Quote:
Originally Posted by ReplayRandall
Let me take my above post one step further without the roulette player example. Why does a pick-4 player, who bets a $100 ticket and hits for $3600 have to sign, when a WIN bettor bets the same $100 on a 35-1 that hits and doesn't have to sign at all?....It's nothing but sheer hypocrisy.
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I completely agree and unfortunately the NTRA did not really solve this problem. Any signing for winnings should be based solely on the amount of net winnings and not on the type of bet made. The other big issue, which will become an even greater issue with the proposed "tax reform", is how losses are written off for non-professional players. Unless losses are allowed to be netted against winnings there will not be a way to write off losses. Currently losses can be written off as an itemized deduction (terribly unfair for many bettors) which provides some relief but has its own set of problems.
