@goldenpants013@queenmuffin___ π€ youβre the man GP, i listen to every episode, youβre the easiest person in industry to have inside my ears
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@GMGoBetting@the_bankrollu@OddsJam @AlexMonahan100 great video.
been mia from here but someone sent this to me and i cant believe this is real π€¦ββοΈ
big beautiful bill sports betting tax thoughts
the only new-ish thing i want to say is...people need to realize that even the largest losing sports bettors go into each year either thinking they're going to win or hoping they're going to win!!!
the ones who are aware of this change will be more incentivized than they already were to play illegally
obv this is stupid and if it holds, the only winner is illegal bookies
- sharps/pros of course take the brunt of it
- casuals/whales are incentivized to use bookies instead of legal operators (small % will be aware of this but it'll be high rollers who are)
- legal operators lose out on the whales who decide to stay off grid
- government gets less tax revenue from the above (especially sharps/pros who most reliably pay gambling taxes)
the top 1% of losing sports bettors make up about 50% of the revenue for online sportsbooks
these guys all go into each year thinking that they're going to win or hoping that they're going to win
if they think they're going to get screwed on taxes they may stick to their bookie instead of playing legally
there is no world that DK or any other sportsbook would be in favor of that possibility
1/ If you haven't read the Q&A related to prediction markets from @BrianQuintenz's @CFTC hearing, you should ASAP. It's the clearest statement of intent re: how the USFG intends to handle PMs (spoiler: floodgates are not just opened, but removed and put in deep storage).
A π§΅π