OT: Gambling question
- Thread starter RUPsyched
- Start date
They still exist . Most of us old timers still use them as we have for years. They’ve also adapted and you can bet through a website with some of them .
But the “kids” (younger generation) seem to be just doing the legit books . I see online gambling continuing to be and even be a huge huge problem from an addiction standpoint. It’s just too easy and it’s all on a credit or debit card. If you want to get into the business of helping people, start up an organization that is specifically for kids that online gamble.
But the “kids” (younger generation) seem to be just doing the legit books . I see online gambling continuing to be and even be a huge huge problem from an addiction standpoint. It’s just too easy and it’s all on a credit or debit card. If you want to get into the business of helping people, start up an organization that is specifically for kids that online gamble.
In the old days the bookies would break your legs , now they break your phone !
Way to easy with phone app although with bookie your getting credit- you don’t have to put your $ up front which is a problem bc your not taking that $ out of your pocket. I go to fandual and obviously have to pay up front. Big difference.
Friend only uses bookies says there’s no paper trail.
Friend only uses bookies says there’s no paper trail.
Mine uses a free betting site for tracking, settle up offline.
I use a bookie for straight bets and the web for more props and in game betting ... also for long term bets (for instance Galant was +800 to win Adams trophy a few weeks ago ) I wouldn't even think to call in on that
Right . But I guess for the heavy hitters there is tax implications. Plus , you can get loans and/or make a bet from a bookie without reaching into your own pocket first.
The pay sites you need to pay before you make a bet (debit card, credit card etc)
Gambling winnings are never tax free. Whether you choose to report them is another matter.
Yeah, I remember the year I had to go down to the IRS office because I had neglected to report my winning of a horse with a clock in its stomach and also my winnings from the three-legged race at the Raccoons' annual picnic.
If they limited it to debit cards it would reduce the problems.
What iduot would report winnings with an illegal bookie
The taxpayer fills in a number on a line on a page on the tax return. The IRS neither knows nor cares where that number came from.
I fully acknowledge that most people who earn income illegally do not report it. That doesn't mean you don't have to. As Al Capone could attest.
If the winnings from illegal gambling is taxable, then by default it could be argued that losses would be deductible.
Good luck getting back up docks for an audit though.😂
Online casinos generate year end summary reports showing your total wins and losses and net win/loss
You can deduct losses as an offset to your winnings. If you are in the hole, that is not deductible.
How hard is it to get a bunch of losing tickets ? Just hit your local lotto guy or race track
My wife's cousins friend hit a huge parlay think 6 or 7 team. Had the 1st 5 weeks ago just needed Uconn to win the natty. Won a lot of $$
found out in the 2nd rd of NCAA's. 5 zeros on that win
found out in the 2nd rd of NCAA's. 5 zeros on that win
Interesting note about tax law. Sportsbooks will only send you a form if you have any singlel transaction over $600. So basically, if you win a million dollars in $500 increments, you won't even get a form from the book. My tax guy said if they don't send anything, there's nothing to report. I'm on board with that.
speaking of gambling and looking at Ohtani's translator. They say he has gambled 187 mil and winnings of 140 mil- so a negative 40 mil...people ask how any illegal bookie would allow it to continue...imaging the vig his guy was pulling in with him. Thank is just some crazy shit.
I had an old boss that had his booking in the late 90's early 2000's...he was betting anywhere from 50k-100k a week. sometime win and lot of times lose. And funny thing was- he always said losing was more exciting and what kept him gambling...
Anyway- at one point, he wanted to stop the dufflebags of money back and forth with his guy- The booking was also a vendor of our company. And the accountant for the business, had the "brilliant" idea for the boss to pay the losses as AP and wins as AR in the books. ****ing idiots.
Of course- the County had the booking on their radar and tapped everything- including phone and bank.
Next thing we know- get a call from one of the ladies at work- "don't come into the office today"
Ends up- they did a full sweep of everyone- the bookie and his business, our company and if anyone remembers around 2005/6 when The Satan Dolls(badabing) owners and bouncers were caught up in a gambling ring) - this was it.
The charged my boss with money laundering and promoting gambling- because he would take bets from other sales people and add it to his bets.
Our business outside of his gambling was 100% legit and I had helped build it from $6 mil in 98 to over $140 mil when this happened. They froze everything except our AP, payroll and health.
