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TwinSpires Frequently Asked Questions
How does tax filing and withholding work?
In accordance with all federal tax laws imposed by the Internal Revenue Service (IRS), any wager resulting in a $600.00 bonus will be reported to the IRS if the winning amount is at least 300 times the original wager amount. Any wager that results in a bonus in excess of $5,000.00 will need to be declared and withheld if the bonus amount is at least 300 times the original wager amount. In each case, the original wager amount shall include all wagers placed in a single pot and displayed in a single electronic record, which shall be aggregated and treated as a single wager for the purpose of determining the wager amount. When necessary, TwinSpires.com will report and withhold winnings.
What is the fair odds line?
A fair odds line equals an obstacle challenge and a math exercise. Let's say you're limiting an eight-horse field, and you've analyzed all the contenders to determine their likelihood.