Reduction in gambling loss deductions…

Slumdog

Slumdog

Registered
Forum Member
Feb 7, 2021
4,333
2,202
113
Yea. I’ll be done Dec 31. This starts next year. Last year my winning wagers totaled 1.4 million. Losing wagers totaled 1.55 million. If they think I will pay taxes on 10% of winning wagers after losing on the year. They’re Fkn nuts. Short The gaming stocks

Dc did this bc dk and fanduel etc lobbied hard to not raise taxes on them. This was their solution. Screwing over the players. Even more. lol. Assholes.
 
  • Like
Reactions: redsfann
Albatross

Albatross

Registered
Forum Member
Sep 24, 2013
545
94
28
You sure it doesn’t take effect until next year. I think it’s effective this tax year.
 
C

#cruncher

Registered User
Forum Member
Jul 26, 1999
9,089
165
63
New Orleans
Slumdog said:
We all know what everyone is going to do.
Click to expand...
They could be trying to push people into the stock market, where the people with inside information, etc can rip off the bigger gamblers. I just wonder what people/group are responsible for this new law?
 
Slumdog

Slumdog

Registered
Forum Member
Feb 7, 2021
4,333
2,202
113
For instance. Murphy wanted to raise taxes on the gambling sites in nj. Other states would have followed. The idea went federal. The gaming lobby paid off all the politicos in dc to come up with another strategy to raise money. They then thought of this chit.

I would get emails saying to call my congress people and tell them not to raise taxes on dk (gaming sites) . They would market them as if they raise our taxes we won’t be able to give free bets and promotions. lol.

What a screw job. This phantom tax will kill Vegas and all onshore gaming.
 
You must log in or register to reply here.
Bet on MyBookie
Top