Louisiana Sports Betting (1 Viewer)
- Thread starterjrdbrn
- Start date
- Latest activity Latest activity:
Offline
Some info here:
saintsreport.com
Legal mobile betting in Louisiana to go live on Friday morning
Ceasars haven't given me my $300 sign up bonus...anyone get theirs?This is what I figured would happen. Looks like you need to make $300 in bets before you get access to that:
saintsreport.com
- Joined
- Oct 24, 2000
- Messages
- 14,820
- Reaction score
- 13,141
- Age
- 46
Offline
I posted this on the SSF thread, but apparently nobody loves me enough to respond, so I turn to EE for help. 
I've seen and heard about all the betting stuff before, but never paid much attention to it all, since it wasn't available in my parish. Now that it is, can someone explain to me about how winnings are taxed? Take DraftKings, for example, if I set up an account and win $1000 dollars, does that money just stay in the DK account indefinitely unless I withdraw it? If so, when is it taxed? Upon winning or upon withdrawal. I figured there's some of you out there with knowledge of this stuff, so thanks for any explanations.
I've seen and heard about all the betting stuff before, but never paid much attention to it all, since it wasn't available in my parish. Now that it is, can someone explain to me about how winnings are taxed? Take DraftKings, for example, if I set up an account and win $1000 dollars, does that money just stay in the DK account indefinitely unless I withdraw it? If so, when is it taxed? Upon winning or upon withdrawal. I figured there's some of you out there with knowledge of this stuff, so thanks for any explanations.
I don't know for sure how it works, but I assume the taxes are part of the vig, or the juice. For example, you have to put up $110 to make an actual $100 bet. That is how the casino makes its profit no matter what the outcome of the game is. I assume the taxes are just part of the premium you pay to make the bet. So in the example, either the casino pays a portion of its $10 profit, or else thy pass it down to the consumer (better) and the actual payout might only be $89.50 on that $100 "even money" bet.
- Moderator
- #6
- Joined
- Aug 7, 2002
- Messages
- 34,545
- Reaction score
- 41,203
- Age
- 48
Online
My bonus is already there.
Offline
i bet on them twice this weekend. Fanduel had 2 games that was a 1 point scored wins the bet. it was a $50 max bet, but easily won double on both...lol. and Cashed out....free money, I'll take it. (they also had the same promotional bet with LSU/TCU, won that one too..)
FullMonte
Super Forum Fanatic
Offline
I saw a promo where new users on FanDuel's sports book app could get a special odds rate of 30:1 odds on any team during the conference championship games. So, I created an account and bet $5 on the Bengals. On a completely unrelated note, my wife also created an account, but she decided to bet her $5 on the Chiefs. I got to laugh as my $150 was deposited back into our checking account, and how it wasn't her $150 that was deposited back into our checking account.
Offline
Thats the other one i was forgetting. I took the one for the Rams. put $5 and cashed out that one as soon as the game was over.
Outbackjack
Hall-of-Famer
- Joined
- Dec 10, 2011
- Messages
- 7,052
- Reaction score
- 19,620
- Age
- 53
Offline
Can you do this if you are out of state?
Offline
its location based. It takes your GPS location. So if you live where its legal, but are physically somewhere its not, it will not let you make a bet.
I had an old fake GPS on my phone from when my son used to play Pokemon, that i hadn't used in years. I had to uninstall it from my phone before i could make a bet, even though it was disabled.
Create an account or login to comment
You must be a member in order to leave a comment
Create account
Create an account on our community. It's easy!
Log in
Already have an account? Log in here.