FINALLY A (TAX) BREAK - SIGN THE PETITION TO END UNFAIR TAXATION ON HORSEPLAYERS!

Hello My Loyal Minions,

I'm not sure you know this (unless you're throwing around big paper at The Office on a regular basis like your's truly…) but the way Horse Players are taxed on their winning wagers, especially exotic wagers does not take into account the total amount wagered only that individual winning wager, so there is a disproportionate tax burden placed on the bettor. 

Let me break it down for you: I win a Pick-4 on an individual ticket that costs $12 and pays out $800.  I get taxed using the outdated concept that I just wandered into the local betting parlor, pulled a Rain Man and just bet a single .50 Pick-4 2x2x2x3 ticket out of the air, yes it is possible but most likely not what really happened.

What most likely happened is that I had a multi-ticket plan for success where I wagered somewhere in the $200-$300 range (for a 37% R.O.I) on the P4 on multiple combinations and tickets and this was just the one that hit.  

So instead of getting fairly taxed on the total investment I made of $300 the IRS hammers me for the $12 wager, not cool. It is not only unfair taxation, it also has a broad sweeping ripple effect on the entire industry, taking money directly out of the bettors pocket and leaving them less dollars to wager and pour back into the pipeline to sustain the industry. 

(Please see the post "A Polite Response to Mr. Andrew Beyer" for more details on this)

Most serious Handicappers don't even calculate profit on a wager by wager basis, it is based on total wagered for the day, (or month or year whatever your reporting period is) because that gives you a more accurate picture of your actual profit and R.O.I.

(Dorked-out math example for the layman) 
The way the Man holds you down: $12 wager-$800 winnings = "taxable profit"of $788

How the Petition will change that (a.k.a how it should be calculated:)
$300 in total wagers - $800 winnings = actual taxable profit of $500 which means getting taxed on $288 LESS than they take currently. 

That is a BIG difference in taxes, in actual dollars taken out of circulation and not wagered back into the pools, and to the serious bettor a MAJOR detriment to your yearly bankroll.

So please sign the Petition for the betterment of Horse Racing as a whole, not just your's truly, but more money in my pocket means more left to buy my homies drinks later…

Thank you for signing and please feel free to pass it on and share with everyone you know.
PLEASE SIGN HERE!
Here is what DRF's C.E.O had to say about it:

That's All I got.
raychihaspoken

BELMONT STAKES 2011 $1M PICK 4

Um well it's not starting so hot.

Missed entering my Pick 6 due to the SUPER reliable internet here....(million dollar what could have been stories to follow...)


THEN I entered my bets for the 7th under the 8th race, (and of course hit it).
It is time to TIGHTEN IT UP!

Ok enough whining. Here's our play at the 1 Million Pick 4. (The biggest ones I've ever put together.)
A.)
8th: 2,7 ($10.80!)
9th: 2,3
10th: 4,6,7
11th: 4,6,9,10,12
$300

B.)
8th: 1,2,3
9th: 3,5,7,8
10th: 1,4,6
11th: 4,5,9
$216

C.)
8th: 1,2,7
9th: 2,3,8
10th: 4,6
11th: 4,6,9,12
$216

D.)
8th: 1,2,3,7
9th: 2,6,8
10th: 3,4,6
11th: 1,4,6,9,12
$90

Please prepare for the winning.

Belmont Stakes 2011

Good Morning Race Fans,
6:30am isn't when Ray Chi normally wakes up, but today's special....

It's Belmont Stakes Day 2011 and we've got a full day of hard core wagering ahead of us, (as well as my body weight in caffeine and booze-not sure in which order.) We're STILL working on the parlay of parlays and are planning a MASSIVE onslaught on the 1M Pick 6 and 1M Pick 4, (of course peppered in with multiple Superfectas, Tri's and Exactas for good measure!) A couple HUGE prices came in yesterday so theres a double carryover of $144,003 just to make it interesting.

I'm pretty bummed I can't be kicking it with my homeys in our usual crappy booth at my North Office swilling Crown Royal like theres going to be a drought, and cashing tickets together, but I'll have to do this solo via the interweb....just know I'm with you in spirit and please remember I'M IN ON ALL PARLAYS!

Let's Do This Shit. (Masterful Insight and Tickets to Follow...)

Preakness Play by Play 2011 Part 2

Here's my Preakness Day Pick 4
9th)   2,5,6
10th) 1,2,5
11th) 1,4,6
12th) 4,6,8,9,11
Notice the COMPLETE absence of the 5 horse in The Preakness? #5 Shackelford crushed Ray Chi and his Loyal Parlay Partners hopes and dreams of absolute victory today, along with this ticket and other 2 Pick 3 tickets we were live to, oh well back to the drawing board.

Belmont Stakes Blowout - 2010

Um Yeah,

You do everything you can to prepare for a big race day. You watch the key prep races, pour over the work out reports, try to decipher any clues from the plethora of pre-race articles, (of course check what Beyer and Crist think), and then most importantly: You grab a tasty beverage, sit down, and you get comfortable with the Daily Racing Form for about 8 hours and do your homework!

Sometimes though, even if you've done all of the things you are supposed to do, it all still goes horribly wrong.

I definitely can not remember a time in the over a decade I've been betting on the Triple Crown, that the favorite got smoked by some ridiculous long shot, this many times on one day. There were even a few of the races, (including the Belmont), that the favorite was out of the money all together!

So this is what I always do in the eyes of defeat, (I mean BESIDES drinking 15 glasses of Bourbon by myself with the shades drawn), I go home, open The Form, I look at my notes, and see how I could have possibly whiffed so badly. How did I miss that horse? Why when I was formulating all of my bets, wasn't that horse included? Was there something I overlooked, forgot, misread, or am I just a total Jackass? (Don't answer it's a rhetorical question.)

So that is what I did and you know what, I couldn't have picked ANY of those horses in races 9-13. None of them.

• Champagne d'Oro - Too slow, and far superior competition in the race.
• Winchester - Seriously? Against Gio Ponti AND Court Vision? C'mon!
• Drosselmeyer - Um let's see, hasn't had a 1st place since January, is spotting 11 Beyer points to Ice Box, AND had continuous sore leg problems AND was working out in bar shoes?
•  (Um, pass whatever your smokin buddy, cause it must be the good stuff.)
• J L Bernstein /Ezzy - (Ray Chi's spirit was broken, so he left and didn't watch, but a 10-1 and 17-1 culminated in a $6,884 Pick 3 and a $349,628 Pick 4. WOW.)

Just remember it's a horse race, and anything can happen. Sometimes you just get blown out by a 39.5-1 shot who goes wire to wire, (even though he was only like the 8th fastest horse, ran a bounced 60(!) in his last race, and had been beaten ALREADY by one the races' leading contenders, BUT he probably got a slap-shot on the ass of Crystal Meth before he ran.) It happens. BUT does it happen ALL DAY on Belmont Stakes day? No not really. So shake it off and have a cocktail or ten, stop being such a baby, and get back up on the horse.

Seriously, there's a $930,495 carryover on Wednesday and I've got work to do. Who's up for a Parlay?

Today's Hourly Rate: - $50.50hr


That's all I got,
raychihasspoken