Toronto, Canada, June 30, 2016 – Refund Management Services (www.RefundManagement.com), the number one choice for Canada’s biggest winners for U.S. gaming and casino tax refunds, reacts to record Nevada’s sports betting handle as revenue on the Las Vegas Strip falls.
According to the Nevada Gaming Control Board, sports books set another monthly handle record in April, taking in $292.3 million in bets wagered on basketball, baseball, hockey, and other events. Casinos in Nevada have reported an increase in sports wagering in 32 of the last 36 months. Sports pools won $13.5 million from bettors in April, a 69% increase over April 2015. (Source: “Nevada Gaming Revenue Report,” gaming.nv.gov, May 27, 2016; http://gaming.nv.gov/modules/showdocument.aspx?documentid=11183.)
“With total casino wins for the month down 2.4% at $876 million, sports betting remains one of the bright spots in the Nevada gaming industry,” says Brooke Sacks, vice president of marketing and business development at Refund Management Services (RMS). “And sports betting continues to get more and more popular. In 2006, Las Vegas sports betting brought in around $2.7 billion. In 2010, it hit around $3 billion and by 2016, the sports betting handle is expected to top $5 billion.”
Sacks explains that Canadian and other non-U.S. residents who visit Nevada and bet on the Triple Crown, NBA Finals, Stanley Cup Final, Super Bowl, March Madness, or any other sporting event need to be aware that their sports book winnings are subject to a 30% withholding tax by the Internal Revenue Service (IRS). But those who live in a country like Canada, which has signed a U.S. tax treaty, may be eligible for a refund.
There are a number of countries that currently do not have a U.S. tax treaty. However, if residents in any of the following countries could still be eligible for a refund: 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.
“Refund Management Services is Canada’s most reliable and experienced sports book, gaming, casino, and pari-mutuel tax refund providers,” Sacks concludes. “Founded by a chartered accountant, RMS has successfully completed the most U.S. gaming tax refunds for Canadians and other non-U.S. residents and has never been refused an eligible refund. It can take a minimum of one year for the IRS to review the claim and for RMS to receive the refund.”
To find out how Refund Management Services can help with your U.S. gambling tax recovery, visit www.RefundManagement.com.
Founded and owned by a Canadian chartered accountant, Refund Management Services is the most reputable casino and gaming tax recovery service in the industry. As a registered agent of the IRS, Refund Management Services 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 expertise in gaming-related tax laws, RMS understands all the IRS requirements to ensure that any eligible refund is successfully recovered. RMS only gets paid for successful gambling tax refunds. RMS is a member of the Better Business Bureau and the Las Vegas Metro Chamber of Commerce.
Contact Refund Management Services toll free from the United States and Canada at 1-888-272-5559. Or e-mail RMS at [email protected].