I’m not sure how this plays out down the road ( I personally won’t be changing who I bet with regaulrily outside of being in AC for SB, MM, opening MLB etc.) but legal gambling and marajuana have the chance to really bust up the mob as those are 2 blue collar staples. The construction, garbage and union guys will always have $ and their current relationship based way of doing things but if there is a big dent in these businesses then the mob will likely be on its last leg as the typical Nicky Knocker can’t earn, kick up and keep this thing going.
It’s funny how the best way for the govt to break up the mob is by taking their best rackets lol , the irony
Supreme Court Ruling on Sports Betting
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willychichi
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Re: Supreme Court Ruling on Sports Betting
Rhode Island Sports Betting Heads To Senate For Final Vote
Rhode Island is on the precipice of legal sports betting. This afternoon, the Senate Finance Committee advanced a budget package that includes provisions to regulate the industry under state operation. The House passed the $9.6 billion package last week, and the Senate is expected to cast its vote on Wednesday. Its approval could be the last legislative step before the bill returns to Gov. Gina Raimondo for her signature.
Read more: https://www.legalsportsreport.com/21359 ... nate-vote/
Rhode Island is on the precipice of legal sports betting. This afternoon, the Senate Finance Committee advanced a budget package that includes provisions to regulate the industry under state operation. The House passed the $9.6 billion package last week, and the Senate is expected to cast its vote on Wednesday. Its approval could be the last legislative step before the bill returns to Gov. Gina Raimondo for her signature.
Read more: https://www.legalsportsreport.com/21359 ... nate-vote/
Obama's a pimp he coulda never outfought Trump, but I didn't know it till this day that it was Putin all along.
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NJShore4Life
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Re: Supreme Court Ruling on Sports Betting
Drive to Monmouth Park so you can pay taxes if you win. Is that what they're hoping?NJShore4Life wrote: ↑Wed Jun 20, 2018 6:50 pm https://www.app.com/story/sports/2018/0 ... 700845002/
All roads lead to New York.
Re: Supreme Court Ruling on Sports Betting
Do the bettors pay the 8.5 tax when they cash there ticket or does the casino pay that tax ?
"if he's such A sports wizard , whys he tending bar ?" Nicky Scarfo
Re: Supreme Court Ruling on Sports Betting
Good question. OTB i won $1800 and filled out a W whatever then put it on my taxes when i filed. Gave to my accountant. Then he said I lost -2000 so my gambling was -200
Salude!
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willychichi
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Re: Supreme Court Ruling on Sports Betting
Sports betting legalized in Mississippi casinos
http://www.msnewsnow.com/story/38477748 ... pi-casinos
http://www.msnewsnow.com/story/38477748 ... pi-casinos
Obama's a pimp he coulda never outfought Trump, but I didn't know it till this day that it was Putin all along.
Re: Supreme Court Ruling on Sports Betting
there must be other ways of earning cash, as ive said before im from across in Scotland where there is a bookies on every row of shops, always found it mental in America that you cant just walk into a bookies and whack some bets on. no tax etc either its 100% legal. Main organised crime here is drugs though, varying from smack for the junkies to the massive cocaine market here(everyone and their dog is on it) I know NY families have had varying success in the drug market and are always under a watchful eye, but id imagine its the only thing that can bring in that kind of revenue for street guys and associates who as you say, don't have the upper guys union and construction ties etc. will be interesting to see how they get on none the less. Might find they are okay as Ive read on here etc that a lot of bets are on tick and the govt bets will be taking a % cut.TommyNoto wrote: ↑Sat Jun 16, 2018 8:18 am I’m not sure how this plays out down the road ( I personally won’t be changing who I bet with regaulrily outside of being in AC for SB, MM, opening MLB etc.) but legal gambling and marajuana have the chance to really bust up the mob as those are 2 blue collar staples. The construction, garbage and union guys will always have $ and their current relationship based way of doing things but if there is a big dent in these businesses then the mob will likely be on its last leg as the typical Nicky Knocker can’t earn, kick up and keep this thing going.
It’s funny how the best way for the govt to break up the mob is by taking their best rackets lol , the irony
Re: Supreme Court Ruling on Sports Betting
Its different for horses
It appears in jersey
8.5 tax on a winning wager , so for example I place a bet -110 to win a 100, if that tickets wins it pays back 210, so at that point does the bettor pay the 8.5 percent tax , meaning they take 8.5 x 100= 91.5 so instead of 210 back the better would get 201.5? If that’s the case it amounts to juice on winner wagers and you can not win , you will get clobbered in the long haul
And how does this play into taxes at the end of the year ? As you stated you can write losses of against wins .
