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Message
re: LA House Appropriations Committee rejects sports betting
Posted on 5/28/19 at 2:34 pm to fallguy_1978
Posted on 5/28/19 at 2:34 pm to fallguy_1978
quote:
JBE has us up to #24 in total tax burden. What are we getting for this? 48-50th rankings in every category?
you think this kind of shite just changes overnight? there are decades and decades worth of decisions by ignorant, selfish and greedy people that led Louisiana to this point.
0
Posted on 5/28/19 at 2:36 pm to lsu13lsu
quote:
Yeah, you need to do some more research. Also, notice that all of the casinos in Baton Rouge started losing revenue and laying off employees after Mississippi started taking bets at casinos.
A single month uptick for a newly available form of gambling is not a reliable economic indicator. It's worth watching, but it's not (yet?) the pot of gold people want it to be.
Posted on 5/28/19 at 2:37 pm to SpeckledTiger
quote:
A single month uptick for a newly available form of gambling is not a reliable economic indicator. It's worth watching, but it's not (yet?) the pot of gold people want it to be.
it doesn't have to be a pot of gold, but letting people spend their money on what they want and making any money at all for the state seems to be a no-brainer.
Posted on 5/28/19 at 2:37 pm to BrianFlanagan
quote:
This went on a statewide ballot. People voted. Wasn’t a ton of hype around it, so it seems like the final vote counts were an actual representation of how people in this state feel about it. It was to be allowed in some parishes and not allowed in others.
That's for fantasy sports, which is somewhat different from sports betting at a book.
Posted on 5/28/19 at 2:37 pm to SpeckledTiger
quote:
A single month uptick for a newly available form of gambling is not a reliable economic indicator. It's worth watching, but it's not (yet?) the pot of gold people want it to be.
I believe L'Auberge is laying people off based on months of information.
Posted on 5/28/19 at 2:37 pm to Zach Lee To Amp Hill
fricking idiots. 
Posted on 5/28/19 at 2:38 pm to lsu13lsu
quote:
I believe L'Auberge is laying people off based on months of information.
I believe it's because they got bought out and the new company is putting their own people in the place
Posted on 5/28/19 at 2:39 pm to Zach Lee To Amp Hill
Mwhahaha
Posted on 5/28/19 at 2:40 pm to SpeckledTiger
quote:
where does the word "train" appear in the expenditure breakdown? personnel costs are everything from salary, related benefits, retirement, etc. Not "training".
This is fixable... directly charge the costs of enforcement to the sportsbooks, plus, charge a tax on their sportsbook revenue.
Anyways, if the state makes $1 net a year off of it, but it allows private companies another form of business, and it allows private citizens another form of entertainment, then it's worth it.
Posted on 5/28/19 at 2:41 pm to Zach Lee To Amp Hill
quote:
you think gambling revenue from sports betting are tax dollars?
You know gambling revenue is taxed, right?
Posted on 5/28/19 at 2:42 pm to SpeckledTiger
quote:
I'm just pointing out the minimal fiscal impact the proceeds would generate.
i think we can safely assume it would be a net positive fiscally but maybe not a game changer that are some are suggesting
regardless, this isnt about the money. this is about freedom. i fail to see how sports gaming is any different than buying a lotto ticket
Posted on 5/28/19 at 2:42 pm to LSUFanHouston
quote:
You know gambling revenue is taxed, right?
absolutely, but it's the casinos paying the taxes on their revenue so who cares? it's not like Johnny Gambler is paying taxes on his winnings if we're being honest. allowing sports betting isn't raising the tax burden on the common citizen.
This post was edited on 5/28/19 at 2:43 pm
Posted on 5/28/19 at 2:43 pm to LSUFanHouston
quote:
This is fixable... directly charge the costs of enforcement to the sportsbooks, plus, charge a tax on their sportsbook revenue.
Anyways, if the state makes $1 net a year off of it, but it allows private companies another form of business, and it allows private citizens another form of entertainment, then it's worth it.
I agree on both parts. Your first statement was an inherent flaw with the bill. It did not specify that the expenditures would come from the revenue collections. The entirety of the collection was to go to other purposes.
Posted on 5/28/19 at 2:43 pm to Zach Lee To Amp Hill
texas needs to go ahead and legalize casino gaming
This post was edited on 5/28/19 at 2:43 pm
Posted on 5/28/19 at 2:44 pm to Zach Lee To Amp Hill
quote:
absolutely, but it's the casinos paying the taxes on their revenue so who cares? it's not like Johnny Gambler is paying taxes on his winnings if we're being honest.
I think if the winnings are large enough they report/withhold them at the casino. I could be wrong on that. People get 1099s from gambling winnings all the time.
Posted on 5/28/19 at 2:45 pm to Zach Lee To Amp Hill
Who are these law makers?
Posted on 5/28/19 at 2:48 pm to Zach Lee To Amp Hill
quote:
it's not like Johnny Gambler is paying taxes on his winnings if we're being honest.
Depends on how much is made, casinos report winnings to the IRS
Posted on 5/28/19 at 2:49 pm to The Egg
quote:
texas needs to go ahead and legalize casino gaming
If Texas legalized casinos it would be done right and it would be like dropping bombs on Shreveport and Lake Charles. The entirety of Lake Charles casino area would look like that old parking garage.
Posted on 5/28/19 at 2:51 pm to Zach Lee To Amp Hill
quote:
it's not like Johnny Gambler is paying taxes on his winnings if we're being honest. allowing sports betting isn't raising the tax burden on the common citizen.
Wait, what? Gambling winnings are absolutely taxable (although gambling losses can be an itemized deduction). And above a certain amount of winnings, LA withholds tax at the point of payout, and is required to issue a 1099.
I agree with you that winnings below the 1099/withholding level aren't usually reported on a tax return by the gambler, if we are being honest.
Posted on 5/28/19 at 2:51 pm to lsu13lsu
that reminds me, it's a good topic of discussion
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