10 cent Super - 3 questions

[seconditis]

First, why doesn't every track offer this wager. I see beginners and novices beginning to fall in love with the sport because of the fun they are having with this wager. Why wouldn't the track want to gobble up every possible $ they can into their total handle?

Second, I still see very good handicappers hitting Supers for a $1 complain when they go over $600 tax limit. The tracks have made a great tax loophole by offering these 10 cent wagers... bet 10 dime supers instead of a $1?

Finally, I still am not completely familliar with all the tracks that offer these wagers. Let me know harness tracks also, considering a lot of them swith to t-breds during the season.

[seven12]

I only know of Hollywood, Bay Meadows, and Arlington.

[moke0043]

I only know of Hollywood, Bay Meadows, and Arlington.

Lone Star does as well, along with Sam Houston.

[Unbridled]

so does Keeneland and I think Thistledowns has started a $.25 pick6, although i doubt i'd ever play this 6 there.

[Thunder Gulch]

Though I love trifectas, Pick 3's and such, I really don't play many superfectas, and the reason is that it is cost prohibitive to play that many combinations. I guess I would definately play more if the wager was offered. I do box half the field for dime supers in freaking dog races, but picking dogs is like throwing darts blindfolded. More of a time killer for a cheap price.

[alysheba4]

sorry, but i say get rid of those...... i cant remember how many times i wanted to yank some idiot outta line with 1.50 on a voucher camping out playing those things.

[Suffolk Shippers]

sorry, but i say get rid of those...... i cant remember how many times i wanted to yank some idiot outta line with 1.50 on a voucher camping out playing those things.

Hate those people!!!! Usually standing there as they are loading into the gates too...jerks.

That being said, I say keep them. The gimmick supers are fun, but dont change the pick 6, $2 minimums!!!!

[seconditis]

I have to admit, the people deciding on their 10 cent combinations at the machine is a bit frusturating. Almost as bad as the the guy who comes to the track with a few hundred dollars to play and is down to his last 40 cents. You haven't hit a winner all day and now you are going to use your "handicapping skills" to try and hit a 40 cent ticket?!

Hooseir Downs
Thistle/River
Hawthorne
Bulah
also offer this wager. Nobody has still answered my first 2 questions yet. What disadvantage is this to a track? Why don't gamblers play 10 10 cent supers to play with the tax loophole?

[Secretariat]

the dime super is GREAT.
just last week at arlington they had one pay 550.00 for a dime, the dollar super was 11,000. no other wager gives you this kind of return for the magnitude of the amount invested. my underlying bet was 14.40. no big deal if you loose but great if you hit it. on the other hand, this dollar wager would have cost 144.00, ouch !, that hurts if you loose it.
you hear people laugh at the dime super. they feel its beneath them to only bet a dime. i say if i can win 500 for a dime....



go ahead,
belittle and laugh all you want....



see you at the banbks deposit window.

[Skip away]

I for one applaud such a way to bet even though I dont partake in supers or triples. Horse racing needs to cater to those who dont have trust funds. Like the Grand Slam at NYRA, again not my type of bet but its a real cute way to have variety in your wagering menu.

Can you actually go to the track with a dime and bet one combo and hand the teller one dime? Or do you have to bet a minimum 10 combos making it an even dollar?

[Secretariat]

you can bet 1 dime.

[Secretariat]

i actually made the bet at a teller machine for 14.40 and got a payout slip for 60 cents i brouhgt to the teller. i imagine some would have tossed the sixty cents, but i didn't.

[Secretariat]

I have to admit, the people deciding on their 10 cent combinations at the machine is a bit frusturating. Almost as bad as the the guy who comes to the track with a few hundred dollars to play and is down to his last 40 cents. You haven't hit a winner all day and now you are going to use your "handicapping skills" to try and hit a 40 cent ticket?!

Hooseir Downs
Thistle/River
Hawthorne
Bulah
also offer this wager. Nobody has still answered my first 2 questions yet. What disadvantage is this to a track? Why don't gamblers play 10 10 cent supers to play with the tax loophole?


it is an advantage to the track because they are churning more wagers. they simply fractionalize all wagers to the dime level for calculation purposes. those who don't bet the dime and use the dollar are not familiar with the loophole, are to lazy to ask for ten dime tickets, or just don't care. it would certainly behoove them(if i may say behoove, LoL)to bet the dime instead of the dollar.

