Скачать или смотреть Double Down with Breslo featuring guest Steve Ruddock

The discussion featured Steven Ruddock addressing recent changes in sports betting regulations and their implications for gamblers. James Breslo highlighted a new tax provision that restricts gamblers to writing off only 90% of their winnings, a significant shift from previous rules.

Ruddock explained that the IRS evaluates winnings based on W2G forms from casinos, which can misrepresent a gambler's financial situation.

He noted that this change primarily affects a small percentage of tax filers and is likely aimed at generating substantial revenue as part of a larger legislative effort. The American Gaming Association's opposition to these changes was mentioned, although their concerns were largely ignored during the legislative process.

The conversation also delved into the differences in tax implications for professional versus casual gamblers, with Ruddock indicating that professional players may be deterred from high-stakes games due to the inability to fully deduct losses. Breslo expressed concerns about a bipartisan bill that could overturn the tax policy without a replacement for lost revenue, potentially exacerbating national debt issues. They discussed the evolving online gambling landscape in California, particularly the legal challenges faced by companies like PrizePicks, and the ambiguity in gambling laws that allows for exploitation of loopholes. Ruddock concluded by explaining prediction markets as a regulated alternative to traditional sports betting, providing insights into their operation and relevance for gamblers.