They say the only things certain in life are death and taxes.
But tax returns — well, those are a lot less certain. One year you could be swimming in cash, the next, you're pondering selling your blood to pay off Uncle Sam.
One way to make up the difference — without drawing blood — is betting on taxes.
YouWager.com, a betting site that offers odds on everything from presidential elections to the unemployment rate, airplane policies, state marijuana legalization and iPad sales , is now taking bets on tax returns.
“People like betting on whatever we put lines up for. If we make a line for it — someone will bet on it,” said Cory Scott, manager of YouWager.com. “With something like tax returns, it might generate more interest because it’s something that affects almost everyone nationwide.”
So far, the bets are leaning toward the average refund coming in higher than last year's average of $2,683 and that, of the "least-friendly tax states," New Yorkers will see the lowest average refunds. Connecticut and NJ were also contenders, along with Maryland and Hawaii.
It may seem odd to bet on something like a tax return but Scott says he thinks thinking it's odd is odd.
“I find it amusing that betting on the economy, tax returns or company profits (losses) seems so alien to the average American when the stock market is such an important part of American culture,” Scott said. “In the end, it’s all the same.”
So, does that mean one day we'll be able to invest our 401(k)s on betting sites like YouWager?
I can see the call to my broker now:
OK, so here's the allocation I'd like:
- 20% Stocks
- 20% Bonds
- 10% iPad Sales
- 50% My taxes will go higher!
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