IRS Issues Warning to Sports Bettors About Offshore and Unregulated Betting Risks
As legal sports betting has grown across the U.S., federal authorities have increasingly turned their attention to the risks faced by everyday bettors — especially when it comes to unregulated or offshore sportsbooks. In a recent advisory, the Internal Revenue Service cautioned sports enthusiasts to prefer licensed, regulated sportsbooks over offshore or unregulated platforms, citing heightened risks of fraud, while also reminding bettors of their obligation to pay tax on … Read more