CT Sports Betting coming very soon

[UconnU]

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.

That’s interesting. So when you cash out on a legal sports betting app they do not withhold anything from your earnings?

 

[Waquoit]

That’s interesting. So when you cash out on a legal sports betting app they do not withhold anything from your earnings?

I can only say how it works in horse racing. I use an online service for all my bets. I deposit money and bet off what I deposit. They do front you the money in the respect that you can start betting right away. They don't make you wait for the transaction to clear.

I have made about 800 bets this year and have cashed about 48. No tax has been taken out of any bet. I had a Pick 4 that paid $1,800 that not only had no taxes taken out but wasn't even reported to the IRS because it didn't hit the 300-1 threshold. When you take money out of your account, they don't take any money out for taxes ever. If you are lucky enough to hit a big one, they take the tax out first then deposit the balance in your account.

 

[August_West]

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

Sounds like a real hoot

 

[HuskyAlum012]

Mashantucket Pequots join Mohegans, agree to revised sports betting deal

The last piece of a deal aimed at legalizing sports betting and online gambling fell into place Thursday with the Mashantucket Pequots accepting a revised version of terms unexpectedly announced two weeks ago by Gov. Ned Lamont and the Mohegan Tribal Nation.

ctmirror.org

Foxwoods tribe officially on board

 

[nelsonmuntz]

Mashantucket Pequots join Mohegans, agree to revised sports betting deal

The last piece of a deal aimed at legalizing sports betting and online gambling fell into place Thursday with the Mashantucket Pequots accepting a revised version of terms unexpectedly announced two weeks ago by Gov. Ned Lamont and the Mohegan Tribal Nation.

ctmirror.org

Foxwoods tribe officially on board

I feel like the State of Connecticut's situation with the two tribes is on shakier legal ground than the 1992 law that was struck down in 2018, opening the way for sports betting in CT.

https://www.cnn.com/2018/05/14/politics/sports-betting-ncaa-supreme-court/index.html

How can Connecticut authorize which parties can handle sports betting on any basis other than an objective standard that any party can meet? Put another way, the state can't pick winners.