Is it illegal to send money overseas for someone to gamble with and share the profits?

I am in the US. I send money to a friend overseas where gambling is legal/regulated and they make wagers with it and I share a percentage of the profits. Is that illegal?

Public Comments

1. Well, i do not think so. However, it is a "sin" an the money that you make is being lost. the "friend" is really playing on you. I mean, come on, how much buxs you lost?
2. Only if you get caught.
3. It is done every day even though I think it is illegal. I know alot of Americans that place bets in Austarlia,
4. i dont see how it can be illegal as u are not betting in the place where it is illegal and u are not placing the bet yourself ....its not illegal to transfer money to someone elses account and your friend isnt breaking any laws if its not illegal to bet where he is
5. The simple answer to this question is DO YOU PAY TAXES ON THE MONEY? If not, it is. The US Government requires that you pay taxes on all capital gains, no matter what the amount. Enjoy the money, just remember the Patriot Act and that receiving money from foreign countries can be looked at alot of different ways.
6. if you don't pay the tax money then yes
7. There is absolutely nothing illegal in that since you are only sending him money and he is doing nothing illegal with that money, and he then send you money back.