Dive into the legal intricacies of sports betting with gaming law expert I Nelson Rose on this week's episode of Wise Kracks. Hosts Jon Orlando and Bill Krackomberger sit down with the renowned lawyer to unravel the complexities of betting laws in the United States. From navigating IRS regulations to understanding the Wire Act, Rose provides invaluable insights on how bettors can stay within legal boundaries while maximizing their gaming experiences. Whether you're curious about writing off betting losses on your taxes, providing betting advice, or betting across state lines, this episode is packed with essential information every bettor should know.

Learn about the legal nuances that govern the world of sports betting, get tips on avoiding common legal pitfalls, and enjoy engrossing stories from the forefront of gaming law. Whether you're a seasoned bettor or new to the scene, this episode offers a unique perspective on the intersection of law and gambling, ensuring you're well-informed and protected in your betting endeavors.

Timestamps:

00:00 Intro

04:00 I Nelson Rose

07:00 Gambling Taxes

11:00 Writing Off Gambling Losses

20:00 Beating Sportsbooks

24:00 Federal Gambling Laws

30:00 Arrested for Sharing Betting Info

36:16 Poker Winnings

40:00 Betting Off-Shore

44:00 Declaring Gambling Winnings

48:00 Erik Erickson 

52:00 Audits 

Tune in to Wise Kracks for a masterclass in gaming law, ensuring your betting activities are not just profitable but also legally sound.