New Hampshire Takes Gambling Revenue, Win or Lose

New Hampshire's new gambling tax on poker, lottery, and race track winnings makes sure the government gets theirs coming and going.

Continuing a trend by lawmakers taking more and more of the money circulated by gambling, New Hampshire officials have levied a tax on gambling winnings. This means that poker players and track patrons gambling in the state face high taxation just for being involved, whether they win or lose.

Like most states that allow gambling, New Hampshire already taxes the gaming operators, who pay out of money risked by customers. Now the state will take ten percent of winnings, as well, on payoffs big enough to gather attention from the IRS.

Lottery winnings in the state over $600 will face withholding of the ten percent, as well as the IRS customary twenty-five percent. Race track plays paying over $5000 will be subject to9 the new tax, as well as poker winnings over $30,000.

Lawmaker predictions that gambling is a no-win game that simply sucks money from the populace become more and more self-fulfilling as the state prevents operators from making a profit, and now grabs a share of the rare jackpots that might otherwise offset long losing streaks, says OCA gaming analyst Sherman Bradley.

"Twin River Casino in Rhode Island has been driven into bankruptcy by government greed, and new ways to exploit gamblers are invented by states every day," says Bradley. "Governments voice concern that gaming cynically abuses the public, but the state is the major contributor to the truth of that statement.

"The New Hampshire law supposedly applies to residents who gamble out of state as well, making it a law like Hawaii's. Hawaii has no legal gambling, but they are eager to grab money from residents who travel to find freedom elsewhere."

New Hampshire has resisted expanding gambling to raise new revenues for the state's pork projects and good-ole-boy networking, says Bradley, and instead will just take more of what's already gambled.

"They don't want slots at the tracks, but they have no problem reducing the odds of coming out ahead for gamblers to infinitesimal amounts," Bradley fumed.