Professional Sportsbetting

[accountinquestion]

LOL. Account, I think it's finally seeping into your brain that I'm not scared of anything.

And why are you not putting any effort into going on Druff's show? You talk about all these guys that no one around here knows who they are and it is not about sports betting. You want people to fly to LV to see you being interviewed and ask your questions while there. It is more bluffs from you. When backed into a corner you do this shit. I put forth a friendly 1k wager because 1k ain't much and it'd be fun. You refuse but in order to save face you propose something you know I won't do. You know I'm not such a brokeass that 1k is that much to me. You also know you couldn't afford the 1k. (you were scared to put it up).


Yet when presented a legitimate podcast from a neutral party to talk about yourself and your accomplishments you completely ignore it outside of saying "I'm not scared". ooooookay buddy. lol.

[accountinquestion]

Evidently you have not followed my trip report under Sports Betting. I try to not post in a "Professional Sports Betting" thread featuring no professional sports bettors, but that's just me.

Do you really think I would be hesitant to go on a radio show? You don't even post under your own name. It's pretty funny -- the anonymous dude saying a real person might not want to go on a radio show. You can't even be you on a forum.

Red, you've learned absolutely nothing after watching kew make a GINORMOUS fool of himself in his never-ending, humiliating quest to convince people that he's something he most definitely is not.

If you were even half the sports betting or handicapping guy you for some reason want the world to know you as, you would not be constantly posting this stuff about yourself ON THIS PUNY & MEANINGLESS, NO-IMPACT FORUM....just as you wouldn't be so desperate to reel in "investors" to help finance your flailing whateveryoucallit.

Please wise up.

Robert, I thought you would chime in with a good word regarding Vic and Anthony's. You're the forum steakhouse connoisseur. Any particular recommendations from the menu? We ate too much -- we each had a steakhouse salad prior to the steaks, which was overkill even though we split just two sides. The salads were gigantic.

Not only do you namedrop vague acquaintances you also name drop the names of nice establishments you ate at.

Wow Vic and Anthony's is a chain. The name sounded familiar. I may have ate there with a food comp but I didn't realize it was a thing or even worth remembering. lololol

[mickeycrimm]

Finally, being introduced as a "known, successful sports bettor" is really a nothing cookie. The words "known" and "successful" are no substitutes for actual ATS records or accomplishments. "Known" is a relative term; anybody with a YouTube channel qualifies as "known." Not exactly a great vetting process. "Successful" is one of those mealy-mouth words that can mean whatever one wants it to mean.

LOL! This is reminiscent of the start of this thread where you referred to Spanky as a "cute anonymous nickname." You had to be told he wasn't anonymous. That he is one of the most famous sports bettors in the world, banned from all but 5 books in the world and has to use runners to get his bets in. How did someone like you who "knows everything is sports betting" not know who he was? And all the other professionals at the start of this thread like Capt. Jack Andrews, Bill Krackomberger, Rufus Peabody that you never heard of? WTF?

If you want references on Chinamaniac then start with Druff who knows him well.

[redietz]

Finally, being introduced as a "known, successful sports bettor" is really a nothing cookie. The words "known" and "successful" are no substitutes for actual ATS records or accomplishments. "Known" is a relative term; anybody with a YouTube channel qualifies as "known." Not exactly a great vetting process. "Successful" is one of those mealy-mouth words that can mean whatever one wants it to mean.

LOL! This is reminiscent of the start of this thread where you referred to Spanky as a "cute anonymous nickname." You had to be told he wasn't anonymous. That he is one of the most famous sports bettors in the world, banned from all but 5 books in the world and has to use runners to get his bets in. How did someone like you who "knows everything is sports betting" not know who he was?

If you want references on Chinamaniac then start with Druff who knows him well.

Let me guess, you learned about these guys from a YouTube channel.

And again, I never claimed to know what you put in quotes. You really should stop putting false quotes out there. It's illegal.

I'm glad Spanky is banned from all but five sports books, and that you know this. I guess those five didn't get the message. Their tough luck, I guess.

[mickeycrimm]

Finally, being introduced as a "known, successful sports bettor" is really a nothing cookie. The words "known" and "successful" are no substitutes for actual ATS records or accomplishments. "Known" is a relative term; anybody with a YouTube channel qualifies as "known." Not exactly a great vetting process. "Successful" is one of those mealy-mouth words that can mean whatever one wants it to mean.

