Pa approves sports wagering

Snowball · 10-30-17, 09:53 PM

time will tell

vegas not well at all.

east coast sick of having to go there.

jjgold · 10-30-17, 10:02 PM

Who the heck wants to go drive somewhere to make a sports wager it’s absolutely ridiculous and if you when you have to drive back just the money in gas is terrible

StackinGreen · 10-30-17, 10:07 PM

Originally posted by Thor4140

Now we just need the law to pass. Oh and there is a 36 percent tax on the revenue and a ten million dollar licensing fee. Not even worth doing it.

This is called pulling a "horse racing" except there are NO costs to put the product on, except electricity. Governments, SMH

vividjohn45 · 10-30-17, 10:19 PM

Well supreme court took the new jersey case. We hope for a major win there.

ChuckyTheGoat · 10-30-17, 10:24 PM

Hope it happens.

What juice will we be looking at? Reality is that lawmakers don't get it. If they make it -125/-125 juice...they can go fk themselves.

PAULYPOKER · 10-30-17, 10:57 PM

Originally posted by jjgold

Who the heck wants to go drive somewhere to make a sports wager it’s absolutely ridiculous and if you when you have to drive back just the money in gas is terrible

Who wants to fly to Vegas,Lol.............

TheMoneyShot · 10-30-17, 11:22 PM

Originally posted by jjgold

Who the heck wants to go drive somewhere to make a sports wager it’s absolutely ridiculous and if you when you have to drive back just the money in gas is terrible

I agree with the driving part.

For example... if Michigan was to approve sports wagering... would it be at the casinos??? Or... would you place wagers at convenient stores? Like where you'd buy lottery tickets?

Could you imagine going to a store and placing a sports wager???

I mean... I'm sure there would be limits of winnings before taxing... like maybe $250 a day or something??? Without giving your ID etc.
If you have your own system... and you're good at what you do... no better place to do sports wagering... than at home.

PAULYPOKER · 10-30-17, 11:25 PM

How about online PA books??

KVB · 10-30-17, 11:27 PM

Originally posted by ChuckyTheGoat

Hope it happens.

What juice will we be looking at? Reality is that lawmakers don't get it. If they make it -125/-125 juice...they can go fk themselves.

I agree that the tax will be passed to the bettor. I always figured -120.

It's too high, a lot of big money will flock to other markets and the public will be bigger part of the marketplace.

I may quit and focus elsewhere if I ever had to pay -120 or -125. I suppose it depends but -110 is acceptable to me for now.

jjgold · 10-31-17, 05:28 AM

Offshore will always thrive especially now with bitcoin

Vegas never dented offshore..bigger than ever now

milwaukee mike · 10-31-17, 07:08 AM

Originally posted by KVB

I agree that the tax will be passed to the bettor. I always figured -120.

It's too high, a lot of big money will flock to other markets and the public will be bigger part of the marketplace.

I may quit and focus elsewhere if I ever had to pay -120 or -125. I suppose it depends but -110 is acceptable to me for now.

-120 is acceptable if there are stale or off market lines... otherwise for average joe that can take a bonus and bet -110 that would be just another horrible decision (most gamblers make quite a few of those lol)

TheMoneyShot · 10-31-17, 12:23 PM

Do you think states will just go double juice for tax purposes?

How much do you think they'd allow you to win daily... without taxing you on the winnings?

I was sort of thinking they will stick with the normal -110 and tax you on small winnings.

PAULYPOKER · 10-31-17, 12:35 PM

My state don't fukk around.........

Rivers casino is only a half hour drive for me.....

The meadows is bout 50 minute drive.......

Sports gaming in all of US(who has casinos now)will eventually have to happen,
otherwise they can't compete with offshore books..............

KVB · 10-31-17, 12:55 PM

Originally posted by TheMoneyShot

Do you think states will just go double juice for tax purposes?

How much do you think they'd allow you to win daily... without taxing you on the winnings?

I was sort of thinking they will stick with the normal -110 and tax you on small winnings.

The government already taxes your gambling winnings. There's no reason to think the rate would change. They can play a lot of games with those numbers though, between the players and the houses.

If it is legalized, it could be tracked more and much harder to hide winnings or "forget" to report them.

Of course, like all other casino games, specific transaction amounts may matter for tracking.

The bottom line is that the government is probably not expecting a lot of extra revenue from the players, just the books.

They could screw the player, making him pay taxes on every winning bet, with no chance of offsetting losses. This could be collected at the book, which is effectively the same a higher priced like -120 issue.

MaddyMax · 10-31-17, 01:07 PM

In ontario they have something called point-spread wagering.

