No Deposit Bonus : SlotsLv casino currently is offering everyone a $22 no deposit bonus. New Players Only. Fully Cashable. USA and Canadian Players are welcome. Please see our SlotsLv review page for the no deposit bonus info. SlotsLv Review
Best USA Casino Bonus
Big Casino Bonus : All USA Players Welcome: Bovada Casino the #1 USA Online Casino offering all new signups a $3000 table game and slots bonus + weekly cash back. All new accounts qualify thru our link. No codes needed. For full bonus information please see our Bovada Bonus review.
Tax Court: Tournament Poker is Gambling, Not Sport
Citing a bit of wisdom from Kenny Rogers, the U.S. Tax Court ruled that tournament poker is gambling, not a sport, and thus not exempt from the Section 165(d) limitations of the tax code.
In a matter brought by George and Gloria Tschetschot of Cedar Rapids, Iowa, the couple argued that Gloria’s professional tournament poker playing was not gambling, and thus was not subject to limitations on losses from gambling.
The Internal Revenue Service had cited a deficiency in the couples’ joint federal income tax return for 2000 of just over $10,000, and assessed an accuracy-related penalty for the understatement of just over $2,014.
At trial, the Tschetschots conceded that George was not a professional gambler, but said that Gloria’s poker playing should not be classified as gambling due to the specific rules of the particular game of poker.
Unlike “live-action” poker, poker tournament participants cannot exit the game by cashing out partway through the tournament; the events are played until there is one player left with all of the chips and can last anywhere from days to weeks. The Tschetschots expanded on that point, providing a number of reasons for why tournament poker should be classified as "entertainment and professional sports" and not a wagering activity -- meaning that Gloria’s net losses (approximately $30,000) should be treated the same as those of any other professional sport participants.
But in its decision, the court noted that, similar to live-action poker, a player’s tournament success depends on a combination of both luck and skill -- a point cited by a British court that recently found poker to be a game of chance. And that’s where country crooner Kenny Rogers enters the picture.
“A player might have a decent hand, but as Kenny Rogers tells us in ‘The Gambler,’ he or she would still have to, ‘know when to hold ‘em, know when to fold ‘em, know when to walk away and know when to run,’ to actually be a success,” the court wrote in its response.
The Tschetschots did win one point however -- Gloria’s business expenses related to the professional gambling activity are deductible, though instead of being classified as Schedule C, “Profit or Loss from Business,” the court said they should fall under Schedule A, “Itemized Deductions,” but only to the extent of her winnings (about $11,000). The court returned the matter to the IRS and the couple to determine whether there was still a substantial understatement of income.
The full decision is available at www.ustaxcourt.gov/InOpHistoric/Tschetschot.TCM.WPD.pdf.
Danske Spil Bingo Moves to Microgaming -
The national lottery of Denmark, Danske Spil, is live on the Microgaming Bingo Network. Danske Spil, the Danish national lottery, is live on the Microgaming Bingo Network following a change to its licence conditions.
Quickfire live on Strendus -
Quickfire powered by Microgaming is extending its reach in the LatAm region with the signing of Strendus. Strendus is the online division of Logrand Entertainment Group. The group comprises several companies that operate gaming and entertainment establishments in Mexico, running 14 land-based casinos in total.
Quickfire content live on BetatHome -
Online gaming and sports betting company bet-at-home was founded in 1999. Today the company has 4.8 million registered customers around the world, offering sports betting, casino, live casino, Vegas games, poker and virtual sports.
Microgaming has donated £30,000 between four charities -
Gift of Giving provides Microgamingís customers the opportunity to vote for one of several charities in their region. In lieu of Christmas gifts, £30,000 is split equally between four global regions: Isle of Man, UK and Europe, Africa, and Rest of the World.
Entertainment Betting Odds: 90th Academy Awards -
The Shape of Water leads Sundayís 90th Academy Awards (8 PM ET, ABC) with 13 Oscar nominations, but when it comes to Best Picture, this highly-acclaimed film is a +140 second-favorite behind Three Billboards Outside Ebbing, Missouri at Ė115.
Fair Play Bets and QuickFire in Deal -
Fair Play Bets enjoys an unrivalled reputation for an outstanding player experience, with secure deposits and withdrawals, surprising casino bonuses and committed customer support. Fair Play Bets is licensed in UK, Malta and Curacao.
Cavaliers Aim to Take Down Wizards on 2/22/18 -
The Cleveland Cavaliers have looked like a different team since making their moves at the trade deadline. The Washington Wizards are up next for the Cavaliers, who will be at home after the All-Star break.
Please Note : Gambing might not be legal in your area. We bring you www.recentpoker.com as an information and gambling news site only. We hope that you find all the information and gambling news found in www.recentpoker.com to your liking. Please tell your friends about us and visit us again soon.