papazoid Posted December 20, 2012 Posted December 20, 2012 The feds sent a hearty bah-humbug to participants and organizers of a large NFL survivor pool this week, according to emails obtained by The Linemakers on Sporting News. The alleged pool organizer sent an email to participants Wednesday, saying: “I had a nice little visit from the IRS tonight.... They have shut down the Pool and seized the money... There will be no payout this year and as of now, all money is in the hands of the Federal Government... I apologize for this but there is absolutely nothing I can do...” http://linemakers.sportingnews.com/nfl/2012-12-20/federal-government-shuts-down-nfl-survivor-pool-irs-seizes-money
erynthered Posted December 20, 2012 Posted December 20, 2012 A buddy of mine has been in similar pools like that for years. I liked the 10% to charity thingy.
todzilla Posted December 20, 2012 Posted December 20, 2012 Thats why you shouldn't mention entry fees and winnings on the website message boards you play on. Especially with a prize this big. That said, what a shame, if you are one of the 20 left, you would be so ticked off. Still seems silly that you can go to Vegas and bet anything you want on a single game and then this gets shut down.
aristocrat Posted December 20, 2012 Posted December 20, 2012 At least it was only 100 bucks each in and not like a 10k entry fee.
Thisistheyear Posted December 20, 2012 Posted December 20, 2012 (edited) I may not, and often don't, have any idea what I'm talking about. However, I always thought that pools like these were in the clear as long as there was no house taking a percentage of the fees. I wonder if the portion being donated to charity is what red flagged this? Edited December 20, 2012 by Thisistheyear
plenzmd1 Posted December 20, 2012 Posted December 20, 2012 Scam? My first thought as well, but seems like they got confirmation according to the article.
jr1 Posted December 20, 2012 Posted December 20, 2012 (edited) Has Jeff Probst been notified? Edited December 20, 2012 by jr1
Captain Caveman Posted December 20, 2012 Posted December 20, 2012 Thats why you shouldn't mention entry fees and winnings on the website message boards you play on. Especially with a prize this big. That said, what a shame, if you are one of the 20 left, you would be so ticked off. Still seems silly that you can go to Vegas and bet anything you want on a single game and then this gets shut down. Having 200,000 extra dollars in the bank is probably red flag enough.
1B4IDie Posted December 20, 2012 Posted December 20, 2012 I may not, and often don't, have any idea what I'm talking about. However, I always thought that pools like these were in the clear as long as there was no house taking a percentage of the fees. I wonder if the portion being donated to charity is what red flagged this? Why would gambling on sports be legal? I think an individual that likely doesn't normally have 200K suddenly obtain a bank account with 200K be a huge red flag. Irs "how did you get 200K?" Moron "oh its just a friendly little NFL survival pool. That's legal right?" IRS "give me that money dumbass."
ny33 Posted December 20, 2012 Posted December 20, 2012 (edited) Why are ESPN and various other websites allowed to do this legally? The double-standard from our lovely government is insane. Edited December 20, 2012 by ny33
Badasss Posted December 20, 2012 Posted December 20, 2012 Why are ESPN and various other websites allowed to do this legally? The double-standard from our lovely government is insane. Probably because the winner of the ESPN pool is issued a Form W-2G at the end of the yr, which requires the recipient to pay taxes on his earnings.
todzilla Posted December 20, 2012 Posted December 20, 2012 What if you win something like this and then declare the winnings as gambling earnings, similar to winning a slot machine jackpot?
Just Jack Posted December 20, 2012 Posted December 20, 2012 What if you win something like this and then declare the winnings as gambling earnings, similar to winning a slot machine jackpot? Still needs to be reported and taxes paid.... http://www.irs.gov/t...pics/tc419.html Side Note: I've recently started working at a NY Lottery run casino. Since the state is involved, if you win a jackpot, they check to see if you have any back taxes, court fees, etc before paying you what you won. The story I heard is one night someone won several thousand dollars on a slot machine. They run his ID and find he was behind on his child support payments. Which was news to the "girlfriend" that was with him that night, that didn't even know he had a child, or a wife.
eball Posted December 20, 2012 Posted December 20, 2012 Has Jeff Probst been notified? Nicely played sir.
jumbalaya Posted December 21, 2012 Posted December 21, 2012 The feds sent a hearty bah-humbug to participants and organizers of a large NFL survivor pool this week, according to emails obtained by The Linemakers on Sporting News. The alleged pool organizer sent an email to participants Wednesday, saying: “I had a nice little visit from the IRS tonight.... They have shut down the Pool and seized the money... There will be no payout this year and as of now, all money is in the hands of the Federal Government... I apologize for this but there is absolutely nothing I can do...” http://linemakers.sp...rs-seizes-money Time to set this up off-shore. Costa Rica or bust!
atlbillsfan1975 Posted December 21, 2012 Posted December 21, 2012 Still needs to be reported and taxes paid.... http://www.irs.gov/t...pics/tc419.html Side Note: I've recently started working at a NY Lottery run casino. Since the state is involved, if you win a jackpot, they check to see if you have any back taxes, court fees, etc before paying you what you won. The story I heard is one night someone won several thousand dollars on a slot machine. They run his ID and find he was behind on his child support payments. Which was news to the "girlfriend" that was with him that night, that didn't even know he had a child, or a wife. Exactly. If you claim the winnings and pay taxes on them then you are a lot less likely to get in big trouble. Not saying it is exactly legal, but if the government gets its money they will sometimes look the other way.
San Jose Bills Fan Posted December 21, 2012 Posted December 21, 2012 I may not, and often don't, have any idea what I'm talking about. However... This made me laugh.
BEAST MODE BABY! Posted December 21, 2012 Posted December 21, 2012 THought this was a pool in my area. Good thing it wasn't. That pool has 2700 entires...so if there's only one left, they get $270,000. Nice.
Recommended Posts