Category Archives: Industry

New Tax Rules Benefitting U.S. Bettors Take Effect Today

Image credit: James Boyes

A new tax rule adopted by the IRS regarding its treatment of wagering activity will have a positive impact on horse racing bettors in the US beginning today. Yesterday, the IRS adopted a new rule in which all wagers placed into a single parimutuel pool and represented on a single ticket may be aggregated and treated as a single bet for withholding and reporting purposes. Continue reading