Or does the casino pay the tax if the ticket loses ?
"if he's such A sports wizard , whys he tending bar ?" Nicky Scarfo
Re: Supreme Court Ruling on Sports Betting
no clue. this thing happened so fast I dont think they had a their ducks in a row
Salude!
Re: Supreme Court Ruling on Sports Betting
Your Neighborhood Sports activities Bookie Isn't Going Anywhere
As states legalize sports betting, the underground market is poised to endure; ‘Do you really want a record that you are gambling?’
By Brian Costa and Zolan Kanno-Youngs
June 26, 2018
Among the many many individuals with a vested curiosity within the legalization of sports activities betting within the U.S. is a 35-year-old man residing within the Washington, D.C., space. An web marketer by day, he bets round $15,000 on a typical evening via an offshore web site referred to as BetUS, which masks its id on his bank card statements to keep away from authorized scrutiny. He receives his winnings via a reloadable MasterCard prepaid card.
But as states create a authorized sports activities playing infrastructure following a landmark U.S. Supreme Court docket ruling in Could, this man mentioned he´s more likely to stay loyal to his most popular unlawful sportsbook. “One factor the legit websites wouldn't capable to compete with is avoiding taxes,” he mentioned.
The ruling placing down a federal ban on sports activities betting has been considered as a risk to the way forward for an underground market run by native bookmakers and offshore web sites. However interviews with gamblers, a bookie and authorized consultants counsel that authorized sports activities betting won’t merely change unlawful sports activities betting.
The American Gaming Affiliation estimates that People illegally wager $150 billion a yr on sporting occasions, 30 occasions the quantity legally wagered in Nevada and Delaware in 2017. That disparity may begin to change dramatically within the close to future—New Jersey and Delaware have already carried out sports activities playing, with Rhode Island, Mississippi and West Virginia set to hitch them quickly. But not the entire unlawful market is anticipated to maneuver aboveboard.
“The legalization of sports activities betting is just not the loss of life knell by any stretch of the creativeness to the underground sports activities betting economic system,” mentioned Daniel Etna, co-chair of the sports activities legislation group at Herrick Feinstein LLP.
Etna cited uncertainty concerning the stage of comfort authorized betting will provide, the potential problem of inserting bets throughout state strains and the charges that states will search to impose on sportsbooks. Pennsylvania, as an example, has proposed a 36% tax on gaming income. Sports activities leagues are in search of their minimize within the type of “integrity charges.” These prices determine to be handed on to gamblers.
“For me, somebody who’s inserting $10 on a wager, that $1 is sort of a giant distinction,” mentioned a 24-year-old Brooklyn man who bets on sports activities via a bookie. “I nonetheless suppose I might go the authorized route due to the benefit of it however somebody like me, or somebody who’s not betting so much, it´s going to make a big effect.”
Unlawful sportsbooks retain strengths that their authorized rivals could wrestle to match. For individuals who wager with native bookies, these embody the power to make wagers with out making an preliminary deposit, as is in any other case sometimes required, and the face-to-face nature of transactions. With bookies or offshore sportsbooks—that are based mostly in such international locations as Antigua and Barbuda and Costa Rica—bets are typically untraceable, which has advantages past avoiding taxes.
“Do you actually need a document that you´re playing 1000’s of {dollars}?” mentioned Jeremy Saland, a former Manhattan prosecutor and legal protection legal professional who represents purchasers concerned in alleged playing enterprises. “Might this info fall into the arms of divorce attorneys when one partner goes after the property of one other? Enterprise companions? Potential purchasers? Individuals need to hold a lid on playing whether or not it’s authorized or not.”
Saland likened it to the marijuana market. At the same time as some states have legalized the sale of the drug, a multi-billion-dollar underground marketplace for it has endured.
“Persons are nonetheless going to make use of guys like us,” mentioned a 22-year-old man in Boston who not too long ago labored as a bookie, although he mentioned the unlawful enterprise isn’t straightforward.
A latest school graduate, this man mentioned his enterprise was born in August 2016 over dinner with associates. Considered one of his extra prosperous associates who’s well-connected within the metropolis urged that he begin his personal sportsbook. “Somebody says you already know sufficient wealthy youngsters at school to start out your personal e-book,” he mentioned.
One good friend, identified within the enterprise as “Invoice the Tablemaker,” agreed to be the banker and invested $50,000 within the operation. They used a few of that cash to purchase licensing usernames to a playing web site the place they´d place their bets. Every week, his associates would dial right into a convention name the place they´d study a spreadsheet of the winners and losers of the operation.
