Underreported taxes on bettors’ gambling winnings leaves IRS $1.4 billion short
Sports Game · 2024-10-05
Underreported taxes on bettors’ gambling winnings leaves IRS $1.4 billion short
While the broad legalization of sports betting has meant big wins for plenty of fans, the biggest losers could soon be coming for their share of the pie.
Of course, that’s not the operators, who are reported to have made more than $11 billion in 2023, but rather, the IRS, who according to a new report left roughly $1.4 billion on the table between 2018 and 2020, as cited by Bloomberg.
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