Thanks....can you deduct losses against winnings? I believe you can. And, if so, almost impossible to track. Finally, I know tons of people that claim they won, but under further discussion, you find that (over time) they've really lost. I mean, they didn't build the Bellagio or Cosmo (et all) because the casinos were bleeding cash.
Tax the bet, then tax the winnings, then tax the bet + the winnings, then apply a transaction fee, a license fee, and of course a $5 fee to help problem, degenerate gamblers.
Thanks....can you deduct losses against winnings? I believe you can. And, if so, almost impossible to track. Finally, I know tons of people that claim they won, but under further discussion, you find that (over time) they've really lost. I mean, they didn't build the Bellagio or Cosmo (et all) because the casinos were bleeding cash.
Thanks....can you deduct losses against winnings? I believe you can. And, if so, almost impossible to track. Finally, I know tons of people that claim they won, but under further discussion, you find that (over time) they've really lost. I mean, they didn't build the Bellagio or Cosmo (et all) because the casinos were bleeding cash.
You can bet a lot of politicians are adjusting their portfolios today. Draft Kings and the like were backed by a lot of NFL owners (jones and Kraft to name two) and insiders.
Bingo!
It’s called freedom and responsibility. Also, do you really think that sports gambling isn’t happening today?So we are free to develop a gambling problem and shatter our lives and those of our loved ones?
Cut the crap and just watch the games. ACTION.
Agree....the problem is, like obesity or smoking, those who do not participate end up taking some level of consequence. Fact is, state govts will make a ton of money. Are they going to funnel that back into programs to help those inflicted? I doubt it....look for your taxes to go up.
I always get a kick out of people stating that they are "physically conservative but socially progressive" without ever connecting the dots that one affects the other. I always think "well wouldn't that be nice!?" I can eat candy all day and not get fat! If there were only unicorns that crapped rainbows.
Why do you need a sports book? Why won't I be able to take PSU -32 vs. sPitt at my local Publix or Wawa (where they sell a lot of lottery tickets)?
fair enough. In my mind, there is a responsibility with freedom. You are free to drink a case of beer a day...but at some point, you are likely to need a liver transplant (an example for one of 100 different ailments that you won't be able to pay for and will drain resources at the govt level, insurance, and medical). there IS a price to be paid for freedom of choice. And the more freedoms you give, the higher the price. There is a reason for the food and drug admin, among others.
I'm curious how it will affect withdrawals and deposits via US banks.
Very doubtful, as granting the states the ability to control their betting is independent of the Fed’s governance of using US banks to fund gambling transactions. Though with the ease of Bitcoin, I’m not sure how often I’d use checks even if I could.
I've only used bitcoin to transfer between offshore accounts. Is it pretty simple to convert bitcoin to cash and deposit in a bank acct?
I believe any withdrawal, of winnings, will be taxable. I think moving money to offshore accounts is the same as moving the money to any offshore bank or entity. If you move the money via a US Bank, THEY will report it to Uncle Sam. (actually, all banks are required to report international money movement be they US or no-US banks).
, I won’t 
