In Vegas, there are differences in lines in almost every book .......no difference in the east coast books.
Cavs are mostly +4.5 to +5 in Vegas.....are you seeing +7.5 anywhere in Delaware? Now that would be a huge difference.
I don't see why people are saying the taxes will reflect in the spread, lmao.....please stop the BS
You can collect up to 5k before showing ID in Delaware sports books, go read the rules.
Horse racing has always had different pay out tax rules.
They've already stated 110 to win 100......I highly doubt we see 140 to win 100, Noe that would be crazy......I've been to Vegas twice, once for 3 months & I've seen juice at -125 on certain -3 games.
Let's just wait patiently & see what the NJ books have available before judging their juice & lines......as of now, I don't see no difference between a Vegas book & what east coast will have.
I haven't seen the rules for NJ, but I would wager they have higher limits than Delaware & will be at Delawares 5k tax winnings or higher.
When you stated $600 for taxes, that means if you bet $2 on a big parlay & win $600 or more, anything like 300 times more than your bet will be taxed, that's every racecourse in the nation, & yes, it means the sports books as well.......a str wager of $2,200 to win $2,000 is not over the taxable winnings of $5,000 at Delaware, or $10,000 in Vegas......NJ will receive a lot of action on sports betting, let's see if they have their taxable winnings at $10,000 like Vegas.
The National Thoroughbred Racing Association (NTRA) announced updated regulations that finally reflect the reality of 21st century betting on horse races.
Bettors were required to sign IRS tax forms whenever they collected a wager that paid at odds of 300-1 or greater. For example, if a bettor cashes a $2 trifecta ticket worth $1,200, she’d have to pay over the applicable tax before receiving any of her winnings…regardless of how much money she’d actually invested in the wager. If her tickets contained $100 of various trifecta combinations, she’d nonetheless be subject to the tax, because one of those combinations paid out at odds of 300-1.
Now, she’d have to win $30,000 in order for that tax to kick in, because the new regulations take into account the full amount of the wager, not just the amount of the winning ticket.
“The definition of the amount of the wager has been changed,” explained Jim Mulvihill, director of media and industry relations at the NTRA. “Now, it’s calculated based on all of the money someone puts into one pool, as opposed to the base amount of their wager.”
When the withholding and reporting regulations were established decades ago, bettors had a small menu of options from which to choose: win, place, and show bets; a daily double; maybe exactas and trifectas.
“There will still be signers,” said Mulvihill, using the horseplayers’ term for a ticket that requires IRS reporting, “but there will be 95% fewer of them.”
Bettors were required to sign IRS tax forms whenever they collected a wager that paid at odds of 300-1 or greater. For example, if a bettor cashes a $2 trifecta ticket worth $1,200, she’d have to pay over the applicable tax before receiving any of her winnings…regardless of how much money she’d actually invested in the wager. If her tickets contained $100 of various trifecta combinations, she’d nonetheless be subject to the tax, because one of those combinations paid out at odds of 300-1.
Now, she’d have to win $30,000 in order for that tax to kick in, because the new regulations take into account the full amount of the wager, not just the amount of the winning ticket.
“The definition of the amount of the wager has been changed,” explained Jim Mulvihill, director of media and industry relations at the NTRA. “Now, it’s calculated based on all of the money someone puts into one pool, as opposed to the base amount of their wager.”
When the withholding and reporting regulations were established decades ago, bettors had a small menu of options from which to choose: win, place, and show bets; a daily double; maybe exactas and trifectas.
“There will still be signers,” said Mulvihill, using the horseplayers’ term for a ticket that requires IRS reporting, “but there will be 95% fewer of them.”
