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Minimum needed to live the dream

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Posts: 496

ShadowWarrior

Captain

Joined: Nov, 2002

Posts: 7112

Posted: Aug. 22, 2012 - 12:22 PM ET #101

Do you get to deduct your losses?

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thorpe

All-Star

Joined: Sep, 2002

Posts: 12927

Posted: Aug. 22, 2012 - 10:11 PM ET #102

Quote Originally Posted by ShadowWarrior:

Do you get to deduct your losses?

This is Covers. No one ever loses here.

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drcitizen

Prospect

Joined: Jun, 2012

Posts: 66

Posted: Aug. 23, 2012 - 11:14 AM ET #103

Get a time share.

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666LES

Veteran

Joined: Dec, 2006

Posts: 4298

Posted: Aug. 23, 2012 - 2:42 PM ET #104

you don't deduct shit because IRS doesn't know shit,if you bet 10k you fill out a banking act statement that only states that somebody passed 10k and they don't state wiether you won or lost. These get put in a drawer until the book has a shitload and they box'm and mail'm.

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MichaelRocks

Prospect

Joined: Jul, 2012

Posts: 373

Posted: Aug. 27, 2012 - 7:20 AM ET #105

link to LVjunkie thread?

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ShadowWarrior

Captain

Joined: Nov, 2002

Posts: 7112

Posted: Aug. 27, 2012 - 11:52 AM ET #106

This minimum grows larger day by day as food prices, gas prices, medical costs, housing, utilities, etc. rise and rise.

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fishsticks

Veteran

Joined: Sep, 2009

Posts: 3342

Posted: Aug. 27, 2012 - 1:05 PM ET #107

Quote Originally Posted by newyorkslim:

This dream is my reality. I am leaving on the 11th. I bought a condo for cash in Summerlin and a 4k car. Left my GF of 5 years as she thought the idea was crazy. Buffalo will always be here if I go bust.

Monthly nut appears to be about 1k. My plan is to stay away from the tables and just bet sports.

I am not wondering if I will do well. I know I will.

Bro, are you renting any rooms?

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sativasdaddy

Prospect

Joined: Apr, 2009

Posts: 44

Posted: Sep. 4, 2012 - 5:06 AM ET #108

Quote Originally Posted by ShadowWarrior:

Do you get to deduct your losses?

Yes u do.........i hit for $41,000 at bingo a few years ago, and i was worried about the IRS auditing me and saying I owe them for my winnings(i took the 41,000 as a direct deposit with no taxes withdrawn), so I asked the casino for a printout of all the money I spent at the casino for the year (plus i save all the losing sports and race book losing tickets i had) and when i filed my taxes i actually broke even(not counting my yearly income)

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ShadowWarrior

Captain

Joined: Nov, 2002

Posts: 7112

Posted: Sep. 4, 2012 - 11:47 AM ET #109

That is nice! Finally a break from big brother. I got a 35% tax credit for solar installation this year, this helps on my estimated taxes as usually I pay 750 a qtr., my accountant said I won't need to this year.

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tomseaver286

Veteran

Joined: Jan, 2010

Posts: 1456

Posted: Sep. 9, 2012 - 6:44 PM ET #110

I see a few tidbits of bad information on this thread. Please check out this article and this site.

GamblingandtheLaw.com

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mr_bollox

All-Star

Joined: Oct, 2009

Posts: 14212

Posted: Sep. 10, 2012 - 9:24 PM ET #111

good read if nothing else but we all know how this story ends

no posts from NYslim in a couple of weeks, still living the dream?

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nc1capper

MVP

Joined: Aug, 2007

Posts: 16348

Posted: Sep. 11, 2012 - 6:52 AM ET #112

Living the dream is a nightmare for most bettors, proceed with great caution

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Qncyk1

Veteran

Joined: Aug, 2011

Posts: 1239

Posted: Sep. 11, 2012 - 11:49 AM ET #113

one thing you must have is an online account(matchbook,pinnacle,5dimes) with reduced lines if you are going to do this on a daily basis.

