More than 11-million people entered March Madness NCAA brackets on ESPN’s website. I’m not sure if that many people go to church on Sundays anymore. I guess they are at home watching some game or something.
I got to thinking this week about the concept of betting on sports and throwing money into betting pools. I’ve heard that term, “pool,” since I was a kid. My step-dad used to bet on the NASCAR races in a work pool. I thought the idea was genius. How fun was it to bet with your friends on a sporting event? You have no idea who will win. It’s all up to chance.
Now that I am older, I’m not too apt to throw away money on bets. However, I did fill out a bracket and I did compete with my friends, in a friend pool.
And now that tax day is coming up, I had another novel idea. What if pool bets were actually tax deductible? Isn’t this a grand idea? Calculate all the money you lose in those office bets and then write it off as a deduction on your taxes.
Then I thought, “Could you imagine the outrage?” Since this is no different than gambling, how would the office bets be any different than deducting the losses from the latest Mega Millions ticket?
Obviously, these deductions would include any losses suffered from the over-under bets, the World Series, the Super Bowl, and of course Dancing with the Stars.