Stimulus for pro gamblers

[AndrewG]

I'm afraid pro gamblers may be locked out of the small business stimulus funds. I received this info from Bank of America today which advises small business owners about what will be needed to get SBA loans under the stimulus package. Unless you have employees in your pro gambling business you might get little or nothing.

BofA says:

"Based on the legislation, it may be helpful for interested business owners to gather the following information about their business:
2019 Payroll — including the last 12 months of payroll
2019 Employees — 1099's for 2019 employees and independent contractors that would otherwise be an employee of your business. (Note: Do NOT include 1099's for services)
Healthcare costs — all health insurance premiums paid by the business owner under a group health plan.
Retirement — your company retirement plan funding paid for by the company."

[Rob.Singer]

There's like 70 ways around all that. Whenever a BANK identifies "what may be helpful" you automatically know it's nothing but some opinion.

Pro gamblers should know better. Especially now. The smart ones will apply for stimulus help and they'll get it. And even if there's some type of audit it'll be years down the road, and pleading confusion will simply close the case. Opportunistic people know how to take full advantage of EVERYTHING that comes along. Those who don't or refuse to are the weak ones that live in this world.

A stimulus opportunity like this doesn't come along every day. Intelligent players aren't keenly aware of that.

[AndrewG]

SBA just announced rules for $10,000 Covid loans. If more than one-third of your income comes from LEGAL gambling you are NOT eligible. This shuts the door on aid for pro gamblers.

[Tasha]

SBA just announced rules for $10,000 Covid loans. If more than one-third of your income comes from LEGAL gambling you are NOT eligible. This shuts the door on aid for pro gamblers.

You could claim you lost big money gambling and still get that Stimulus Advantage. You could claim you played $50,000 and you got a $45,000 win meaning you lost $5,000.

[AxelWolf]

SBA just announced rules for $10,000 Covid loans. If more than one-third of your income comes from LEGAL gambling you are NOT eligible. This shuts the door on aid for pro gamblers.

We shouldn't get paid for a vacation.

[Rob.Singer]

SBA just announced rules for $10,000 Covid loans. If more than one-third of your income comes from LEGAL gambling you are NOT eligible. This shuts the door on aid for pro gamblers.

Irrelevant. This isn't about SBA loans.. The stimulus provides for Grants, which will be forgiven. If you confused loans with grants then it wouldn't take much to work around that 30% figure. The first and easiest way would be to apply for the grant while manipulating the numbers to be valid, and in the very tiny chance an audit ever results, simply have an explanation prepared that confirms the confusion of the day. It isn't that hard. Only weak, incompetent people wouldn't do it. Individuals in business for themselves who have lost their income stream because of the virus are 100% eligible...just as all small businesses with less than 500 employees are.

Astute professional gamblers will find a way to take advantage of this, providing they aren't operating their business outside of acceptable IRS parameters. In that case they should just remain silent.

[mickeycrimm]

I'm not really concerned about getting money from a stimulus package. I'm more concerned with the slot parlours in Montana being shut down. And when they open back up is anyone except retiree's going to have the money to play. Though I consider myself retired I was still getting out around town most every morning and hitting a slot parlour or two. It gave me something to do that wasn't to strenuous and I was picking up some pocket change.

For March I had an $1134 lead before the shutdown. It's something to do and I make a little money at it. Along with SS it makes it a pretty easy retirement and I don't have to go into my savings. It's not what I was making before but okay by me. I really don't need it anymore. Montana is a pretty cheap place to live.

[AndrewG]

The $10,000 loan is the grant. Pro gamblers don't get it. It says so right on the form. Why do you argue?

[kewlJ]

We shouldn't get paid for a vacation.

For a vacation...No. That would be time that we choose to take off. That is part of being a professional player and being self employed. We set our hours and decide when we work and don't.

But this isn't our choice. The casinos were forced to close by government order and we as workers and self employed are being told by the government to stay home. This takes obviously away our livelihood, just the same as anyone else.

If the government is going to give people effected by this shutdown. Money to help compensate for money they can't earn during the shutdown, we are just as entitled to that help as anyone else, because we have lost our livelihood. You will notice I said "if", because that is not the way I would have done it. But that is a different discussion.

