Gambling Taxes

By Staff
Nathan Strickland
Columnist
Is it fair to have to pay taxes on money you have won from gambling? I’m not sure if it is or isn’t. I imagine it is a great source of revenue for states with lotteries and casinos, but what if a person, who has only won once, is very unlucky and just lucked out this one time.
I have never won the lottery and don’t imagine I will anytime soon because you got to pay to play and I don’t so that pretty much cancels me out.
I have had friends, however, to hit it big on slot machines in Tunica. The key to gambling is to not take money to the casino that you don’t already plan on loosing. Because the odds of winning are already against you once you enter the gambling floor.
My friends and I all took a trip into Mississippi for my bachelor’s party in April and some of them got lucky and locked down a couple of slot machines at Sam’s Town. My friends were able to come away with more money then what they began with. Normally the trip would have ended in disaster, but they just got lucky this time.
Now that this year’s tax season has rolled around they are paying for it. I am in no way an expert on taxes, but I don’t think it is fair to congratulate someone for winning money that they took a chance on, then come tax season ask that same person to give some of it back. You don’t have to pay taxes for winning a stuffed animal at the fair, so why do you have to when you win money?
My friends didn’t have to pay any taxes on the winnings they won from playing blackjack and poker games. What is the difference in betting at a table playing cards and betting on a slot? I’m sure there is a logical explanation, but I personally have no idea. They seem the exact same to me. Both are forms of gambling money, one is more about strategy and the other is strictly by chance, but they are still equal when it comes to risking some money to win more money.
I just don’t agree with paying money back that you have won fair in square. I guess this situation just reinforces the old saying, if you are a United States citizen the only thing that you are forced to do in life is to die and pay taxes. There I’ve said my peace. Until next time, Later Dayz…