NYRA pick six in CANADA

[lamboguy]

if you play and hit the pick six that originates in the united states in canada there are no forms or taxes witheld from you. i don't think they even ask you for a drivers license when you go to cash the ticket. i don't know if its for citizens of canada only or if its for everyone.

what i do know is that if you don't keep the taxes away from the person that hits the ticket would mean that the racetracks have a shot at more of a handle.

i am sure congamble will correct me on this if i happen to be misguided on this statement. but i would think that this would be a good idea in this country to increase gambling. maybe they should figure out how to redistribute the payment of taxes from gambling winnings.

[Trotman]

Lambo all gambling in Canada is tax free, I can't say for certain but if you hit a 6 originating out of the US I still believe it's tax free, you hit you keep.

[lamboguy]

Lambo all gambling in Canada is tax free, I can't say for certain but if you hit a 6 originating out of the US I still believe it's tax free, you hit you keep.how come the canadiens are that much smarter than the guys in the united states?

[Greyfox]

Lambo all gambling in Canada is tax free, I can't say for certain but if you hit a 6 originating out of the US I still believe it's tax free, you hit you keep.

When I was there tax was taken off the top. In effect, every ticket win or lose is paying a small amount of tax. It's hidden.

[Horseplayersbet.com]

I don't think HPI takes US residents, so any gambling by a US resident would have to be at a track or simulcast location. The only time they ask for ID is if you want a check, just to confirm the spelling of your name.

However, because it is pretty much a monopoly, Woodbine gets away with increasing the takeout on many exotics. They become your partner, so to speak.

In other words, if you hit a triactor at Santa Anita that pays $1000 there, Woodbine pays its customers around $930 or so instead of the full g note. Their excuse is that some takeouts in the states are ridiculously low, and that means they must make up for it. So they become your partner on the bet, and take 6 or 7% because they can.

I guess for an American, 7% sliced off the top is better than a 30% withholding if you don't get it all back. But for Canadians, it isn't a very nice situation.

[Horseplayersbet.com]

When I was there tax was taken off the top. In effect, every ticket win or lose is paying a small amount of tax. It's hidden.
It depends on what you hit. Most payoffs are the same, in fact, for WPS especially, they break to the nickle, and not the dime, so many times, a horse that pays $8.40 in GP, will pay out $8.50 in Canada, for example.

And it depends how long ago you played in Canada. Prior to a few years ago they had their own Canadian pools that were separate from the US ones.

[Greyfox]

It depends on what you hit. Most payoffs are the same, in fact, for WPS especially, they break to the nickle, and not the dime, so many times, a horse that pays $8.40 in GP, will pay out $8.50 in Canada, for example.

And it depends how long ago you played in Canada. Prior to a few years ago they had their own Canadian pools that were separate from the US ones.

You are still paying tax on every ticket, win or lose - not what you hit.

[Horseplayersbet.com]

You are still paying tax on every ticket, win or lose - not what you hit.
Huh? How is that different than betting in the US?
You bet and the money goes into a pool and the takeout (which includes taxes) is taken out before the remainder is distributed to the winning ticket holders after the results are made official.

[Greyfox]

Huh? How is that different than betting in the US?
You bet and the money goes into a pool and the takeout (which includes taxes) is taken out before the remainder is distributed to the winning ticket holders after the results are made official.

True. We agree on that.
The statement was made earlier in this thread that gambling isn't taxed in Canada.
It is. I don't have a Canadian program in front of me, but they tell you that the feds are taking a percentage off every ticket. I.E. losers are paying federal taxes as well.

[Horseplayersbet.com]

True. We agree on that.
The statement was made earlier in this thread that gambling isn't taxed in Canada.
It is. I don't have a Canadian program in front of me, but they tell you that the feds are taking a percentage off every ticket. I.E. losers are paying federal taxes as well.
1.3% is part of the takeout on each wager.
But I think the original post had to do with taxing winnings of jackpots or big payouts.

[Greyfox]

1.3% is part of the takeout on each wager.
But I think the original post had to do with taxing winnings of jackpots or big payouts.

You could be right, I didn't read it that way. I just wanted to point out that gambling is taxed. Gambling winnings in the US are taxable. Gambling winnings in Canada aren't. A bettors Shangrala.

[DeanT]

Coincidentally I just finished my taxes today. I have come to the conclusion that in Canada gambling winnings are not taxed, but everything else is.

[46zilzal]

If you win a lottery here, you get it all.
If you win big at the track, you get it all.

Nice huh?

[Canadian]

I don't think HPI takes US residents, so any gambling by a US resident would have to be at a track or simulcast location. The only time they ask for ID is if you want a check, just to confirm the spelling of your name.

However, because it is pretty much a monopoly, Woodbine gets away with increasing the takeout on many exotics. They become your partner, so to speak.

In other words, if you hit a triactor at Santa Anita that pays $1000 there, Woodbine pays its customers around $930 or so instead of the full g note. Their excuse is that some takeouts in the states are ridiculously low, and that means they must make up for it. So they become your partner on the bet, and take 6 or 7% because they can.

I guess for an American, 7% sliced off the top is better than a 30% withholding if you don't get it all back. But for Canadians, it isn't a very nice situation.



It is for this Canadian... I use PTC..... get noting taken off and bet using American funds.

[Stillriledup]

Canada seems like a "more free" country than the US. In America, you're pretty much Uncle Sam's "girlfriend" for lack of a better word. :blush:

[Trotman]

As was mentioned earlier is yes you pay a small portion of tax on your bet but the winnings are yours without tax, same as their lotteries you get it all if you win. And remember full fields to bet into which helps at Woodbine and pretty good fields at Fort Erie, and there again you got your rubber or you got your dirt.