CT Sports Betting coming very soon

[JohnFSilver]

I’ll stick to my bookie and not pay taxes.

Also there is the issue of credit.

 

[methodology]

Anyone who bets through the state programs aren't seasoned/real bettors. You are paying a higher vig to play and are getting taxed on winnings

Those 2 factors kill/cut into percentage and you will have to hit at above a 60% rate to be profitable vs about 54%

 

[August_West]

Good for the state. As someone who doesn't smoke weed and rarely bets on games why do people who smoke weed and bet on games want to do it through the state?

Um because then you are not breaking the law?

Um because then you are not supporting organized crime? Do you know how much violence is created out of black market drugs and betting?

 

[superjohn]

People still have bookies???

Of course, that's why I asked who does this stuff through their state? Whenever I make a sports bet which is highly infrequent these days I do it through my guy's bookie. Everyone I know who is serious about sports betting does it through bookies. Same goes for weed, anyone I know who smokes a lot of weed gets it through their dealer.

 

[superjohn]

Um because then you are not breaking the law?

Um because then you are not supporting organized crime? Do you know how much violence is created out of black market drugs and betting?

Because our gov't criminalized it. It pales in comparison to the violence created by and done by our gov't.

 

[methodology]

Um because then you are not breaking the law?

Um because then you are not supporting organized crime? Do you know how much violence is created out of black market drugs and betting?

Bookies aren't breaking legs anymore.

Betting is not illegal. Accepting bets and being a book is illegal

 

[MJ1]

So Bridgeport and Hartford are in and New Haven, Sports Haven is out. Bummer

 

[mussels]

Bookies aren't breaking legs anymore.

Betting is not illegal. Accepting bets and being a book is illegal

So what do they do, call you in for a money management counseling session and put a letter in your file?

 

[Waquoit]

So Bridgeport and Hartford are in and New Haven, Sports Haven is out. Bummer

Did you read that or are you extracting? The Lottery gets to put a new place in Hartford and B'port. But I see that clause talking about SportTech as covering Sports Haven and the Bobby V's. Maybe even Putnam and Torrington.

 

[Deepster]

Of course, that's why I asked who does this stuff through their state? Whenever I make a sports bet which is highly infrequent these days I do it through my guy's bookie. Everyone I know who is serious about sports betting does it through bookies. Same goes for weed, anyone I know who smokes a lot of weed gets it through their dealer.

That's funny. My uncle and grandfather were both bookies and I grew up with them taking bets at the dinner table while I was doing my homework. Phone ringing off the hook, them scratching bets down in a notebook. Weird to think of some similar thing still happening today.

 

[methodology]

So what do they do, call you in for a money management counseling session and put a letter in your file?

No they learn everything about you and your family and pressure you that way. They try to work with you and put you on a payment plan. Once violence is used you are looking at RICO charges and that will cost them more.

in addition all legitimate bookies know all the players in the game they talk to each other cause sometimes they have to lay off action so they don’t get killed so if someone burns them you aren’t getting another book to play with until you settle your debts

 

[Ant3411]

Do you really need this if you can make bets on your smart phone?

Fair point - but in my mind I would actually love going to Bobby V's, placing a bet, and then eat/drink watching the game that I bet on. I guess I'm just itching to get out of my house after these past 12 months.

 

[McLovin]

Good for the state. As someone who doesn't smoke weed and rarely bets on games why do people who smoke weed and bet on games want to do it through the state?

I don't smoke weed so I don't have an answer for that, but for betting it is way better that they legalized it in Tennessee for a few reasons...

1) I don't have to give my credit card / bank info to some sketchy site. Just linked my preexisting DraftKings DFS account to my new DraftKings Sportsbook app.
2) I can take legal recourse if something goes wrong (I've been stiffed by bookies before and nothing I could do).

I guess for me personally, I prefer these things be legal (but not government run) for the same reason I prefer to buy my medicine from a pharmacy, buy liquor at a package store or deposit my money at an FDIC insured financial institution. Some level of consumer protection vs transacting with some stranger on the streets.

