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"Sporting Pools" and FinCEN/SARS

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Some taverns/bars are involved in "Sporting Pools" aka: Football Pools, Office Pools, Super Bowl Pools, etc. Does FinCEN encourage SARs to be reported for a business involved in such activity? Gambling is not legal in my area.

If you choose to do so, unless you are talking about them going way overboard and you think thousands of dollars are involved ($5,000 trigger), just make sure you file the next time someone at the bank starts a super bowl square for $.25 a square, because there is no dollar limit for an insider.

First published on 02/07/2021

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