You have to pay minimum 2 games. payout is as follows..

and if you get both point spread correct the pay out odd i believe is something like +100
and if get 3 out +300. its shit. and gets shittier the more games you play.

jjgold · 10-31-17, 01:08 PM

rookie bet legally

Pros bet with low juice and lots of bonuses

StackinGreen · 10-31-17, 01:11 PM

Originally posted by jjgold

Offshore will always thrive especially now with bitcoin

Vegas never dented offshore..bigger than ever now

Finally a sharp comment from JJ

he finally gets it, BTC or cryptos are the revelation

StackinGreen · 10-31-17, 01:12 PM

Originally posted by jjgold

rookie bet legally

Pros bet with low juice and lots of bonuses

Who gives you bonuses?

StackinGreen · 10-31-17, 01:14 PM

Originally posted by KVB

The government already taxes your gambling winnings. There's no reason to think the rate would change. They can play a lot of games with those numbers though, between the players and the houses.

If it is legalized, it could be tracked more and much harder to hide winnings or "forget" to report them.

Of course, like all other casino games, specific transaction amounts may matter for tracking.

The bottom line is that the government is probably not expecting a lot of extra revenue from the players, just the books.

They could screw the player, making him pay taxes on every winning bet, with no chance of offsetting losses. This could be collected at the book, which is effectively the same a higher priced like -120 issue.

I know this topic well from local (on track) vs ADW wagering in horses.

This is the key. They just instituted rule changes for withholding that made horse racing that much more palatable because you can skip out on reporting; the system was so unfavorable to the bettor before it was crazy.

That would be the only angle the new era of state sponsored sports betting. But if you guys are right and they require -120 as conventional vig, offshores will flourish, yes.

TheMoneyShot · 10-31-17, 01:58 PM

Originally posted by KVB

The government already taxes your gambling winnings. There's no reason to think the rate would change. They can play a lot of games with those numbers though, between the players and the houses.

If it is legalized, it could be tracked more and much harder to hide winnings or "forget" to report them.

Of course, like all other casino games, specific transaction amounts may matter for tracking.

The bottom line is that the government is probably not expecting a lot of extra revenue from the players, just the books.

They could screw the player, making him pay taxes on every winning bet, with no chance of offsetting losses. This could be collected at the book, which is effectively the same a higher priced like -120 issue.

The State takes their share though. That's why there are State lotteries etc. The only reason why States would legalize sports gambling is to bring more revenue for that particular state.

Michigan (if they legalize sports wagering) is cheap as fuk... they would tax you on winning probably... $250 for the day... immediately.

PeterJohnson · 10-31-17, 02:19 PM

Pauly same here man I'm from Monroeville area

Originally posted by PAULYPOKER

My state don't fukk around.........

Rivers casino is only a half hour drive for me.....

The meadows is bout 50 minute drive.......

Sports gaming in all of US(who has casinos now)will eventually have to happen,
otherwise they can't compete with offshore books..............

PAULYPOKER · 10-31-17, 02:34 PM

Originally posted by PAULYPOKER

My state don't fukk around.........

Rivers casino is only a half hour drive for me.....

The meadows is bout 50 minute drive.......

Online Sports gaming in all of US(who has casinos now)will eventually have to happen,
otherwise they can't compete with offshore books..............

I meant to say online

jjgold · 10-31-17, 02:41 PM

Originally posted by StackinGreen

Finally a sharp comment from JJ

he finally gets it, BTC or cryptos are the revelation

yes LEGAL PLACES CAN NEVER COMPETE WITH OFFSHORE

PAULYPOKER · 10-31-17, 03:17 PM

Originally posted by jjgold

rookie bet legally

Pros bet with low juice and lots of bonuses

With that theory>

The rookies = losers = huge profits for the legal books......

The Pros = winners = Offshore books go bankrupt.......

jjgold · 10-31-17, 03:29 PM

Bet offshore

RudyRuetigger · 10-31-17, 03:30 PM

when thor supports usa then I will give a fukk about what is in the subject

PAULYPOKER · 10-31-17, 03:30 PM

Originally posted by KVB

The bottom line is that the government is probably not expecting a lot of extra revenue from the players, just the books.

Exactly......

StackinGreen · 10-31-17, 06:13 PM

Originally posted by KVB

The government already taxes your gambling winnings. There's no reason to think the rate would change. They can play a lot of games with those numbers though, between the players and the houses.

If it is legalized, it could be tracked more and much harder to hide winnings or "forget" to report them.

Of course, like all other casino games, specific transaction amounts may matter for tracking.

The bottom line is that the government is probably not expecting a lot of extra revenue from the players, just the books.

They could screw the player, making him pay taxes on every winning bet, with no chance of offsetting losses. This could be collected at the book, which is effectively the same a higher priced like -120 issue.

This is exactly what other countries do in sports books in Central America for example