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Posted 20-05-2021  by   admin


ONLINE POKER LAWS FEDERAL US

Under the Internal Revenue Code, [1] U.S. citizens must include on their tax
returns and pay tax on all income, including all gambling income, earned
worldwide from whatever source. Unlike the United Kingdom and many other
countries, the United States taxes gambling income.
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 * Poker Laws By State
 * Online Poker Laws Usa
 * Online Poker Laws United States

U.S. taxpayers, with the exception of some professional gamblers, are not
allowed to ‘net’ their wins and losses (that is, combine them and report only
the total), but must add up their total wins from each gambling session and
report the total as income (part of ‘Other Income,’ line 21 of Form 1040.)
Losses in any year may be claimed, but only up to the amount of winnings
reported that year, and then only if the taxpayer elects to itemize deductions
rather than taking the standard deduction. [2]

Online poker not worth it. Federal Online Poker Laws In The United States Of
America. There is one online poker law at the federal level that needs to be
discussed, because there can be some misconceptions about what it does. Simply
from the title, people might get the wrong idea. It's called the Unlawful
Internet Gambling Enforcement Act. It's a scary title for those who enjoy online
poker and online gambling. As an online poker player located in the United
States you are not violating the UIGEA or any other federal law when you play
online poker. But you may be violating state or tribal law depending on the laws
of the state or Native American Reservation where you are located if you choose
to play poker on an unsanctioned online poker site.

A taxpayer must determine winnings and losses separately. However, the Internal
Revenue Code and supporting IRS precedent do not provide any specific guideline
on when a gambling activity begins and ends in order to determine whether the
particular activity resulted in a win or a loss. The purpose of this article is
to examine what precedent there is. That is, what constitutes a session of a
particular gambling activity?

IRS Publication 529 (Miscellaneous Deductions) provides general guidelines:

You must keep an accurate diary or similar record of your losses and winnings.
Your diary should contain at least the following information.

1. The date and type of your specific wager or wagering activity.

2. The name and address or locations of the gambling establishment.

3. The names of other persons present with you at the gambling establishment.

4. The amount(s) you won or lost.

For specific wagering transactions, you can use the following items to support
your winnings and losses….
Table games (twentyone, blackjack, craps, poker, baccarat, roulette, wheel of
fortune, etc.): The number of the table at which you were playing….

Before we try to determine what constitutes a “session”, let’s take a brief look
at documentation requirements for gamblers. You must keep a log (diary) of your
results. Courts have held that the log should be a “…contemporaneous daily
log”[4] and that the records be permanent[5].

If you are audited you have the burden of proof of showing that you have
maintained good records. “[T]he taxpayer should not be allowed to avoid paying
income taxes simply because he keeps incomplete records.”[6]

The simplest method to comply is a written log. You can use a small pocket paper
notepad or diary and write down the date, cardroom name, game, table number(s),
time you played (e.g. 1:00pm – 3:00pm), and your result (amount of win or loss).
This is the method that the IRS suggests.

Alternatively, you can use a computer system. IRS Publication 552 describes the
requirements for a computerized system: “If you use a computerized system, you
must be able to produce legible records of the required information. In addition
to the computerized records, you must keep proof of payment, receipts, and other
documents to prove the amounts shown on your tax return.” Back-up records for
tournaments are your tournament receipts. For live (cash) games, though, it’s
just your word. The IRS likes written records because it believes they are less
likely to be forged.

The final record-keeping requirement is that the data be entered
contemporaneously. While there are no specific standards for gambling expenses,
similar requirements exist for other types of expenses. For example, travel
expenses must be entered “…at or near the time of the expenditure.”[8] Thus, you
should enter your results in your log daily, or as quickly after playing as
possible. The burden of proof of records is on you, not the IRS.

The admonition to include the number of the table at which a game is played
implies that each table you play at forms a separate session. [7] But is this
treatment correct? And what about online poker, where a player may be playing at
four (or more) tables at the same time? Is each a separate session? Does the
session ever end?

Now, what exactly is a session? Unfortunately, there have been no court cases or
IRS Revenue Rulings on point.[9] Thus, we must determine the answer indirectly.

One meaning from a dictionary definition of session is “A period of time devoted
to a specific activity, [such] as to recording music in a studio[10].” This
implies that there be a discrete beginning and end to the activity.