I should note, my comments were specific to Axel's "shouldn't get paid for a vacation" comments and I was referring more to the areas of the relief package, dealing with the direct payments and unemployment compensation. For the business grants, that Alan mentioned specific to this thread...no, a professional gambler should not qualify, even if he has set himself up as a small business. That part of the relief package is clearly for small restaurant and shops and such.

[AndrewG]

Right from the application form:

Applicant does not derive more than one-third of gross annual revenue from legal gambling activities.

[MaxPen]

SBA just announced rules for $10,000 Covid loans. If more than one-third of your income comes from LEGAL gambling you are NOT eligible. This shuts the door on aid for pro gamblers.

Irrelevant. This isn't about SBA loans.. The stimulus provides for Grants, which will be forgiven. If you confused loans with grants then it wouldn't take much to work around that 30% figure. The first and easiest way would be to apply for the grant while manipulating the numbers to be valid, and in the very tiny chance an audit ever results, simply have an explanation prepared that confirms the confusion of the day. It isn't that hard. Only weak, incompetent people wouldn't do it. Individuals in business for themselves who have lost their income stream because of the virus are 100% eligible...just as all small businesses with less than 500 employees are.

Astute professional gamblers will find a way to take advantage of this, providing they aren't operating their business outside of acceptable IRS parameters. In that case they should just remain silent.

This explains your past run-ins with the welfare police

[Rob.Singer]

Right from the application form:

Applicant does not derive more than one-third of gross annual revenue from legal gambling activities.

Continued ignorance. Re-read "there are 70 ways around that" for astute pro players.

If you're Alan as kew and others say you are, I understand your taking the contrarian point of view on what many people post.

[Rob.Singer]

We shouldn't get paid for a vacation.

For a vacation...No. That would be time that we choose to take off. That is part of being a professional player and being self employed. We set our hours and decide when we work and don't.

But this isn't our choice. The casinos were forced to close by government order and we as workers and self employed are being told by the government to stay home. This takes obviously away our livelihood, just the same as anyone else.

If the government is going to give people effected by this shutdown. Money to help compensate for money they can't earn during the shutdown, we are just as entitled to that help as anyone else, because we have lost our livelihood. You will notice I said "if", because that is not the way I would have done it. But that is a different discussion.

I should note, my comments were specific to Axel's "shouldn't get paid for a vacation" comments and I was referring more to the areas of the relief package, dealing with the direct payments and unemployment compensation. For the business grants, that Alan mentioned specific to this thread...no, a professional gambler should not qualify, even if he has set himself up as a small business. That part of the relief package is clearly for small restaurant and shops and such.

Why shouldn't a professional gambler get a piece of this pie. Even "Alan"--whom you deem an expert in every field related to gambling--has admitted to pro gamblers having an "iN" if a guideline is met. And you would pass this up?

This tells me either you're afraid of your own shadow when it comes to sticking up for yourself, or you're not really a pro player.

[kewlJ]

Continued ignorance. Re-read "there are 70 ways around that" for astute pro players.

If you're Alan as kew and others say you are, I understand your taking the contrarian point of view on what many people post.

MaxPen is correct. You are talking about welfare fraud all over again. It is just this would be corporate or business welfare fraud. You rail about the blacks abusing welfare and social programs. Being that you are of Black African heritage, it must just be in your DNA.

[Rob.Singer]

Continued ignorance. Re-read "there are 70 ways around that" for astute pro players.

If you're Alan as kew and others say you are, I understand your taking the contrarian point of view on what many people post.

MaxPen is correct. You are talking about welfare fraud all over again. It is just this would be corporate or business welfare fraud. You rail about the blacks abusing welfare and social programs. Being that you are of Black African heritage, it must just be in your DNA.

Now there's a weird post that redietz could have concocted.

[AndrewG]

We shouldn't get paid for a vacation.

For a vacation...No. That would be time that we choose to take off. That is part of being a professional player and being self employed. We set our hours and decide when we work and don't.

But this isn't our choice. The casinos were forced to close by government order and we as workers and self employed are being told by the government to stay home. This takes obviously away our livelihood, just the same as anyone else.

If the government is going to give people effected by this shutdown. Money to help compensate for money they can't earn during the shutdown, we are just as entitled to that help as anyone else, because we have lost our livelihood. You will notice I said "if", because that is not the way I would have done it. But that is a different discussion.

