Professional Sportsbetting

[redietz]

No, the center of the professional sports betting universe is a forum where almost nobody has filed as a professional gambler. LOL.

I spent 90-100 days a year for roughly 25 years in Las Vegas during football season. I apologize for being a specialist who actually wins. I should probably figure out hockey's rules so I could be a Leonardo Da AP.

[AxelWolf]

No, the center of the professional sports betting universe is a forum where almost nobody has filed as a professional gambler. LOL.

I spent 90-100 days a year for roughly 25 years in Las Vegas during football season. I apologize for being a specialist who actually wins. I should probably figure out hockey's rules so I could be a Leonardo Da AP.

As for being a professional sport bettor back in the day, I assume Las Vegas was the place to be. And since you spend so much time here anyways just out of curiosity why wouldn't you just have a place here or live here permanently? Even though you're a specialist there has to be other obvious in the face good opportunities available on other sports frequently enough to get value out of being here full-time. I wasn't a professional sports bettor and just by chance I would see good situations. I can only imagine if somebody was focused on that type of thing what they could have found.

[accountinquestion]

No, the center of the professional sports betting universe is a forum where almost nobody has filed as a professional gambler. LOL.

I spent 90-100 days a year for roughly 25 years in Las Vegas during football season. I apologize for being a specialist who actually wins. I should probably figure out hockey's rules so I could be a Leonardo Da AP.

No reason to apologize since no one believes you.

[redietz]

No, the center of the professional sports betting universe is a forum where almost nobody has filed as a professional gambler. LOL.

I spent 90-100 days a year for roughly 25 years in Las Vegas during football season. I apologize for being a specialist who actually wins. I should probably figure out hockey's rules so I could be a Leonardo Da AP.

As for being a professional sport bettor back in the day, I assume Las Vegas was the place to be. And since you spend so much time here anyways just out of curiosity why wouldn't you just have a place here or live here permanently? Even though you're a specialist there has to be other obvious in the face good opportunities available on other sports frequently enough to get value out of being here full-time. I wasn't a professional sports bettor and just by chance I would see good situations. I can only imagine if somebody was focused on that type of thing what they could have found.

Not to echo Mr. Singer but living in LV full-time has its drawbacks. Las Vegas was not exactly the cultural center of the universe in the 80's and '90s.

My wife was employed by the Army as an archaeologist and demographer while she earned a double doctorate from Penn State. Not many "material resource director" positions in Las Vegas.

[AxelWolf]

No, the center of the professional sports betting universe is a forum where almost nobody has filed as a professional gambler. LOL.

I spent 90-100 days a year for roughly 25 years in Las Vegas during football season. I apologize for being a specialist who actually wins. I should probably figure out hockey's rules so I could be a Leonardo Da AP.

As for being a professional sport bettor back in the day, I assume Las Vegas was the place to be. And since you spend so much time here anyways just out of curiosity why wouldn't you just have a place here or live here permanently? Even though you're a specialist there has to be other obvious in the face good opportunities available on other sports frequently enough to get value out of being here full-time. I wasn't a professional sports bettor and just by chance I would see good situations. I can only imagine if somebody was focused on that type of thing what they could have found.

Not to echo Mr. Singer but living in LV full-time has its drawbacks. Las Vegas was not exactly the cultural center of the universe in the 80's and '90s.

My wife was employed by the Army as an archaeologist and demographer while she earned a double doctorate from Penn State. Not many "material resource director" positions in Las Vegas.

Ahh, I get it, so she made all the money while you jacked around with a gambling addiction pretending you had a legit skill. I know, it's hard to feel like man when your wife's making all the money, but you can always try to convince others.
It looks like you and Rob have something in common after all. Okay don't go getting your panties all up in a Bunch I'm just f****** with you two.

From what I understand you lived in the same area for a long time? Is that the epicenter of culture?

[Rob.Singer]

All this opining is entertaining and all, but the only personality who actually KNOWS anything about other people's gambling, sports betting, and lives--and whose opinions we await with baited breath for--is kew's....our own Mr. LV and Man-About-Town!