The situations in which poker is played present good circumstances in which to
test possible answers. In poker there are tournaments, where players vie for
prizes awarded to those in the field that accumulate the most chips. Tournaments
are held in face-to-face settings like bricks & mortar cardrooms, country clubs
and at the ever-popular kitchen table as well in virtual settings such as online
cardrooms. Poker is also played, of course in live or “ring” games, where
competition is only among the players at a single table and any player is free
to leave with his remaining chip at any time. Again, these games can be
face-to-face or in a virtual environment online.

In poker tournaments a player buys an entry for a specified sum, plays until he
is eliminated (or wins), and receives a prize if he finishes “in the money.”
Poker tournaments, it would seem, are discrete events; each should be its own
separate session, regardless of the number of tables to which a player may be
moved or the number of days over which the tournament is played.

Live games, though, are murkier. The method that I was originally taught was
that your play at any one table at any one set of limits is a session. This
methodis certainly acceptable to the IRS because it maximizes the amount of
income a taxpayer would report[10a] . Assume that I am playing in a live ring
game of Texas hold’em, and I start at Table 1. I play for 15 minutes and win
$20. I then move to Table 2 where I lose $50 in 30 minutes. Finally, I move
again to Table 3 where I win $30 over the next hour, resulting in my breaking
even for the play at the three tables. Even if I were playing the same limits I
would at the end of the play for these three tables have $50 in income along
with $50 in losses (using the method described above). Of course, I really
played for one hour and 45 minutes and broke even.

The Fortune method fails the common-sense test. Assume that A goes to a cardroom
and plays in Texas hold’em games exactly as described. The games are ‘must-move’
games – players are forced by the cardroom to move from one table to another so
that the main game always remains full. A has come to the cardroom for a short 1
hour, 45 minute session of hold’em. At the end of that time he racks up his
chips, cashes them in, and leaves. From his point of view he has played one
session (at one set of limits) and broken even.

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Now assume that one evening B goes to the cardroom wanting to play $6/$12 Omaha
a high/low poker. When he arrives that game is full and he puts his name on the
waiting list for it. He notices that the $3/$6 Omaha game has a seat and decides
to play that game until there is a seat in the $6/$12 Omaha game. He buys in for
$60 and loses $10 in the $3/$6 game in the hour he is waiting for a seat in the
higher-stakes game. He is then called to the $6/$12 game, buys another $70 of
chips to add to the $50 he has remaining from the smaller game and plays for an
hour in the $6/$12 game (winning $50), and then cashes out for a total of $170.
Thus the net win for the evening is $40.

C goes to the same cardroom that evening, also wanting to play $6/$12 Omaha.
While he waits for that game he elects to play in $4/$8 Texas hold’em game. He
wins $50 while waiting an hour for the Omaha game. He is then able to get into
the Omaha game where he augments his chips and plays for an additional hour,
losing $100.

Finally, D then arrives at the same cardroom. He elects not to play in any game
while waiting for the $6/$12 Omaha game. After an hour wait he plays in that
game, losing $20. After an hour playing in that game he cashes out and buys into
the cardroom’s daily tournament. He plays in that tournament for two hours
(losing his buy-in/entry fee of $50), and then re-enters that $6/$12 Omaha game.
He plays in the Omaha game for two hours, winning $100. What are the session
results for B, C and D?

Before we answer that question let’s look at a useful analogy – a blackjack
player. Our hypothetical player enters a casino, buys $1000 in chips, and starts
playing at Table BJ-7 betting $5 per hand. After an hour he has lost $100. He
decides he doesn’t like the dealer, moves to Table BJ-8 and now bets $10 per
hand. After an hour he has won $500 at this table. He cashes out at the
cashier’s cage with a net win of $400. In my view, the blackjack player has
played one continuous session for two hours at two different tables. If he were
to come back later that day and play more blackjack he would be starting a new
session.

Poker Player B has a net win of $40 and I believe can report his win as one
session. He played the same game continuously. When he finished playing $3/$6
Omaha he did not cash out his chips; rather, he augmented (bought more) his
chips to play $6/$12 Omaha.

Player C has a net loss of $50. While C did play a continuous two-hour session,
he played in two different games (Texas hold’em and Omaha). I believe C should
report two different session results: a $50 win in Texas hold’em and a $100 loss
in Omaha.

