Some guy vs MGM Grand

[Tron]

common Cardinals one time




The link shows the two tickets

http://deadspin.com/5851837/the-man...-the-race-is-looking-smart-and-rich-right-now

The Man Who Bet The Cardinals At 999/1 When They Were Out Of The Race Is Looking Smart And Rich Right Now

Vegas loves long shots. When statistics and history scream against the possibility of a miracle, Vegas can always count on the dreamers and the fools to put down cash in the hope of a once-in-a-lifetime payout. It's free money for the house, 999 times out of 1,000.
...

 

[Tron]

sports (?)

 

[stevek173]

Pretty fuckign cool Daft

Hope he wins

 

[reno cool]

true odds were probably 5000/1

 

[Archie]

that is awesome, gotta wonder how much he hedges to lock in some profit

 

[roguejuror]

true odds were probably 5000/1

that was my first thought

 

[betplom]

that is awesome, gotta wonder how much he hedges to lock in some profit

He already has a profit. He got 500-1 on the Cards reaching the World Series.

 

[betplom]

Bump for BlittyDeuce

 

[FreeFall]

I don't see why this is so cool? This happens yearly for them on futures. Ask MGM how much they made on every other team that is losing those bets. They still come out ahead...

 

[betplom]

I don't see why this is so cool? This happens yearly for them on futures. Ask MGM how much they made on every other team that is losing those bets. They still come out ahead...

It's cool because some dude that basically threw away $500 stands to cash a nice sum - $48,000 after taxes.

 

[FreeFall]

It's cool because some dude that basically threw away $500 stands to cash a nice sum - $48,000 after taxes.

I'd rather it be one of you guys

 

[CASPERWAIT$]

It's cool because some dude that basically threw away $500 stands to cash a nice sum - $48,000 after taxes.

I am thinking he will walk away with a tad more than that.

 

[betplom]

I am thinking he will walk away with a tad more than that.

I know, I'm exaggerating but the point is you guys pay ridiculous taxes on gambling wins. Doesn't seem fair at all.

What if you were a slots player that was down $20k in a year and hit a $10K payout? They want the tax money even though this "win" doesn't cover your accumulated losses.

 

[CASPERWAIT$]

I know, I'm exaggerating but the point is you guys pay ridiculous taxes on gambling wins. Doesn't seem fair at all.

What if you were a slots player that was down $20k in a year and hit a $10K payout? They want the tax money even though this "win" doesn't cover your accumulated losses.

Actually no. If you lose $20,000 in slots and win $10,000 you do not have to pay the taxes on the winnings.

 

[betplom]

Actually no. If you lose $20,000 in slots and win $10,000 you do not have to pay the taxes on the winnings.

Thats how it should be.

Plommer has hit more than a few big payouts (Triactors, pick3, win-4 superfectas) at the track and received his full payout each time.
In Canada gambling wins are not taxed.

 

[reno cool]

you can write off loses up to winnings for a given year if you itemize your deductions. But if you had 5 losing years and on the 6th hit a jackpot which doesn't get you even you still pay taxes on the whole amount.

 

[Tron]

I don't see why this is so cool? This happens yearly for them on futures. Ask MGM how much they made on every other team that is losing those bets. They still come out ahead...

There's no way you read the whole article. It was not a normal MLB futures article.

No soup for you.

 

[betplom]

you can write off loses up to winnings for a given year if you itemize your deductions. But if you had 5 losing years and on the 6th hit a jackpot which doesn't get you even you still pay taxes on the whole amount.

This is a better example of what I was trying to communicate.

Reno, I forgive you for your "shots on goal" comment in another thread.