Our competitors all ran to our big corporate accounts with the front page of the newspaper with our owner's face on it- we lost almost all business over night.
The kick in the ass to our owner- they had also seized $5 mil from his personal account. And not one other defendant had any capital that they could seize. Since the state wanted to keep that $5 mil- even though he was the least guilty, they went after him hardest.
It is why I have always hated sports betting and so glad I was not involved with it at the time with him.
I had an old boss that had his booking in the late 90's early 2000's...he was betting anywhere from 50k-100k a week. sometime win and lot of times lose. And funny thing was- he always said losing was more exciting and what kept him gambling...
Anyway- at one point, he wanted to stop the dufflebags of money back and forth with his guy- The booking was also a vendor of our company. And the accountant for the business, had the "brilliant" idea for the boss to pay the losses as AP and wins as AR in the books. ****ing idiots.
Of course- the County had the booking on their radar and tapped everything- including phone and bank.
Next thing we know- get a call from one of the ladies at work- "don't come into the office today"
Ends up- they did a full sweep of everyone- the bookie and his business, our company and if anyone remembers around 2005/6 when The Satan Dolls(badabing) owners and bouncers were caught up in a gambling ring) - this was it.
The charged my boss with money laundering and promoting gambling- because he would take bets from other sales people and add it to his bets.
Our business outside of his gambling was 100% legit and I had helped build it from $6 mil in 98 to over $140 mil when this happened. They froze everything except our AP, payroll and health.
Our competitors all ran to our big corporate accounts with the front page of the newspaper with our owner's face on it- we lost almost all business over night.
The kick in the ass to our owner- they had also seized $5 mil from his personal account. And not one other defendant had any capital that they could seize. Since the state wanted to keep that $5 mil- even though he was the least guilty, they went after him hardest.
It is why I have always hated sports betting and so glad I was not involved with it at the time with him.
I am not being an ass at all, I promise. The answer is both. In fact, the answer is all of them, if you want to win. Line shopping is the best way to find favorable lines. I personally have accounts with approximately 15 books. Also, don't sign up until you've researched how to best use the sign up bonuses.
This is the way. Sign up for them all, get the sign up bonuses, you’ll find which you like best. They’re actually different state to state even
I would also highly recommend that you not bet on anything that you think of yourself. You will lose in the long run. There are people all over the internet who will do the math and tell you which bets are +EV. Resist the urge to make your own bets, stay disciplined, and win in the long run. It's honestly not that hard.
it really depends on what you bet. in baseball dimelines pretty much non-existent with legal books. if you like to bet ML dogs, download few of the apps and check lines nightly, you will be able to spot which books would suit you. (or which getting better price for with favs, totals, etc)
i'm on a test right now, betting 2 team parlays with Alt Team Total runs scored , only overs, only visitor teams , only favs or slight dogs where i am fading opposing starter, either Over 2.5 or Over 3.5. (need that 9th inning and try to avoid closer) I follow some guys who do nothing but break down starter pitchers , in GREAT detail. Pitcherlist dot com. listen to their daily podcasts,etc. they are not gambling guys, but that's even better.
and also parlaying two 1H Alt Unders (i'm just handicapping starters/vs lineups through lineup 1st two times only, and want nothing to do with bullpens. usually Under 6.5)
With both of above only BetMGM works, as their Alt lines in those categories are WAY more generous that say Fanduel or Ceasers. logging everything, doing pretty well but only been two weeks.
Also - there are better paid versions, but this free site keeps up with lines pretty well
MLB Odds & Lines: Baseball Spreads, Run Line & Totals 2024
Compare MLB odds & betting lines in real time. Updated Baseball betting odds, spreads and predictions including MLB moneylines, point spreads, totals and futures.
lol, now there is LOT of small print with bonuses , referral bonuses, and free plays. back in 2019 or whenever that was, they were giving out cash bonuses, not free plays or risk free bets, it was legit free money back then. i took it from every one of them.
MJ never took such advice 😂, even had to pretend to want to play baseball to cover up his gambling suspension
Latest posts
-
***WAR ROOM: Latest Recruit Scoop and Team News on Rutgers Athletics***- Latest: RU-Choppin-Ohio
-
Football Things Rutgers submitted to EA Sports for the NCAA Video Game?
- Latest: Scarlet Shack
-
-
-
