For you guys that think the US should legalize sports/poker gambling

[Emily_Haines]

After reading this crap................

http://www.reuters.com/article/2011/11/02/us-usa-tax-transaction-idUSTRE7A175U20111102

I am 100% convinced that the game would become unbeatable due to government greed. I actually think that legalizing may actually cure many peoples gambling problems as it would become apparent that you could not win. Much in the same way the government has destroyed horse racing.

[tblues2005]

It is something to think about. If it is done in the right way it will work and it will help the government make some badly needed tax revenue. That is the only way it would pass is because the government is broke and that goes right along with passing pot.

[ttwarrior1]

government destroyed horse racing??

[tblues2005]

ttwarrior I think that means the high take outs that they allow to happen.

[Emily_Haines]

Think about it........... you would have an additional tax on the rake/juice and then if you defied all the odds and actually won you would have to pay tax on it. And not the normal tax the bullshit self employment tax. IT WOULD NOT BE POSSIBLE TO WIN!!

[FourLengthsClear]

The Australian and UK models work OK.
Taxes are paid by the book and not by the end user.

Given the high transaction costs faced by US facing books right now, these taxes need not mean a worse deal (unless the government wanted too big a slice) for the punter. If it proved to be that way the industry would continue to be 'underground'.