There are very few updates this morning on where to place bets today so that a large payoff isn’t hit with an undeserved tax bill, and, to be frank, there remains a lot of confusion.
But as first post rolls nigh at tracks on the East Coast, the best bet seems to be sticking with your preferred account-wagering operation, as many of the biggest operators have said that their systems will be compliant with the tax revisions. That list includes Twinspires, TVG, XpressBet, DRF Bets (and other XpressBet betting partners), NYRA Bets, and Amway.
The good news is that sites that are compliant with the new tax rules are largely advertising that fact. If you are planning on betting today at a site that is not advertising that it is tax compliant, it’s safest to assume that it isn’t. Make other plans.
The largest question mark surrounds those sites that are serviced by AmTote, the bet-processing company owned by The Stronach Group. AmTote processes bets for XpressBet and NYRA, and we know that those two companies will be compliant. But efforts to reach AmTote officials about the status of other sites in their network – Maryland’s tracks and OTBs, Gulfstream Park, among a number of other locations (http://www.amtote.com/customer-list-view) – have been unsuccessful since Tuesday, as have efforts to reach managers at some of the facilities. And so the best strategy if you are betting at a track today is to approach the mutuel bay and ask for the mutuel manager. At least that’s the best strategy I can think of.
There are no question marks surrounding the sites who are clients of Sportech. A company spokesperson said this morning that they are hoping to update the systems for their clients by “the end of October,” but she would not answer any additional questions. Sportech is the bet-processing company for all of Penn National Gaming’s properties, Parx racetrack, New Jersey's tracks, the OTBs in Connecticut, and a number of small ADWs.
All of the clients of United Tote have been updated, so betting at Churchill Downs and the Red Mile simulcast facility in Lexington is safe today. You can find United Tote’s clients here: https://www.unitedtote.com/company/customers
Good luck today. I know the math doesn’t work out in any way, shape, or form, but here’s hoping everyone out there hits a tax-free bomb.