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Posted on 7/4/25 at 6:50 pm to SeeeeK
Posted on 7/4/25 at 6:52 pm to Corinthians420
quote:
The “Big Beautiful Bill” could wreck sports betting
This post was edited on 7/4/25 at 6:54 pm
Posted on 7/4/25 at 7:16 pm to Corinthians420
Holy Santa Claus shite. They always get theirs.
Posted on 7/4/25 at 7:25 pm to Corinthians420
Sports bettors are simply picking up part of the tab of owning the liberals. This is nothing in the big scheme of things, while owning the liberals is priceless
edit: look at all the soycucks downvoting me lol!
edit: look at all the soycucks downvoting me lol!
This post was edited on 7/5/25 at 12:45 am
Posted on 7/4/25 at 7:29 pm to Corinthians420
Looks like Vegas is gonna be the winner out of this
Posted on 7/4/25 at 7:32 pm to Corinthians420
Illegal bookies coming back around like it’s 2010.
Posted on 7/4/25 at 7:34 pm to SDVTiger
Why is Vegas a winner? Isn’t this going to make people less likely to gamble?
Posted on 7/4/25 at 7:39 pm to Corinthians420
It's a shitty component of a shitty bill, but the number of gamblers this would affect is vanishingly small.
Fun fact: in a lot of countries gambling winnings aren't taxed at all, on the premise that you're gambling with money you already paid taxes on.
Fun fact: in a lot of countries gambling winnings aren't taxed at all, on the premise that you're gambling with money you already paid taxes on.
This post was edited on 7/4/25 at 7:44 pm
Posted on 7/4/25 at 7:42 pm to Corinthians420
quote:
Whoever passed this bill has no concept of how anything works.
Fixed it for you.
Posted on 7/4/25 at 7:46 pm to Jim Rockford
quote:
the number of gamblers this would affect is vanishingly small.
How do you figure that? Louisiana alone had $3 billion in wagers last year.
Lets assume they won half and lost half for simplicity
$1.5 billion won.
$1.5 billion lost x 90% = $1.35 billion deducted.
Thats a $150 million tax increase on Louisiana citizens.
This post was edited on 7/4/25 at 7:47 pm
Posted on 7/4/25 at 7:56 pm to Corinthians420
It takes a set of very specific circumstances to trigger a W2G. Most people don't report their winnings. If you did decide to report your winnings/losses you'd have to have more than the standard deduction to make it worthwhile-you have to itemize to deduct your losses. That's always been the case. It's not new to this bill.
Again, it's a stupid provision but unless you're a pro it probably won't affect you.
Again, it's a stupid provision but unless you're a pro it probably won't affect you.
This post was edited on 7/4/25 at 7:58 pm
Posted on 7/4/25 at 7:58 pm to Corinthians420
A great bill from our great American President! 
Posted on 7/4/25 at 8:01 pm to Jim Rockford
if you don't think the government is gonna try to collect billions in revenue and are just gonna let everyone slide if they don't report then I think you are pretty naive.
the reason they don't bother most people with it now is the average gambler loses. Now even if you lose you still owe them as long as you don't lose more than 10% more than your winnings.
Even if they DON'T hassle anyone that doesn't report immediately you will still owe thousands of dollars that they can hold over your head any time they want. It isn't like there is a statute of limitations.
the reason they don't bother most people with it now is the average gambler loses. Now even if you lose you still owe them as long as you don't lose more than 10% more than your winnings.
Even if they DON'T hassle anyone that doesn't report immediately you will still owe thousands of dollars that they can hold over your head any time they want. It isn't like there is a statute of limitations.
This post was edited on 7/4/25 at 8:03 pm
Posted on 7/4/25 at 8:11 pm to Corinthians420
Do you think gamblers should have better tax rules than stock traders?
Posted on 7/4/25 at 8:12 pm to Oizers
since when have stock traders paid taxes on losing/break even stock trades?
This post was edited on 7/4/25 at 8:16 pm
Posted on 7/4/25 at 8:13 pm to Corinthians420
Honestly, I don’t care. Sports gambling has become a monster, and it’s sucking people down with it. If it means I can go to a game and not hear about someone’s parlay, I’m ok with it 
Posted on 7/4/25 at 8:22 pm to Corinthians420
quote:
The new sports betting tax in the BBB has killed sports betting
Posted on 7/4/25 at 8:26 pm to MemphisGuy
And... Some of us dont think we need more taxes on money that we already paid taxes on
Posted on 7/4/25 at 8:42 pm to Corinthians420
Bookies say, come on over, we don't report
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