Where Can I Go For Greyhound Betting?
Dog racing is legal in 16 U.S. states. However, a disproportionate number of
dog racing tracks are located in Florida. The other states with legal
greyhound betting are Alabama, Massachusetts, Arkansas, New Hampshire, Arizona, Oregon, Colorado, Rhode Island, Connecticut, Texas, West Virginia, Iowa, Wisconsin, and Kansas. But Florida is the undisputed leader in
dog racing and its related
dog racing betting. Its number of tracks and its respective wagers on
greyhound betting are larger than all the other states combined.
Is Greyhound Racing Legal In Canada?
Greyhound racing itself is completely legal in Canada. However,
dog track betting is illegal. As such, all
dog racing in Canada must be done for strictly recreational purposes only. Many Canadian (and overseas) fans of
greyhound racing venture to the US for
dog track betting.
Betting On Greyhounds - Where Do Greyhound Racing Fans Go?
It sounds like a silly question, but many people are unaware of
greyhound betting locales. Most people
betting on greyhounds would naturally head to the closest
dog racing tracks. These racetracks not only have their own dog races, but also simulcast the other
dog racing tracks' races. Just like horse racing wagering, US
greyhound racing tracks utilize pari-mutuel betting.
The IRS And Dog Racing Winnings
If you win big at
dog racing betting, you will be taxed at 30% of your
dog racing winnings. Withholding taxes for
greyhound betting are levied in the exact same way as the withholding taxes for horse racing.
Dog racing winnings are taxed at 30% if the following conditions are satisfied:
- The dog racing wager wins $600.00 USD above the original bet; and
- The dog racing winnings are 300 times the original wager.
For example, if you engage in
dog racing betting and wager $3.00 USD on a 300:1 long shot, you will receive $900.00 USD, but be immediately taxed $270.00 USD (30% of $900.00 USD).
Conversely, if you wager $300.00 USD on a 3:1 greyhound and subsequently win $900.00 USD in
dog racing winnings, you will not be assessed any U.S. taxes, as the winning bet was below the 300:1 ratio.
Similarly, someone wagering $1.00 USD on a 500:1 ultra long shot will not be assessed any
taxes on dog racing winnings, as the total payoff was less than $600.00 USD above the original bet.
Generally speaking,
dog racing winnings that do not conform to both of the above outlined criteria are not taxed by the US government. However, some Indian tribal greyhound tracks in the United States may assess the 30%
betting tax on all
dog racing winnings (without the need to meet a specified threshold or ratio) for US non-residents.
Dog Racing Taxes & The Need To Keep Proper Records For A Tax Refund
Unfortunately, like many other forms of gambling in the United States, withholding tax may be levied when you are
betting on greyhounds. Luckily, gambling losses in the US (of any sort) in the same taxation year are deductible against your
dog racing winnings. Many dog race winners receive a full refund on their dog track betting taxes. Even if your combined gambling losses are not as high as your taxes from
betting on greyhounds, you could be eligible for a partial refund. You may be asked to justify your gambling losses by the IRS. Thus, you should always keep a record of your gambling winnings and losses while in the United States. Remember to keep any old U.S. lottery tickets, betting stubs, and any materials related to your gambling activity.
How U.S. Gambling Refund ™ Can Help Redeem The Tax On Your Greyhound Winnings
U.S. Gambling Refund ™ is a Certifying Acceptance Agent of the US government. As such, we can act on your behalf when dealing with the IRS and its very complicated tax refund system. U.S. Gambling Refund ™ and its professional employees have many aggregate years of experience with both the Canadian and American tax departments. As such, we ensure the most efficient and thorough recovery of your
taxes on dog racing winnings.
If you are a
dog racing betting winner in the U.S. or simply want more information, contact us now to see how we can help you get back your 30% withheld
dog racing winnings!
