Quote:
Originally Posted by Bigjohnson
In states that allow gambling on horse racing, including Texas , the state has an interest in knowing exactly the amount of money that is handled by the track on wagers. The state collects a tax that is different from the sales tax on food, tip sheets, racing forms, etc. The tax on the dollars wagered by the bettors is levied by the state per statute. I am merely suggesting that the state will want its cut of the action. I also believe the state will want to regulate the games, just like horse racing so that the public will know that the games are legit and that, as much as possible, someone is paying attention.
Pari-mutuel wagers are different than chips in play. Further, chips in play are different than the track handle by virtue of how payouts take place. By example, I could buy-in with $2K in chips, sit for a few hours and not have any 'wagers' beyond the obligatory SB/BB, with the house getting precisely ZERO of those once an orbit wagers.
Contrast that with a dog or horse track and I cannot make any wager without going to the window and knowing a cut comes off of the top and that odds could change by the time the race goes off.
I don't believe there are different taxing structures for food and beverage sales. Those should be consistent with any other local food and beverage establishment. And racing forms, when I got them for the dog track in Corpus before it closed, were no different tax-wise than any other publication.
Track taxes pay per the schedule on the Comptroller's website:
https://comptroller.texas.gov/taxes/pari-mutuel/ -the amount per race is really pretty minimal which explains why F&B tax revenue dwarfs pari-mutuel income. Even titty bars bring in more revenue for the State than the tracks...at least based upon 2015 tax year numbers.
That being said, there is no question the State leaves several million dollars a year on the table by not formally legalizing poker. Some Counties do quite a bit of business through their licensing of eight-liner machines (yes, there are actual permits issued and funds collected). There are reasons the eight-liners are so prevalent in South Texas.