You know, it's amazing to me that States and the Feds haven't embraced sports betting, especially online sports betting. For those of you were involved with online poker, every hand you played was recorded and catalogued either by the poker site or some third party. I believe it's the same case today in Nevada with poker and online sports betting.
Online sports and poker betting will be a huge revenue source for the states and feds.
- You sign up.
- You give them your social security number.
- They track every bet you make.
- At the end of the year you get a win/loss statement and so does the Feds.
- You pay taxes or you deduct the loss.
- Bingo!
How hard is it to realize gamblers will find a way to do their business? Why not regulate or at least oversee who's doing what and who's profitable?
It's the same with marijuana, webcams, and prostitution. Enormous amounts of untaxed money are being exchanged. (and that's just with Johnny Detroit!) I'm not a big fan of legalizing pot, but if by legalization the gov't can turn it into a positive revenue source, give it your best shot because it's going to happen anyway. The justice department has much bigger fish to fry so why waste a shitload of money on something they really can't control?