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 The Super Bowl is one of the biggest sports betting events of the year for Las Vegas bookmakers. The Green Bay Packers winning the match and the game going into overtime however was a worst case scenario. Odds makers had a tough time figuring out how sports fans would bet because the Packers and the Steelers are two of the NFL's biggest franchises. It turns out fans however had no problem predicting the winner. Despite millions of dollars in prop bets the sports book industry still suffered heavy losses from the Super Bowl itself.
Gamblers may have had a good day but that doesn't mean they don't have to tread carefully. The IRS will be keeping a watchful eye on sports bettors come tax time because gambling tax revenue could mean millions of dollars for the state and federal economy. It may have been common place for gamblers to avoid claiming gambling winnings in the past but with deficits affecting the state and federal budget, a massive crackdown is expected.
If you won big on Super Bowl Sunday make sure that you claim your winnings as taxable income on your tax return otherwise you could find yourself in some hot water. If you run into problems don't say we didn't warn you.
As always, stay tuned to Casinofan for more news and updates.
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