Quote from: Bigmike93 on June 30, 2015, 04:36:25 PM

Hello everyone.

I have a sports book that I use to be sports on daily. I live in NY and when I get a payout there's a new option for Bitcoin. Whatever you cash out from the sports book, $1000 being the maximum, they'll send to you the amount in Bitcoin to I guess your wallet address or whatever.

I did a little research and figured out that you'll need to use block chain to receive the Bitcoin, transfer to coin base, then sell it, then transfer to your bank account.

I make 600-1000$ a week on the betting, and would get 2-4.5 or so in Bitcoin a week.

Regarding taxes, how would I go about paying taxes if necessary? And how much would the taxes be?

Any and all advice would help

Thank you

Regarding taxes, an accountant from your country should be able to help.

Regarding cashing out, you do not necessarily need to use coinbase to sell your Bitcoins.
There are many exchanges but you can also use localbitcoins.com and sell your coins using a variety of payment methods.

Hope that helps