Derby Trail Forums - Gambling and taxes

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- - Gambling and taxes (http://www.derbytrail.com/forums/showthread.php?t=44516)

tector

11-15-2011 11:47 PM

Quote:

Originally Posted by Port Conway Lane (Post 817907)

I don't think someone who believes that the future bet is a "sucker bet" is either a bozo or idiot. If someone took a poll my guess would be that more people would vote yes than no.

When someone makes a future bet they are betting the horse will make it to the gate. If I had the means to easily "convert" the wager I may take a shot. I'm wondering why you didn't convert that ticket when you had a chance.

You really have to ask this question?

JFC. Let me guess--you want to chop when a poker tournament gets down to the final table, even when you have the chip lead?

tector

11-15-2011 11:50 PM

Quote:

Originally Posted by pweizer (Post 817910)

Future bets in general are bad bets. Ask any race book manager whether these are hugely profitable for them. I assure you that we all know the answer.

Your claim that they are good bets are based on you hitting a bet about 20 years ago as well as the fact that you got 100-1 on a horse who never made the race.

The Eskendereya example is a perfect illustration. Did you get good value when you made the bet? Yes. Would I have taken that bet a few weeks out from the Derby? Yes. But, in the end, did you cash the ticket? The simple answer is no. There is no value in a losing ticket.

Paul, you are a complete and utter tard who has no idea what the fundamental concept in betting races means. Perhaps you can handicap your ass off, but when it comes to betting, you are a guaranteed loser.

Port Conway Lane

11-16-2011 12:13 AM

Quote:

Originally Posted by tector (Post 817926)

You really have to ask this question?

JFC. Let me guess--you want to chop when a poker tournament gets down to the final table, even when you have the chip lead?

You had a good one. He may have been 1-1 post time and you could have easily doubled your investment after he won the FOY and close to 5-1 after he won the Wood had you sold 50%.

The poker analogy is laughable. You could have kept half the chips you were holding and still cashed in on your initial investment while the bad beat was waiting for you. Besides, in a poker game you're dealing with far less variables.

tector

11-16-2011 12:22 AM

Stop already. You are embarrassing yourself. Publicly masturbate elsewhere.

Split Rock

11-16-2011 02:14 AM

The biggest problem I have with the future bets are when the pools close. If I'm not mistaken, they close AFTER the major prep races are run that weekend. This totally eliminates value on horses who run well in the prep races.

I think if the pools closed on Friday, they might be more worthwhile. Assume you have a priced runner you liked in a Derby prep and you're getting 100-1 on him in the Derby. If he runs to your expectations in the prep, his odds plumet.

By the way, I only bet one horse in future pools and it was Tejano Run in the 1995 Derby. I stood to collect 2500 if he won. Of course, he ran 2nd and I collected zip.

pweizer

11-16-2011 07:48 AM

Quote:

Originally Posted by tector (Post 817927)

I can't keep engaging you on this. I again congratulate you on your win in 1994. Maybe you can hit another future bet on the 20th anniversary of that wager if you keep plugging away.

I don't know how to respond to someone who things a losing bet at high odds on a horse who never ran in the race is a good bet.

There are more than 1000 horses listed on the Wynn odds sheet for a race that only 20 will enter in about six months. Sure sounds like value...

Paul

tector

11-16-2011 08:32 AM

Quote:

Originally Posted by pweizer (Post 817949)

I don't know how to respond to someone who things a losing bet at high odds on a horse who never ran in the race is a good bet.

l

Yes, it is fairly obvious that you don't. That's the problem.

PatCummings

11-16-2011 11:36 AM

Quote:

Originally Posted by tector (Post 817875)

Hell, I am appalled when I run into the sales taxes I see around the country. We are at 6% here and I thought that was bad. But I was recently in Texas and it was 8.25% where I was at--WTF?

Texas has no personal income tax though...and cost of living is way lower than many other places in the country. Balances a bit.

tector

11-16-2011 12:44 PM

Quote:

Originally Posted by PatCummings (Post 817994)

Texas has no personal income tax though...and cost of living is way lower than many other places in the country. Balances a bit.

There is no personal income tax here, either. And you can live quite cheaply here as well, if you want to be in the mostly dumbass parts of the state (which are about as dumbass as most of Texas is, to be fair).

jrajf

11-16-2011 01:30 PM

back to the original thought

could i use my irish passport when collecting ?

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