You make some great points, Bond. Your local bookmaker will give you almost a week to pay, if you say, bet a Wednesday game. You might settle on the following Monday. The State; place your money down when you wager. If you are a good customer, you hometown bookie will give you additional time. The State; no way. Your Bookmaker will prolly by you a drink or two, when collecting. The State; yea right.
One thing a smart bookmaker will never do is kill the cow while it is still giving milk. The state will kill you with it's tax and fees.
One last thing, your Bookmaker will give you a Christmas card and maybe a little gift at the end of the year. The State, they will give you a W-2G.
Help support your local Bookmaker.