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The last year I bet online was 2015 I think and it was thru Twinspires. I bet a little under $200k that year and Twinspires showed I made about $10k profit. I had some bets that were reported to the IRS by Twinspires, but no one from .gov came knocking. I had made a few bets at Harveys in Tahoe and had some of those that were were reported as well.
I kept all the losing tickets from Harveys and I kept track of everything related to gambling: office space, internet, computers, software, data files, etc. I was ready to show them all my expenses if need be, but it never came to that. Not sure if I was just a small fish, or if there are certain things the computers look for.
I am just getting back into betting this year, and since I live in Reno now, I can no longer bet online unless it is thru a Nevada casino, so the casinos have all my data. It is hard to imagine any situation these days where you could make significant money gambling and the IRS would not know.
If you think the ADWs won't give the government anything they ask for, with or without a warrant you are foolish. Better safe than sorry.
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