If Online Gaming Was Regulatedl In The U.S?

[LaurieJim]

If gaming was ever regulated ,how would it affect your playing , would it be less or more considering that your winnings would most likely be taxed and the goverment would have access to your personal info and how much money you spent on a yearly basis .

Would we be able to write losses off like in the B/M casinos? Can you imagine the headaches that this would cause any online casino , keeping up with the losses and sending out a log if requested by the players and of course Uncle Sam, it would be a freaking nightmare

Just wondering if anyone else has had these same thoughts as to when we are free to gamble with our own money online and not feel like a bunch of criminals.

I am all for regulating gaming , paying taxes, ect, just don't know if I want Uncle Sam all up in my business

Laurie

 

[cpdnd31]

actually it was simple -- back in the old day all i had to do was pull up statement from my ewallet showing what went in and what went out -- it was good enough for tax guy .. lol

I would pay taxes in a heartbeat to know i could get my money in an hour or less gosh I miss that.

Jackpot poker and jackpot party casino was one of my favs. I had 2 computers going playing different poker places and casinos and I did very well. I miss those days

I miss when I couldn't win big I could cash out 50 have it in an hour or 2 and try somewhere else or just nickle and dime my winnings back.

Our day will come !!!

 

[bigjohn]

If gaming was ever regulated ,how would it affect your playing , would it be less or more considering that your winnings would most likely be taxed and the goverment would have access to your personal info and how much money you spent on a yearly basis .

Would we be able to write losses off like in the B/M casinos? Can you imagine the headaches that this would cause any online casino , keeping up with the losses and sending out a log if requested by the players and of course Uncle Sam, it would be a freaking nightmare

Just wondering if anyone else has had these same thoughts as to when we are free to gamble with our own money online and not feel like a bunch of criminals.

I am all for regulating gaming , paying taxes, ect, just don't know if I want Uncle Sam all up in my business

Laurie

Here in New Jersey we are just about to find out how it's going to work out. I don't think I'll be playing any less or more but even after taxes I think it will be much easier to come out ahead. The way it is now I hate to deposit $50 and cash out $100 because it is such a hassle for a small amount. Pre UIGEA I used to deposit $20 at a time and cash out if I got to $100 which was not difficult to do.

As far as casino record keeping I am sure any casino would gladly do the legwork required by our government in order to be allowed access to our market.

I imagine the taxing will be like it is now with lottery or casino, any win over $700 from a single bet would be subject to Federal taxation and you should be able to claim your losses up to any taxable amount.

 

[EdieD]

I don't think it's any win over $700, it's 1,200. That's when you get the form from them and it's reported for taxes.

 

[MisterBJ]

I don't think its even about regulation any more. They had more than 4 yrs to come out with online gaming across the board here in the US. When 9/11 happened, they had cameras, facial scan, TSA, etc. all set to go. It maybe more of just taking away rights and/or stopping the funding from US citizens to various unknown organizations.

 

[chuchu59]

I would think that having being starved for so long there is going to be a gush from players in the first few months. The economy seems to be getting better and unemployment hasn't gotten worse if not better. However, after a few months and where the reality of taxation starts to sink in its likely that people will budget more carefully. I think the US Government will never legalise gambling without taxing players/operators. The problem is do they count winnings as income or will different tax rates apply?