Sports Pool In The Office Okay? Don't Bet On It

Think twice before letting your employees set up a betting pool.

Your employees have set up a pool for a sports event, and youlook the other way-or maybe even chip in a few bucks. After all,the betting pool isn't affecting anyone's jobperformance.

But if you think this is harmless fun, think again. Sportsbetting is illegal in the United States. The only way you can placea legal bet is to do so with a licensed agent in the state ofNevada, says Paul Bresson of the FBI.

Of course, tossing a few dollars into a weekly football poolwon't put you on the FBI's Most Wanted List. Gambling lawviolations are handled by local authorities, who typicallydon't pay much attention to office betting pools.

But just because you aren't likely to be arresteddoesn't mean it's a good idea for any business owner tocondone breaking the law. Set a good example by establishing andenforcing an anti-gambling policy. And Bresson points out one morething: All income, from sources that are legal or otherwise, mustbe reported to the IRS.

Related Topics

Editor's Pick

This 61-Year-Old Grandma Who Made $35,000 in the Medical Field Now Earns 7 Figures in Retirement
A 'Quiet Promotion' Will Cost You a Lot — Use This Expert's 4-Step Strategy to Avoid It
3 Red Flags on Your LinkedIn Profile That Scare Clients Away
'Everyone Is Freaking Out.' What's Going On With Silicon Valley Bank? Federal Government Takes Control.

How to Detect a Liar in Seconds Using Nonverbal Communication

There are many ways to understand if someone is not honest with you. The following signs do not even require words and are all nonverbal queues.

Business News

New Mexico Is Hiring Professional Bear Huggers -- Here's How to Land the Dream Job

The American Black Bear was selected as the state's official animal on February 8, 1963, by the New Mexico Legislature.


Having Trouble Focusing? Here's How to Become Unstoppable in Your Performance

Here are a few tips on how to improve your focus, discipline and ability to complete projects.

Business News

'Invest In That Future Now Before It's Too Late': Bill Gates Calls For Global Pandemic Response Team In Op-Ed

In the same month that the World Health Organization called the coronavirus a pandemic three years ago, billionaire Bill Gates reiterated his call for a "fire department for pandemics."


Pros And Cons Of Leadership Coaching: Is It Right For You Or Your Company?

Leadership coaching can work really well in some cases and not so well in others. It all depends on a few factors and if your company is ready to make the leap.

Business News

Carnival Cruise Wants Passengers to Have Fun in the Sun — But Do This, and You'll Get Burned With a New $500 Fee

The cruise line's updated contract follows a spate of unruly guest behavior across the tourism industry.