Bets between friends -- Prop/Sports/Anything -- Legality?

[Mizzmazz]

Hi,

I've been curious lately about the law (U.S.)and how it applies to bets between friends or acquaintances.

Let's say I want to bet my buddy in private on an NFL game or a UFC mixed martial arts fight -- legally is this allowed?

Let's take it further.. if there was a 50-person fantasy football league with $200/head and some government agency or the police department got wind of it -- would it be legal or is this considered a layman's version of bookmaking and therefore illegal?

I'm not thinking of starting anything like this I was just always curious if it's okay to make bets between friends in private. I see people on these forums and other devices openly wagering on HU matches (see HSNL forum for instance) without hesitation.

Are there federal laws that apply to this or would it be state-based... or is it completely allowed unless you are some sort of organization?

Thanks

Mizzmazz

[Mizzmazz]

Also, apologies if this is the wrong forum for my post. Mods feel free to move it to another forum if necessary.

Thx

[MiltonFriedman]

... then you can make public bets on sporting events across State lines using telephones because it falls under the little known "good fun" exemption to Federal criminal prosecutions.

If you live in Nevada, you legally can call your casino and place a sports bet, because your telephone is different than the telephone of someone living in California.

Fantasy football is legal, if you are AOL or ESPN or the NFL, but illegal if you are not a really big US company, due to the "Really Big US Company" exemption from the Wire Act and the UIGEA.

[Skallagrim]

Milton's sarcasm is running a little high today, Mizzmazz. There is truth in his sarcasm, however....

The real answer to your question is covered by STATE law, and it varies from state to state.

Skallagrim

[ktulu22]

You are expected to pay taxes on your $10 friendly wager winnings, however