Thinking of placing a bet...

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I have never placed a bet in a casino but thinking about doing so for the mega fight. I'm thinking of betting on a knockout, however, I'm not sure how it works exactly. Can someone explain to me how the pay out works and if taxes are deducted? Anyone recommend a certain casino to bet?

[TheGR8TESTOAT]

I have never placed a bet in a casino but thinking about doing so for the mega fight. I'm thinking of betting on a knockout, however, I'm not sure how it works exactly. Can someone explain to me how the pay out works and if taxes are deducted? Anyone recommend a certain casino to bet?

Each fighter has odds from round 1 to 12 for each round there's an odd like 10 to 1 or 20 to 1. Which means for every $100 you multiple that by the odds.

So lets say round 1 is 10 to 1 for Pacquiao then you 100X10= you win $1000

Each state is different and the casino may very but when I asked how much I would need to win to report it for taxes the casino told me there is no limit. I think legally depending on which state you file taxes though you are supposed to report significant gambling winnings most do not though.

But if your all of a sudden deposting $15,000 into your checking account out of no where the IRS might question that.

[TheGR8TESTOAT]

I have never placed a bet in a casino but thinking about doing so for the mega fight. I'm thinking of betting on a knockout, however, I'm not sure how it works exactly. Can someone explain to me how the pay out works and if taxes are deducted? Anyone recommend a certain casino to bet?

Your profile says you live in Vegas so what I would do if I was you I'd bet at the Venetian Casino. They tend to have better odds than the other casinos.

All the MGM properties have the same odds so don't both going to any of those to compare each other.

Most casinos require you obtain your winnings before 11PM especially if you win over $3,000.00

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Your profile says you live in Vegas so what I would do if I was you I'd bet at the Venetian Casino. They tend to have better odds than the other casinos.

All the MGM properties have the same odds so don't both going to any of those to compare each other.

Most casinos require you obtain your winnings before 11PM especially if you win over $3,000.00

Yeah I do live in Vegas but I have never gambled a penny in the 11 years that I have been here lol. I'll take your word for it and try placing my bet at the Venetian. Thanks for clearing it up for me.

[TheGR8TESTOAT]

Yeah I do live in Vegas but I have never gambled a penny in the 11 years that I have been here lol. I'll take your word for it and try placing my bet at the Venetian. Thanks for clearing it up for me.

How much do you plan on betting?

Just remember the larger the odds means the more money you'll make if the KO happens for the exact round and right fighter of course you are betting on. The higher the odd means most people feel a KO is most unlikely to happen in that round for that fighter.

Another option for you to do is to spread out money for several rounds which would obviously increase your chances of winning since you are covering more ground that way.

The problem of course is if the fight goes the distance then you lose and if theres a ko not in the round for the fighter you selected then you lose.

When Vitali Klitschko was KOing everyone I would spread money on every round for him on his fights. Then all of sudden he started going the distance in his fights so I stopped betting lol