[eurobounce]

Ellis has a dime super that paid over $200k last year. But I think only one person had it and they had to post it as a $2 payoff but I am not 100% sure.

[oracle80]

Hate those people!!!! Usually standing there as they are loading into the gates too...jerks.

That being said, I say keep them. The gimmick supers are fun, but dont change the pick 6, $2 minimums!!!!
Oh yeah, these guys need to be gelded. Morons who stand there for 10 minutes betting 10 cent staright supers, shutting out players. Just great.
Nicknames are already forming at tracks and parlors for these guys. Ten Cent Tony, Dan the Dime, Loose change larry, spare change sam, etc
They need to be stopped, they clog up machines and tellers. Its not funny. Someone will be strangled some day when his 10 cent supers cost someone a real score.

[Seattleallstar]

golfpro and I have made thousands of dollars on this wager

[Thunder Gulch]

Oh yeah, these guys need to be gelded. Morons who stand there for 10 minutes betting 10 cent staright supers, shutting out players. Just great.
Nicknames are already forming at tracks and parlors for these guys. Ten Cent Tony, Dan the Dime, Loose change larry, spare change sam, etc
They need to be stopped, they clog up machines and tellers. Its not funny. Someone will be strangled some day when his 10 cent supers cost someone a real score.

The simple solution would be to put them down at some dedicated window or machine. On the other hand, if you miss a play, it's your own fault nine times out of ten. Sure you may pick up a little something extra in the post parade, but I would have to believe that most people who get shut out were just procrastinating.

[Secretariat]

i really don't understand why anyone would ridicule someone for betting within their budget, but then again, it takes all kinds to live in our world. one thing is for certain, those who bet the dime supers are usually betting with their own money which they probably earned through working. when you earn the money you bet, its more difficult to through it away.it should also be notedif the is no $1 payout, the dime get the whole payout.

[dr. fager]

it should also be notedif the is no $1 payout, the dime get the whole payout.

See this is what I don't get, if true, why should you benefit off the other pool that is primarily built of $1,$2 wagers?


This is exactly why the Pick 6 should never be messed with.....

[PeteMugg]

I really like the ten cent supers and the cheap trifectas. You can go out to the track with a plan to play a few races and hit them pretty heavy. Dime super combos are great time killers between your races.

I wouldn't single out Loose Change Larry when we're talking about idiots. These guys are no worse than the people who go up to bet and don't even know which horses are scratched or the guy that wants to make his plays for the entire day and waits til post time to do it. Or they don't have their wallet out ... or they have to flirt with miss pretty ... or they are so plastered they have no clue what they are doing.

[oracle80]

i really don't understand why anyone would ridicule someone for betting within their budget, but then again, it takes all kinds to live in our world. one thing is for certain, those who bet the dime supers are usually betting with their own money which they probably earned through working. when you earn the money you bet, its more difficult to through it away.it should also be notedif the is no $1 payout, the dime get the whole payout.
Paul, playing within your budget should always be done. But the super is a difficult bet to call out to a teller, and difficult to punch in to a machine.
These morons write down 50 different combinations, and punch them in one by one. I've seen them tie up a self serve machine for 5-10 minutes. Its rude. One guy shoud not be able to shut out 5 guys, espeically a guy betting a lousy 5 bucks.

[oracle80]

I really like the ten cent supers and the cheap trifectas. You can go out to the track with a plan to play a few races and hit them pretty heavy. Dime super combos are great time killers between your races.

I wouldn't single out Loose Change Larry when we're talking about idiots. These guys are no worse than the people who go up to bet and don't even know which horses are scratched or the guy that wants to make his plays for the entire day and waits til post time to do it. Or they don't have their wallet out ... or they have to flirt with miss pretty ... or they are so plastered they have no clue what they are doing.
DITTO! Pete I was just about to post the same thing. How about the guys who put their voucher in the machine and then handicap and check out the odds while they are betting? Incredulous. etiquette is, knwo what you wanna play, bet it, and get out of the way.

