Have you heard of Federal tax or Federal gambling law? Is it true that bookie have to purchase license? Among my friend circle I heard about it, but could not get much information anyone provide me the more information on this matter will appreciate.

To get any sort of answers to your questions you need to tell us which country you are in!

(Not that I can answer anyway, but Webzcas probably can! )

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Let me tell you one thing friend you have to pay taxes if you are earning profits. As far as I know in federal gambling law a bookie is required to purchase a $50 license stamp annually and pay 10% of his gross handle as a Federal tax changed.
For accurate and exact information concerned your lawyer.
Hope it will help you.

10% tax is highly unrealistic............................

Advin - Just a friendly warning. You are new to the board. It is not acceptable to slip in contextual links here and there and everywhere.

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It is also against the forum rules to have multiple accounts.

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