Category Archives: Gambling

Hurry Up and Wait: What the New Jersey Online Gambling Bill’s Passage Really Means

Posted on February 26, 2013 by Russ

New Jersey Governor Chris Christie signed into law a bill authorizing online gambling in New Jersey. I’ve seen tweets from friends saying things like, “Great! Christie legalizes online poker in New Jersey.” Well, that’s not exactly what happened. While I’d … Continue reading →

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Mailbag

Posted on February 24, 2013 by Russ

We get mail: I moved to California in 2012, and earned just $5,000 while in California versus a lot of money outside of the state. Yet those robbers want me to pay based on my overall income. This can’t be … Continue reading →

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Nevada Looks to Tax Online Poker Tournaments

Posted on February 14, 2013 by Russ

A brief story in the Las Vegas Review-Journal noted that the chairman of the Nevada Gaming Control Board, A.G. Burnett, proposed that online poker tournaments be subject to tax (on the net profit of the tournament). This bill, Senate Bill … Continue reading →

Posted in Gambling, Nevada | 1 Comment

A Podcast to Start the New Year

Posted on January 1, 2013 by Russ

On the day the world didn’t end, I was interviewed for the Thinking Poker podcast. The interview ran about an hour, and it was a lot lighter than most discussions on taxes and gambling. You can download the episode through … Continue reading →

Posted in Gambling, Taxable Talk | Tagged | 1 Comment

Is It Time to Take a Casualty Loss on Absolute Poker/Ultimate Bet?

Posted on December 27, 2012 by Russ

One of the things needed for a casualty loss is certainty. There’s been relatively little of that when dealing with Absolute Poker (AP) and Ultimate Bet (UB) after Black Friday. While PokerStars quickly repaid players, and it appears players will … Continue reading →

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Sweden Goes After Poker Players…For Real

Posted on November 21, 2012 by Russ

The Swedish tax agency, Skatteverket, sent police into some poker players’ homes across Sweden on Tuesday. Under Swedish law gambling winnings within the European Economic Area are not taxed; however, gambling winnings from outside the European Economic Area are taxable. … Continue reading →

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I’m Glad I Didn’t Say Which Christmas

Posted on November 14, 2012 by Russ

Back at the end of July came news that the US Department of Justice had settled with PokerStars and Full Tilt Poker on civil claims, and that players would be paid back. I wrote, When will players be repaid? If … Continue reading →

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Bad News for German Poker Players

Posted on November 2, 2012 by Russ

Is poker a game of skill or chance? Personally, I believe it is a skill game where there is an element of chance. For German poker players, this is more than an interesting debate; it’s a vital question that impacts … Continue reading →

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The Real Winner of the 2012 World Series of Poker

Posted on October 31, 2012 by Russ

Nine individuals came to Las Vegas early this week to compete for the championship at the World Series of Poker (WSOP). Who would be the lucky winner? And who really got to keep the money? This year’s World Series of … Continue reading →

Posted in Gambling | 4 Comments

Bad States for Gamblers

Posted on October 22, 2012 by Russ

It’s been a while since I’ve listed out the bad states for gamblers. Here’s an updated list. Make sure you read the notes because while all of these states have tax systems that are problematic for gamblers, some impact amateurs … Continue reading →

Posted in Connecticut, Gambling, Hawaii, Illinois, Indiana, Massachusetts, Michigan, Minnesota, Mississippi, New York, Ohio, Washington State, West Virginia, Wisconsin | 1 Comment