The bookie and his associates would recruit individuals to wager via them and they´d accumulate 10% of the losses. He mentioned he collected no less than $7,000 per week from bettors and pocketed about $700. If a bettor refused to pay, they enlisted the assistance of a person they referred to as “Mickey the Collector,” who at occasions bodily assaulted these behind on funds.
“You by no means need to name Mickey until it’s the final straw,” he mentioned. “Mickey will get referred to as in when somebody hasn’t picked up their cellphone in a month. Or somebody all of a sudden says they’re transferring to Florida.”
His operation acquired into hassle when one affiliate mentioned his bettors nonetheless owed him about $116,000. The bookie and Invoice the Tablemaker confronted the affiliate and located that he had been betting below one of many usernames and dropping, creating the outlet. The bookie mentioned Invoice took $30,000 from the affiliate, left him alone and ended the e-book.
“The toughest a part of this enterprise, this unregulated enterprise, is regulating it ourselves,” he mentioned.
Likewise, betting illegally poses dangers for gamblers. The D.C.-area web marketer mentioned he positioned bets for years with Bovada, a well-liked offshore betting website. Then one week, he went on a tear, turning a $500 deposit into $12,000 in winnings in a pair days. He mentioned Bovada promptly refunded his deposit, claiming it didn’t undergo, and invalidated his winnings. The corporate didn’t reply to cellphone and electronic mail requests for remark.
Such dangers are why some native bookies have survived the rise of on-line sportsbooks. Their private enchantment could but permit them to outlive the rise of authorized sports activities betting.
“Truthfully, in less complicated phrases,” the Boston bookie mentioned, “it’s simply a lot simpler to take care of individuals like me.”
https://www.wsj.com/articles/your-neigh ... ajor_pos25
As states legalize sports betting, the underground market is poised to endure; ‘Do you really want a record that you are gambling?’
By Brian Costa and Zolan Kanno-Youngs
June 26, 2018
Among the many many individuals with a vested curiosity within the legalization of sports activities betting within the U.S. is a 35-year-old man residing within the Washington, D.C., space. An web marketer by day, he bets round $15,000 on a typical evening via an offshore web site referred to as BetUS, which masks its id on his bank card statements to keep away from authorized scrutiny. He receives his winnings via a reloadable MasterCard prepaid card.
But as states create a authorized sports activities playing infrastructure following a landmark U.S. Supreme Court docket ruling in Could, this man mentioned he´s more likely to stay loyal to his most popular unlawful sportsbook. “One factor the legit websites wouldn't capable to compete with is avoiding taxes,” he mentioned.
The ruling placing down a federal ban on sports activities betting has been considered as a risk to the way forward for an underground market run by native bookmakers and offshore web sites. However interviews with gamblers, a bookie and authorized consultants counsel that authorized sports activities betting won’t merely change unlawful sports activities betting.
The American Gaming Affiliation estimates that People illegally wager $150 billion a yr on sporting occasions, 30 occasions the quantity legally wagered in Nevada and Delaware in 2017. That disparity may begin to change dramatically within the close to future—New Jersey and Delaware have already carried out sports activities playing, with Rhode Island, Mississippi and West Virginia set to hitch them quickly. But not the entire unlawful market is anticipated to maneuver aboveboard.
“The legalization of sports activities betting is just not the loss of life knell by any stretch of the creativeness to the underground sports activities betting economic system,” mentioned Daniel Etna, co-chair of the sports activities legislation group at Herrick Feinstein LLP.
Etna cited uncertainty concerning the stage of comfort authorized betting will provide, the potential problem of inserting bets throughout state strains and the charges that states will search to impose on sportsbooks. Pennsylvania, as an example, has proposed a 36% tax on gaming income. Sports activities leagues are in search of their minimize within the type of “integrity charges.” These prices determine to be handed on to gamblers.
“For me, somebody who’s inserting $10 on a wager, that $1 is sort of a giant distinction,” mentioned a 24-year-old Brooklyn man who bets on sports activities via a bookie. “I nonetheless suppose I might go the authorized route due to the benefit of it however somebody like me, or somebody who’s not betting so much, it´s going to make a big effect.”
Unlawful sportsbooks retain strengths that their authorized rivals could wrestle to match. For individuals who wager with native bookies, these embody the power to make wagers with out making an preliminary deposit, as is in any other case sometimes required, and the face-to-face nature of transactions. With bookies or offshore sportsbooks—that are based mostly in such international locations as Antigua and Barbuda and Costa Rica—bets are typically untraceable, which has advantages past avoiding taxes.
