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SachaCuy t1_j33vlhh wrote

I am ok with organized crime making money from gambling.

We all got to make a living.

Alcohol no. That became too disorganized. Weed we will see how this new experiment goes.

Don't forget the state taxes you on your winnings and you can't write off your losers. Not only is it negative expected value (which is fine) but the winnings are taxed.

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ctindel t1_j35m0xi wrote

You can write off losses up to the value of your winnings.

Letting organized crime make money on anything is fucking stupid for society. Regulate and tax, make sure the gambling is fair and properly run and money isn’t laundered.

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SachaCuy t1_j397gdd wrote

I think you should be able to write off losses vs other risk assets (i.e. stocks) but that's just me.

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ctindel t1_j398a8p wrote

Absolutely. But the tax code isn't written to help normal people, just businesses.

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