Kansas Gambling Losses
LIMITATIONS ON LOSS DEDUCTIONS. Some states do not permit amateur gamblers to deduct gambling losses as an itemized deduction at all. These states include Connecticut, Illinois, Indiana, Kansas, Massachusetts, Michigan, North Carolina, Ohio, Rhode Island, West Virginia, and Wisconsin. That is not kansas correct way to claim your gambling losses. You are required to report your gambling winning whether or not you qualify to deduct your losses. This kansas that if you claim the standard deduction, you are still obligated to report and pay malta gambling license cost on all winnings you earn during the year.
Earlier this year, it seemed like Kansas was sure to legalize sports betting but, to date, none of the attempts have succeeded. Kansas is basically out of time to legalize sports gambling during this legislative session. This is the last week for the session and that means, if they don’t get a bill advanced, it will have to wait until 2020.
The Debate Over Sports Betting
One of the main issues causing difficulties for Kansas is the question of where gamblers would be able to place their bets. Another quandary is who will run the sportsbooks, and the third issue is whether there will be online betting apps and if so, who will run them as well.
Sports Betting Supporters
To Rick Skinner, who is the GM of the Hollywood Casino in Kansas City, sports betting would fit in perfectly among the gaming already taking place at the facility:
“It would just be another great attraction for the bricks-and-mortar facilities in the state. We’re one of four casinos in Kansas, but we have four competitors right across the river.”
Legal sports betting would pull people from the Missouri gambling halls and bring in some welcome money to Kansas. One thing Skinner wants people to think about is the fact that there’s a huge risk for the operators of sportsbooks. Take, for example, the latest hit that sportsbooks took when Tiger Woods won with a surprise comeback. Skinner says that’s the “biggest one-day loss in sportsbook golfing.”
At Kansas Speedway, Penn National Gaming operates the Hollywood Casino, and if sports betting is legalized, officials there say they will finally be able to compete with the “black market” gambling that pulls in over $60 billion a year. Jeff Morris, the VP of Public Affairs and Government Relations for Penn National Gaming, said:
“If we can’t compete with them, people will continue to go to the unregulated market. We have the compliance pieces in place to provide a safe wagering place for our customers.”
One high-profile supporter is Governor Laura Kelly, a Democrat. She hopes that the state can come to some kind of agreement soon.
Opponents of Sports Betting
Not all lawmakers want legal sports betting in the state, or if they do, they want the casinos kept away from the activity. Instead, they want the Kansas Lottery to run sports gambling. Republican State Representative Francis Awerkamp is one of those legislators. He wants to keep casinos from having access to the betting habits of gamblers. According to Awerkamp, casinos would be able to use that data to target gamblers, leading to more problem gambling:
“Are we trying to encourage people to gamble more? Is that a common good? I don’t think that’s a proper use of personal data.”
How Will Kansas Move Forward?
Oklahoma Gambling Losses
If casinos run sports betting and pay taxes to the state, they could bring in a few million dollars a year in tax revenue. If the state runs sports gambling, there would be more money going into their state.
Right now, the Constitution says that the state of Kansas has to run any form of gambling, which is why their government owns all four casinos there and hires companies to build and operate them. If state-operated sports betting were to pass, then that could look like bets taken through lottery retailers, something run by the state lottery, or via an app on a tablet or phone.
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Voluntary Exclusion Program
Those who have gambling problems or who are concerned about their gambling have the option to exclude themselves from the casinos. Once enrolled, voluntarily excluded persons will be prohibited from entering and gambling in any of the state-owned casinos in Kansas, which include Hollywood Casino in Kansas City, Kansas Star Casino in Mulvane, Boot Hill Casino in Dodge City, and Kansas Crossing Casino in Pittsburg. Applicants can enroll in the Voluntary Exclusion Program for two years or for life. Voluntarily excluded persons will be removed from all casino mailing lists and players rewards systems. If voluntarily excluded persons enter a casino and gamble, they must surrender any winnings, gaming chips, or gaming tickets found in their possession. Enrollment in the Voluntary Exclusion Program is free and confidential. For more information about the Voluntary Exclusion Program, please call the Kansas Racing and Gaming Commission at 785-296-5800 or visit their website here.