I need to hear more about how my wife supports me and how we are living off our daughter & son. That's the same as saying what wonderful relationships we all have within this family (of which that premise is 100% true of course, to the dismay of most, and not at all par for the course for the average gaming forum rat). And kew is just the she-man to pile it on!!

[redietz]

As for being a professional sport bettor back in the day, I assume Las Vegas was the place to be. And since you spend so much time here anyways just out of curiosity why wouldn't you just have a place here or live here permanently? Even though you're a specialist there has to be other obvious in the face good opportunities available on other sports frequently enough to get value out of being here full-time. I wasn't a professional sports bettor and just by chance I would see good situations. I can only imagine if somebody was focused on that type of thing what they could have found.

Not to echo Mr. Singer but living in LV full-time has its drawbacks. Las Vegas was not exactly the cultural center of the universe in the 80's and '90s.

My wife was employed by the Army as an archaeologist and demographer while she earned a double doctorate from Penn State. Not many "material resource director" positions in Las Vegas.

Ahh, I get it, so she made all the money while you jacked around with a gambling addiction pretending you had a legit skill. I know, it's hard to feel like man when your wife's making all the money, but you can always try to convince others.
It looks like you and Rob have something in common after all. Okay don't go getting your panties all up in a Bunch I'm just f****** with you two.

From what I understand you lived in the same area for a long time? Is that the epicenter of culture?

Yeah, that makes perfect sense. I had a severe gambling addiction that led to 85% of my annual betting volume being college football and leaving town to be home on Thanksgiving each year. Sounds about right.

Not sure this is the epicenter of culture. Confederate flags abound, and nobody cares if one fills a wiseass's ass with buckshot if they annoy you. You, of course, are always welcome to visit. Asheville, down the road, is considered one of the top 50 towns in which to live in many listings.

[mickeycrimm]

No, the center of the professional sports betting universe is a forum where almost nobody has filed as a professional gambler. LOL.

I spent 90-100 days a year for roughly 25 years in Las Vegas during football season. I apologize for being a specialist who actually wins. I should probably figure out hockey's rules so I could be a Leonardo Da AP.

You've never proven you are a winning sports bettor. Sure, you placed good in some contests. Sure, you have a track record there. But contests are not all there is to sports betting. You haven't shown any results for betting sides and totals straight up for the money which is where the real money was at.

You castigate others for not showing proof but you haven't shown jackshit for proof either.

[MisterV]

Not sure this is the epicenter of culture. Confederate flags abound, and nobody cares if one fills a wiseass's ass with buckshot if they annoy you. You, of course, are always welcome to visit. Asheville, down the road, is considered one of the top 50 towns in which to live in many listings.

Gotta love those hill billies.

I spent a night in Sparta, NC: drinkin', racin', watching the fightin'...The Good Old Boy who chauffered me around that mecca of mayhem bragged that for five bucks he could fill up the tank and buy a six pack (1971).

We tore the road up betwixt Sparta and Galax.

[1Hit1der]

Yeah, V, but, tell us that story again about how your brother hit the tree.

Anything but old, Red talking about the dead wife (who had nothing to do with gambling, or academics per se), or, Singer going on about whatever miserable life he has.

Long as it's not out of the 1800's. Ha.

[mickeycrimm]

In post #1259 of this thread redietz wrote:

"Lunch next week will feature some debunking of the Walters how-to chapters -- what he has right, what he has wrong. Why the chapters' context is FAULTY, which is why he probably included them. He knew, of course."

In post #1273 of this thread redietz wrote:

"I'm going to review the two how-to chapters with one of the guys who taught some probability. He made a boatload of notes and we only scratched the surface, so we'll do a deeper dive. The context of the chapters undermines their overall value....but there are a couple of actual helpful thoughts in there -- you just have to squint real hard to notice them."

In post #13 of the GAMBLER: SECRETS OF A LIFE AT RISK thread redietz wrote:

"And honestly, Walters does not present himself as a particularly wonderful handicapper in the book. He's very careful about that. In fact, even the blurbs to sell the book are careful, as in Michael Roxborough's "Is he the greatest handicapper of all time? Maybe. Is he the greatest bettor of all time? Unquestionably." There are few references in the book to Walters' himself actually handicapping anything."

