Comments on: Man Denies Trying To Dishonestly Obtain $25K

By: Treble

Treble — Sun, 22 Jun 2014 16:23:38 +0000

Seahorses used to give you a bonus 10% on your winning on football games. They no longer give you the bonus 10% bonus but instead pay the tax on your behalf. They don’t do it on all sports betting, I think just football and maybe golf.

There is still a 20% tax and they still pay it. They, like all other gaming shops are audited regularly. They just pay it for you and it makes better business sense.

A $10 bet on USA to Beat Portugal by 3 – 1 has 41 to 1 odds. If they pay the tax that will cost them $2 and if they win. They are $8 ahead. If you win they would pay out $410 + that 10% bonus would be an extra extra $41.00.

By: Mom to be

Mom to be — Sun, 22 Jun 2014 02:48:51 +0000

They are not covering the 20% on every bet placed. The tax either no longer exists or they are not collecting the taxes that are due.

By: BobtheBuilder

BobtheBuilder — Sat, 21 Jun 2014 21:58:55 +0000

They’re paying your taxes instead of paying the 10% on top of trebles and upwards for soccer so that they can save money.

By: Simon

Simon — Sat, 21 Jun 2014 12:47:08 +0000

Interesting story. Can someone explain to me why tax is no longer applicable on bets at sea horses, I thought it was 20% but it no longer applies. Was there a change in the law?