Does anyone know tax laws for sports arbitrage in Canada and the USA?
Hey- I was interested in getting into sports arbitrage, so does anyone know the tax laws for that in Canada and the USA? Is there a limit on how much one can make or be taxed on? Any advice, tips or contacts would be greatly appreciated. Sports betting is totally legal in Canada at least. I just made a bet on hockey last night at the lottery website. thanks so much everyone A: Sports betting -online at least- is illegal in the States, but the IRS has a place on your tax return to claim illegally made money, so if you choose to claim it, I guess you could. I think Canada is the same way the UK is and it’s tax free.
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