5 Things Every Gambler Should Know Before Taking an Olympic Vacation
On Monday, February 8, the entirety of the gambling world wept in unison as pictures from a celebratory New Orleans flickered across nearly every sports book TV set on the globe.
The Super Bowl was over, the Saints emerging victorious, and as CBS broadcasters closed out the game's festivities they were also placing a moratorium on big gambling action until March Madness.
Added to this, both the World Poker Tour and European Poker Tour simultaneously went on break, golf hadn't really started back up yet and neither had horse racing.
What was a rounder to do? Bet on NBA games? Come on, everyone knows that's fixed!
All kidding aside, we are at a lull point in the gambling calendar and normally hardcore gamblers would have to turn to the NBA All-Star Weekend for their betting fix.
But this is one of those magical gambling leap years, where the Winter Olympics brings both massive sporting attention and gambling action.
But before you rounders run off to the snowy rainy wonderland of Western Canada to get in on the Olympic action, let me dispense to you five pieces of information every gambler should know before booking a Vancouver Olympic vacation.
In this gallery
While it is true that, according to Canadian tax regulations, the Canadian government does not collect taxes on provincial lottery or gaming winnings, this is not a benefit to you if you’re a visiting American. Anything you win in Canada is subject to American tax law if you are in fact an American citizen. Oh, and to make matters worse, when you’re paying taxes on that bad beat jackpot you hit while vacationing in the Great White North, Canadians winning big in Vegas most likely will never have to pay a dime of that money to American or Canadian taxes…lucky Canucks.
Who is Wang Meng you ask? She is a gold medalist, Chinese speed skater, who specializes in the women’s short track 500 meters sprint. Why should you care? Well, she’s the most heavily favored athlete, according to the betting line, to win a gold medal at Vancouver this year —going off at the ridiculous price of 1/6 in some places. Other big favorites include skater Sven Kramer—who already took down the men’s 5,000 meter—in the men’s 1,000 (1/5), skater Martina Sablikova in the women’s 5,000 meter (3/10) and figure skater Evgeni Plushenko in the men’s singles (4/9). As for long shots, try Mexican skier Hubertus von Hohenlohe in the alpine skiing men’s giant slalom (2,000/1)…or maybe Hohenlohe again in the men’s alpine overall (2,000/1). Hmmm, something tells me this just isn’t going to be Mexico’s year.
Okay, maybe it’s not fair to pick on Mexico. After all, they aren’t the least likely nation to medal. That’s a title that belongs to either Algeria, Jamaica, Ghana, Senegal, Tajikistan, Ethiopia, Chinese Taipei, Albania or Columbia, depending on who’s setting the line. My suggestion is that you avoid all medal bets involving this group of countries entirely. Oh, and at least one place is offering odds on whether Luxembourg will win the medal count. This is the worst sucker bet of them all. Why you ask? What makes Luxembourg’s Winter Olympic chances any more preposterous than Senegal’s or Columbia’s? Well, while Senegal and Columbia have at least one athlete competing in the games this year, Luxembourg doesn’t have a single representative…so I’m pretty sure their chances of besting the field are remote. 
Now Vancouver is no Vegas—or Hammond, Indiana for that matter—but it does have at least one big time casino, located downtown, to help supply visiting rounders with their every need. The Edgewater Casino offers a wide range of pit games, a fully stocked slots floor and a brand new poker room, which has received good marks from high stakes poker pro and Vancouver resident Brad Booth. As expected, Edgewater is orchestrating a large celebration for the Olympic Games, complete with special bonuses and prizes. It’s not Vegas, but a gambler could do a lot worse than Vancouver…I mean what if the Games were in Tunica?
Okay, I’ll admit every gambler might not be interested in this one… just the Chicago ones. I looked everywhere, but I couldn’t seem to find a sports book willing to give odds on whether Chicago Blackhawk star and US Olympic Hockey Team member Patrick Kane would punch out a Vancouver cabbie while at the Games. In fact, no Kane-Olympics-Taxi bet is out there at all from what I can tell. So I’m sorry folks, your Vancouver vacation will be without that golden Kane prop bet…so sad.
Canadians Have All The Luck...
While it is true that, according to Canadian tax regulations, the Canadian government does not collect taxes on provincial lottery or gaming winnings, this is not a benefit to you if you’re a visiting American. Anything you win in Canada is subject to American tax law if you are in fact an American citizen. Oh, and to make matters worse, when you’re paying taxes on that bad beat jackpot you hit while vacationing in the Great White North, Canadians winning big in Vegas most likely will never have to pay a dime of that money to American or Canadian taxes…lucky Canucks.
2 Comments
DrexxMac said:
I wonder what the line was on an athlete's death leading up to and during the Olympics... It's like I always say, you can't be a winner, if you're a luger! :-)
Chasse Rehwinkel said:
Ouch, too soon.
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