“Do you actually need a document that you´re playing 1000’s of {dollars}?” mentioned Jeremy Saland, a former Manhattan prosecutor and legal protection legal professional who represents purchasers concerned in alleged playing enterprises. “Might this info fall into the arms of divorce attorneys when one partner goes after the property of one other? Enterprise companions? Potential purchasers? Individuals need to hold a lid on playing whether or not it’s authorized or not.”
Saland likened it to the marijuana market. At the same time as some states have legalized the sale of the drug, a multi-billion-dollar underground marketplace for it has endured.
“Persons are nonetheless going to make use of guys like us,” mentioned a 22-year-old man in Boston who not too long ago labored as a bookie, although he mentioned the unlawful enterprise isn’t straightforward.
A latest school graduate, this man mentioned his enterprise was born in August 2016 over dinner with associates. Considered one of his extra prosperous associates who’s well-connected within the metropolis urged that he begin his personal sportsbook. “Somebody says you already know sufficient wealthy youngsters at school to start out your personal e-book,” he mentioned.
One good friend, identified within the enterprise as “Invoice the Tablemaker,” agreed to be the banker and invested $50,000 within the operation. They used a few of that cash to purchase licensing usernames to a playing web site the place they´d place their bets. Every week, his associates would dial right into a convention name the place they´d study a spreadsheet of the winners and losers of the operation.
The bookie and his associates would recruit individuals to wager via them and they´d accumulate 10% of the losses. He mentioned he collected no less than $7,000 per week from bettors and pocketed about $700. If a bettor refused to pay, they enlisted the assistance of a person they referred to as “Mickey the Collector,” who at occasions bodily assaulted these behind on funds.
“You by no means need to name Mickey until it’s the final straw,” he mentioned. “Mickey will get referred to as in when somebody hasn’t picked up their cellphone in a month. Or somebody all of a sudden says they’re transferring to Florida.”
His operation acquired into hassle when one affiliate mentioned his bettors nonetheless owed him about $116,000. The bookie and Invoice the Tablemaker confronted the affiliate and located that he had been betting below one of many usernames and dropping, creating the outlet. The bookie mentioned Invoice took $30,000 from the affiliate, left him alone and ended the e-book.
“The toughest a part of this enterprise, this unregulated enterprise, is regulating it ourselves,” he mentioned.
Likewise, betting illegally poses dangers for gamblers. The D.C.-area web marketer mentioned he positioned bets for years with Bovada, a well-liked offshore betting website. Then one week, he went on a tear, turning a $500 deposit into $12,000 in winnings in a pair days. He mentioned Bovada promptly refunded his deposit, claiming it didn’t undergo, and invalidated his winnings. The corporate didn’t reply to cellphone and electronic mail requests for remark.
Such dangers are why some native bookies have survived the rise of on-line sportsbooks. Their private enchantment could but permit them to outlive the rise of authorized sports activities betting.
“Truthfully, in less complicated phrases,” the Boston bookie mentioned, “it’s simply a lot simpler to take care of individuals like me.”
https://www.wsj.com/articles/your-neigh ... ajor_pos25
All roads lead to New York.
Re: Supreme Court Ruling on Sports Betting
Cheech is right that they don’t have their ducks in a row yet as Monmouth opening weekend was pretty sloppy but they have improved and last weekend had a solid amount of activity.
It will be interesting to see how much action the state gets but the credit and tax part is a big deal.
Was just reading that Gambino / Philly betting arguement and I have no bone to pick with anyone but Cheech is right as almost 99% of Perna and any wise guy bets is done via in person . I’m a $100 bettor and don’t meet up with my guy until it’s + / - $1,000 .
There was a day where a US bettor could gamble using a credit card and it was very easy but Republicans passed a law that made that very hard like 10 years ago . I used to use Pinnacle due to less juice but then I had to use specific gift cards to fund and it became to difficult so the wise guy book was the route I went and their business must of exploded after that law was passed . Also some of those legal off shore books were hard to get your winning $ out .
Truth be told the wise guys should do alright as they have the best service plus credit and tax advantage .
Like I said it’s getting pretty blatant now as Bodegas in JC are taking action and I’m curious who they are kicking up to ( west side or Latin gangs ? ) I wouldn’t be surprised if either but my guess is Westside as they have all sorts of gambling service business and layoffs that are needed to run a good book .
It will be interesting to see how much action the state gets but the credit and tax part is a big deal.
Was just reading that Gambino / Philly betting arguement and I have no bone to pick with anyone but Cheech is right as almost 99% of Perna and any wise guy bets is done via in person . I’m a $100 bettor and don’t meet up with my guy until it’s + / - $1,000 .
