Matthew Snyder

God, Family, Code. CTO @Gambly, Co-Founder @UnabatedSports.

[Matthew Snyder @snydercoder]

I’m psyched to be joining forces with @Gambly! The leadership and vision that @CalSpears and @BalesBets bring to the table is a game-changer for the @UnabatedSports brand. Excited to focus my efforts on building a range of innovative products for sharp and casual bettors! 🔥

[Cal Spears @CalSpears]

It's official! Gambly and Unabated are one. Excited to build alongside some of the best in the business. Most importantly - we are hiring, especially AI-first engineers. Come join the rocketship. Thanks @jeffedelstein for the article. Look for a @BettingStartups pod dropping soon.

[Jonathan Bales @BalesBets]

Big news, at least in my world: my company @Gambly is merging with @UnabatedSports.

Together, we’ll be able to serve the entire spectrum of sports bettors, from casual to pro.

Some details…

[Gambly @gambly]

@gambly 🤝 @UnabatedSports

Read @jeffedelstein's article on what this merger means for sports bettors: https://t.co/Tig88Pl0Pd

[Unabated @UnabatedSports]

Big news: Unabated Sports has officially merged with @CalSpears and @Balesbets AI-powered betting platform @gambly.

A quick thread on what this means for Unabated members 🧵

[Matthew Snyder @snydercoder]

Can someone explain to me how @ChatGPTapp can do all the amazing things that it does, but then thinks it’s 2024 right now?

[Matthew Snyder @snydercoder]

im skipping the line for Polymarket. if you care about being early, use my link: https://t.co/JyNvPJ66wy

[Captain Jack Andrews @capjack2000]

Hmm...how's that going for Rufus?
*checks Kalshi leaderboard*
🫢😲🤯

[Rufus @RufusPeabody]

Not to shill for @UnabatedSports but it’s legitimately indispensable for what I’m doing on prediction markets.

[Matthew Snyder @snydercoder]

@capjack2000 Rock on

[Unabated @UnabatedSports]

It pays to be first to the news.

Just a nice little 31.7% edge if you nabbed -3.5 before it moved to -8.5.

[Matthew Snyder @snydercoder]

@SportsbkConsig @middleconsig @jsharapan @khs__09 My thoughts and prayers are with your family.

[Cal Spears @CalSpears]

A week before the last SuperBowl we released @GamblyBot on X and immediately saw massive traction. It was an innovative solution to a problem many bettors share. The bot is right at the core philosophy of @gambly - removing friction from the betting process. We've sent millions of betslips through this bot across platforms.

Along the way @pikkitsports released a solid competitor and it made us double down on our bot efforts. Today X cut both of us off - turns out my old company Better Collective/Action Network was negotiating an exclusive deal with them. We never even got a proposal or a chance to bid against them.

The exclusivity is very disappointing but also temporary. I'm sure we'll be back up, especially as X realizes that competition will yield a better service for their users.

In the meantime you can access @GamblyBot in a variety of ways, just check the pin post for details.

We will keep on innovating - there are dozens of fun projects on the roadmap. Definitely check out the iMessage integration we just released and "Voice to Betslip" through Siri.

[Matthew Snyder @snydercoder]

@rxgamble @capjack2000 Great photo!

[Dina Titus @repdinatitus]

On Monday I’m introducing the FAIR BET Act, the Fair Accounting for Income Realized from Betting Earnings Taxation Act, to permanently restore the 100% loss deduction from gambling winnings.

I welcome all other members to join this common sense fix.

[Dina Titus @repdinatitus]

I have solutions for all three!

🏈 The Discriminatory Gaming Tax Repeal Act

⚖️ The soon to be introduced FAIR BET Act

🎰 The SLOT Act

Gaming should be treated like any other industry.

[Phil Galfond @PhilGalfond]

The Big Beautiful Bill is supposed to generate $1.1 billion in extra tax revenue from gamblers.

It won’t.

And, here’s how they could generate $100+ billion instead.

[Jordan Cooper @blenderhd]

I’m baffled that many think this proposed gambling tax change doesn’t affect the vast recreational base because “most people lose anyways”.

Sure, the big losers have nothing to worry about. But the house edge in many popular verticals is sub 10% if not sub 5%. Think NFL game day spreads, promo boosted parlays, 3/2 blackjack, $150 weekly poker MTTs, high RTP slots, etc.

This means out of the millions of Americans who gamble responsibly within their financial means as an form of entertainment, tons will hit a decent jackpot, parlay, or tournament; or cumulatively win back enough money to incur only a relatively small loss (minus 5-10%) yearly.

These folks will still be hit with a tax bill on *negative actual income*. Maybe it won’t be too much, but imagine being in the hole $1000 on a recreational activity on the year and then still owing the IRS $250 just for the privilege of losing money!

In fact, many within this threshold (which could be tens of thousands of people) may be compelled in December to gamble more as a “tax harvest” to either win 10% more than their losses or lose more than 10% of their winnings just to not get stuck with the burden.

Is this tax change not a responsible gaming issue then also? It’s basically saying it’s perfectly fine for you to be an addict punting away rent money on upwards of 30% holds but not only is there a penalty for gambling responsibly, we’re going to create conditions where you’re compelled to an addictive degenerate behavior just to potentially avoid an unfair expense.

I get it. Some people will vilify gambling even as a responsible recreational activity. Some will think that if you can’t afford to pay $500 extra in taxes on phantom income, you shouldn’t be gambling in the first place. But it’s no different than anyone’s hobby.

Imagine spending X dollars on fishing, crafting, yoga, or simply going out to the movies or bar every week - then having your CPA say “based on how much you spent on these activities (which includes sales tax), you owe $150 more to the government for no discernible reason”.

This tax change isn’t just an issue for “pros” or “sharps” or a sliver of 1% of the highest stakes folks who already are quite well off financially. If you buy a scratch off every so often or go to the casino with friends a few times a year or put down some parlays each week during football season, this still affects you too.

[Captain Jack Andrews @capjack2000]

All the talk is going to be about how gamblers can apply "sessioning" to their gambling logs.

Here's 2020 me talking about that approach:

[Captain Jack Andrews @capjack2000]

Where are the operators? Where are the industry lobbyists? Where is the outrage?