So this is what he is afraid of?

lol.

DS, that is really stupid for obvious reasons. You basically know nothing about the subject so why bother to pontificate other than to collect a paycheck from someone who knows even less than you while fear mongering?

lvr,

Kelhus is a known troll. Listening to him ramble about sports betting as if he had a clue is pretty ridiculous.

As if people don't know the spreads already. They've been published in papers for decades and ESPN publishes them on the games. This is complete idiocy for thinking somehow a pro athlete "won't know". Please see Jordan's comments/etc for evidence.

The real issue is getting an unfair edge in a game requires knowledge before the game starts, which would never hinge on some 1 point setup with 6 seconds left.

he might be trolling but what about this guy

The betting market cant be overloaded with an amount that would make fixing NBA players possible.
College Basketball will suffer

Kelhus99 lol

lvr,

He can't even complete basic computations for a no-vig line after numerous corrections, why would anyone think that is true? Aside from the fact he is willfully distorting the facts since announcers will comment on a team down 17 making a last second TD to backdoor saying, "And that score will make a lot of people sitting at home unhappy." Are you really autistic enough to think that is meaningfully different than, "That TD covered the spread for all dog bettors."

It is a special brand of arrogance and borderline autism to pull that off.

Curious: is anyone here in a consultancy or principal role in getting sports betting up and running in USA?

Seems to me states would (should) be looking for people with knowledge of the subject, that is to provide a reasonably attractive product to costumers that is not a complete ripoff.

None as it’s legal now.

This is why the sports leagues lobbyists will take their money and be going directly to Congress and not to the States.

lol are you serious?

almost like he's a professional poker player or something

more likely, they'll be looking to provide a product to clients which appears to be reasonably attractive but is actually a complete ripoff.

I wonder how many new states offering in-game betting will be doing it from TV and getting killed by live bettors at the game before they figure it out. Should be a fun first few days I'd guess at least a couple places.

Setting up a partnership is not the same as protected IP. The courts have already ruled that sports stats, chess games/moves, et al are public domain. This isn't the first rodeo with the leagues getting angry someone else is making money off the stats of the games.

In a case that was filed in 2007, MLB along with MLBPA, NBA, NFL, NHL, WNBA, NASCAR, PGA lost their lawsuit at the District Court level and that ruling was upheld by the 8th Circuit Appeals Court. DC granted summary judgement and The Appeals Court actively affirmed the rights of anyone to use the names and stats.

Obviously, there are 1A issues at stake if I'm watching a Cubs game and cannot say/write/publish that Rizzo just hit a dinger and who he plays for, and off whom, and who scored, ad infinitum.

So are you claiming I can publish Shotlink data without fear of cease and desist?

Maybe read slower next time, champ.

Solid bro.

read the rest of it

you guys are all the worst

PGA Tour has full right to sell/license its golf scores/shotlink data the same as they have to sell rights to their TV broadcasts.

The link above related to MLB and fantasy sports, and first amendment rights of information freely available in the public domain. Not applicable.

How does sportsbet tax work?

Do you only get taxd on your profit?

**** paying leagues a fee. They'll already benefit by having way more viewers.

Not true. You only need an edge, not a lock.

That's what he said.

DISCLAIMER: THE BELOW IS NEITHER LEGAL NOR ACCOUNTING ADVICE. I AM NOT YOUR ATTORNEY. IF NECESSARY, YOU SHOULD RETAIN AN ATTORNEY OR ACCOUNTANT IN YOUR JURISDICTION TO ADVISE YOU.


Assuming you are filing as an amateur:

Gross wins go on the "Other Income" line of your Form 1040. You can either take the standard deduction or itemize your deductions. If you itemize deductions, then you deduct gross losses on the "Other Miscellaneous Deductions" line of your Schedule A, and you cannot take the standard deduction. If you take the standard deduction, then you get the standard deduction amount ($24,000 for 2018), and you cannot itemize your deductions (which results in not being able to deduct losses).

People filing as a professional gambler use Schedule C to report both gross wins and gross losses and the net amount is reflected on the appropriate line on the Schedule 1040. A professional gambler is also going to have self employment tax to pay and have to file Schedule SE for that.

The above is for federal taxes. States all have different systems of their own (for example: (i) some have no income tax in general, (ii) some allow wins and losses to be netted and the net amount reported and (iii) some tax gross wins and do not allow losses to be deducted at all).


The following is a link to a thread about how U.S. income taxes work (it states that it is for poker, but all gambling is treated the same with respect to general tax purposes so a lot of it should be able to be applied to sports betting):

https://forumserver.twoplustwo.com/5...-poker-740589/


DISCLAIMER: THE ABOVE IS NEITHER LEGAL NOR ACCOUNTING ADVICE. I AM NOT YOUR ATTORNEY. IF NECESSARY, YOU SHOULD RETAIN AN ATTORNEY OR ACCOUNTANT IN YOUR JURISDICTION TO ADVISE YOU.

Thank you for the all caps, twice written bolded assertion that you aren't my lawyer. Before I read that I was just thinking about how you, Lego05, were actually my lawyer.

Delaware offering sports at 1:30p on Tuesday on all major college and pro sports.

TEAM AMERICA F*CK YEAH!