Want tons of money in the Pick 6 here in California

[Southieboy]

I would be shocked if non-carryover pick 6 pools on weekdays in the pick 6 are anywhere close to 200k even with bonuses.

[Sun Devil]

I would be shocked if non-carryover pick 6 pools on weekdays in the pick 6 are anywhere close to 200k even with bonuses.

You would be shocked if anything positive ever happened in California. Have you asked Santa to abolish racing out here beginning in 2014?

[Goofonroof]

I would be shocked if non-carryover pick 6 pools on weekdays in the pick 6 are anywhere close to 200k even with bonuses.

You would be shocked if anything positive ever happened in California. Have you asked Santa to abolish racing out here beginning in 2014?

Wow. An aggressive Sun Devil gettin jiggy with it. Nice!

[Andyc]

My guess is that there would have to be two signers to get it right. The bonus would probably have to be paid as prize money otherwise you get into withholding at 5k. If the math is wrong please correct.

The last thing you would want is to have the payoff shown as a prize on a 1099 Form. Can't deduct losses against a prize. Technically, I can't see how the additional payoff wouldn't be considered just winnings from gambling subject to the reporting and withholding rules in place.

[Andymays]

My guess is that there would have to be two signers to get it right. The bonus would probably have to be paid as prize money otherwise you get into withholding at 5k. If the math is wrong please correct.

The last thing you would want is to have the payoff shown as a prize on a 1099 Form. Can't deduct losses against a prize. Technically, I can't see how the additional payoff wouldn't be considered just winnings from gambling subject to the reporting and withholding rules in place.

That still may be the best way to pay the bonus. If a P6 happened to pay say $4900 and the bonus put it over the 5k threashold then it would be subject to withholding right?

I finished in the money in one of the TVG contests and got $500. They made me sign a 1099 for the money.

Do you think they could give the winner the option?

[Andyc]

That still may be the best way to pay the bonus. If a P6 happened to pay say $4900 and the bonus put it over the 5k threshold then it would be subject to withholding right?

I finished in the money in one of the TVG contests and got $500. They made me sign a 1099 for the money.

Do you think they could give the winner the option?

Whether or not there is withholding wouldn't affect your tax liability. I understand that most people want 100% of their winnings immediately but hitting a 2500-1 bet isn't a weekly occurrence so for the few times that it happens I'll put up with the withholding. of course it would be nice to avoid the withholding with 2 signups but not at the expense of calling one a prize.

There is a distinction between a prize and gambling winnings. A prize would not require you to risk your money in order to win. The Del Mar hat contest is a good example.

[Triple Threat]

Lester I am all for a 25 cent pick six. For $2 I cannot accurately cover the 12-1 shots that keep winning. More wins for everyone. As I have always said show me an unhappy winner,I show you an idiot.

Sharp Post

Woodbine has it right with their 20 cent pick 4 bets, 20 cent tri's and supers. That is why they produce the most winners. The proof is in the pudding.

[Andymays]

That still may be the best way to pay the bonus. If a P6 happened to pay say $4900 and the bonus put it over the 5k threshold then it would be subject to withholding right?

I finished in the money in one of the TVG contests and got $500. They made me sign a 1099 for the money.

Do you think they could give the winner the option?

Whether or not there is withholding wouldn't affect your tax liability. I understand that most people want 100% of their winnings immediately but hitting a 2500-1 bet isn't a weekly occurrence so for the few times that it happens I'll put up with the withholding. of course it would be nice to avoid the withholding with 2 signups but not at the expense of calling one a prize.

There is a distinction between a prize and gambling winnings. A prize would not require you to risk your money in order to win. The Del Mar hat contest is a good example.

As a P6 player how would you want the bonus paid if one were offered? Should the winner have a choice? What's the best way for the Track to account for the bonus?

[DegenerationX]

Easy I would want my bonus to be a Prius. It would really help me live with the fact that I destroyed 10 redwoods in losing tickets chasing the P6 win.

[Trackmomma]

That still may be the best way to pay the bonus. If a P6 happened to pay say $4900 and the bonus put it over the 5k threashold then it would be subject to withholding right?

I finished in the money in one of the TVG contests and got $500. They made me sign a 1099 for the money.

Do you think they could give the winner the option?

In order to deduct their expenses on the contest, they need to 1099 everyone who wins a prize. The threshold for an individual is $499 a year. Since they are handing out multiple prizes, they probably 1099 everyone. Believe me, they are writing off every penny they spend on these contests.