In post #25 of the JOHNSON CITY MEN'S BOOK CLUB thread redietz wrote:

"Already got a couple of nice thank you emails from attendees, which surprised me. There were some really good observations regarding Walters' OCD tendencies and what wasn't stated in the book."

Bump. The above assertions by redietz should be the main scope of any interview on Pokerfraudalert radio.

1) What in the Walters/Computer Group strategy did redietz debunk?

2) What did Walters get right and what did Walters get wrong?

3) Why is the context in Walters/Computer Group's strategy "faulty?"

4) Why does the context undermine the overall strategy?

5) Redietz also said Walter's knew the contest was faulty. Redietz should explain how you knows Walters was being dishonest with the strategy?

6) Redietz said there was only two "helpful thoughts" in the strategy but you had to "squint real hard to notice them." What were the two "helpful thoughts?"

7) Why does redietz think Walters has Obsessive Compulsive Disorder?

Redietz' answers to these questions should be interesting. I look forward to the interview.

[mickeycrimm]

Not sure this is the epicenter of culture. Confederate flags abound, and nobody cares if one fills a wiseass's ass with buckshot if they annoy you. You, of course, are always welcome to visit. Asheville, down the road, is considered one of the top 50 towns in which to live in many listings.

Gotta love those hill billies.

I spent a night in Sparta, NC: drinkin', racin', watching the fightin'...The Good Old Boy who chauffered me around that mecca of mayhem bragged that for five bucks he could fill up the tank and buy a six pack (1971).

We tore the road up betwixt Sparta and Galax.

In my little Mississippi hometown you could fillup the car and buy a case of beer for $8. The beer was $3 a case.

[MisterV]

Yeah, V, but, tell us that story again about how your brother hit the tree.

The tree in front of Ali's house?

Nah, but here's one...my town had a Fourth of July parade, and as a kid I sold cold soda for a quarter from a tub w/ ice in my Radio Flyer wagon.

One year I had a helper; we never discussed what I'd pay him.

I made a good profit, about $15.00, and when it came time to pay him I handed him a quarter.

He protested so I shot him with my BB gun.

[redietz]

No, the center of the professional sports betting universe is a forum where almost nobody has filed as a professional gambler. LOL.

I spent 90-100 days a year for roughly 25 years in Las Vegas during football season. I apologize for being a specialist who actually wins. I should probably figure out hockey's rules so I could be a Leonardo Da AP.

You've never proven you are a winning sports bettor. Sure, you placed good in some contests. Sure, you have a track record there. But contests are not all there is to sports betting. You haven't shown any results for betting sides and totals straight up for the money which is where the real money was at.

You castigate others for not showing proof but you haven't shown jackshit for proof either.

Not my job to educate. I was monitored by former Seattle Times reporter Mike McCusker for about 15 years. "Tipsters or Gypsters?" was not some contest. It was an annual published compilation of more than a hundred handicappers records for multiple sports. Updates during the season were provided to subscribers.

Plus, all the years I was in The Wise Guys (30+), my games were published in Playbook magazine, sold nationally on newsstands.

Prior to getting my start, I wrote a weekly handicapping column for the Valley View Citizen-Standard. My selections were in print every week.

Sorry if you missed the memo.

[mickeycrimm]

No, the center of the professional sports betting universe is a forum where almost nobody has filed as a professional gambler. LOL.

I spent 90-100 days a year for roughly 25 years in Las Vegas during football season. I apologize for being a specialist who actually wins. I should probably figure out hockey's rules so I could be a Leonardo Da AP.

You've never proven you are a winning sports bettor. Sure, you placed good in some contests. Sure, you have a track record there. But contests are not all there is to sports betting. You haven't shown any results for betting sides and totals straight up for the money which is where the real money was at.

You castigate others for not showing proof but you haven't shown jackshit for proof either.

Not my job to educate. I was monitored by former Seattle Times reporter Mike McCusker for about 15 years. "Tipsters or Gypsters?" was not some contest. It was an annual published compilation of more than a hundred handicappers records for multiple sports. Updates during the season were provided to subscribers.

Plus, all the years I was in The Wise Guys (30+), my games were published in Playbook magazine, sold nationally on newsstands.

