John,

you wrote:

"Also, in one scenario, the IRS immediately withholds 12k of a 48k take. You lawfully report it later, perhaps to have some or all of it refunded to you. In another scenario, a bettor takes the entire 48k home with him, puts it in the bank, gets interest on it, and lawfully reports the episode later to the IRS. Which scenario is better?"

again, the IRS knows if you go to the window multiple times to collect on a signer. you can check "no" in the "do you have duplicate wagers" box, but the IRS system matches these things up. you will take the 48g home with you, put it in the bank, collect the interest, get a notice in the mail from the IRS, then wind up paying the interest right back to the fed (at a higher rate no doubt). you might also face penalties.

if you are going to cheat, well, you shouldn't be going to the window yourself at all.

when it comes to amounts around the $600 lvl, it's a different story, as you say. if it's a $400 payoff for a buck, you don't want to be holding a $2 ticket. i usually try to bet in the smallest possible increment for just this reason.





Edited 2 time(s). Last edit at 07/11/2006 12:41PM by Michael D..