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Does your state have legalized sports betting? Like it?

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Posted: #1


Several states now have legalized sports betting. Appears that Indiana's recent success has caught the eye of Michigan. Sports betting and internet gambling bill now on governor's desk. Legal sports betting expected by March Madness.
Ohio also moving forward.

For those of you who already have it, do you like it? What do you like or don't like?

Here are some interesting articles;

https://www.thelines.com/betting/revenue/
(Note; Rhode Island lost nearly $900,000 when Patriots won the SB) 



https://www.taxpolicycenter.org/taxvox/three-tax-lessons-first-year-widespread-legal-sports-betting
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Posted: #2

I live right  on the border of PA & MD...PA has and MD is really dragging feet (probably won't have until 2021).  It's great...PA has online, so you can do all from FanDuel or whatever app you prefer...just have to physically in the state (verified with Geolocation).  Not to mention with them all trying to grab market share, there have been some great first time rewards/bonuses that were typically unlike any of those bogus offshore ones where you have to rewager it like 10x before can pull out. 

Also, it's probably a good thing that I live in MD, but need to physically be in PA to place bets...keeps me from adding bad bets from my couch Saturday nights after several whiskeys!

an_cheers

 
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Posted: #3

I live in pa but travel to Jersey nearly every week, Rivers operates in pa and indiana and Sugarhouse operate in both states with a $250.00 sign up match on both sites in both states. so in other words you sign up with a 250 deposit and hit activate and they give you a 250 match immediately with no strings except you must be in the state to wager verified by geolocation on your device. Also the Borgota now has a 300.00 sign up bet through ( not as good as sugarhouse ) Since college football start this year I have received over 1600.00 in free money. They have deposit matches all the time ( deposit 150 and they match it at either 100 or 50%). Withdrawls are very easy at the cage in the casino instantly approved on line and I have received checks in the mail also. We also have fan duel, Parx sportsbook, and more but I am now only using Rivers and Sugarhouse. Good luck Gentleman

 
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Posted: #4

yes new jersey here, its great, no more worrying if ill ever get that check from somewhere in mexico or costa rica,  but I just don't understand why is this not legal everywhere???  I mean 95% of the civilized world has legal sport gambling. Why is this such a big deal here???

 
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Posted: #5

Quote Originally Posted by PublicJoe:

yes new jersey here, its great, no more worrying if ill ever get that check from somewhere in mexico or costa rica,  but I just don't understand why is this not legal everywhere???  I mean 95% of the civilized world has legal sport gambling. Why is this such a big deal here???

Politicians, lobbyist groups and people with money and agendas.

 
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Posted: #6


Thanks for the responses!

One reason Michigan has dragged it's feet is fear of The Michigan Lottery losing revenue. In Michigan the tribal and Detroit Casino's will host the betting. I did see there will be account wagering on horses but I DO NOT SEE account sports wagering???? In Nevada I did well with in-play wagering from my living room chair, especially on college basketball. Would be nice to see it.
 
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Posted: #7

New Mexico has legalized sports action, as does Mississippi.
 
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Posted: #8

I go to the Indy sports book occasionally when I want to get out of the house. I’m waiting for Illinois books to open up. It’s cool I guess. I’ll BS with some of the older guys and have met a couple cool people. Had lunch with one guy. There’s a lot of idiots that walk around pretending like they know what they’re doing and want to talk a big gsme. They’re usually the first to get rolled. Lot of people building massive parlays which cause huge lines, so it’s tough going to books without a mobile app. I’ll take my couch any day of the week over the sports book, but it’s a fun atmosphere from time to time if you’re looking to get out. Have a cigar, a good bourbon, win some loot, maybe talk some sports and head on home
No team is as good as it looks when winning nor are they as bad as they look when losing
 
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Posted: #9

 The state of Washington has shot down all the bills to legalize sports betting. There are Indian casinos all over (three, including one of the biggest in the state, within 30 mins. of me) so gambling is already in place, but the state seems to relate sports betting to crack.
 
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Posted: #10

What about taxes on winnings? How much do they take on top of the juice?

 
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Posted: #11

Quote Originally Posted by Ticktockw:

What about taxes on winnings? How much do they take on top of the juice?

 

Typically with gambling winnings you have to win more than $5,000 and then they withhold either a flat 25 or 28%

 
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Posted: #12

Quote Originally Posted by PublicJoe:

yes new jersey here, its great, no more worrying if ill ever get that check from somewhere in mexico or costa rica,  but I just don't understand why is this not legal everywhere???  I mean 95% of the civilized world has legal sport gambling. Why is this such a big deal here???

 

The same reason there are still dry counties in some areas. Antiquated ideals that associate gambling, drinking, etc. with sin and the myth that we are a "Christian Nation". 

 
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Posted: #13

Quote Originally Posted by GamblinDAWG:

 

Typically with gambling winnings you have to win more than $5,000 and then they withhold either a flat 25 or 28%


Anything from a $600 win on up you get a 1099 and it is reported to the IRS. Believe if you bet $330 and get the $630 payout you will get the 1099. Also anything 300 times your wager gets a 1099.

Anything $5000 on up they will take a minimum 25%. You can have them take more if you wish. 

Losses can only be deducted on Schedule A and I believe Michigan wants that tax on all winnings regardless of losses. Only if you claim gambling as a business can deductions be used on state taxes. (Schedule C)

Make several $100 bets instead +$300 bets and avoid attention!
 