I should note, my comments were specific to Axel's "shouldn't get paid for a vacation" comments and I was referring more to the areas of the relief package, dealing with the direct payments and unemployment compensation. For the business grants, that Alan mentioned specific to this thread...no, a professional gambler should not qualify, even if he has set himself up as a small business. That part of the relief package is clearly for small restaurant and shops and such.

Why shouldn't a professional gambler get a piece of this pie. Even "Alan"--whom you deem an expert in every field related to gambling--has admitted to pro gamblers having an "iN" if a guideline is met. And you would pass this up?

This tells me either you're afraid of your own shadow when it comes to sticking up for yourself, or you're not really a pro player.

A professional gambler cannot get a piece of this pie because the fine print blocks them.

Also blocked are members of Congress, those with a felony, and businesses selling porn. Look at the frigging SBA application.

[kewlJ]

A professional gambler is not a business that is entitled to a small business loan designed to help businesses like small restaurants and shops whether the storm. He/she IS entitled to the $1200 direct payment if he/she qualified by earning less than 99K on their latest tax return.

And although, I am still getting information on this, the way it looks to me now is that he/she may be entitled to unemployment benefits under the expanded (loosened) eligibility.

Nothing wrong with getting everything you are entitled to. There is something wrong with trying to manipulate your way to getting something you know you are not entitled to. And by your comments, you acknowledge that you know you are not entitled to. That is a simple lesson of right and wrong. A lesson your parents obviously failed at teaching you. That is apparent over and over again in almost everything you do and say.

[kewlJ]

Hey Rob, are you back on the food stamp program? I know when you get busted you are kicked off for 5 years or some period. Have you served your sentence?

I ask because wasn't their something in this relief bill about expanding or increasing food stamp benefits? Or maybe that was something the dems tried to get in but couldn't....I don't really know. But maybe you will find out tomorrow Rob and have extra food stamps. I am pulling for ya Robby.

[Rob.Singer]

For a vacation...No. That would be time that we choose to take off. That is part of being a professional player and being self employed. We set our hours and decide when we work and don't.

But this isn't our choice. The casinos were forced to close by government order and we as workers and self employed are being told by the government to stay home. This takes obviously away our livelihood, just the same as anyone else.

If the government is going to give people effected by this shutdown. Money to help compensate for money they can't earn during the shutdown, we are just as entitled to that help as anyone else, because we have lost our livelihood. You will notice I said "if", because that is not the way I would have done it. But that is a different discussion.

I should note, my comments were specific to Axel's "shouldn't get paid for a vacation" comments and I was referring more to the areas of the relief package, dealing with the direct payments and unemployment compensation. For the business grants, that Alan mentioned specific to this thread...no, a professional gambler should not qualify, even if he has set himself up as a small business. That part of the relief package is clearly for small restaurant and shops and such.

Why shouldn't a professional gambler get a piece of this pie. Even "Alan"--whom you deem an expert in every field related to gambling--has admitted to pro gamblers having an "iN" if a guideline is met. And you would pass this up?

This tells me either you're afraid of your own shadow when it comes to sticking up for yourself, or you're not really a pro player.

A professional gambler cannot get a piece of this pie because the fine print blocks them.

Also blocked are members of Congress, those with a felony, and businesses selling porn. Look at the frigging SBA application.

You just claimed the 30% rule. Now you're flip-flopping. What an idiot.

[Rob.Singer]

A professional gambler is not a business that is entitled to a small business loan designed to help businesses like small restaurants and shops whether the storm. He/she IS entitled to the $1200 direct payment if he/she qualified by earning less than 99K on their latest tax return.

And although, I am still getting information on this, the way it looks to me now is that he/she may be entitled to unemployment benefits under the expanded (loosened) eligibility.

Nothing wrong with getting everything you are entitled to. There is something wrong with trying to manipulate your way to getting something you know you are not entitled to. And by your comments, you acknowledge that you know you are not entitled to. That is a simple lesson of right and wrong. A lesson your parents obviously failed at teaching you. That is apparent over and over again in almost everything you do and say.

Kew, you have created your internet identity as being all ethical, legal, moral blah blah blah. Yet you really don't understand what it takes to be a true AP. That "AP" status, for successful professional gamblers, extends to every single part of your life. If not, you get eaten alive and come off as extremely amateurish. If you're too timid to grab a slice of what's offered you and instead choose to label yourself as "unemployed" then enjoy the peanuts they'll make you fight for. File for a grant and the risk/reward is far greater....unless all you really are is a two-bit hustler.