Posted By: coeur-de-lion
Re: It's not that big a deal . . . .
If they are in a 22% tax bracket, and $10,000 of the $100,000 they won is taxable, the tax is $2200, so it becomes 2.2% of the $100,000 he won. A guy who has a problem with this should not be betting enough to even win $100,000 in the first place.
In the example given in the link about a guy who wins $10,000 playing bingo, the net tax is $220, less than a good meal for two people in Las Vegas, or the price of pussy for one person. This is NOT going to topple the industry. Trust me. It's a Chicken Little argument.
I’m not even sure a $10,000 win would be enough to itemize?
Yeah this isn’t going to topple Vegas.
According to googles AI…
In Las Vegas, the vast majority of gamblers are regular visitors, not whales.
Here's why:
Defining a "whale": Whales are elite gamblers who wager massive sums, often in the hundreds of thousands or even millions of dollars per visit. There are relatively few of them compared to the countless individuals who visit Las Vegas each year for various reasons.
Average visitor behavior: The typical visitor gambles with a much smaller budget. For example, in 2023, the average gambling budget for a trip to Las Vegas was $787.
Casino revenue sources: While whales can bring in substantial revenue, casinos also rely heavily on the collective spending of the general public, according to BetUS. A significant portion of Nevada's gambling income comes from slot machines, which are popular with the average gambler, according to Wikipedia.
Therefore, while whales are a lucrative and sought-after segment of the market, it's the large number of regular gamblers that collectively constitute the majority of people gambling in Las Vegas.
As such the average gamblers good fortune win of let’s go up to the $10,000 they are going to have a project coming up with $10,000 in loses to offset it.
