1. 06-04-18 05:12 PM #1
    USCPHILLYGUY
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    NJ Taking Sports Bets Starting Friday

    Interesting comment below.


    On Monday, lawmakers decided the tax on a person placing a bet on pro sports at casinos and racetracks will be 9.75 percent, or 13 percent if you do it online.
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  2. 06-04-18 05:13 PM #2
    The Giant
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    Yuck.
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  3. 06-04-18 05:15 PM #3
    pattymayo
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    Sweet.. might have to take a trip to Monmouth Park

    How exactly does the tax work?
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  4. 06-04-18 05:22 PM #4
    Optional
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    Quote Originally Posted by USCPHILLYGUY View Post
    Interesting comment below.


    On Monday, lawmakers decided the tax on a person placing a bet on pro sports at casinos and racetracks will be 9.75 percent, or 13 percent if you do it online.
    13% of what do you know?
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  5. 06-04-18 05:26 PM #5
    jjgold
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    Lol

    Offshore laughing
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  6. 06-04-18 05:31 PM #6
    Bostongambler
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    It’s got to be a tax to the sportsbook, no?
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  7. 06-04-18 05:33 PM #7
    jjgold
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    no idea

    Bottom line is if you drive there costs will be enormous weekly

    I LOVE THIS..ONLY NJ CAN FUK IT UP
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  8. 06-04-18 05:37 PM #8
    Bostongambler
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    Ok, it says the person placing the bet will be taxed. Is that on top of the vig? Who the hell is going to bet like that?
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  9. 06-04-18 05:37 PM #9
    DiggityDaggityDo
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    Quote Originally Posted by Bostongambler View Post
    It’s got to be a tax to the sportsbook, no?
    Yes, I think it's a tax that the casino and race tracks have to pay.
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  10. 06-04-18 05:38 PM #10
    DiggityDaggityDo
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    Quote Originally Posted by Bostongambler View Post
    Ok, it says the person placing the bet will be taxed. Is that on top of the vig? Who the hell is going to bet like that?
    OK I don't know then.

    I'm confused.
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  11. 06-04-18 05:38 PM #11
    USCPHILLYGUY
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    Quote Originally Posted by Bostongambler View Post
    It’s got to be a tax to the sportsbook, no?
    Correct. To Sports Book

    Read an interesting article about Sports Betting in Pennsylvania. They require a 10 mil licensing fee & a 36% tax to the sports book! I’m assuming it’s an old law that will be fixed.
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  12. 06-04-18 05:39 PM #12
    DiggityDaggityDo
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    New Jersey lawmakers want to tax sports betting revenue won over the internet at a rate of 13 percent.
    A bill being considered Monday morning by a state Assembly committee sets that rate on sports betting revenue won online.


    New Jersey won a Supreme Court case last month overturning a federal law that limited sports betting to only four states. Individual states are now free to pass laws legalizing it, if they desire.


    Revenue won by casinos or racetracks in person would be taxed at 8 percent; an additional 1.25 reinvestment assessment would be imposed, as well.


    The bill does not contain a so-called “integrity fee.” The professional sports leagues are pushing for such a fee to help them police betting on their games.
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  13. 06-04-18 05:42 PM #13
    unde0087
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    Either way this shouldn't affect Otters as he won't notice the difference of a few dollars on the -800 favorite
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  14. 06-04-18 05:42 PM #14
    MMANick
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    Quote Originally Posted by DiggityDaggityDo View Post
    OK I don't know then.

    I'm confused.
    We should never get taxed placing a bet, we're already at a disadvantage.
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  15. 06-04-18 05:46 PM #15
    pattymayo
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    That's good, so the casino/racetrack winnings are taxed at 8%. NJ is going to clean up on that.

    I'd imagine we'll see -110 vig then?
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  16. 06-04-18 05:50 PM #16
    jjgold
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    pass

    I feel sorry for NJ bettors

    you cannot win at -110 let alone -120 on average

    5Dimes -105 overnights no taxes
    Heritage -108 no taxes
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  17. 06-04-18 05:53 PM #17
    pattymayo
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    Quote Originally Posted by jjgold View Post
    pass

    I feel sorry for NJ bettors

    you cannot win at -110 let alone -120 on average

    5Dimes -105 overnights no taxes
    Heritage -108 no taxes
    Please, few win at -105 either. For most, it's just a fun side thing to do when you go to the racetrack or casino.
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  18. 06-04-18 05:57 PM #18
    jjgold
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    you will save 1000's per year offshore vs NJ daily bettor
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  19. 06-04-18 05:57 PM #19
    DiggityDaggityDo
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    Quote Originally Posted by jjgold View Post
    pass

