Refund Management Services (www.RefundManagement.com), Canada’s leading U.S. gaming tax recovery service, is weighing in on the record attendance at the first two stages of the Triple Crown and American Pharoah’s wins.
This year’s Kentucky Derby posted a new attendance record of 170,153, beating the 2012 attendance record by three percent. The 141st Kentucky Derby also set a record for the overall amount bet on the card, totalling $194.3 million—a four percent increase over the 2012 record of $187.0 million. (Source: “2015 Kentucky Derby Sets Attendance, Betting Records,” Benzinga web site, May 4, 2015; www.benzinga.com/news/15/05/5474240/2015-kentucky-derby-sets-attendance-betting-records.)
The Preakness Stakes, which took place exactly two weeks after the Kentucky Derby on May 16, also reported record attendance; over 131,600 fans attended the Preakness Stakes—a 6.5% increase over 2014’s mark of 123,469. The Pimlico Race Course also set a new mark for total Preakness Day handle at $85.1 million. (Source: “Record attendance, handle on Preakness Day,” Courier Journal web site, May 16, 2015; www.courier-journal.com/story/sports/horses/triple/preakness/2015/05/16/preakness-2015–record-attendance-handle–pimlico–saturday/27465555/.)
“American Pharoah won the Kentucky Derby in a tight finish and the Preakness Stakes by seven lengths earlier this month, so he is the clear favourite heading into the Belmont Stakes,” says Brooke Sacks, vice president of marketing and business development at Refund Management Services.
Sacks explains that American Pharoah could be the first Triple Crown winner since Affirmed won in 1978, so this sets momentum for the Belmont Stakes, the third race of the Triple Crown which takes place on Saturday, June 6, 2015. With the Triple Crown on the line, Belmont can expect both a huge crowd and possible record wagering.
“The tax refund experts at Refund Management Services understand that many people travel to the United States to watch the three stages of the Triple Crown,” Sacks adds. “It’s important for those who attend the races to know U.S. law stipulates that substantial gambling winnings, usually over $1,200 from pari-mutuel winnings, are subject to a 30% withholding tax.”
“Unfortunately, many believe there is no way for them to get that withholding tax back. As Canada’s most reliable and experienced pari-mutuel, gaming, and casino tax refund specialists, Refund Management Services wants to remind Canadians and other qualified non-U.S. residents that they can recoup some or all of their winnings,” Sacks concludes.
Founded and owned by a Canadian Chartered Accountant, Refund Management Services is the most reputable casino and gaming tax recovery service in the industry. The only tax recovery firm with the One Simple StepTM process, their agents will take care of the rest. To find out more about how RMS can help with U.S. gambling tax recovery and One Simple StepTM, visit http://www.RefundManagement.com.