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Started By
Message
re: BBB may hurt public gambling
Posted on 7/2/25 at 10:44 am to deltaland
Posted on 7/2/25 at 10:44 am to deltaland
Guess its back to offshore bookmaker for me this football season. Never had a problem with payouts but their offerings are a bit paltry compared to Draftkings
This post was edited on 7/2/25 at 10:45 am
0
Posted on 7/2/25 at 11:29 am to Schleynole
How about they just increase the W2G limit from 1,200 to 5,000, and create a flat tax on all winnings above the new W2G threshold, and get rid of the deductablity of gambling losses.
Mississippi has a tax like this for 3% of all winnings above the W2G threshold. As part of your Mississippi state return, you cannot file to get it back even if you don't owe state tax at the end of the year.
Mississippi has a tax like this for 3% of all winnings above the W2G threshold. As part of your Mississippi state return, you cannot file to get it back even if you don't owe state tax at the end of the year.
This post was edited on 7/2/25 at 11:31 am
Posted on 7/2/25 at 11:36 am to StPeteLSU
quote:
StPeteLSU
Will be looking for you around Derby time next year friend!!
Posted on 7/2/25 at 11:40 am to Hayekian serf
quote:
Porn is a cancer and while I don’t think it should be banned, it needs to be legally limited and publicly discouraged outside of government.
Gambling will occur legal or not and trying to suppress or stop it is silly and anti-American. However not all gambling is the same. Horse handicapping is my part time job and it’s a lot of work. I’d estimate 10 to 15 hours a week handicapping cards to maybe find a handful of races that warrant a wager. It’s a lot of math and spreadsheet building. That being said I love every second of it.
It's funny that some people believe they have the right to choose which liberties others are allowed to have/use.
Because making judgements for yourself just isn't enough power for you, you need to push your world view on everyone else.
Posted on 7/2/25 at 11:41 am to Tarps99
quote:
How about they just increase the W2G limit from 1,200 to 5,000, and create a flat tax on all winnings above the new W2G threshold, and get rid of the deductablity of gambling losses.
Mississippi has a tax like this for 3% of all winnings above the W2G threshold. As part of your Mississippi state return, you cannot file to get it back even if you don't owe state tax at the end of the year.
How about taxes are theft and shouldn't exist in the first place.
Posted on 7/2/25 at 12:21 pm to Schleynole
Most people could give a shite about this. Goddamn degenerates.
Posted on 7/2/25 at 8:45 pm to deltaland
quote:
If you’re in the lowest tax bracket and have risked 100k gambling in a year you have a major problem.
The $100k is progressive
If you play something with close to even odds you can spend thousands and end up even. You e wagered a ton but haven't won (or lost) much. This rule absolutely fricks that player up
Posted on 7/2/25 at 9:37 pm to SlowFlowPro
quote:
It makes little sense to tax the people who are good at gambling, because it just opens the field to being dominated more by degens, which is worse for the degens in the long run. At least in poker their economy is among the players, but this is going to have the house win more and take more from these degens.
It will make no difference at all. “Degens” are not considering tax policy while exhibiting “degen” behavior.
And even being able to deduct the loss has interaction currently with your ability to itemize and the floors currently in place. And hey, you can deduct your itemized deductions that didn’t otherwise go over the standard deduction now.
On the other hand, this bill increases the 1099 threshold to report income. So you can win more without having to face this calculation
This post was edited on 7/2/25 at 9:49 pm
Posted on 7/8/25 at 11:19 am to Schleynole
Sen Dina Titus(D) stepping up with common sense for the Gamblers
I'm Republican, but Mike Crappy Crapo can EABOD.
I'm Republican, but Mike Crappy Crapo can EABOD.
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