Does gambling revenue signal a booming economy? … Or is it merely non-productive transfer of previously generated revenue? … Or does it stimulate prosperity by creating demand due to logistics? … If one wins a $20 wager on the first half of a soccer match and then loses $20 betting on the second-half result, does the winning $20 count as taxable income?
9/21/1942, Casinos in Las Vegas Doing "Rip-Roaring" Business … Map, Las Vegas, Google … Map, Monte Carlo, Google
9/21/1942, Chicago Bears Top Army All Stars 14-7; Army Had Stopped N.F.L. Dodgers & Giants in Past Five Days
9/21/1942, Russians Grimly Cling to Stalingrad Positions Against Brutal German Assaults … Map, Stalingrad, Google
8/3/1943, Gambling Revenues at Monte Carlo Cassino Up by £600,000 Due to Wealthy Refugees & Black Marketeers
8/3/1943, Russians Push Five to Nine Miles in Orel Sector After Stalling; 3,000 Germans Killed … Map, Orel, Google
8/3/1943, Senators' Haefner Six-Hits Browns … 8/3/1943, Bucs Edge Braves … 8/3/1943, A's Rally 5-3 Against Chisox
Globalization41.
Gambling Revenue
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Globalization41
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- Location: California
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Globalization41
- Member
- Posts: 1457
- Joined: 13 Mar 2002, 03:52
- Location: California
Las Vegas
2/16/1943, Gambling City of Las Vegas Becomes Boom Town; Avalanche of Money Pouring In … Map, Las Vegas, Google
If one plays and loses $5,000 in a night at the cassino in Las Vegas, their "coin in" and "coin out" totals might be $45,000 "out" and $50,000 "in". Technically, one's loss was $5,000. One's income for the night would be $0.00. Or should one declare a gambling income of $45,000.
Globalization41.
If one plays and loses $5,000 in a night at the cassino in Las Vegas, their "coin in" and "coin out" totals might be $45,000 "out" and $50,000 "in". Technically, one's loss was $5,000. One's income for the night would be $0.00. Or should one declare a gambling income of $45,000.
Globalization41.
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Globalization41
- Member
- Posts: 1457
- Joined: 13 Mar 2002, 03:52
- Location: California
Gambling Revenue
12/1/1944, Argentina Expects $5,000,000 Yearly Yield from New Gambling Taxation Law … Map, Argentina, Google
Note: If bettors in Argentina won $90,000,000, it would require about $100,000,000 in wagers (in back-&-forth winning & losing) if at a 90% win rate. If Argentina then collected $5,000,000 in tax revenue, the casinos would profit by $5,000,000 (before logistical expenses).
12/1/1944, Major Leagues May Get Proposal to Expand Rosters for Baseball Players Returning from Military Service
12/1/1944, War Refugee Board Reports 1,765,000 Murders at Birkenau … Map, Auschwitz-Birkenau Poland, Google
12/2/1944, Servicemen Asked If They Want to Go Back Overseas & Visit After War? Pvt. Bracy Says He's Seen Enough
12/2/1944, "Every Smart G.I. Has a Racket"; Steward's Mate John L. Bishop Profits from Raffles, Gambling, & Loans
12/2/1944, Camouflaged 155mm Howitzer Battalion Hurls Two Million Pounds of Steel at German Lines (Since July)
12/2/1944, Are Winnings of Addictive Gamblers with Heavy Losses Taxable? Judge Says No if Not in Betting Business
Globalization41.
Note: If bettors in Argentina won $90,000,000, it would require about $100,000,000 in wagers (in back-&-forth winning & losing) if at a 90% win rate. If Argentina then collected $5,000,000 in tax revenue, the casinos would profit by $5,000,000 (before logistical expenses).
12/1/1944, Major Leagues May Get Proposal to Expand Rosters for Baseball Players Returning from Military Service
12/1/1944, War Refugee Board Reports 1,765,000 Murders at Birkenau … Map, Auschwitz-Birkenau Poland, Google
12/2/1944, Servicemen Asked If They Want to Go Back Overseas & Visit After War? Pvt. Bracy Says He's Seen Enough
12/2/1944, "Every Smart G.I. Has a Racket"; Steward's Mate John L. Bishop Profits from Raffles, Gambling, & Loans
12/2/1944, Camouflaged 155mm Howitzer Battalion Hurls Two Million Pounds of Steel at German Lines (Since July)
12/2/1944, Are Winnings of Addictive Gamblers with Heavy Losses Taxable? Judge Says No if Not in Betting Business
Globalization41.