Rules and Regulations for ON TRACK Pick 6 Bonus Payouts

[Andymays]

RULES & REGULATIONS

BONUS PAYOUTS

• The Bonus paid will equal 20% of the official Santa Anita On-Track Pick 6 payout for having all six of the six winners.

• Consolation payoffs are not included in the Santa Anita On-Track Pick 6 Bonus computation.

• Winning Santa Anita On-Track Pick 6 tickets must be purchased on-track at Santa Anita Park to qualify for the Bonus.

• The Bonus will not apply to pools on racing days with a Pick 6 carryover.

HOW TO PLAY

• Swipe your THOROUGHBREDS Card at any pari-mutuel window (with a live teller or a self-service machine) prior to placing your Santa Anita On-Track Pick 6 wager.

• If you are not yet a THOROUGHBREDS Member, sign up for free at the Main THOROUGHBREDS Center.

• Santa Anita On-Track Pick 6 wagers may also be placed on any smart phone through Santa Anita’s on-track mobile wagering site.

• The Santa Anita On-Track Pick 6 is a minimum $2 wager.

• The Santa Anita On-Track Pick 6 will consist of the last six live races run at Santa Anita Park, unless otherwise denoted in the Official Daily Program.

BONUS PAYOUT TAX LIABILITY

• Bonus winners will be solely responsible for the tax liabilities from their winnings. Winners will be required to complete a Form W-9 prior to receiving the Bonus check and will receive a Form 1099-Misc at year end.

• The Bonus will be paid in the form of a check. Visit any Pari-Mutuel Information Window to complete the required Form W-9 or other applicable tax form. Pari-Mutuel Information Windows are located in the following areas: Mainline 2 – 1st Floor Grandstand Lower Club House Mezzanine level above the Club House boxes

• The Bonus payout is non-transferable and will only be issued to the account holder responsible for the winning wager. Santa Anita cannot split the Bonus payout among multiple players.

RETROACTIVE BONUS REGISTRATION FOR NON-THOROUGHBREDS

During the month of January players who purchase a winning Santa Anita On-Track Pick 6 ticket at Santa Anita Park prior to signing up for a THOROUGHBREDS Card or who fail to scan their THOROUGHBREDS Card when placing the Santa Anita On-Track Pick 6 wager may apply for a retroactive Santa Anita On-Track Pick 6 Bonus payout by completing the required documents at any Pari-Mutuel Information Window. Players must bring their winning Santa Anita On-Track Pick 6 ticket to the Pari-Mutuel Information Window and complete the required documents prior to CASHING their winning Santa Anita On-Track Pick 6 ticket to be eligible for the Bonus. Only tickets purchased at Santa Anita Park will be eligible for the Bonus.

LENGTH OF PROMOTION

The Santa Anita 20% Pick 6 Bonus promotion runs from January 1 through January 31,2013. Santa Anita Park may choose to extend the 20% Pick 6 Bonus beyond January 31, 2013. Details will be announced prior to the end of the current promotion.

QUESTIONS

For more information about the Santa Anita On-Track 20% Pick 6 Bonus visit any Pari-Mutuel Information Window.

JUDGING

Santa Anita Park reserves the right to interpret all questions and conditions regarding this promotion, without claim for damages or recourse of any kind. All questions not covered in these rules will be decided by the management of Santa Anita Park.

[Andymays]

Form 1099-MISC

http://www.irs.gov/pub/irs-pdf/f1099msc.pdf

Box 3. Generally, report this amount on the “Other income” line of Form 1040 (or Form 1040NR) and identify the payment. The amount shown may be payments received as the beneficiary of a deceased employee, prizes, awards, taxable damages, Indian gaming profits, or other taxable income. See Pub. 525. If it is trade or business income, report this amount on Schedule C or F (Form 1040).


Form W-9

http://www.irs.gov/pub/irs-pdf/fw9.pdf

[Andymays]

We know the P6 bonus will be taxable but do we know if the winners will be able to write off losses to the extent of their winnings paid as a prize on a 1099-MISC? And if they can't then does Santa Anita have an obligation to tell the players that?

If not then that would be another deterrent for going to Santa Anita to play this wager.

http://www.irs.gov/pub/irs-pdf/p525.pdf

Prizes and awards. If you win a prize in a lucky number drawing, television or radio quiz program, beauty contest, or other event, you must include it in your income. For example, if you win a $50 prize in a photography contest, you must report this income on Form 1040, line 21. If you refuse to accept a prize, do not include its value in your income. Prizes and awards in goods or services must be included in your income at their fair market value.


Andyc?

[Andyc]

We know the P6 bonus will be taxable but do we know if the winners will be able to write off losses to the extent of their winnings paid as a prize on a 1099-MISC? And if they can't then does Santa Anita have an obligation to tell the players that?

If not then that would be another deterrent for going to Santa Anita to play this wager.

http://www.irs.gov/pub/irs-pdf/p525.pdf

Prizes and awards. If you win a prize in a lucky number drawing, television or radio quiz program, beauty contest, or other event, you must include it in your income. For example, if you win a $50 prize in a photography contest, you must report this income on Form 1040, line 21. If you refuse to accept a prize, do not include its value in your income. Prizes and awards in goods or services must be included in your income at their fair market value.


Andyc?

Calling a pig a chicken doesn't make it a chicken. A taxpayer would be on firm ground putting the bonus in with their gambling income and writing off losses against it.

I also believe that a winner who is part of a group could file a Form 5754 and divide the bonus amongst the group.

[Andymays]

We know the P6 bonus will be taxable but do we know if the winners will be able to write off losses to the extent of their winnings paid as a prize on a 1099-MISC? And if they can't then does Santa Anita have an obligation to tell the players that?

If not then that would be another deterrent for going to Santa Anita to play this wager.

http://www.irs.gov/pub/irs-pdf/p525.pdf

Prizes and awards. If you win a prize in a lucky number drawing, television or radio quiz program, beauty contest, or other event, you must include it in your income. For example, if you win a $50 prize in a photography contest, you must report this income on Form 1040, line 21. If you refuse to accept a prize, do not include its value in your income. Prizes and awards in goods or services must be included in your income at their fair market value.


Andyc?

Calling a pig a chicken doesn't make it a chicken. A taxpayer would be on firm ground putting the bonus in with their gambling income and writing off losses against it.



I also believe that a winner who is part of a group could file a Form 5754 and divide the bonus amongst the group.

Forgive the dumb questions Andy but here is another one. If Santa Anita is able to pay the bonus as prize money or as an advertising expense and write that off would what you have written above still be true? The reason I'm asking is that when this all started a few months back it was thought that the prize money couldn't be written off. What would be the difference if they just added the bonus on the signer at the window? Or is there no difference other than the winner could be subject to withholding under certain circumstances (like 6 paying $4200 and having the bonus put you into withholding)?

Thanks!

[Igeteven]

One must be on track to get this, how many real player really play in person, how s are really there when place the bet.

Big players, don't show up,

[Kermit]

"...how s are really there when place the bet."

Certainly words to live by.

[Crazykid]

retard? has to be.

[Igeteven]

[quote="Crazykid"]retard? has to be.[/quote

What the hell do you know about the pick 6, you don't play it, will you ever shut up

[Kermit]

retard? has to be.[/quote

What the hell do you know about the pick 6, you don't play it, will you ever shut up

He plays it. Trust me.