HANA Tampa Pick 3 Tickets ....Post them here 4-7-09

[miesque]

Any exotic payout over $5K in the United States is subject to an automatic, mandatory Federal Tax withholding of 25%, which means you will receive 75% of your payout either in cash or in your ADW account.

[Cangamble]

Originally Posted by Red Knave

I'm not certain about all the details but I believe that as long as you are not in the "business" of gambling that you keep all your winnings. I certainly have. There are other Canadian PAers that I happen to know are very profitable who may be able to give you a definitive answer but I know there are no tax withholdings either at the track, casino or at HPI.

In Canada gambling is not taxed. You can hit a pick 6 at Santa Anita that pays a quarter of a million, and the government won't bother you at all for any of it.
Of course, our taxes are much higher than in America for almost everything else.

[Cangamble]

Originally Posted by Red Knave

I'm from Cangamble's part of the world and if you want to see Shylock you have to come up here. Our pik3 paid almost $1000 less.

No one cashed the ticket in Canadian dollars, that is for sure. If they had, the price paid in the US would have been different because of the difference between the Canadian and US dollar.
Lets say there was exactly 20,000 after take out, and also assume that Woodbine used the same takeout as the host track, and also, lets assume that the Canadian dollar is trading at 80 cents.
If one person hit the pool from the US, the payoff would be 20,000. However if the winner won by betting Canadian dollars, the payoff would show 25,000. That is because the Canadian would be paid in Canadian dollars, and the payoff would really just reflect a Canadian bet.
Now for the fun part. If the pool was split by a Canadian dollar bettor and a US dollar customer, the payoff would be approximately $11110 approximately. This is due to the fact that the payoff would have to be the same for the Americans and Canadians. But the Canadian gets paid in Canadian dollars. So the Canadian only winds up with approximately $8888 US for his or her split of the pool.

[Red Knave]

Originally Posted by Cangamble

and also assume that Woodbine used the same takeout as the host track

This is what I was referring to in my response to Hajck. In this instance it was higher.

I know no one here won it, it seems like HANA players took it all.