    I feel sorry for NJ bettors

    you cannot win at -110 let alone -120 on average

    5Dimes -105 overnights no taxes
    Heritage -108 no taxes
    When are you making a video placing your first bet?
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  20. 06-04-18 05:58 PM #20
    jjgold
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    I do not live in NJ

    I play offshore at -102 to -108

    Offshore I here having big party tonight
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  21. 06-04-18 05:59 PM #21
    USCPHILLYGUY
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    Quote Originally Posted by jjgold View Post
    you will save 1000's per year offshore vs NJ daily bettor
    Maybe. But I’m pretty sure the guy at the window isn’t going to ask me my account password, send me a security email, call me & then make me wait 72 hours to cash my ticket.
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  22. 06-04-18 06:02 PM #22
    DiggityDaggityDo
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    Quote Originally Posted by jjgold View Post
    I do not live in NJ


    I play offshore at -102 to -108
    Offshore I here having big party tonight



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  23. 06-04-18 06:03 PM #23
    jjgold
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    Quote Originally Posted by USCPHILLYGUY View Post
    Maybe. But I’m pretty sure the guy at the window isn’t going to ask me my account password, send me a security email, call me & then make me wait 72 hours to cash my ticket.

    I rather have that than get fukked in the ass daily with taxes

    only idiots going to do that
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  24. 06-04-18 06:04 PM #24
    pattymayo
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    Quote Originally Posted by jjgold View Post
    I rather have that than get fukked in the ass daily with taxes

    only idiots going to do that
    The player isn't being taxed, the casino/track is being taxed on winnings.
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  25. 06-04-18 06:04 PM #25
    jjgold
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    Quote Originally Posted by DiggityDaggityDo View Post






    I do not post my real bets and amounts and lines never ...these are for reference only at -110 same amount every game for tracking
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  26. 06-04-18 06:07 PM #26
    USCPHILLYGUY
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    Quote Originally Posted by pattymayo View Post
    The player isn't being taxed, the casino/track is being taxed on winnings.
    Patty leave him alone. Let him think that
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  27. 06-04-18 06:12 PM #27
    jjgold
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    PASS..I am hearing eventually this tax going to be shared by the player

    FUK
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  28. 06-04-18 06:16 PM #28
    MMANick
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    Coach, you're trying too hard.
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  29. 06-04-18 06:17 PM #29
    El Nino
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    So, stand in line to make a -110 bet. Risk $110 to win $100. You win, then the state takes another 10% in taxes. $110 to win $90. This is before the corrupt leagues get involved to get theirs as well. PASS.
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  30. 06-04-18 06:23 PM #30
    nyplayer33
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    Why are they being taxed on winnings...dont they pay fed n state taxes on the profits
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  31. 06-04-18 06:26 PM #31
    jjgold
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    I am a pro tennis and soccer player

    I CANNOT PLAY USA BOOKS...juice too wide and betting menus too small daily

    BEST OF LUCK TO YOU GUYS!!!!!!!

    JJ GOLD the -105 player
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  32. 06-04-18 06:43 PM #32
    Bluehorseshoe
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    Quote Originally Posted by USCPHILLYGUY View Post
    Patty leave him alone. Let him think that
    But that 's what you wrote in your first post.
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  33. 06-04-18 06:48 PM #33
    USCPHILLYGUY
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    Quote Originally Posted by Bluehorseshoe View Post
    But that 's what you wrote in your first post.
    I copied & pasted a quote from an article.

    So you’re saying you thought you’d go up to a window & bet a -110 Line & be charged $133 on your $100 bet?
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  34. 06-04-18 06:49 PM #34
    El Terrible
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    Quote Originally Posted by Bostongambler View Post
    It’s got to be a tax to the sportsbook, no?
    I'm sure they'll tax the winnings as income, so save your losing tickets- Most people will pay no tax because they wont win over the year

    The offshores will still thrive, but...BUT THE INFORCMENT ON OFFSHORES MIGHT STEP UP BECAUSE PEOPLE ARE DODGING TAXES BY USING THEM, AND THE INDUSTRY WILL DEMAND INFORCMENT. So..Now you gotta overcome the VIG and the TAX

    CANT WIN
    Last edited by El Terrible; 06-04-18 at 06:53 PM.
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  35. 06-04-18 06:49 PM #35
    shadymcgrady
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    Quote Originally Posted by USCPHILLYGUY View Post
    Patty leave him alone. Let him think that
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