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Finally, Player D has a net win of $30 but I believe he will have to report
three sessions. He effectively cashed-out when he sat down in the tournament –
he did not continuously play in alive game. Thus, D has a $20 losing Omaha
session, a $50 tournament loss, and a $100 win in Omaha.

We, thus, have a rule: a player can net his results in two (or more) different
games/tables if they were the same poker game playedcontinuously as part of the
same session. This is true for A and B but not C and D.[11]

Now, what about an online player playing multiple games at the same time? Take
Player E, who plays at one online site. He plays simultaneously at four
different virtual tables: Tables 17 & 18 in $1/$2 Texas hold’em games and Tables
19 & 20in $1/$2 Omaha games. E wins $10 at Table 17, loses $20 at Table 18, wins
$30 at Table 19and loses $5 at Table 20 while playing these tables
simultaneously during the same one-hour period.

There are no rules created by the IRS to treat online gambling differently than
gambling in a bricks & mortar cardroom. This means that we can apply the above
rule. E has two sessions, a loss of $10 in hold’em and a win of $25 in
Omaha.[12]

What if a player were to keep himself logged into the online site 24 hours a
day? Would he be able to say that his play over the entire year was one long
session? This fails the smell test – you are not playing continuously over that
year. As long as your play is continuous and in the same game it can be counted
as one session even if it spans more than one calendar day.[13].

In conclusion, determining what constitutes a “session” is not as easy one would
think on first glance. The common-sense definition, though, of playing the same
game continuously should stand up to IRS scrutiny.

End notes: Gambling cruises from west palm beach.

[1] 26 U.S.C.

[2] IRS Publication 529 (Miscellaneous Deductions) at page 11, states, “You
cannot reduce your gambling winnings by your gambling losses and report the
difference. You must report the full amount of your winnings as income and claim
your losses (up to the amount of winnings) as an itemized deduction.”.
professional gamblers are allowed to net their wins and losses .

[4] Doffin vs. Commissioner, T.C. Memo. 1991-114

[5] Sec. 6001 sec. 1.6001-1(a), Income Tax Regs

[6] Adamson v. Commissioner [84-2 USTC ¶ 9863], 745 F.2d 541, 548 (9th Cir.
1984), affirming a Memorandum Opinion of the US Tax Court (Dec. 39,154(M)].

[7] Indeed, an author in Fortune magazine wrote in an article in 2000: “…the IRS
mandates that [one] keep precise records of every session he plays all year. If
[one] plays one hand and then switches tables – yep, he has to make a whole new
entry [in his diary].” Lee Clifford, “Burden of Proof,” Fortune, October 30,
2000; accessed on www.fortune.com. It is unlikely that the quote is completely
true.

[8] Sec. 1.274-5T(c)(2)(i) and (ii), Temporary Income Tax Regs., 50 Fed. Reg
46017 (Nov. 6, 1985)

[9] The author did a search of the Lexis-Nexis database and did not turn up any
cases on point. Additionally, a search of a database with IRS Revenue Rulings
(from 1951 to the present) failed to find for any Rulings on point.

[10] American Heritage Dictionary of the English Language, Fourth Edition,
accessed at www.dictionary.com.

[10a] The IRS usually accepts any method that results in maximizing income.
However, the IRS can also accept other methods that result in a smaller income
amount.

[11] While it is possible that the IRS would accept two different games played
as the same continuous session, the author feels that the wagers being made in
different games are, by their very nature, different; thus, they must be treated
as different sessions. The author feels that the IRS would not accept, in an
audit (examination) two different games played continuously as the same session.

[12] In a recent article in CardPlayer (March 26, 2004, page 36), Yolanda
Smulik-Roche and Roger C. Roche answer a reader’s question, “If I play poker
online, do I have to pay any taxes at the end of the year?” by stating “Only if
you were a winner for the year.” This is clearly contrary to the IRS Code and
Publication 529. Whether you gamble online or in a brick and mortar cardroom,
you must add your winning sessions together and include those as part of Other
Income even if your dollar losses from losing sessions exceed your dollar
winnings from winning sessions!

[13] A good example of this is a multi-day tournament. A tournament is a
discrete session, even if it begins on Monday and ends on Friday. Another
example would be if you started playing at 11:30pm and finished your session at
1:30am, playing continuously over that two-hour period. That is clearly one
two-hour session, not a session of 30 minutes followed by a 90-minute session.

