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re: The new sports betting tax in the BBB could kill sports betting
Posted on 7/4/25 at 8:48 pm to Corinthians420
Posted on 7/4/25 at 8:48 pm to Corinthians420
When they put the ability to gamble in your pocket, I support. The access to gaming is higher than ever. Better to learn the stupid tax faster.
0
Posted on 7/4/25 at 8:49 pm to Corinthians420
Paying for Israel’s wars ain’t free baw
Posted on 7/4/25 at 9:56 pm to Corinthians420
I'm trying to care about this, but just can't bring myself to feel bad for gamblers. That shite has gotten out of control.
Posted on 7/4/25 at 10:20 pm to Corinthians420
Is this going to matter to you personally?
Posted on 7/4/25 at 10:24 pm to Corinthians420
Funny part about this is that IRS has been gutted there are very agents doing audits. I have had numerous accountant friends tell me many audits just went away because the agents on them left/were fired.
Posted on 7/4/25 at 10:38 pm to Corinthians420
These politicians are stupid.
How I see it:
They’ll allow gambling if you vote it in.
Once it gets going and the tax dollars start rolling in they decide they want more.
So they pass a bill to increase taxes on winnings. Now taxes start declining because less people are gambling.
So they pass another bill to take a bit more from each gambler.
So does the gambling money decline again?
How I see it:
They’ll allow gambling if you vote it in.
Once it gets going and the tax dollars start rolling in they decide they want more.
So they pass a bill to increase taxes on winnings. Now taxes start declining because less people are gambling.
So they pass another bill to take a bit more from each gambler.
So does the gambling money decline again?
This post was edited on 7/4/25 at 10:39 pm
Posted on 7/5/25 at 7:50 am to Corinthians420
quote:
funny that you think they'll realize the tax law changes and quit gambling rather than just magically end up owing $20k on top of their losses
Bet they quit after that first year.
Posted on 7/5/25 at 8:34 am to bbap
quote:honestly, thoughts on gambling aside, the tax implications of this don't make much sense at all
I'm trying to care about this, but just can't bring myself to feel bad for gamblers. That shite has gotten out of control.
Posted on 7/5/25 at 8:53 am to TheWalrus
quote:
Why is Vegas a winner? Isn’t this going to make people less likely to gamble?
Because you can make cash bets under 10k that arent reported
Its easy to track online gambling
Posted on 7/5/25 at 8:59 am to CSinLC
quote:
These politicians are stupid.
How I see it:
They’ll allow gambling if you vote it in.
Once it gets going and the tax dollars start rolling in they decide they want more.
So they pass a bill to increase taxes on winnings. Now taxes start declining because less people are gambling.
So they pass another bill to take a bit more from each gambler.
So does the gambling money decline again?
Yep. They seem to lack common sense.
Posted on 7/5/25 at 9:01 am to Corinthians420
Oh well. Sorry degenerates. Need to secure our borders
Posted on 7/5/25 at 9:03 am to Corinthians420
How is this any different from stock traders only being able to claim 3,000 in losses max each year? Stock traders have it even worse
Posted on 7/5/25 at 9:04 am to OWLFAN86
quote:We love our big govt daddy to look out for us don’t we small govt conservatives?
may be the best part of the bill the percentage of college age young men that are addicted to online gambling is absolutely insane
Posted on 7/5/25 at 9:08 am to Corinthians420
I don’t gamble so this won’t affect me directly, but I listen to plenty of sports podcasts and it seems like almost all of them are supported by gambling sites. Are we looking at a situation where only the biggest podcasts survive and the rest of them are screwed?
Posted on 7/5/25 at 9:09 am to lsupride87
quote:extinct.
small govt conservatives?
Posted on 7/5/25 at 9:20 am to TT9
TT9
To be fair, you’re not a small government conservative yourself.
To be fair, you’re not a small government conservative yourself.
Posted on 7/5/25 at 9:24 am to wildtigercat93
You mean sending years worth of money to Ukraine, right?
Posted on 7/5/25 at 9:29 am to Civildawg
quote:
How is this any different from stock traders only being able to claim 3,000 in losses max each year? Stock traders have it even worse
what? gamblers can't even deduct losses besides from their gambling winnings.
stock traders can deduct losses from their overall tax bill. Also stock traders can carry over losses for years. If you lose $50k gambling one year and win $50k the next year, you cant offset your winnings and owe taxes the 2nd year on the full 50k.
Also stock traders don't pay taxes on losing trades, only if they sell higher than they bought. The new gambling law makes it so you could lose $50k gambling and then owe taxes on top of losing money.
Stock traders have it much better.
This post was edited on 7/5/25 at 9:33 am
Posted on 7/5/25 at 9:32 am to Corinthians420
I wonder if they’ll come looking for that 50 bucks I won last year
Posted on 7/5/25 at 10:02 am to Corinthians420
This won’t affect all the losing gamblers on this board
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