MisterV I guess anyone who plays a lot in casinos can call himself a professional gambler. But not all professional gamblers make a decent living. Some professional gamblers sleep in their cars and wash up in the casino restrooms.
MisterV I guess anyone who plays a lot in casinos can call himself a professional gambler. But not all professional gamblers make a decent living. Some professional gamblers sleep in their cars and wash up in the casino restrooms.
some minimum wage earning security guards call themselves professionals and they too dont make alot of money. Being a professional has zero to do with money earned.
As a pharmacist, I can open the doors to a brand new pharmacy, and I wont be profitable for 3 years. I am still a professional practicing with a license under the supervision of the board of pharmacy acting under codes of conduct and legal and professional standards of practice.
A child molesting crack addict can deem himself a professional gambler and there is no one that can remove that self imposed credential. He can even get business cards saying so....and he will always be in the fraternity of professional gambler.....even if he sticks a knife in your stomach while you are both playing craps. He is still a professional gambler in good standing. Wow....what a profession.......a child molesting crack addict that sticks a knife into alan while playing craps is still considered to be welcomed in his chosen profession. In real professions, a known child molesting crack addict has the credential removed by an over-seeing authority.
Billy Walters,,,,as he sits in jail is still a professional gambler. Not a gambler by trade. Nope...he is a professional. lol
Larry would you please name someone who is a child molesting crack addict professional gambler? Give us an example.
"More importantly, mickey thought 8-4 was two games over .500. Argued about it. C'mon, man. Nothing can top that for math expertise. If GWAE ever has you on again, you can be sure I'll be calling in with that gem.'Nuff said." REDIETZ
Many professionals go rogue, break the law, have melt downs and act "unprofessionally."
That's not the point.
The point is a man might be warranted in calling himself a professional gambler if he is able to support himself and his family, year in and year out, earning enough money to live a normal life, pay taxes, buy a house, send his kids to college, set up a good IRA, have health insurance, travel and eat and live well.
That kind of disciplined guy would earn the title; not many around, and he'd be the exception to the rule.
Last edited by MisterV; 12-22-2017 at 11:27 PM.
What, Me Worry?
You seem to be adding qualifications to make someone a successfull professional gambler. I don't think those qualifications are needed.
Even if you eke out a living just gambling I think you can call yourself a professional gambler.
Now if you want to be a successful professional gambler then you'll have to show me your tax returns, your health insurance, your vacation and retirement savings and so forth.
A full time gambler who doesn't make enough to support himself in comfort is a stupid idiot in my opinion.
He is choosing an alternative path; rather than get a real job he chooses to gamble.
I suppose if he plays with an advantage and remains undetected for many years, quietly raping the casinos, he'd be a pro.
Compare his average income over the years to the median income for someone of his age for a fair yardstick to gauge success.
What, Me Worry?
MisterV I agree there are idiot professional gamblers. Some claim to be advantage players and would earn more money and would have health insurance and other benefits doing something else.
The same can be said of a drywall contractor, real estate developer, car wash owner, restaurant owner, etc. Who pays for their insurance and benefits? They do.
But it does come down to choice of careers. I chose my path and will never change it.
What I don't like is someone continually associating crack addicts and child molesters to my profession. It's not reasonable or fair. You can find those kind of people in all walks of life. But then myself, redietz and kj were longtime targets of Larry's at Gambling Forums before we now are here. Don't look for him to get any better. He has a very long track record of not changing.
Last edited by mickeycrimm; 12-23-2017 at 09:52 AM.
"More importantly, mickey thought 8-4 was two games over .500. Argued about it. C'mon, man. Nothing can top that for math expertise. If GWAE ever has you on again, you can be sure I'll be calling in with that gem.'Nuff said." REDIETZ
I wonder how the IRS treats the issue?
As a white collar professional filing as a sole proprietor, I am allowed to deduct my business expenses from gross income on schedule "C."
I would assume that the same would hold true with a someone who lists their profession as "gambler," reports all wins, deducts all losses, and also claims and deducts business expenses.
Presumably if someone did that year after year and the IRS allowed it, that would indicate that the IRS accepts the fact that the filer is deemed legit.
We as little people have our own definition of "professional gambler," but the opinion of the IRS is probably the only one that really matters.
Last edited by MisterV; 12-23-2017 at 11:14 AM.
What, Me Worry?
MisterV I think you are correct that the IRS decides who is a professional gambler. If you don't have a profit in a certain number of years the IRS considers gambling a hobby.
So I hope all our gambling professionals, including our esteemed APs are filing their taxes.
But it appears you missed the claims of Rob Singer who said he had enough business deductions including dinners and parties to offset his million dollars of gambling profits.
there are idiot full time babysiters, idiot full time cake decorators, idiot full time flyer distributers.......so what. Some are successful financially and some arent. Just like full and part time idiot gamblers.....some are financially successful and some arent. Every trade, and job description has their idiots and their financially successful. idiots and non idiots. However they can be idiots, non idiots, child molestors, crack addicts....and they can still call themselves in their minds...."professional" baby sitters, house sitters, cake decorators , APs,...and no oversight authority can dispute that. Its a self proclaimed title that is meaningless. The perm "professional" is meaningless in this case.
the term professional in the IRS context is purely a moniker bestowed for book keeping purposes of the govt.
the govt by using that term doesnt for a minute conclude that these people have some sort of standard by which they act, no oversight authority viewing them like aLL OTHER PROFESSIONS......The govt doesnt conclude that there is a basic entry standard that must be met so as to earn the title "professional".
Purely a title they use tomake people feel good as they demand payment
people can call themselves professions, investment consultants, executive investment managers, Ultimate executive AP, ..its all self proclaimed nonsense...and it makes me smile....and for me thats what counts. THose folks give me something to laugh about.
Last edited by LarryS; 12-24-2017 at 05:43 PM.
"More importantly, mickey thought 8-4 was two games over .500. Argued about it. C'mon, man. Nothing can top that for math expertise. If GWAE ever has you on again, you can be sure I'll be calling in with that gem.'Nuff said." REDIETZ
you do such a good job skipping over my posts, that you seemed to have accidentally read and quoted one and then commented on it. Nice comment but for some reason how could anyone believe you.
"More importantly, mickey thought 8-4 was two games over .500. Argued about it. C'mon, man. Nothing can top that for math expertise. If GWAE ever has you on again, you can be sure I'll be calling in with that gem.'Nuff said." REDIETZ
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