How will part-time players survive a regulated poker site?
Unless "professional gambler" is your stated profession, you cannot deduct your losing sessions from your winning sessions, according to tax law. A regulated site in the USA would be required to report all winnings. Regulation would be a large blessing for us, but our compromise would be increased IRS scrutiny.
How can someone whose winning sessions add up to $100k and whose losing sessions add up to $90k be expected to pay any more than 10% on taxes? Please tell me this has been discussed before and everything is going to be OK [img]/images/graemlins/smile.gif[/img]
Otherwise there is no hope for poker. At all. None! Thanks.
|