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[deleted] t1_iz9tuok wrote

[deleted]

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Most_Expert_8080 t1_iz9vqme wrote

Tax revenue from who? Where do you think this money comes from?

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ARealVermontar t1_iza16cf wrote

Yeah, gambling doesn't tend to be a very progressive form of taxation. The money can be used for good things but it's often coming from people who can least afford it.

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Eagle_Arm t1_iza2lbe wrote

Hey, when I win that next big Powerball who will be laughing!? Scratchers and pop tickets haven't been paying out, so it's Powerball ticket for me now!

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5teerPike t1_iza35sj wrote

More importantly, where's it going to go

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Most_Expert_8080 t1_iza6fp3 wrote

All of the real money will go from poor people in VT to a crime syndicate in Nevada.

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5teerPike t1_iza705n wrote

It's so annoying that they'd rather people suffer from gambling addiction, losing wages, over just raising the minimum wage in the state.

Wouldn't it be better for our economy if people who lived & worked here year round had more money to spend? ...

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NorridAU t1_izaexuw wrote

Unfortunately it’s a poor tax for people that misunderstand odds. When the prize gets large like the recent $1b prize, it’s due to the odds of winning decreasing overall.

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Most_Expert_8080 t1_izaglc6 wrote

The odds are the same for powerball no matter how large the prize is. It is the same game you play.

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NorridAU t1_izaie9k wrote

Right right, the jackpot odds are 1:292,000,000. It was 1:175 million when we saw the ‘peaks’ of 300-400 million.

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random_vermonter t1_izbmwdc wrote

That's why I call the lottery the poor tax whenever someone blabs about the current jackpot. I only buy scratch tickets and rarely because they don't pay anything anymore. I do get annoyed by idiots holding up lines so they can pay the poor tax.

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HeadPen5724 t1_izbvo5x wrote

The odds don’t change regardless of how big the jackpot?

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thisoneisnotasbad t1_izbyq5d wrote

I think the implication is more tickets means more possible winners, smaller total prize, lower odds of collecting the whole payout. Maybe not, maybe he just doesn’t understand math.

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HeadPen5724 t1_izc16r2 wrote

The statement as worded certainly implies the latter.

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NorridAU t1_izcdi2s wrote

My bad joining two thoughts into one. The odds of jackpot on Powerball are 1:295m(up from 175m), or so freaking low that I’d be more likely to be bit by a shark, while being struck by lightning, on the CT river. Or maybe a better analogy is the blackjack card shoe is 9 instead of 5 decks?

That jackpot is only so large nowadays compared to earlier games is from the streak of dud tickets increasing, not because more tickets are selling overall. I believe they increased the # of balls by 10 to get that shift in odds. It’s not you vs your neighbor or the conglomerates that buy when the prize pools get high. It’s us vs spinning balls in a bin. I don’t think it matters weather their is 1 or 15 winning ticket holders, it’s the ones that came up that drawing.

Now you do have a 1:25 odds of getting a $4 winner though. $50 to guarantee $4? I’d rather buy a candy or glizzy from the gas station rollers for the guaranteed value of lunch.

Maybe it’s still a crummy explanation of why the lotto, and specifically pick-x games, are a poor tax.

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Eagle_Arm t1_iza2ylv wrote

I think sports betting is better than lottery tickets. I'd take the bet that more middle to upper class would gamble via sports betting than scratch tickets or lottery tickets.

I'm sure the majority will still be lower income people though, which isn't a demographic should be taxing heavier.

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Most_Expert_8080 t1_iza6ied wrote

Lotteries aren't ran for profit by private out of state companies.

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Eagle_Arm t1_izam9tb wrote

I think I understand what your comment meant.

So you don't think Vermont will collect any tax on those bets?

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Most_Expert_8080 t1_izapkz5 wrote

Instead of changing the subject, why don't you put your thinking cap on and try to figure out my very simple statement.

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Eagle_Arm t1_izaqnm3 wrote

Yeah, your declarative statement that didn't actually say anything.

It also isn't changing the subject, the subject was taxes. My question was about taxes. I'm assuming you're not able to answer because you don't know how many of those taxes work.

Why don't you put your thinking cap on and try to answer my very simple question?

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Most_Expert_8080 t1_izaszcx wrote

Poor attempt at pseudo-intellectualism.

Since you're a moron, of course there will be some taxes collected. Just like how there are taxes collected on everything. That most money will go to the for-profit gambling company out of state means that the state of Vermont will have a net negative cashflow by legalizing online sports betting. Since there's barely more than a half million people here and most of them are absurdly poor, it is not a good situation that what little money is here will be taken away. If you really want more tax money, you could make a very minor adjustment to already-extant taxes which would be less negatively impactful to the state than turning a lot of poor people into online gambling addict degenerates.

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Eagle_Arm t1_izaug95 wrote

>Poor attempt at pseudo-intellectualism.

Thank you putting the tl:dr of your comment at the beginning.

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Macbookaroniandchez t1_izcn9o1 wrote

why is someone elses inability to control themselves my problem? if you dont want to participate, dont participate.

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Playingwithmyrod t1_izandcw wrote

At least sports betting you have a chance to win. Lottery tickets are literally just poor and middle class people setting their money on fire.

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Eagle_Arm t1_izanxgs wrote

Sports betting is a great way to turn $100 into $200 into $65 into $180 into $640 into $50 into $0.

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Playingwithmyrod t1_izaq8w2 wrote

Exactly. But at least you had the opportunity to make money and cash out. Versus taking 20 dollars a week for your whole life and throwing it straight in the trash.

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Eagle_Arm t1_izaqw2l wrote

And lottery players can stop anytime too. The "chance" to cash out isn't something that actually happens, that's why betting agencies can always cover it's costs, people don't cash out.

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Playingwithmyrod t1_izas66n wrote

They make money because more often than not they're right. I'll take 40 percent odds over 0.00000001 percent odds but what do I know about math. You can't compare the two. Sure any kind of betting has risks.

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Eagle_Arm t1_izauysr wrote

Oh, don't get me wrong, if betting came to VT, I'd probably throw some money into it every now and then. I also buy a powerball ticket with it's a billion dollars, but with a bet, I also don't expect to see that money. It's just petty cash that if win/lose, it doesn't matter.

The issue I see with betting is the people who will keep it in business, the same asottery tickets. The, "I just haven't caught the break yet" folks.

I'd like to see sports betting in VT, but I also see it as something that isn't "good".

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deadowl t1_izaerln wrote

Great tax revenue. Get your tax money from low-income gambling addicts instead of having the wealthy pay their fair share.

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