Affects Of The New Gambling Tax Law

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Originally Posted by redietz

I find it fascinating that mickey is going to argue with me, instead of Dancer, about why Dancer says he'll retire at the end of the year. Dancer has stated it clearly and unequivocally a dozen times on his blog, and pretty much in every other post. He is retiring because of the tax laws. Not because he's limited in mobility. Not because he's worn out.

Because of the tax laws.

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I haven't posted in this thread because as a table game advantage player, that plays anonymously (as most table game APs do), this has zero effect on me. :rolleyes:

But I will say this: Dietz is wrong as he almost always is here. And what I mean by that is NO AP, playing rated, playing machines, as so many are now doing with slots, is going to retire because of this law. APs figure ways around things like this. And there are several ways around this that I think everyone recognizes and a couple that maybe some don't. Again NO AP is retiring because of this law!! Period. :cool:

I don't follow Bob Dancer. Don't read his blog or anything else. I am sorry to hear that he is having mobility issues. That kind of thing really makes life less fun and pleasurable for anyone. I don't wish that on even the worst KJ haters.

Dancer can say whatever he wants, but if he is retiring, it isn't strictly about this law. He is probably just ready to retire.

For Dietz, a guy who claimed to have spent 100 days a year in Vegas (haven't seen much mention of it this year), he seems to have very little clue about advantage play and advantage players. Of course he is a tout, so I guess no need to. :rolleyes:

Now I will tell you...there is a member of this forum that claims to be a big winning table game player while playing rated, so he gets all the comps. IF his fairytale were true, this would be a problem for him. But since nothing about his story is true, he might just lose a bit more of his family money, getting those overvalued comps.

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Originally Posted by kewlJ

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Originally Posted by redietz

I

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I NO AP, playing rated, playing machines, as so many are now doing with slots, is going to retire because of this law. APs figure ways around things like this. And there are several ways around this that I think everyone recognizes and a couple that maybe some don't.

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Name a few.

Would this work>

Claim $100K in winnings and @120K in losses...should be zero tax due, correct?

Or am I confused...(not the first time).

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Originally Posted by MisterV

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Originally Posted by kewlJ

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Originally Posted by redietz

I

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I NO AP, playing rated, playing machines, as so many are now doing with slots, is going to retire because of this law. APs figure ways around things like this. And there are several ways around this that I think everyone recognizes and a couple that maybe some don't.

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Name a few.

Would this work>

Claim $100K in winnings and @120K in losses...should be zero tax due, correct?

Or am I confused...(not the first time).

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You could NEVER do that. You could only claim losses up to the amount you won. (offset). So NO. unless that has changed which I am not aware of.

And I am not going to recommend anything. I don't want to be accused of recommending anything illegal to players. BUT really this law (part of the big beautiful bill wasn't it?) This new law is a nothing burger.

And how is it going to be enforced? IRS has been short staffed for years, decades. And that was before Elon Musk took a chainsaw to the agency. And before Trump is permanently laying off even more.

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Originally Posted by MDawg

It also burns UNKewlJ to no end that even more posters at WOV have in recent times been expressing back up for MDawg's winning ways. Aneurisms coming galore for the perennially UNKewl one....

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