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mbialowas

Veteran

Joined: Feb, 2009

Posts: 4681

Posted: Sep. 11, 2012 - 8:41 PM ET #114

Quote Originally Posted by Qncyk1:

one thing you must have is an online account(matchbook,pinnacle,5dimes) with reduced lines if you are going to do this on a daily basis.

I am in the state of Nevada, but also have online accounts.

Good to be here in person though, as you have to have your ear to the ground if you know what I mean

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Qncyk1

Veteran

Joined: Aug, 2011

Posts: 1239

Posted: Sep. 12, 2012 - 10:57 AM ET #115

i am in mexico where gambling is legal but the lines, like vegas, are horrible.

i dont even use the mexican sportsbooks anymore but rarely as casinos cannot compete with the discount online services.

depending on the sport there can be a 10-20 percent premium you pay.

you cant afford that if you are doing this full-time.

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mafioso

Veteran

Joined: Jul, 2010

Posts: 2664

Posted: Sep. 12, 2012 - 7:22 PM ET #116

Quote Originally Posted by mr_bollox:

good read if nothing else but we all know how this story ends

no posts from NYslim in a couple of weeks, still living the dream?

If he was placing 2200 dollar bets in Preseason, He has more than likely gone bust by now and the dream is now a nightmare.

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newyorkslim

Prospect

Joined: Oct, 2009

Posts: 235

Posted: Sep. 13, 2012 - 12:32 AM ET #117

Sorry to disappoint but I am here, alive and well....

Total = Up about 4k

Its been pretty crazy.

Doing great picking winners; giving back to much at the tables

Just bored, looking to meet/talk to people.....

Came out here to pick winners and have been doing great with it...

My nut is about $450 a month....

Liquid cash = $100k

If I want to bet 2k on a preseason game,....I probably will.......

Tomorrow on Bears, USF

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newyorkslim

Prospect

Joined: Oct, 2009

Posts: 235

Posted: Sep. 13, 2012 - 1:06 AM ET #118

and about the whole "preseason" thing....

A game is a game,...I handicap dynamics.. sometimes preseason

is easier to cap.

People act like their giving away money in the regular season....

Rookies....

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mafioso

Veteran

Joined: Jul, 2010

Posts: 2664

Posted: Sep. 13, 2012 - 2:39 AM ET #119

LOL, Gotcha
I knew if I made a statement like that we would get an update

Hope your not a poker player too

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newyorkslim

Prospect

Joined: Oct, 2009

Posts: 235

Posted: Sep. 13, 2012 - 2:51 AM ET #120

Nice one,...Yea I stumble in the poker room every now and again,...

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mafioso

Veteran

Joined: Jul, 2010

Posts: 2664

Posted: Sep. 13, 2012 - 3:21 AM ET #121

I arrive September 20th for 5 days, Ill add you as a friend and maybe we can hook up and shoot the breeze while betting on some college and NFL games.

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Qncyk1

Veteran

Joined: Aug, 2011

Posts: 1239

Posted: Sep. 13, 2012 - 11:20 AM ET #122

you have to open a 5dimes account.

i dont even want to tell you how much youve lost playing vegas lines. im with matchbook and pinnacle.

you cant do this on a dialy basis and bet vegas lines.

you just cant.

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HandyGpicks

Prospect

Joined: Sep, 2012

Posts: 6

Posted: Sep. 18, 2012 - 8:51 AM ET #123

If you are asking then you don't have enough.

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max-value

Prospect

Joined: Mar, 2009

Posts: 85

Posted: Oct. 2, 2012 - 10:18 PM ET #124

Vegas update?

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mafioso

Veteran

Joined: Jul, 2010

Posts: 2664

Posted: Oct. 2, 2012 - 10:59 PM ET #125

More than likely its all gone, I dont think we will hear from NY Slim again.

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Minimum needed to live the dream

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