Front Page of the Jacksonville Paper Yesterday

[Penguinfan]

It happens with high dollar slot machines every day.

You COULD relate it to poker when playing NL easily.

In horse racing anything over $599 on a single wager is taxable and anything over $5999 they take out 38% on the spot (numbers vary state to state I think).

I may have played 300 combinations at $2 each to hit that $600 winner and it doesn't matter, I only mention that because the law reads anything that pays over 300-1, but they only count the one wager that wins, not the wagers that lose (go figure). So now I am even on the race, but owe tax on $600 at the end of the year.


Whats to say they want to tax a single pot over $600 and you win 10-12 of these during a session, but lose a bunch more small ones and break about even on your session.

Now you owe taxes on all those big pots, but didn't make any money on the session.