Gambling and taxes

[Soaring Softly]

Originally Posted by Indian Charlie

There is also the ride you get from having a future bet six months out. The action. Instead of just having action on a horse for 30 minutes prior to post and than the ensuing two minutes, this way, as the horse moves towards the Derby, you get a lot of excitement and thrill from that.

I can speak to that. I bought a little $20 ticket on Funny Cide in the Churchill Downs Pool #1 at 93/1. That ended up working out for me (one of only two that have), but even if he had lost the Derby, the excitement I got out of his run up the the race was worth every penny of that $20! Strangely enough, the only other success I've had with a future bet was another small wager on Pleasantly Perfect in the 2003 BC Classic at 50/1....same year as Funny Cide.

I've dabbled away for the eight years since, and haven't even come close, though I was one of those that held a ticket on I Want Revenge at 60/1.

I just have fun with them. I stick to a budget, and get a kick out of it. And if the kick is one to the stomach like I Want Revenge, it just isn't any big deal. Like Indian Charlie said, I had a lot of fun with I Want Revenge's lead-up to the Derby, and even though he didn't make the race, it was worth it.

[Split Rock]

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.

[jrajf]

could i use my irish passport when collecting ?