stakes later today. But the wide open field -- Nyquist's owners pulled the pony because it had been dealing with a fever and elevated white blood count -- has opened up the betting. A new horse in the... Read more →


It's Derby Day. No, not the hat, although fancy chapeaux are a big part of the big race in the Bluegrass State. Well-dressed racing fans at the 2008 Kentucky Derby. Photo by Lee Burchfield via Flickr. It's the running of the Kentucky Derby, the first leg of horse racing's Triple Crown. Thanks to American Pharoah's wins last year at Churchill Downs in Louisville, Kentucky; Pimlico Race Course in Baltimore, Maryland; and Belmont Park in Elmont, New York, we're starting a new quest for the world's best thoroughbred. Winning race bets are taxable: The tax focus on this and other big... Read more →


It's a wonderful day. In preparation for the 2016 National Football League draft that starts tonight at 8 p.m./7 Central, we step back from the drama of the presidential campaign and get ready for the drama of which young men will become instant millionaires. I'm a Dallas Cowboys fan, so the draft fascination for me is what crazy move owner Jerry Jones might make. (Photo by Kay Bell; Cowboys vs. Lions, Nov. 21, 2010, at Jerry World) As ESPN senior writer Mike Sando notes, "Like its predecessors, the 2016 NFL draft has proved to be unpredictable and, come Thursday night,... Read more →


This was supposed to be the year that the Internal Revenue Service and its Security Summit partners clamped down on tax identity thieves. So much for the best-laid plans to fight tax fraud. The 2016 filing season has seen a series of tax security concerns, both among private tax service providers and the IRS. Identity protection site targeted:The latest trouble is a possible security problem with the IRS' Identity Protection Personal Identification Number, or IP PIN, online retrieval tool. An IP PIN is used by folks who've had their tax filing data stolen. They use their IRS-issued six-digit IP PIN... Read more →


I am not a big gambler. Sure, as long-time readers of the ol' blog know, I buy lottery tickets. Way too many lottery tickets. But when the hubby and I go to Las Vegas, we go for the shows -- Cirque du Soleil, Penn and Teller, Blue Man Group -- not the betting. Today, however, is one of my favorite days of the year and it's not because of the Super Bowl itself, but because of the prop bets. (Full disclosure: That will change when the Cowboys finally get back to the championship game.) Beyoncé's appearance in today's Super Bowl... Read more →


What do hearts and flowers, leaping amphibians and taxes have in common? February! The shortest month of the year is upon us. In 2016, however, it's a day longer because it's Leap Year, hence the frog allusion, adding a 29th day to our calendars. Then, of course, there's Feb. 14, Valentine's Day. And February also is a traditionally busy time for taxes. This is the month that most of us finally get all the tax statements we need to file our returns. And folks who filed early are anxiously awaiting their refunds. Whether you're working on your 2015 taxes or... Read more →


The buzz about the biggest U.S. lottery ever continues, as we wait for the rest of the Powerball winners to come forward. So far, just Jim and Lisa Robinson, the Tennessee ticket buyers, have claimed their portion of the $1.5 billion prize. Many lottery veterans and financial experts have questioned the couple's public acceptance of their millions (they're taking the lump sum payment), but what's done is done. Jim and Lisa Robinson (she's in the fuchsia jacket, with her husband to the left of her in this screenshot), America's newest lottery millionaires, talk about their good luck. Click image to... Read more →