I have seen on these payperhead type sites (I generally bet sports with my guy) that they almost always have horses. I usually just bet at OTBs, but I was real miffed last time I went. Here's why:
Churchill for example on Derby Day
I bet huge on Tepin to place, and instead of making 10% on my wager (churchill tote) they took ANOTHER 5%
That's just a crazy example. In general, I play multirace wagers, but I'm thinking now, why should I go to an OTB and get 17-25% handle taken at the track, another 2-5% taken locally ... then if I hit a bomb, IRS city at INCOME for me or someone I know to cash it in the end?
Has anyone struggled with this con job?
I have a friend with a twin spires account, I figured I'd just sit at home, watch the races, and bet with REAL track odds, and NO TAX MAN at the end.
The only stipulation would be what the limits are of the particular PPH book regarding max payout per wager or per race/day. Anyone have thoughts on this? I'd like to post my books "rules" just so you guys might verify that I'm not doing something that they'll "fukk me" with after I win.