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Targeting Gambling Winnings

Land gambling in the United States just got a little harder for gamblers who owe money to the government or perhaps to an ex-spouse. Because land gambling is highly regulated in the U.S. (as opposed to the unregulated online casino gambling industry), some states are now looking at gambling winnings as a valid form of payment for anything from back taxes to child support and alimony. The two states with new gambling laws, Iowa and Colorado, are just the first of what could become a national trend. And while there are certainly opponents to any form of government control that regulates your behavior and money to such a high degree, it seems that the individual state governments have concluded that the benefits far outweigh the cons.

Gambling at the online casinos and hitting a huge jackpot is still safe for Iowa – but hit that same $10,000¬+ jackpot at the land casino gambling venues, and the government may use those winnings to pay back delinquent and unpaid taxes. Iowa is currently the first and only state to have such controversial legislation in place, but considering the amount of tax evasion in the country, it could become increasingly popular in states that have legalized forms of slots and casino gambling.

In Colorado, you may be safe from the seizure of your winnings to pay back taxes, but your ex-spouse and children may just get a cut of the jackpot. Same as in Iowa, online casinos are unregulated and therefore internet winnings are safe – land winnings though can be held if they exceed a mere $1,200 from the slots, or winnings of more he $600 from horserace gambling.

The moral of the story just might be to head to the online casinos – with new government regulations coming down on the land gambling industry, internet gambling is still a safe venue for taking home some winnings – and keeping them. Naturally though, given the nature of the current unregulated online gambling market U.S. gamblers should thoroughly investigate new sites before depositing money into player accounts.