marchmadnessMarch Madness is underway and NCAA brackets are ubiquitous in offices across the country. It’s a tradition, it’s fun and it builds comradery. But is it legal? The answer – big surprise here – it depends.

Different states have different laws regarding the legality of workplace sports betting. Many companies also have corporate policies governing intraoffice gambling. In 2009 Fidelity fired four employees for participating in an office fantasy football league. Federal government employees are prohibited from any type of workplace gambling.

 

Gentlemen’s Takeaway:

·         Check your local laws to see how workplace betting is treated in your state

·         Check with your HR department prior to starting your pool to make sure you comply with company policies

·         And remember that gambling winnings are taxable income and should technically be reported on your form 1040

Sorry to ruin to your fun, but a gentleman should always be informed!

 

#Disclaimer: All comments, opinions, and general ramblings are my own and are not associated with my employer in any way. And of course, because I am not your lawyer, posts do not constitute legal advice.

 

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