Published: July 9, 2015 - - Posted In: Poker News

Capitol Hill politicians are said to be considering a proposal that would impose
a temporary moratorium on the further expansion of online poker in the US.

According to Chris Krafcik from Gambling Compliance, the temporary moratorium
would prevent states that have not already regulated online gambling (Nevada,
New Jersey and Delaware) from passing legislation that would allow online
gambling in their jurisdictions.

The moratorium is rumored to have been proposed in order for a federal study
into online gambling to be conducted, and is seen to be a compromise by
politicians – Republican politicians in particular – opposed to the eradication
of the states´ right proposed in the [geolink
href=”https://www.usafriendlypokersites.com/rawa-reintroduced-in-us-senate/”]recently-introduced
“Restoration of Americas Wire Act”[/geolink] (RAWA).

The arguments in favor of a moratorium on the further expansion of online poker
in the US are that the federal study would enable politicians who are currently
sitting on the fence to make an informed decision about whether to support a
blanket ban of online poker throughout the US, or leave the individual states to
introduce their own legislation.


A MORATORIUM WOULD NOT NECESSARILY A BAD THING

Depending on how long it took for a federal study to be completed, a moratorium
would not necessarily be a bad thing. Any right-minded person (bearing in mind
we are discussing US politicians) with a full set of facts in front of them
would see that a federal ban on Internet gambling would be a bad decision.

Even though the three states that have regulated online poker have returned
under-whelming revenues, they have returned revenues. Furthermore, players have
been protected when online poker sites have gone down (as witnessed when
[geolink
href=”https://www.usafriendlypokersites.com/ultimate-pokers-exit-nevada-market-lessons-learned/”]Ultimate
Poker closed its doors in Nevada[/geolink]) and safeguards have been introduced
to prevent underage gambling and help problem gamblers.

If a moratorium is going to be introduced, this would seem to be a good time to
do it. The drive to regulate US online poker seems to be stalling – possibly
while states are waiting for the outcome of RAWA – and, although the short-term
implications of a moratorium are not good, the long term impact of RAWA being
kicked into touch should allow an unfettered expansion of online poker in the
US.


MEANWHILE, IN CALIFORNIA …

One state that certainly will not be regulating online poker in the near future
is California. Yesterday´s hearing of the Governmental Organization Committee
was scheduled to discuss Mike Gatto´s and Reggie Jones-Sawyer´s proposals for
online poker – a hearing that earlier in the year was described as pivotal in
shaping the outcome of future legislation for online gambling in California.

However, after both Assemblymen pulled their Bills from the hearing, the
committee focused on pet shelters and raising the minimum age to purchase
tobacco products from 18 to 21. With little time remaining in the current
legislative session, it is unlikely that further hearings will be scheduled to
discuss the regulation of online gambling in California, particularly as the
primary stakeholders appear to be further apart than ever before.

A recent revenue-sharing “olive branch” offered to the race tracks by Mark
Macarro – chairman of the Pechanga Band of Luiseño Indians – has been firmly
rejected by representatives of the horseracing industry. One spokesperson said
that “if [online gambling regulation] doesn´t happen, we´ll get along” – echoing
Macarro´s own words from earlier this year that he would rather see no law than
a bad law.


ELSEWHERE IN THE US …


POKER LAWS BY STATE

Elsewhere in the US, little seems to be happening towards the regulation of
online gambling. Although Pennsylvania was looking a sure-fire bet earlier this
year to introduce online gambling legislation, the process seems to have got
bogged down with futile objections and arguments over the tax rates that should
be applied.


ONLINE POKER LAWS USA

Maybe a moratorium would be a good idea. It would allow time for arguments to be
resolved and consensus to be found. It would certainly lift the burden of
expectation from lawmakers and stakeholders, and allow for constructive
discussions to take place behind closed doors – rather than allow (some)
politicians to use online poker in the US as a platform to enhance their
political careers.


ONLINE POKER LAWS UNITED STATES

If the rumored federal study finds favorably for Internet gambling, that would
ease the passage of legislation in the states that wish to introduce regulate
online poker. As more states regulate online poker and interstate compacts are
developed, the market for online poker in the US would expand. That would be
beneficial to players, stakeholders and tax revenues. Wouldn´t that be a good
thing?







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