
sports-finance2.345 min read
"Chicago White Sox Stadium Funding: Balancing Taxpayer Concerns and Relevancy"
1 year ago•Source: Chicago Sun-Times
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A record 67.8 million Americans are expected to bet $23.1 billion on Super Bowl 58, with the IRS expecting a cut of any winnings. All winnings must be reported for tax purposes, and it may be possible to deduct losses, but only up to the amount of winnings. Professional gamblers face different tax rules, and currently, 38 states and Washington, D.C., have legal sports betting markets.