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Started By
Message
Anyone quitting online betting in 2026 with the new laws?
Posted on 12/20/25 at 11:06 pm
Posted on 12/20/25 at 11:06 pm
1)Win 100K
Lose 100K
Net breakeven
Owe taxes on 10K
I think I'm going to hang it up .
Lose 100K
Net breakeven
Owe taxes on 10K
quote:
Hot Streak Year — Now picture a banner year: $50,000 in winnings against $30,000 in losses. At first blush, you might assume your tax liability shrinks by the full $30,000. But after applying the 90 percent cap (0.9 × $30,000 = $27,000), you end up reporting $23,000 in net gambling income. The reward of a hot streak remains substantial, but the haircut on losses means you pay more tax than under current rules.
I think I'm going to hang it up .
17
Posted on 12/20/25 at 11:09 pm to lsu xman
How much are you betting that this would even matter to you
Posted on 12/20/25 at 11:15 pm to lsu xman
I probably bet about $2500 over a year period. Don't think this will affect me.
Posted on 12/20/25 at 11:17 pm to lsu xman
I book local
Posted on 12/20/25 at 11:18 pm to lsu xman
quote:
I think I'm going to hang it up .
You're a gay
Posted on 12/20/25 at 11:18 pm to T1gerNate
Very big amount.
But winning less than 5K.
But winning less than 5K.
This post was edited on 12/20/25 at 11:21 pm
Posted on 12/20/25 at 11:20 pm to lsu xman
Keeping an exact P/L statement on football wagers. 
Posted on 12/20/25 at 11:23 pm to lsu xman
Don’t lose then. That’s my plan. Only degenerates hang it up.
Posted on 12/20/25 at 11:29 pm to lsu xman
You can use Betonline or Bookmaker. They pay super fast now and all take CCs. Zero taxes. You can get a debit card and withdraw cash from ATMs.
This post was edited on 12/20/25 at 11:30 pm
Posted on 12/20/25 at 11:54 pm to SirWinston
Thanks I'll look into that.
Posted on 12/21/25 at 12:02 am to lsu xman
I’m not a degen, so I don’t gamble
Posted on 12/21/25 at 12:38 am to lsu xman
Hopefully this helps bring back the local mob bookie.
Posted on 12/21/25 at 6:51 am to SirWinston
quote:
You can use Betonline or Bookmaker. They pay super fast now and all take CCs. Zero taxes. You can get a debit card and withdraw cash from ATMs.
This is how you end up in the federal prison system
Posted on 12/21/25 at 6:57 am to The Pickwick
quote:
This is how you end up in the federal prison system
You think using Betonline would get you arrested? Comical.
Posted on 12/21/25 at 7:09 am to nola tiger lsu
Not reporting income will.
Posted on 12/21/25 at 7:32 am to lsu xman
I gave sports betting a whirl last year and to me it’s just lame. Don’t understand how or why people are obsessed with it.
Posted on 12/21/25 at 7:38 am to lsu xman
Is this a Louisiana law or federal?
Posted on 12/21/25 at 7:59 am to lsu xman
quote:
Very big amount. But winning less than 5K.
So risking a “big amount” of money for a relatively small gain? Dumb. You’d be better off just putting the money in a CD or something. Or, better yet, investing it in index funds like someone who’s not a complete retard.
Posted on 12/21/25 at 8:05 am to lsu xman
Can I deduct sports tickets as R&D for my gambling business?
Allowing any losses on your tax return for gambling is stupid.
It’s gambling. If it must be legal, and it probably must be, apply ahead healthy tax to it.
Allowing any losses on your tax return for gambling is stupid.
It’s gambling. If it must be legal, and it probably must be, apply ahead healthy tax to it.
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