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Posted: #14

Quote Originally Posted by Borgota:

I live in pa but travel to Jersey nearly every week, Rivers operates in pa and indiana and Sugarhouse operate in both states with a $250.00 sign up match on both sites in both states. so in other words you sign up with a 250 deposit and hit activate and they give you a 250 match immediately with no strings except you must be in the state to wager verified by geolocation on your device. Also the Borgota now has a 300.00 sign up bet through ( not as good as sugarhouse ) Since college football start this year I have received over 1600.00 in free money. They have deposit matches all the time ( deposit 150 and they match it at either 100 or 50%). Withdrawls are very easy at the cage in the casino instantly approved on line and I have received checks in the mail also. We also have fan duel, Parx sportsbook, and more but I am now only using Rivers and Sugarhouse. Good luck Gentleman

Interesting to see you use the Rivers/Sugarhouse.  similar to you, i opened accounts almost everywhere to take full advantage of all the first time sign-ups features, etc. but last i used them they didn't have an app.  FanDuel has the best app out there IMO and it's not really close...although it did seem like i was finding favorable lines (for my side at least) at Parx more often.  I did see Draft Kings recently got approved for PA, but at the time their sign-up bonuses were sh!t...have to recheck that b/c looked like a good app as well.  Agreed on the payouts, it's so nice/easy...plus with being legalized/US gaming a lot less risk of CC or bank account getting stolen or some sh!t when doing deposits and/or online payouts...unlike a certain outfit out of Costa Rica (rhymes with Live Times) that I would magically always have fraud on my CC after using.

 
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Posted: #15

Quote Originally Posted by UNIMAN:

Quote Originally Posted by GamblinDAWG:

  Typically with gambling winnings you have to win more than $5,000 and then they withhold either a flat 25 or 28%
Anything from a $600 win on up you get a 1099 and it is reported to the IRS. Believe if you bet $330 and get the $630 payout you will get the 1099. Also anything 300 times your wager gets a 1099.Anything $5000 on up they will take a minimum 25%. You can have them take more if you wish. Losses can only be deducted on Schedule A and I believe Michigan wants that tax on all winnings regardless of losses. Only if you claim gambling as a business can deductions be used on state taxes. (Schedule C)Make several $100 bets instead +$300 bets and avoid attention!

Make sure you visit a physical sportsbook  (or a racetrack) prior to year-end and pick up a bunch of loose losing tickets...so you can prove you have losses = to your winnings that were reported on the 1099. 

Always break-even new_moj_wink

 
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Posted: #16

I'm a sportsbook writer at DraftKings at Del Lago..I love my job and the response from customers is unreal..Saturday and Sundays the place is packed..Thank you New York for making it legal

Jaddy D
 
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Posted: #17

 The sports book is up and running at Oaklawn race track in Hot Springs, Ar. $1000 limit on sides.

 
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Posted: #18

That's a negative.. nevada nor Mississippi takes a flat fee.. largest winnings I took home on a bet was 29400 they dont take a flat fee.. if you win 3k or more on a bet or 10k at say a William hill then you are suppose to claim it.. but never have.. my average bet is about 6k just for a typical game it's so hard to track it... I usually tend to break down like 4 or 5 bets of 2k on a game if I really like it just so they cant track it.. personally I'm against all this legalization I liked when it was legal in a few see states. I like having 2 month vacations in vegas.. it was so much easier to win imo now that it's legal I feel like some of the integrity has been taken out.. these outcomes have become laughable on half the games. Refs manipulating everything.. more states legalizing the less I bet anymore 

 
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Posted: #19

UNIMAN/Drill - Great info on the 1099 reporting.  Thanks for the info.  I have won on offshore accounts and waited 2-3 months for a fucking payout, but with all the options State-side, don't have to go through that BS anymore...

Now all I have to do is win a shit ton of bets!!!

peace_5clover

 

 
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Posted: #20

Uniman, I'm here in Michigan and from everything I've read, online sports betting is part of the package.
 
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Posted: #21

I live in Pennsylvania. Our first retail book opened in Philly last December. Our first online book opened right around June. Online is so convenient and the bonuses are pretty good. I think someone above mentioned rivers and sugarhouse bonuses, they were awesome. Most of the others are just if your first bet loses you're covered, which is still obviously good. But once the bonuses were done, I try to place most of my bets at my local book (about 20 mins away) to avoid tax the hassle. I am not a high risk bettor, I bet up to $500 max on a game. They don't take any taxes from that, in my state a lottery ticket that wins $600 or more is taxed. So id assume that's how a sports betting cash ticket win gets taxed at a casino. Legal is so great, good luck to all of you getting it online and a book close to you

Can a swindler change his spots?
 
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Posted: #22

I live in Vegas but recently visited Pennsylvania and i guess sportsbetting is new in the state .. I went to a casino in PA called Mount Airy casino and i was very impressed by both the sports book and the Casino 
 
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Posted: #23

Yes, we have legalized sports betting in our state. I'm okay with that because I love the excitement and everything about it.

 
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Posted: #24

NY has legal sports betting in a few Indian casinos.  I love the betting kiosks they have, they are better than what online books offer.  The juice could be better though.  But the deal breaker for me is I live 25 minutes away.  By the time I drive there, park, wait for some 80 year old guy to put his bet in in front of me, and drive back it, it 90 minutes.  I'll do this for the Super Bowl, but not every week.  When there is kiosk in the 7-11 near me, then I will be wagering a lot more regularly.

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