Cashout from a online casino?

If you can cash the check then you're good to go. The UIGEA (Unlawful Internet Gambling Enforcement Act) is part of the 2006 SAFE port anti-terrorist bill and is not related to the 1961 Wire Act which prohibits wagering over phone lines (The Internet is leased from the phone companies). The UIGEA prohibits financial institution from dealing with foreign online gambling companies and US institutions have been slowly modifying their systems to comply. There's a good chance that the banking system hasn't adapted yet.

The US has also been extending US law extraterritorially and have gone after some of the intermediate check processing companies that the gambling companies use so sometimes one of the checks won't clear and you have to contact the gambling company to get another one through another check processing company.

Whatever you do, declare the income as gambling income, if you have records of your deposits, you can claim those against the income, otherwise, scavenge the local stores for losing scratchoff lottery tickets and claim the face value of those till you have no taxable gambling income. The IRS doesn't care if the money is illegal or not but if you don't report the income, you could be in trouble, you should always report your illegal income to the IRS as miscellaneous, in this case, report it as gambling so you can claim losing scratchoff tickets against it.

Eventually, the banks will comply fully with the UIGEA and you will have to somehow circumvent it, probably by maintaining an offshore account but such obfuscation opens you up to international anti-money laundering legislation. It may be that you'll have to keep your gambling finances and personal finances separate in the future. As with the $10,000 reporting limit, that's for anti-money laundering legislation so they won't be concerned about the UIGEA with that. Still it's a good idea to stay off their radar screens.

For the time being, try to cash out and if it doesn't cash out (it probably will), contact the gambling company and try again. You may have to establish an account with a smaller bank, perhaps a credit union. The sooner you withdraw, the more likely you are to succeed.

At this rate, the Nigerian scam may be known in the future as desperate American sport bettors trying to withdraw.

A couple of laws come into play here. The wire act and the Unlawful Internet Gambling Enforcement act (which mainly expands the wire act) forbids financial institutions from transmitting gambling funds. If you live in Washington state, gambling is further regulated and is a class c felony for the player. The main thing you should be concerned about is the magic deposit number of $10,000. Any deposit of that size or larger requires the banks to investigate the deposit, and possibly contact the IRS. However, people who make multiple deposits of just under 10k will draw unwanted attention from the banks/irs. If you understand the risks of avoiding taxation on this money and want to deposit it without getting caught, doing so in relatively small chunks over a long period of time would be safest. Theoretically, you could actually notify the IRS of the win (I don't recall the form number) but I have no idea whether they would let other law enforcement know about way you acquired your money. Sorry for the long winded explanation and good luck.

i believe sportsbook uses ewalletexpress. that makes it possible to do transactions without legal problems. there should be an 800 number on the website you can call to ask someone at sportsbook about cashing out that jackpot. they might break it up into smaller payments but you will still get the full sum. as for the taxes, i think sportsbook just pays the money to you and you deal with the tax part separately. maybe sportsbook will charge a fee of some sort. naturally, right? nice hit!

Just get it wired or have an e-check sent. All of these companies are pretty crafty getting around the U.S laws. The bank wires are not sent directly from the company, they are transferred to an intermediary bank that will take a fee. I would break it out in increments of $8k or $9k so that it does not get reported to the IRS. No way in hell would I pay taxes on that either. You are a chump if you do. The government did nothing to deserve that money so I would not give them a cent.

Congrats! Just cash out like $3,000 per month over the next 6 months. Don't get greedy and nobody will notice.

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just keep cashing out the check till you get all of it..lol

I'm not sure. Not a bad problem to have though. LOL!