Is this possible, will it work?
 

Ok, Joe Blow bettor is at the track and hits a Pick 3 that pays $1,400. Is this possible?

He takes his winning ticket and puts it in the self service machine. Would it not just print you off a voucher for $1,400?

Then, Joe Blow bettor plugs in $500 to win on a horse in a race 1 hour away, and $400 to win and $500 to place on another horse in another race.

Then, he decides he wants to just get a refund (hint) before the races go off. Would he not get his $1,400 and avoid the Tax Man?

No its not possible. Those machines are programmed to not cash an IRS ticket. It beeps and says "withholding" or "irs" and spits the ticket back out.
Never happen.

$1,400 ticket does not mean you have a signer.

What do you mean?

tvg just sent me some tax info stuff

Right, you get some type of message telling you to "Go to the IRS Window" ... i've tried

Its based on the odds.

If I play a $100 straight exacta and it pays me $1,400....I don't have to pay taxes on it.

Why would you want to avoid paying taxes? Thats illegal. If you are that pathetic, then find a 10 % er, you know the bums who hang around tracks to cash people who have job's tickets. Funny how some people are so desperate to make a living.

I am confused, it's based on the odds of the horse(s) ?

KEV i miss you and love you

No...its based on the odds of how much you have invested in the ticket vs. the payout.

No, I would not do that, just curious I was brainstorming, more like daydreaming, earlier today

miss ya and love you too bro.

got ya, thats how it works

Oracle and the guys would probably know best, but out here the $2 payoff has to be $600 or more to be a signer ... I had a $5 exacta on the Derby that paid $587 for $2 and I didn't have to sign .... not sure if the minimum amount is different from state to state

I'd be pretty dang worried handing a stranger my winning ticket just to try to avoid taxes...but I guess it happens. What happens when they bolt?

I should know this having been a Teller but it never came up

One individual tried this move a couple months ago and lets just say that he was found and dealt with in a physical manner. True story, I know the loser from the track who tried to pull this off. I can tell ya that at Beulah and Scioto their are 2 or 3 guys every single day their that do nothing but sign

You pay taxes when you hit for $600 or higher based on a $2 ticket.

Say if you hit a double that pays $700 for $2. If you were smart enough to place $1 tickets you would be exempt from the taxes. But if you made a straight $2 wager or higher you pay taxes. Always make $1 wagers on exotics.

I believe where I'm at it's 300-1 (or 600-2 as steve said) means you have to sign.