AmWager Implements New Tax Reporting/Withholding Rules

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PROSPECT , KENTUCKY, USA, September 28, 2017 /EINPresswire.com/ -- AmWager.com, the industry’s most sophisticated online wagering platform, has implemented the updated IRS tax regulations concerning the withholding and reporting of pari-mutuel winnings beginning on Thursday, September 28th. The new regulations are a major benefit for both customers and our racing industry, and AmWager is among the first advanced deposit wagering (ADW) companies to offer horseplayers the new advantageous rules.

The new tax rules take into consideration the entire amount wagered on a single pool versus only the amount wagered on the winning result. The regulation requiring winnings to be 300 times the wager before they are reported or taxes are withheld will remain the same, effectively allowing players to keep more of their winnings.

AmWager’s state-of-the-art wagering platform has allowed customers to begin wagering under the new tax rules on the first day possible, ensuring they are able to keep the maximum amount of their proceeds.

“Our dedication to providing the best features and environment for success made the swift implementation of the updated tax regulations a priority. We appreciate the prompt effort made by our partner, United Tote, which enabled our timely release of this update. We are also grateful for the NTRA’s unyielding effort that brought about this positive change for our industry,” said AmWager CEO, Nelson Clemmens.

Take advantage of the new tax rules with AmWager! Watch and bet races from your favorite tracks in the US and abroad, using our exclusive features while earning daily cash rewards. www.amwager.com


For specific questions about AmWager features, contact member services: 1-877-767-4445

About AmWager.com:
AmWager.com is operated by AmWest Entertainment, LLC, a diversified simulcast service, technology and account wagering provider that enjoys supportive relationships with racetracks and racing organizations worldwide. Our teams’ continued involvement in Thoroughbred racing and breeding, and our ongoing commitment to many state, national and international initiatives, are major determinants in how the company conducts business, utilizing transparency and best practices.

Marisa Richardson
AmWager.com
502-292-6570
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