LOL! This is reminiscent of the start of this thread where you referred to Spanky as a "cute anonymous nickname." You had to be told he wasn't anonymous. That he is one of the most famous sports bettors in the world, banned from all but 5 books in the world and has to use runners to get his bets in. How did someone like you who "knows everything is sports betting" not know who he was?

If you want references on Chinamaniac then start with Druff who knows him well.

Let me guess, you learned about these guys from a YouTube channel.

And again, I never claimed to know what you put in quotes. You really should stop putting false quotes out there. It's illegal.

I'm glad Spanky is banned from all but five sports books, and that you know this. I guess those five didn't get the message. Their tough luck, I guess.

Why should I believe you instead of Spanky? If he's a con then you're damn sure a con.

And why have you never heard of one of the most famous sports bettors in the world. What's up with that, wise ass?

[mickeycrimm]

@chinamaniac

-Operators offshore have made some adjustments to protect themselves
-Brick and Mortar establishments have made significant efforts to stop the blood shed that they were taking

I guess it depends on your measuring stick, but I don't detect operator bloodshed. The US operators (outside Nevada) have consistently generated big profit margins which are now bigger than ever. But technically in some cases the operators may not be "profitable" because of debt loads.

Good read from LSR:

https://www.legalsportsreport.com/11...ng-hold-trend/

I need to look into their podcast.

First graph in the article shows nationwide hold % rising from 6 toward 9% in the five-year span of legalized sports. As shown in the second graph, this is largely attributable to FanDuel which individually is now >11%. How do they get 11% when the standard -110 edge is 4.5? Likely suspects are live, in-game betting; and parlays. Margins on same-game parlays "anecdotally approach 20%."

Nevada is still down in the 5s (but with big margins on the dwindling parlay card action). Latest 12-month numbers:



NV mobile sports is only holding 4%. Another LSR article indicates 66% of NV's volume now originates online, although I'm not sure how that squares with those numbers. Nationwide, volume is overwhelmingly online. New Jersey now exceeds 96% online. Eyeballing the NJ data (on another site), hold % appears roughly the same online as retail (b&m).

Incidentally, below are the NV #s from 20 years ago when the only online options were offshore:



Those hold %s look roughly the same as today. Horse book win was in the 80s compared to only 30 million this year. Statistically it's not true that we're more obsessed with Race today.

Very good. Someone has some brains. The interesting immediate question for me is whether the record-setting 2023 ATS numbers for leaders in various NFL contests will translate into depressed NFL take when all is said and done for the season, or whether there's no correlation whatsoever. Any thoughts, Dom?

This all ties into my disdain for the "parlay calculators" WOV kept mentioning (for years). Hell, the offshores now PROVIDE parlay calculators so people can work out their own demise. Having said that, there are currently some ways to leverage certain kinds of offshore "parlays-that-aren't-really-parlays" these days, but I certainly won't provide details on those. Seed would, after all, get mightily upset.

Keep truckin', Dom. It may be pearls before swine, but it is refreshing to see someone asking the right questions with the right data.

Hold on, ditz. YOU said many times before that empirical data is no good. WTF?

[mickeycrimm]

Evidently you have not followed my trip report under Sports Betting. I try to not post in a "Professional Sports Betting" thread featuring no professional sports bettors, but that's just me.

Do you really think I would be hesitant to go on a radio show? You don't even post under your own name. It's pretty funny -- the anonymous dude saying a real person might not want to go on a radio show. You can't even be you on a forum.

Lots of professional sports bettors have been featured in this thread. What is bewildering is how YOU never heard of any of them.

[mickeycrimm]

Evidently you have not followed my trip report under Sports Betting. I try to not post in a "Professional Sports Betting" thread featuring no professional sports bettors, but that's just me.

Do you really think I would be hesitant to go on a radio show? You don't even post under your own name. It's pretty funny -- the anonymous dude saying a real person might not want to go on a radio show. You can't even be you on a forum.

So commit to going on pokerfraudalert radio. Put it in writing right here. ASAP. We need to get this ball moving.

[mickeycrimm]

Technically, I filed as a professional gambler two or three years when I was in my 30's. The majority of the rest of my IRS filings have been as proprietor or partner in a business.

This is telling. Per IRS rules it means you weren't making a living gambling. At least not gambling with your own money.

[mickeycrimm]

And again, I never claimed to know what you put in quotes. You really should stop putting false quotes out there. It's illegal.