[dr. fager]

DITTO! Pete I was just about to post the same thing. How about the guys who put their voucher in the machine and then handicap and check out the odds while they are betting? Incredulous. etiquette is, knwo what you wanna play, bet it, and get out of the way.

Yep, stories like this remind me why I like betting from my couch so much...lol

[ezrabrooks]

I have to admit, the people deciding on their 10 cent combinations at the machine is a bit frusturating. Almost as bad as the the guy who comes to the track with a few hundred dollars to play and is down to his last 40 cents. You haven't hit a winner all day and now you are going to use your "handicapping skills" to try and hit a 40 cent ticket?!

Hooseir Downs
Thistle/River
Hawthorne
Bulah
also offer this wager. Nobody has still answered my first 2 questions yet. What disadvantage is this to a track? Why don't gamblers play 10 10 cent supers to play with the tax loophole?

I have never thought about tax reporting on a 10 cent bet. I always thought that tracks had to report anything over 300/1 return. Which on a 10 cent bet could a lot less than $600. I guess I can't answer your question.

Ez

[seconditis]

I always thought it was a $600 on a $1 bet (600/1). I have quite a few bets for a $1 and always pay when I get over the $600 limit. I really never bet big exoticts for $2 so I just figured the limit was $1200, but it is $600 on any bet from what I know. So correct me if I 'm wrong, but a $1 super ticket that pays $5,000 , you would be paying a lot of tax, but if I bet 10 10 cent super tickets they each pay $500 and I owe nothing. Unless I"m wrong, which is very possible, this is a great loophole in the rules. Yeah it would suck to have to keep punching in the same bet over and over at the track, but if you are not too lazy or the track is not too busy sounds like the way to go. Also if you bet online this is very easy to do.

[alysheba4]

Oh yeah, these guys need to be gelded. Morons who stand there for 10 minutes betting 10 cent staright supers, shutting out players. Just great.
Nicknames are already forming at tracks and parlors for these guys. Ten Cent Tony, Dan the Dime, Loose change larry, spare change sam, etc
They need to be stopped, they clog up machines and tellers. Its not funny. Someone will be strangled some day when his 10 cent supers cost someone a real score.
....... someday, i bet its happened before........hell i saw someone get knocked out for taking to long at the a.t.m at hollywood park.....classic, my only visit to belmont was the 04 belmont stakes, that was a real cluster fukc......124k people, girls sneaking into the mens restrooms, guys pulling cases on bear on their KIDS WAGONS around.....classic stuff. i love new york.:D

[Secretariat]

I always thought it was a $600 on a $1 bet (600/1). I have quite a few bets for a $1 and always pay when I get over the $600 limit. I really never bet big exoticts for $2 so I just figured the limit was $1200, but it is $600 on any bet from what I know. So correct me if I 'm wrong, but a $1 super ticket that pays $5,000 , you would be paying a lot of tax, but if I bet 10 10 cent super tickets they each pay $500 and I owe nothing. Unless I"m wrong, which is very possible, this is a great loophole in the rules. Yeah it would suck to have to keep punching in the same bet over and over at the track, but if you are not too lazy or the track is not too busy sounds like the way to go. Also if you bet online this is very easy to do.


it is $600, IRS requirements, if you pay anyone over $600 and they are not incorporated, they are to be issued a form 1099.
that includes the guy that painted your basement for cash, the guy that fixed your car for cash, etc.
it also should include your landlord if you pay him rent,BUT there is a specific exemption regarding giving your rent receiver a 1099.
the burden of issuing the 1099 is on the payor, not the receiver.
they even have a form you give to the payee where you specifically request his SS number to report the payment.

[Secretariat]

I always thought it was a $600 on a $1 bet (600/1). I have quite a few bets for a $1 and always pay when I get over the $600 limit. I really never bet big exoticts for $2 so I just figured the limit was $1200, but it is $600 on any bet from what I know. So correct me if I 'm wrong, but a $1 super ticket that pays $5,000 , you would be paying a lot of tax, but if I bet 10 10 cent super tickets they each pay $500 and I owe nothing. Unless I"m wrong, which is very possible, this is a great loophole in the rules. Yeah it would suck to have to keep punching in the same bet over and over at the track, but if you are not too lazy or the track is not too busy sounds like the way to go. Also if you bet online this is very easy to do.

it may be difficult to do, but for 25 % of the winnings, its worth it.

