Boscar Obarra Wrote:
-------------------------------------------------------
> Meanwhile, the biggest casino in the world, the
> stock market, gets preferable tax treatment on
> everything. Lose money on a chinese fraud (there
> are many) , please deduct it from your taxes .
>
> This tax thing is ridiculous. Where are all the
> wasps at the jockey club , with their supposed
> influence here ?

A good friend of mine pointed out that this tax change should move a lot of players out of the betting pools and into contests. I wonder how the sport will handle (no pun intended) a large migration of handle out of the pools and into contests. 2026 may become my Year of the Contests - skipping out of the betting pools and just sticking with contest betting. What would the impact on the sport be if a lot of people do likewise? It seems to me a no brainer to do something like the BCBC because it nets all your handle and you can dramatically reduce you excess tax obligation - it seems to me that many tracks should start offering BCBC-style contests on their big days as a way to keep handle from migrating away from the betting pools. Again, I would love it if I was wrong here and would be happy to be shown why I am wrong.

More than anything, I really feel sorry for innocent horseplayers who don't realize what the new world has in store for them. It really sucks to be in trouble with the IRS.