06/17/2014 8:33AM

Message from DRF CEO on tax reform for horseplayers

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The National Thoroughbred Racing Association and key members of Congress recently delivered a letter to the Department of Treasury in support of an important tax reporting and withholding clarification for horseplayers. The change would minimize the effect of unfair, outdated and burdensome tax regulations that tie up millions of dollars in parimutuel handle on an annual basis. This is a significant issue to racing and to all horseplayers. This issue, fairer treatment for bettors, has been championed by Steven Crist for years.  Unfair takeout rules drain the sport of money and unfairly cause bettors to often pay taxes on a false basis because the total size of the bet is not considered by the IRS, only the part of the bet that yielded the winnings.

Thousands of individuals have signed a petition at Change.org to express their support for the tax clarification. We consider this a good start, but we need every fan, horseplayer and industry participant to express their support for a national regulatory change that has a positive impact on every segment of our industry.

Here’s who will benefit from these proposed changes:

1. A horseplayer who frequently places exotic wagers that potentially pay large sums.

2. A racetrack or ADW operator who may lose horseplayers to other forms of gambling that have more favorable reporting/withholding rules.

3. An owner who could benefit from elevated purse money as a result of increased wagering activity through a higher level of churn.

4. A breeder whose bloodstock values are aligned with the health of the industry.

5. A trainer or jockey whose compensation is tied to purse levels.

6. A sales company or consignor whose success depends on demand for racehorses.

7.  A horsemen’s association executive representing your membership.

8. A fan who wants to see a thriving racing industry.

9. A member of a support industry whose livelihood is tied to horse racing and breeding.

I ask that each of you take a few seconds to sign the petition.

Please sign the petition right now by clicking here.

Thank you.

John J. Hartig
Chairman & CEO
Sports Information Group /
Daily Racing Form LLC

Stephen Mercier More than 1 year ago
if you don't sign you deserve what you get....just sayin....
Joseph Giambra More than 1 year ago
Walter, You realize that you are falling on deaf ears anytime you ask DRF to lower their prices. The only ones who take it on the chin in horse racing are the true heart and soul of the games men and women like you and me. We are the ones that truly make this sport possible, by putting our hard earned money through the windows and our local tracks, OTB parlors and online sites.
Walter More than 1 year ago
Very true Joseph. That's why I made the comment further below regarding signing the petition only because it would benefit horseplayers. I really could care less about the other "benefits" listed in the article. This sport has really been an "us vs. them" battle.
Walter More than 1 year ago
John Hartig, I took a few minutes and signed the petition. Now I ask you to take a few minutes to lower prices on the print edition of the DRF. It is way too expensive and you are pricing yourself out of the market. Thanks, Walter
Jackson Jackson More than 1 year ago
MESSAGE to DRF CEO - Fix your website . I can only read the DRF plus articles I've pre-paid for sporadically. Apparently at the whim of your #$#$ up website . When my subscription runs out I will have been #$%$#$ out of 2/3 of what I paid for. You will expect me to pre-pay to be $%^%$# out of what I pay for again. YOU OWE ME 2 months worth of access at this point and you think I'm going to allow you to continue to #$%$ me out of what I pay for. I'm very tired of this PAGE CAN"T BE DISPLAYED bull @#$# . I don't want you to tell me to contact customer non-service. I don't want to have to beg for what I've already paid for . CAN YOU UNDERSTAND THAT !!
jaybern1 More than 1 year ago
MESSAGE to JACKSON JACKSON - That's what you get for subsidizing this wretched rag.
Pat More than 1 year ago
Why not direct your efforts to get CDI to lower their obscene take out?
Chad mc rory More than 1 year ago
We all need the Clintons' tax dude.
TEDK215 More than 1 year ago
.8....a fan who wants to see a thriving racing ind. free of horse coctails. inhumane jockeys who zapp their assigned horse, way to high takeouts, owners who are so greedy they forget the meaning of the word INTEGRITY,........ETC. ETC.
soroka More than 1 year ago
Pleased to sign; after the worst perp in racing goes to the front. Nine dollars for a daily pamphlet, while using non-proprietary data without proper compensation to those owner,trainer's,breeder's and racetrack operators that are the information source. Ed O'bannonn own any runners ?
Cover2 More than 1 year ago
Was all set to sign, but not after reading many comments. I will not sign it IIIether !!
George Grennan More than 1 year ago
I will never sign anything under change.org!