Prior to getting my start, I wrote a weekly handicapping column for the Valley View Citizen-Standard. My selections were in print every week.

Sorry if you missed the memo.

Unverifiable claims are not proof. As much as you have accused others of unverifiable claims you should know that. Do you have any verifiable claims?

[Rob.Singer]

You've never proven you are a winning sports bettor. Sure, you placed good in some contests. Sure, you have a track record there. But contests are not all there is to sports betting. You haven't shown any results for betting sides and totals straight up for the money which is where the real money was at.

You castigate others for not showing proof but you haven't shown jackshit for proof either.

Not my job to educate. I was monitored by former Seattle Times reporter Mike McCusker for about 15 years. "Tipsters or Gypsters?" was not some contest. It was an annual published compilation of more than a hundred handicappers records for multiple sports. Updates during the season were provided to subscribers.

Plus, all the years I was in The Wise Guys (30+), my games were published in Playbook magazine, sold nationally on newsstands.

Prior to getting my start, I wrote a weekly handicapping column for the Valley View Citizen-Standard. My selections were in print every week.

Sorry if you missed the memo.

Unverifiable claims are not proof. As much as you have accused others of unverifiable claims you should know that. Do you have any verifiable claims?

This can easily be resolved. Red should resurrect his PR Pkg., which he said he sent a copy of to Alan a few years back. He told us it included verifiable proof of his yearly sports betting winning.

Just tryin' to help.

[accountinquestion]

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.

I pay the 15% regardless on my income? I still learn about taxes but are you saying you can claim gambling winnings without paying the 15%?

I just learned about the solo401k this year. I can put around 60k in it tax free. Sweeet.

[accountinquestion]

Redietz has only offered to answer questions if a member on this board gets on the stupid video. He goes on and on about the content but there never is any. It is clear he will never go on druffs show let alone any other sort of simple interview. His whole existence on here is basically a series bluffs to avoid any actual discussion.

《Slams gavel》 I rule in favor of the board. Redietz has been found guilty of gross exaggeration if not outright lies.

[AxelWolf]

No, the center of the professional sports betting universe is a forum where almost nobody has filed as a professional gambler. LOL.

I spent 90-100 days a year for roughly 25 years in Las Vegas during football season. I apologize for being a specialist who actually wins. I should probably figure out hockey's rules so I could be a Leonardo Da AP.

You've never proven you are a winning sports bettor. Sure, you placed good in some contests. Sure, you have a track record there. But contests are not all there is to sports betting. You haven't shown any results for betting sides and totals straight up for the money which is where the real money was at.

You castigate others for not showing proof but you haven't shown jackshit for proof either.

I was monitored by former Seattle Times reporter Mike McCusker for about 15 years. .

"Monitored" Can you elaborate on what that means and consists of? It seems like a strange choice of words. Teenagers are oftentimes monitored by their parents, however, they seem to find ways to get pregnant, do drugs, drink alcohol, commit crimes, and get into various other shenanigans all while looking them straight in the face and lying to them about it.
Meanwhile, their parents think they are good kids and trust them wholeheartedly while believing they wouldn't ever engage in various BS

[MaxPen]

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.

I pay the 15% regardless on my income? I still learn about taxes but are you saying you can claim gambling winnings without paying the 15%?

I just learned about the solo401k this year. I can put around 60k in it tax free. Sweeet.

If you're a professional gambler that is unincorporated you are filing your wins, losses, and expenses on Schedule C just like any other sole proprietor. You pay 15.3% self employment tax on top of your regular income tax.

If you're not a pro your wins and losses net result will be filed on Schedule A. You are only subject to income tax according to your tax bracket on that. No additional self employment tax. You cannot claim losses until you meet your standard deduction under this scenario. You will not pay self employment tax in addition to income tax under this scenario.

The IRS gets real squirrelly once an individual starts claiming professional and deducting expenses. Especially in a case such as Singer's claim. I have seen the few people that tried what he was claiming he did for ten years denied professional status. A person would only even want to attempt it if they were already maxing out social security anyhow. But most likely in that scenario they would fail to meet IRS qualifications.