There was a day where a US bettor could gamble using a credit card and it was very easy but Republicans passed a law that made that very hard like 10 years ago . I used to use Pinnacle due to less juice but then I had to use specific gift cards to fund and it became to difficult so the wise guy book was the route I went and their business must of exploded after that law was passed . Also some of those legal off shore books were hard to get your winning $ out .
Truth be told the wise guys should do alright as they have the best service plus credit and tax advantage .
Like I said it’s getting pretty blatant now as Bodegas in JC are taking action and I’m curious who they are kicking up to ( west side or Latin gangs ? ) I wouldn’t be surprised if either but my guess is Westside as they have all sorts of gambling service business and layoffs that are needed to run a good book .
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NJShore4Life
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Re: Supreme Court Ruling on Sports Betting
Noto - Are you DB on GG forum? I’m Dante over there
Re: Supreme Court Ruling on Sports Betting
Same thing in Ct. I got a guy but bodegas all over are taking action I know of a few so there's got to be many more I know a Dominican guy that has a few stores and two of them do it and I talked to him about it cause I always wondered if or who they kicked up tonite I didn't come out and directly ask him but from the way he was talking it didn't sound like he was kicking up to anybody but you'd think hes gotta be right.I know at least 5 guys that go to a bodega and they pick what they want ,pay,and then get a printout,if they win they bring it back and get paid I've seen the printouts but these are guys who just play ,the guys I know that are serious players all have a guy I personally know no one that bets Regularly on betting websites ,only guys I know that do that are ones that play poker
Re: Supreme Court Ruling on Sports Betting
The other thread was locked before I could add this but I skimmed through the entire Lucchese affidavit again. Lots of things about "settle up days," "collecting money from package holders/agents," "collecting/paying wins and losses to agents and bettors on a weekly basis," "shutting off access to package holders with outstanding debts," "directing agents who to pay," "meeting at a rest area on a number of occassions for the purposes of settling numbers and exchanging money," "picking up $5,000 for payouts to agents for payments to winning bettors," "waiting for delinquent bettors at their places of employment or their homes," etc.TommyNoto wrote: ↑Tue Jun 26, 2018 2:14 pm Cheech is right that they don’t have their ducks in a row yet as Monmouth opening weekend was pretty sloppy but they have improved and last weekend had a solid amount of activity.
It will be interesting to see how much action the state gets but the credit and tax part is a big deal.
Was just reading that Gambino / Philly betting arguement and I have no bone to pick with anyone but Cheech is right as almost 99% of Perna and any wise guy bets is done via in person . I’m a $100 bettor and don’t meet up with my guy until it’s + / - $1,000 .
There was a day where a US bettor could gamble using a credit card and it was very easy but Republicans passed a law that made that very hard like 10 years ago . I used to use Pinnacle due to less juice but then I had to use specific gift cards to fund and it became to difficult so the wise guy book was the route I went and their business must of exploded after that law was passed . Also some of those legal off shore books were hard to get your winning $ out .
Truth be told the wise guys should do alright as they have the best service plus credit and tax advantage .
Like I said it’s getting pretty blatant now as Bodegas in JC are taking action and I’m curious who they are kicking up to ( west side or Latin gangs ? ) I wouldn’t be surprised if either but my guess is Westside as they have all sorts of gambling service business and layoffs that are needed to run a good book .
And to sum it up, towards the end one part says, "The proceeds of these illicit activities among members of the enterprise in the form of personal transactions at various drop off and pick points throughout New Jersey and New York."
Nothing about players using credit cards or depositing money in an online account.
As to the amount of money that was said to be handled, and how they came to that figure, on page 166 it reads -
"It has been determined that each individual wager is assigned a ticket number when placed which assists in the record keeping. Since the inception of this investigation in August of 2006 through December 9, 2007, the records reveal that 2,213,685 tickets for single wagers (not including casino or race track) have been transacted by the enterprise. A review of the records retrieved pursuant to the CDW's described above for the various packages and the authorized interceptions between the targets herein and the wireroom or their respective agents, support that singular wagers have been made in amounts between $50 and $5,000; but on average the singular wagers are approximately $1,000. Consequently, since August 2006, the illicit gambling enterprise had transacted approximately $2,213,685,000 in gambling wagers.
The websites mentioned in the affidavit were Betonline.com and Bigactionsports.com.
Beteagle.com was also mentioned in a footnote but I'm not sure if it had any direct connection to the Lucchese operation.
All roads lead to New York.