[ezrabrooks]

it is $600, IRS requirements, if you pay anyone over $600 and they are not incorporated, they are to be issued a form 1099.
that includes the guy that painted your basement for cash, the guy that fixed your car for cash, etc.
it also should include your landlord if you pay him rent,BUT there is a specific exemption regarding giving your rent receiver a 1099.
the burden of issuing the 1099 is on the payor, not the receiver.
they even have a form you give to the payee where you specifically request his SS number to report the payment.

Not that way at the track..it is based on odds..you can cash a ticket for more than $600 and not get a 1099.

[ezrabrooks]

I always thought it was a $600 on a $1 bet (600/1). I have quite a few bets for a $1 and always pay when I get over the $600 limit. I really never bet big exoticts for $2 so I just figured the limit was $1200, but it is $600 on any bet from what I know. So correct me if I 'm wrong, but a $1 super ticket that pays $5,000 , you would be paying a lot of tax, but if I bet 10 10 cent super tickets they each pay $500 and I owe nothing. Unless I"m wrong, which is very possible, this is a great loophole in the rules. Yeah it would suck to have to keep punching in the same bet over and over at the track, but if you are not too lazy or the track is not too busy sounds like the way to go. Also if you bet online this is very easy to do.

300/1 on a $2 bet gets you to the $600 dollar threshold..isn't that why playing a $1 ticket was smart. I am beginning to confuse myself! If you are correct about playing 10 centers and staying under the radar...you would be a fool not too.

Ez

[seconditis]

The question is how long until the gov. figures this out. I don't have the large bankroll that some of you have, but when I see some of you guys betting $500 to win on a horse, does this mean if you hit you are definitely paying taxes on your winner? If so why not 10 $50 tickets?

[ezrabrooks]

The question is how long until the gov. figures this out. I don't have the large bankroll that some of you have, but when I see some of you guys betting $500 to win on a horse, does this mean if you hit you are definitely paying taxes on your winner? If so why not 10 $50 tickets?

When you win $600 or more, and that amount is 300 times your wager, the track issues you a 1099 type form (not a 1099, but similar). If your winnings are less than 300 times your wager, reporting is between you and the IRS. Technically, all gambling winnings, less losses, are taxable. Not a CPA, but that is my understanding.

Ez

[bogeydaman]

I always thought it was a $600 on a $1 bet (600/1). I have quite a few bets for a $1 and always pay when I get over the $600 limit. I really never bet big exoticts for $2 so I just figured the limit was $1200, but it is $600 on any bet from what I know. So correct me if I 'm wrong, but a $1 super ticket that pays $5,000 , you would be paying a lot of tax, but if I bet 10 10 cent super tickets they each pay $500 and I owe nothing. Unless I"m wrong, which is very possible, this is a great loophole in the rules. Yeah it would suck to have to keep punching in the same bet over and over at the track, but if you are not too lazy or the track is not too busy sounds like the way to go. Also if you bet online this is very easy to do.

If the track offers a $.10 super and you want to bet a $1 (or any) combination your best bet is to make the bet at one of the machines (or online, etc) and repeat ticket 10 times. Does not take long to repeat the ticket. You will save the taxes if the $.10 payoff is <600. Only way to go.

[Secretariat]

When you win $600 or more, and that amount is 300 times your wager, the track issues you a 1099 type form (not a 1099, but similar). If your winnings are less than 300 times your wager, reporting is between you and the IRS. Technically, all gambling winnings, less losses, are taxable. Not a CPA, but that is my understanding.

Ez
the rule is 1099 on 600 times your wager, ie if you wager 1 dollar and win 600 you get a 1099, 2 dollars 1200 gets you a 1099

[ezrabrooks]

the rule is 1099 on 600 times your wager, ie if you wager 1 dollar and win 600 you get a 1099, 2 dollars 1200 gets you a 1099

Not to beat this into the ground, but the triggering rule mandates that a W-2G (not a 1099) be issued where the winnings were over $600 and are also at least 300 times the amount wagered. That is the way the IRS rule was originally written. The rule was written prior to $1 bets, with the 300/1 getting a $2 bet to $600. You are correct in the end result.

Ez