This is what you wrote in post # 5 of this thread:

"I'll also be more than happy to explain why handicappers with documented decades-long records and reputations among managers of sports books are more credible than CUTE ANONYMOUS NICKNAMES."
_____________________________________________

Redietz made this statement right after I posted a video of Spanky being interviewed. Spanky was the first professional mentioned in this thread. So you were clearly writing about him.

The last 3 words in your sentence is "cute anonymous nicknames." My quote of you was "cute anonymous nickname."

Redietz, do you still say I misquoted you?

[redietz]

And again, I never claimed to know what you put in quotes. You really should stop putting false quotes out there. It's illegal.

This is what you wrote in post # 5 of this thread:

"I'll also be more than happy to explain why handicappers with documented decades-long records and reputations among managers of sports books are more credible than CUTE ANONYMOUS NICKNAMES."
_____________________________________________

Redietz made this statement right after I posted a video of Spanky being interviewed. Spanky was the first professional mentioned in this thread. So you were clearly writing about him.

The last 3 words in your sentence is "cute anonymous nicknames." My quote of you was "cute anonymous nickname."

Redietz, do you still say I misquoted you?

Well, let's see. Mickey put comments allegedly by me in quotes twice. The first one I wrote. The second one I did not. I wonder which one I have a beef with?

LOL. I give up. The lifestyle has had its effects, I guess.

[redietz]

In case anyone is confused by mickey, the comment in quotes that he attributed to me was, "knows everything is [sic] sports betting."

I do not make comments like that. I don't even know hockey's rules (sorry, monet).

As to the other stuff, "Spanky" IS a cute nickname. Very catchy. I imagine the five books who won't allow him to bet have a thing about corporal punishment. Bummer.

[mickeycrimm]

And again, I never claimed to know what you put in quotes. You really should stop putting false quotes out there. It's illegal.

This is what you wrote in post # 5 of this thread:

"I'll also be more than happy to explain why handicappers with documented decades-long records and reputations among managers of sports books are more credible than CUTE ANONYMOUS NICKNAMES."
_____________________________________________

Redietz made this statement right after I posted a video of Spanky being interviewed. Spanky was the first professional mentioned in this thread. So you were clearly writing about him.

The last 3 words in your sentence is "cute anonymous nicknames." My quote of you was "cute anonymous nickname."

Redietz, do you still say I misquoted you?

Well, let's see. Mickey put comments allegedly by me in quotes twice. The first one I wrote. The second one I did not. I wonder which one I have a beef with?

LOL. I give up. The lifestyle has had its effects, I guess.

Your always deflecting is a glaringly apparent shortcoming you have. Little man, just admit you got caught lying. I had the quote right.

[mickeycrimm]

In case anyone is confused by mickey, the comment in quotes that he attributed to me was, "knows everything is [sic] sports betting."

I do not make comments like that. I don't even know hockey's rules (sorry, monet).

As to the other stuff, "Spanky" IS a cute nickname. Very catchy. I imagine the five books who won't allow him to bet have a thing about corporal punishment. Bummer.

I wasn't quoting you in that quote and you know that. It's a quote where nothing is being quoted. It's a writer's technique used to emphasize something. As a journalist you know that so you are being your typical self, intellectually dishonest.

[mickeycrimm]

In case anyone is confused by mickey, the comment in quotes that he attributed to me was, "knows everything is [sic] sports betting."

I do not make comments like that. I don't even know hockey's rules (sorry, monet).

As to the other stuff, "Spanky" IS a cute nickname. Very catchy. I imagine the five books who won't allow him to bet have a thing about corporal punishment. Bummer.

Why did you leave out the word "anonymous". Did you finally figure out that Spanky wasn't so anonymous? That he's actually world famous.

Not knowing who any of the famous sports bettors who have been featured in this thread is telling. You're ignorant, ditz.

[Treeshade]

Technically, I filed as a professional gambler two or three years when I was in my 30's. The majority of the rest of my IRS filings have been as proprietor or partner in a business.

This is telling. Per IRS rules it means you weren't making a living gambling. At least not gambling with your own money.

You don’t have to declare as a professional gambler regardless of how much you win if you have other sources of income. It’s actually best to take your gambling winnings, and invest them into income producing assets that have tax advantages. A good accountant will save you tons. I was taught this year one from a old school AP even tho he may not have followed his own advice. Some may disagree but it’s probably because they don’t know how to go about it.