 

[The Viking]

I've never used a bookie, and I'm not worried about the state taking in a little more because I plan on winning 90% of the time anyway

 

[JohnFSilver]

Um because then you are not breaking the law?

Um because then you are not supporting organized crime? Do you know how much violence is created out of black market drugs and betting?

I think the ease of apps work too.

One of the guys I talk to is a big into this. It is the live in-game betting with apps as what is really fun. Things like third quarter bets and parlays etc. Or, betting on a tennis tournament live.

It is more than just taking the Giants and the points. Odds change in real time in some of these instances. Tennis is what I heard is a lot of fun to bet.

 

[AD DB Burner]

That's funny. My uncle and grandfather were both bookies and I grew up with them taking bets at the dinner table while I was doing my homework. Phone ringing off the hook, them scratching bets down in a notebook. Weird to think of some similar thing still happening today.

I think most bookies these days are setup with offshore websites and they in turn provide you with a login and password and setup your account with whichever settings you agree to with them.

For me, each week I start with the same beginning balance on Monday and I am hard capped on the site in terms of the amount I can risk for each rotation number.

 

[August_West]

Bookies aren't breaking legs anymore.

Betting is not illegal. Accepting bets and being a book is illegal

exactly. So if you are placing a bet with someone who illegaly accepts bets you are giving money to organized crime. Yes or no?

And bookies absolutely still break legs. Try running a five figure debt with one where you cant pay. Get back to me on the outcome.

 

[UconnU]

How is this going to be taxed? You need taxes to be low on this type of stuff for it to make sense. Any edge you have is going to be marginal to begin with. If people are losing too much they will just go back to their bookie. The risk of using a black market bookie is so low.

 

[Waquoit]

How is this going to be taxed? You need taxes to be low on this type of stuff for it to make sense. Any edge you have is going to be marginal to begin with. If people are losing too much they will just go back to their bookie. The risk of using a black market bookie is so low.

Unless there’s some new rules I don’t know about, your basic sports bet is not going to be taxed. The state takes their cut out of whoever takes the bet. That’s why when someone says they use a bookie to avoid taxes I don’t know what they’re talking about.

 

[methodology]

exactly. So if you are placing a bet with someone who illegaly accepts bets you are giving money to organized crime. Yes or no?

And bookies absolutely still break legs. Try running a five figure debt with one where you cant pay. Get back to me on the outcome.

Been there done that vouched for wrong person and I was on the hook. $35k wasn’t harmed cut a deal and I never gave up my buddy which gained me much respect with those real deal guys

they will go to every extent to not resort to violence. Things have changed they use different routes now

 

[methodology]

Unless there’s some new rules I don’t know about, your basic sports bet is not going to be taxed. The state takes their cut out of whoever takes the bet. That’s why when someone says they use a bookie to avoid taxes I don’t know what they’re talking about.

The state keeps records of your winnings and you might get a w-2g. The state already knows what you wagered and won and you will have paid taxes not worth it to have an IRS audit for trying to hide it from federal government

 

[HuskyAlum012]

The state keeps records of your winnings and you might get a w-2g. The state already knows what you wagered and won and you will have paid taxes not worth it to have an IRS audit for trying to hide it from federal government

Just do what everyone else does if you are lucky enough to claim winnings. Head to your local sports book/OTB and pickup all the losing tickets to claim those against your winnings.

 

[superjohn]

Been there done that vouched for wrong person and I was on the hook. $35k wasn’t harmed cut a deal and I never gave up my buddy which gained me much respect with those real deal guys

they will go to every extent to not resort to violence. Things have changed they use different routes now

I knew a guy who got caught up like that, they got what money they could get out of him and made him lose his job. He was pretty much forced to move and moved to Vegas, where he's a professional gambler last I heard.

 

[MJ1]

Thanks for the feedback on Sport Tech and Sports Haven, I did not see that. New Haven is much closer than Mohegan Sun.

 

[Waquoit]

The state keeps records of your winnings and you might get a w-2g. The state already knows what you wagered and won and you will have paid taxes not worth it to have an IRS audit for trying to hide it from federal government

What are you talking about? How does the state know?