With the NFL season set to start on September 22, 2016, the top casinos in Las Vegas are getting geared up for another record season of sports betting. If you travel to the U.S. and win a significant amount of money betting on the NFL, college football games, or any other sporting event, your winnings could be subject to a 30% withholding tax by the IRS.
If you’re a non-U.S. resident and had 30% of your gaming winnings withheld by the IRS, you can reclaim a portion or all of your taxable winnings by using RMS. In fact, we’ve never been refused an eligible refund.
Estimated $90.0 Billion to Be Bet on Football Season
Despite all the betting that takes place in office pools and at Super Bowl parties, sports betting in the U.S. is confined to just four states with Nevada being the only state that allows full-fledged sporting betting.
It is estimated that more than $90.0 billion will be bet on professional and college football games this season—most of it illegally. According to the American Gaming Association, $88.0 billion will be through illegal channels.1
While the gambling industry has been pushing to have sports betting legalized throughout the United States, those who love to bet on professional and amateur sports need to travel to Nevada.
In 2015, Nevada sport books set a new annual record for the third year in a row with revenue rising 2.1% over 2014 to $231.8 million. The American appetite for sports betting continues to grow and, in 2016, sports betting is expected to reach another record milestone.2
To kick off the 2016/17 NFL season, we are listing the top sportsbooks in Las Vegas. If you’re in Sin city and want to get in on the action, here are some of the best places to visit.
Tops Sports Betting Spots in Las Vegas
The Mirage Race & Sports Book
You can spot The Mirage, one of the most popular casinos in Las Vegas, because it overlooks an erupting volcano. The Mirage, with its 100,000-square foot casino and 3,044-room Polynesian hotel also boasts one of the most popular race and sportsbooks in the city.3
The Mirage Race & Sports Book has an 85 inch, state-of-the-art high-definition (HD) projection screens, and five interactive tables where you can listen to any sporting event. If you like horseracing, you can watch the tracks with account-based individual player terminals with six big screens showing the best tracks from around the world.
If you don’t want to miss out on any of the action, you can reserve a VIP couch that comes with unlimited beer and cocktails.
The Venetian Race & Sports Book is open 24 hours and covers 10,000 square feet. The Venetian boasts the biggest screens on the Vegas Strip and has more than 100 personal betting stations. The 100-foot long HD video screen is capable of showing up to 34 games at a time. While the Venetian is one of the best free sportsbooks in Las Vegas, you may not get a seat during football season unless you’re a high roller. The best seats in the house are reserved for its best customers.4
Westgate Las Vegas SuperBook
If you’re looking for big, then look no further: Westgate Las Vegas SuperBook is the largest race and sportsbook in the world. Located in the Westgate Resort & Casino, the sportsbook underwent a major renovation that was completed in 2014.
Westgate covers an impressive 25,000 square feet with 4,48- square foot video screens (240 feet wide and 20 feet tall), more than 400 seats, and 19 wagering tables.5
Every NFL Sunday, the Westgate opens the 1,500-seat theatre and has all of the games playing on the huge HD screens.
U.S. Sports Betting Subject to 30% Withholding Tax
If you’re a non-U.S. resident and win a substantial amount of money betting on sports or at the casino, the IRS will withhold 30% of your winnings. In the United States, winnings that come from games of chance are considered income and subject to being taxed.
If you win $2,000 betting on the Seahawks, the casino will count out $1,400. If you win $1,200 on the slots, you’ll leave the casino with just $840.00! But, if you live in a country like Canada, which has signed a U.S. tax treaty, you may be eligible for a refund.
There are a number of countries that currently do not have a U.S. tax treaty. However, if you reside in any of the following countries, you 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.
To see if you meet the criteria and are eligible to get some or all of your withholding tax back, contact RMS.
RMS, the Easiest Way to Get Your Withheld Gaming Tax Back
If you’ve won a substantial amount of money at a casino, sportsbook, racetrack, lottery, or even gameshow and had 30% of your winnings withheld by the IRS, RMS can help you reclaim a portion or all of your taxable winnings.
Founded by a Canadian Chartered Accountant, RMS is the most reliable and experienced gaming and casino tax refund provider for non-U.S. residents.
Only RMS has the One Simple StepTM process. Our Customer Service Agents take care of the rest: processing and submitting it to the IRS. It can take a minimum of one year for the IRS to review the claim and for RMS to receive the refund. Best of all, we’ve never been refused an eligible refund.
1. “Football Bets To Top $90 Billion For Second Straight Season,” American Gaming Association, September 7, 2016; https://www.americangaming.org/newsroom/press-releasess/football-bets-top-90-billion-second-straight-season.
2. “Gaming Revenue Report,” Nevada Gaming Control Board, January 29, 2016; http://gaming.nv.gov/modules/showdocument.aspx?documentid=10810.
3. “The Mirage Race & Sports book,” The Mirage, last accessed September 22, 2016; https://www.mirage.com/en/casino/race-sports-book.html.
4. “The Venetian Race & Sports book, The Venetian, last accessed September 22, 2016; https://www.venetian.com/casino/race-and-sports-book.html.
5. “Westgate Las Vegas SuperBook,” Westgate Resort & Casino, last accessed September 22, 2016; https://www.westgatedestinations.com/nevada/las-vegas/westgate-las-vegas-hotel-casino/casino/race-sports-book.