[Rob.Singer]

Technically, I filed as a professional gambler two or three years when I was in my 30's. The majority of the rest of my IRS filings have been as proprietor or partner in a business.

This is telling. Per IRS rules it means you weren't making a living gambling. At least not gambling with your own money.

You don’t have to declare as a professional gambler regardless of how much you win if you have other sources of income. It’s actually best to take your gambling winnings, and invest them into income producing assets that have tax advantages. A good accountant will save you tons. I was taught this year one from a old school AP even tho he may not have followed his own advice. Some may disagree but it’s probably because they don’t know how to go about it.

As with everything for gamblers involving money efficiency, I've experienced this a bit differently. For 10 years I filed as a professional gambler who had other sources of income. The gambling required a lot of traveling, which translated into lots of expenses. I maintained a full-time rental or leased car during that time, and all my expenses during those years were direct write-off credits to income. This made a huge difference in what I paid in taxes each year. I never explored the possible advantages you mentioned, however, because I was taking guidance from my son-in-law, who is an IRS employee. His suggestions made the yearly filings tolerable.

[mickeycrimm]

This is telling. Per IRS rules it means you weren't making a living gambling. At least not gambling with your own money.

You don’t have to declare as a professional gambler regardless of how much you win if you have other sources of income. It’s actually best to take your gambling winnings, and invest them into income producing assets that have tax advantages. A good accountant will save you tons. I was taught this year one from a old school AP even tho he may not have followed his own advice. Some may disagree but it’s probably because they don’t know how to go about it.

As with everything for gamblers involving money efficiency, I've experienced this a bit differently. For 10 years I filed as a professional gambler who had other sources of income. The gambling required a lot of traveling, which translated into lots of expenses. I maintained a full-time rental or leased car during that time, and all my expenses during those years were direct write-off credits to income. This made a huge difference in what I paid in taxes each year. I never explored the possible advantages you mentioned, however, because I was taking guidance from my son-in-law, who is an IRS employee. His suggestions made the yearly filings tolerable.

"100 days a year in Las Vegas" as redietz claimed would be quite the expense to not write off. I suspect redietz was running a tout service so could write it off anyway. Integritysports was a tout service. Don't let redietz claim that he got paid only if his clients won fool you. Steve Stevens got paid only when his clients won.

[jpfromla]

LOL! This is reminiscent of the start of this thread where you referred to Spanky as a "cute anonymous nickname." You had to be told he wasn't anonymous. That he is one of the most famous sports bettors in the world, banned from all but 5 books in the world and has to use runners to get his bets in. How did someone like you who "knows everything is sports betting" not know who he was?

If you want references on Chinamaniac then start with Druff who knows him well.

Let me guess, you learned about these guys from a YouTube channel.

And again, I never claimed to know what you put in quotes. You really should stop putting false quotes out there. It's illegal.

I'm glad Spanky is banned from all but five sports books, and that you know this. I guess those five didn't get the message. Their tough luck, I guess.

Why should I believe you instead of Spanky? If he's a con then you're damn sure a con.

And why have you never heard of one of the most famous sports bettors in the world. What's up with that, wise ass?

Mickey,
You know that the center of the Professional Sports Bettor world is Johnson City!

[MaxPen]

This is telling. Per IRS rules it means you weren't making a living gambling. At least not gambling with your own money.

You don’t have to declare as a professional gambler regardless of how much you win if you have other sources of income. It’s actually best to take your gambling winnings, and invest them into income producing assets that have tax advantages. A good accountant will save you tons. I was taught this year one from a old school AP even tho he may not have followed his own advice. Some may disagree but it’s probably because they don’t know how to go about it.

As with everything for gamblers involving money efficiency, I've experienced this a bit differently. For 10 years I filed as a professional gambler who had other sources of income. The gambling required a lot of traveling, which translated into lots of expenses. I maintained a full-time rental or leased car during that time, and all my expenses during those years were direct write-off credits to income. This made a huge difference in what I paid in taxes each year. I never explored the possible advantages you mentioned, however, because I was taking guidance from my son-in-law, who is an IRS employee. His suggestions made the yearly filings tolerable.

The few people that I know in similar situations have all been ruled not professional gamblers by the IRS. It is best for a person to not deduct any expenses and just adjust win/loss records accordingly.

Also, filing as a professional gambler comes with a host of problems. The additional 15% self employment tax being the major one.