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Record $132.5 Million Bet on Super Bowl 50 in Nevada

Refund Management Services (www.RefundManagement.com), the number one choice for Canada’s biggest winners for U.S. gaming and casino tax refunds, comments on the record $132.5 million bet on Super Bowl 50 at Nevada casinos. Refund Management Services also reminds non-U.S. residents who visited Nevada and bet on Super Bowl 50 that their winnings are subject to a 30% withholding tax.

Gamblers at Nevada casinos wagered a record $132.5 million on Super Bowl 50. The upset win for the Denver Broncos over the Carolina Panthers gave sportsbooks their highest Super Bowl profit in two years. Unaudited figures show that the $13,314,539 wagered in Nevada’s 194 sportsbooks was up 11.0% over the previous high of a $119.4 million bet on Super Bowl XLVIII. (Source: “Super Bowl 50 Wagering,” Nevada Gaming Control Board, February 8, 2016; http://gaming.nv.gov/modules/showdocument.aspx?documentid=10849.)

“Super Bowl 50 was another spectacular event with the Denver Broncos upsetting the Carolina Panthers. That upset was also a windfall for Nevada casinos where sportsbooks kept a combined $13.3 million, or 10.1% of the action. This was more than four times greater than the $3.2 million casinos kept in 2015,” says Brooke Sacks, vice president of marketing & business development at Refund Management Services.

Sacks explains that those who visited Nevada and bet on Super Bowl 50 need to understand that their sportsbook winnings are considered income by the Internal Revenue Service (IRS) and, as a result, are subject to a 30% withholding tax. That being said, those who live in a country like Canada, which has signed a U.S. tax treaty, may be eligible for a refund.

“This doesn’t mean that those who won a substantial amount of money betting on the Super Bowl in Nevada have to leave that 30% withholding tax behind. As Canada’s most reliable and experienced gaming, casino, betting, and pari-mutuel tax refund providers, Refund Management Services can help non-U.S. residents recoup some or all of their withheld winnings,” Sacks adds. “The chartered accountants at RMS have successfully completed the most U.S. gaming tax refunds for Canadians and other non-U.S. residents and have never been refused an eligible refund.”

Some of the countries that do not have a U.S. tax treaty, but may still be eligible for a refund, include: Australia, Bahrain, Barbados, Brazil, China, India, Indonesia, Israel, Kuwait, Mexico, Malaysia, Monaco, New Zealand, Norway, Saudi Arabia, Singapore, South Korea, Switzerland, Taiwan, Thailand, and the U.A.E. However, based on a recent court case, winners from these countries may qualify for a refund if they meet certain criteria.

Founded and owned by a Canadian Chartered Accountant, Refund Management Services (RMS) is the most reputable casino and gaming tax recovery service in the industry. As registered agents of the IRS, RMS helps Canadians and other non-U.S. residents recover all or a portion of their taxes up to three years after their winnings have been withheld. With the expertise in gaming-related tax laws, RMS understands all the IRS requirements to ensure that any entitled refund is successfully recovered. RMS only gets paid for successful gambling tax refunds and is a member of the Better Business Bureau and the Las Vegas Chamber of Commerce. More information can be found at www.RefundManagement.com.