Correct. You'd pay quarterly taxes on whatever you withdrew from the site. Even at a 25-30% clip for taxes, that doesn't make you "lose money" or make you have to "win out a pretty high margin to be profitable". That's the part that confused me because it doesn't make any sense.
i think i just worded what i meant terribly. all i meant is that you would have to give back money you won, thus making you less money. BUT, that would probably equal the added amount of added fish money from people who would come back because its "legal".