✔️Billy Walters: "The offshore world’s going to be bigger than ever.”

[KVB]

So glad we didn't let these fukkers into California last time around.

They wrote a terrible bill that would have given them and FD the monopoly, basically. I was outspoken against on SBR and even in Sacramento.

Then they'll pull this shit.

I still, @jjgold this country needs a sharp exchange or set of bookmakers. There is a niche to fill here.

Let's become the Pinny of the West coast, we can do this.

 

[djefferis]

Again - sad state of the market. Gamblers too stupid to realize they are getting screwed and too ignorant to do anything about it but voting with the $$ and playing elsewhere.

There will always be a portion of the market who simply opt convenience over favorable odds and bet stupidly. If there wasn’t - race tracks and their huge take outs would have failed years ago and scratch off tickets wouldn’t be a thing.

As I said in an earlier post - few people realize where the money raised by these apps is being routed - it’s being sent to agencies who seek to eliminate offshore by attacking the flow of funds. Legal books fund the enforcement who in turn target seizure of assets that can be used to fund enforcement activities. Same reason you see suburban police riding around in armored vehicles playing soldier - they get the funds to enforce the law on those with the money and then look to buy every toy imaginable and hire their cronies onto the force so they can take management roles and brag how they are busting up crime - while targeting competition to their own operations.

 

[dhristov211]

So glad we didn't let these fukkers into California last time around.

They wrote a terrible bill that would have given them and FD the monopoly, basically. I was outspoken against on SBR and even in Sacramento.

Then they'll pull this shit.

I still, @jjgold this country needs a sharp exchange or set of bookmakers. There is a niche to fill here.

Let's become the Pinny of the West coast, we can do this.

I hope @jjgold can be market maker on one of the following:

Spanish div. B, C, and D soccer
Argentina basketball (men AND women)
Lacrosse - anywhere on the planet

My average bet size is $200, but I would give jj double the action if the price is right

 

[KVB]

You can bet your ass if they offer -110 with a 3.2% winners tax that it's inevtible that lines creep up towards -115 and the tax stays in place.

Call it inflation, call it what you want, but you know if we give the corp an inch, they'll eventually take a mile.

State Regulators, please step up here.

 

[KVB]

This is serious shit here.

It's like taxing us on unrealized capital gains in the market, like 98% tax.

The reality is, investors will take the money elsewhere, whether that's offshore or to the equity, bond, or real estate markets.

That's how professional money management works.

 

[jjgold]

USA Sportsbook base mainly squares

 

[KVB]

USA Sportsbook base mainly squares

That's how they'd like it to be but let's be honest, we're everywhere, lol.

If we get booted, we find a way back in.

Motivation is key.

But a tax in DK and FD markets will lead to investing elsewhere. There's a portion of my business that involves playing a lot of different types of props from those houses, and others in the US. We can get more margin in the props, but getting taxed like that is brutal and will lead to the action on those props being replaced with something else.

Perhaps options around index funds. More liquidity there anyway.

Now let's just hope the Dems, when the win, don't decide to tax all our equity market action to the hilt.

Sure they'd like to do that and redistribute the wealth.

 

[jjgold]

Most sports gamblers just want to have action they don’t really care about juice and taxes

 

[malakana]

That's how they'd like it to be but let's be honest, we're everywhere, lol.

If we get booted, we find a way back in.

Motivation is key.

But a tax in DK and FD markets will lead to investing elsewhere. There's a portion of my business that involves playing a lot of different types of props from those houses, and others in the US. We can get more margin in the props, but getting taxed like that is brutal and will lead to the action on those props being replaced with something else.

Perhaps options around index funds. More liquidity there anyway.

Now let's just hope the Dems, when the win, don't decide to tax all our equity market action to the hilt.

Sure they'd like to do that and redistribute the wealth.

Or just buy the dip on Eth and hope Vitalik doesn't f it up

 

[jjgold]

I guess when you have shareholders, that’s a big problem

 

[flyingillini]

Fuuuuukkkkkkkkkkkkkkkkk!

I'm fukking livid if they do this.

Why not just up the prices and collect it through the vig? Why? Because the price doesn't look appetizing. So instead, they want to hide the taxe of 3.2% because most bettors don't have a clue that it means close to -115 anyway.

Maybe it's time for a video on caculating margins, so everyone can see just how devious they are trying to be.

I'm fukkin livid right now and about to get on the phone to a dozen states and start screaming in my team's ears.

Fuuuuuukkkkkkkkkkkkk!!!!!!!!!!!

and DK will be building in variance to each of their lines now to even screw us more. I am glad I do not have to rely on using US books. May Christ help the US player during this trivial times!

 

[flyingillini]

I guess when you have shareholders, that’s a big problem

I am a shareholder

 

[sportsbettor5]

I am a shareholder

If you can't beat 'em, join 'em

 

[Tanko]

Wow. Just wow.
As someone said. Sharps, if there were any at DK, will go elsewhere. The public won't know any better.

 

[torontogyal]

In Ontario, Canada winnings on sports-betting/recreational gambling is not taxable

 

[rsstreams]

While the public is always going to be quick to blame operators - and they could be more tactful in their language or how they could put tax charges into products such as futures or larger straddles on props - the fact that the states are charging so much tax is the reason for the largest amounts of any increase. DK made their plan known to shed light on the increased state taxes (They are mostly increasing the surcharge in the most heavily taxed states), so the states are trying to bleed extra money out of their tax payers. Most of these companies were not getting any momentum in their stock prices even before last week's sell-off, as they are just up against it with poorly-conceived regulations.

 

[jjgold]

Remember, offshore has very little cost USA unreal cost

 

[dhristov211]

You can bet your ass if they offer -110 with a 3.2% winners tax that it's inevtible that lines creep up towards -115 and the tax stays in place.

Call it inflation, call it what you want, but you know if we give the corp an inch, they'll eventually take a mile.

State Regulators, please step up here.

Let me take a guess. Nothing will ever happen and DK lives happily ever after.

DK has a billion dollar business and lobbyists in D.C. Who is going to lobby for the bettor, especially the sharp bettor?

Maybe start a gofundme, @KVB?

'Please donate to our cause. We are the betting public and we want a fair tax on monetizing our skill of creating predictive models and taking money from big bad bookmakers'? Is that the punchline?...

 

[dhristov211]

Remember, offshore has very little cost USA unreal cost

This is the same reason everything is made in China today (even your car jj, or the engine of your car, or parts of the engine, or tyres etc.) And people invested into U.S.-based 'legal gambling' are obviously looking to prevent the same thing from happening to their business. This is why govt told banks to start actively monitoring money transfers to Costa Rica a decade ago, killing 5Dimes and others in the process. This is why TikTok is full with posters who share SGPs, encouraging thousands of followers to do same stupid thing.

Alcohol is expensive and 'the public' still consumes it. Betting is going to get a lot more expensive (and unbeatable, and a 'source of entertainment only') and IMHO 'the public' in general won't even notice. The discussions we see on betting forums and X are just that, discussions. The decision has been made and more taxes, worse betting lines should be expected in the future.

 

[dhristov211]

Wow. Just wow.
As someone said. Sharps, if there were any at DK, will go elsewhere. The public won't know any better.

This is what I meant to say, but a better, shorter version lol