FBI joins probe on "the fix is in"

[karlskorner]

Now everybody is in trouble

www.nypost.com/news/regionalnews/38187.htm

[karlskorner]

One of the sources of this article said Belmont was " riddled " with organized crime operations, that include doping, gambling and loan sharking. All this taking place while the " top dogs " of NYRA and their wives are playing golf at the expense of NY taxpayers. And yet, one of our more prominent posters and " seller of software " states it is only "occasional" and shouldn't bother handicappers in the long haul. If I were selling "software" I would have the same thoughts.

[rokitman]

Wowie. The poops has hit the fan. So long, NYRA.

[WINMANWIN]

Can someone explain the tax laws with gambling WINNINGS AND LOSS :confused: I was under the assumption that if I won 20 k for the year, and showed 20 k or more in losses, It's a wash and no gambling WINNINGS had to be paid in tax money. If I LOST 20 K AND WON 10 K LAST YEAR, I coundnt' claim the 10 k as losses, To my knowledge, If one loses money gambling, its not tax deductible. The N.Y. post article was somwhat confusing, But I'm sure it worked out well for them, until the windfall.

[ElKabong]

from the article...>>The feds have launched a nationwide investigation into allegations of horse doping and illegal betting at major tracks in New York, Florida and California, The Post has learned. -SNIP..


Hmm....Florida? "Horse doping and illegal betting" at a major track(s) in Florida!!

Frank Stronach owns such an animal in Florida....

[Pace Cap'n]

Can someone explain the tax laws with gambling WINNINGS AND LOSS :confused: I was under the assumption that if I won 20 k for the year, and showed 20 k or more in losses, It's a wash and no gambling WINNINGS had to be paid in tax money. If I LOST 20 K AND WON 10 K LAST YEAR, I coundnt' claim the 10 k as losses, To my knowledge, If one loses money gambling, its not tax deductible. The N.Y. post article was somwhat confusing, But I'm sure it worked out well for them, until the windfall.

It was a bit confusing.

Generally speaking, gambling losses are allowed as a deduction, reported on Schedule A, to the extent of gambling winnings. That would essentially be a wash.

In order to benefit from an excess of losses over winnings, the taxpayer would need to file a Schedule C (income from business or profession) and represent himself as a professional gambler. Any net losses could then be used to offset other income, such as investment income.

What these guys did I have no idea. Would be interesting to find out.

[WINMANWIN]

It was a bit confusing.

Generally speaking, gambling losses are allowed as a deduction, reported on Schedule A, to the extent of gambling winnings. That would essentially be a wash.

In order to benefit from an excess of losses over winnings, the taxpayer would need to file a Schedule C (income from business or profession) and represent himself as a professional gambler. Any net losses could then be used to offset other income, such as investment income.

What these guys did I have no idea. Would be interesting to find out.
I thought so Cap, Guess we all could be PRO GAMBLERS if we knew when these steeds were JUICED, and Jocks were Stiffing........ Easy game.... :D

[PaceAdvantage]

Wowie. The poops has hit the fan. So long, NYRA.


I guess it's so long Magna and Churchill as well.

[Hammerhead]

Does anyone think I have enough time to recoup my losses by selling my corrupt databases and gauranteed winning programs cheap?

"No wonder I can't pick a winner."

Crookedness abounds. Whoa is me. Back to the daily grind. No more free lunches for this turkey.

My life is now in a shambles. :eek: :eek: :eek:

Could anyone have the nerve and fortitude to fix a horse race?
No No it can't be true, those inscrupleous scoundrels.

AHGGGGGGGGGG. :D

[schweitz]

Delta Downs and the other "Bush League" tracks that I wager on are looking better and better. ;)

[CryingForTheHorses]

I guess it's so long Magna and Churchill as well.

Sad day for all of racing when a story like this appears in the black and white,Sorry to see it happen to a class act like NYRA,Glad MEC isnt involved, Seems like all NY racing is on the hot list!!..Cant say anything about Florida racing yet!.These are serious charges and really puts a black eye on racing, Really sad thing is the BIG APPLE of all racing suffers.

[ElKabong]

Seems like all NY racing is on the hot list!!..Cant say anything about Florida racing yet!..

Mcshell,

Hi, my name is reality. Have we met??

The article plainly states in paragraph #1, "The feds have launched a nationwide investigation into allegations of horse doping and illegal betting at major tracks in New York, Florida and California.....


Florida is having the same parascope rammed up its arse as NY's.... Surf's up!

[Tom]

Not just black and white - full COLOL front page of the Daily News.

[ElKabong]

Fargo, North Dakota is mentioned in the article. Isn't that where RSI or whatever the name of that betting org was that was in debt for millions and the state was running at em?

This ought to be huge. I imagine as days trickle by a lot of good/ amusing/ interesting chit will come out on this thing.

[JustRalph]

It's about time the winter doldrums started to abate:cool:

[NoDayJob]

:D What happened to investigating terrorist cells? I guess the FBI has located and jailed all the terrorists so they haven't got much to do, except shuffle papers and chase the ghost of John Gotti? Don't you know, when you lose that photo finish, the track officials played pat-a-cake with the photo timer. If the game is so crooked why don't you just quit playing? Opps, I forgot, it's the only game in town that features four legged animals that you can bet on, right! Just to be safe, from now on, I'll only bet on cock-fights. :D

NDJ

[alysheba88]

Bookmaking at the track? Who would have thought. Mob guys at the track?

Shocked, shocked. LOL

Only been going on for 100 years.

[andicap]

I think Karl and Tom are spending too much time in the sun working on their tans. And Tom your attitude on the FBI inquiry seriously damages your posts about Stronach and everythnig else. It is impossible for you to see any negativity at all involving Magna or Florida racing. Yes, we should focus on the positive stuff -- but if you bury your head in the sand the bad buys will bury you and take over the sport. FACE REALITY for once.

Do they really think this scandal is just limited to New York??
Does Florida have an exclusive on morality? Yeah, what a fabulous state guys.
No drugs down there! Miami Vice was just TV, so there's nothing going on down there.

How can you guys think Florida isn't involved especially when the stories themselves say that state is being investigated as well?? Trainers move their horses from NY to FL all the time!!! But no, to you guys, NY is a corrupt island of dope, sin and dames. Florida is a pristine area where its always 75 degrees and horse racing is not touched by any of the filth that inflicts every other track in the country.

Yes I've criticized NYRA a lot on this board, but ALWAYS with the caveat that MAGNA and CD are not necessarily any better. But three wrongs never make a right.

.

[CryingForTheHorses]

ANDY and you other members, I said I couldnt say anything about florida racing YET!!!....Doesnt sound like I have my head in the sand...Looks to me like you didnt read my post!.

[rokitman]

I guess it's so long Magna and Churchill as well.


I think Magna and Churchill will be just fine. NYRA won't.

[garyoz]

I think Magna and Churchill will be just fine. NYRA won't.


What is your rationale for that statement? There are no politicians trying enrich themselves by taking licenses away from Magna and Churchill?

[alysheba88]

Racing in Kentucky is totally corrupt

[karlskorner]

According to the article I posted, the FBI is limiting their probe/investigation to NEW YORK, for now. No sun to bask in today, yesterday and today rain, wind and cold. But like Orphan Annie said.......The Sun will be out tomorrow.

[so.cal.fan]

How do we know that some of this money laundering is not financing terrorism?
I have good reason to believe that this has crossed the fed's minds.

Elk:"Fargo, North Dakota is mentioned in the article"
These Dakota betting shops are more than suspicious.
You'll remember our outrage at a few single pick six tickets hit at Del Mar and Oak Tree traced back to this place.
The biggest crock was when a big PS was hit at Oak Tree meet before last and the "winners" were actually "honored" in the Santa Anita winner's circle later in the meet. They alledgedly hit on a small ticket........one of the "winner's" relatives ran the betting shop............ :eek: