Living Off Only Sports Betting (help)

[Pill Gates]

Hey everyone I have a couple questions about sports betting laws and paying taxes and things of that nature if anyone could give me advice/tips about the matter it would be greatly appreciated.

Quick background story about what i plan on doing for 2015. So i quit my dead end job in late december of 2014 and havent been employed since and to be honest i would like to try an "experiment" which consists of not being federally employed and soley having an income from sports betting I live in Idaho and the nevada border is a 45 minute drive from where I live and as soon as you enter NV there's a casino/sportsbook where i make my bets.

So far in 2015 ive made 3k just off sports bets. No other income. I was wondering if any of you make a living soley off of gambling and do not reside in NV and how do you go about it the legit way meaning at the end of the year how do you file your taxes and what do you need to keep track of. Honestly I just dont want to get in trouble.

I know chances are i probably wont be successful but for shits and giggles lets say I make a decent amount of money by the end of the year..What are the things I need to do to avoid getting in trouble with taxes and the laws involving gambling.

Thanks!

[Ghenghis Kahn]

wrong forum. this site is for entertainment purposes only and not for gambling.

[crackerjack]

This story is going to end badly

[jjgold]

Don't waste your time kid you'll end up homeless in the street

It's impossible especially if you live in United States other than maybe Las Vegas

You need at least $100,000 Bankroll to start

[dumdum214]

Don't waste your time kid you'll end up homeless in the street

It's impossible especially if you live in United States other than maybe Las Vegas

You need at least $100,000 Bankroll to start

yet you go to vegas with 15k to do the same thing

[daneblazer]

[jjgold]

Kid I have been gambling a long time… Also smart enough to go to Las Vegas… 15,000 should get it done for me because I'm experienced

Do not use loansharks

[JAMES GIBSON]

Good luck

[bookme]

Do you get to write off your losses?

[Pill Gates]

Should have known better haha..appreciate the responses and to the ppl thinking this will end bad i'm willing to post all my plays as soon as i figure out how to use this damn sbr spreadsheet lol i myself am interested to see what the outcome will be. i'll be starting off with the 3k i've made so far.

[bookme]

I think the best and most accurate answe would be to ask the clerk or the manager at a sports book?

[Big Bear]

wrong forum. this site is for entertainment purposes only and not for gambling.

exactly. None of us bet real money unless we are in Las Vegas where it is legal.

[JoeyBagels]

Can't figure out a SBR spreadsheet and expects to beat markets that take up to and above million dollars on a side of one game. You can't make this shit up

[ramones951]

Can't figure out a SBR spreadsheet and expects to beat markets that take up to and above million dollars on a side of one game. You can't make this shit up

[Big Bear]

Can't figure out a SBR spreadsheet and expects to beat markets that take up to and above million dollars on a side of one game. You can't make this shit up

why you gotta try to discourage him.

support your fellow posters and their dreams.

[byronbb]

Don't waste your time kid you'll end up homeless in the street

It's impossible especially if you live in United States other than maybe Las Vegas

You need at least $100,000 Bankroll to start

Naw you could do 50k and hammer props and stale lines and turn it over in a year. If you had a brain.

[jjgold]

Piller good luck

If your in Vegas I will teach you how to be a pro

[scumbag]

obv advise is smarten up, quit, you've got no shot.

but those computer gamblers at 2p2 told me i had no shot. 4 years later, 800 bets, and 300k in profit. I'm glad i was a hard head.

my advise would be only attempt this if you're smart and not a conformist/sheep/idiot.

get a feel for where the line is going, public perception, also, know the sport you're betting on a very deep level. like a really deep level (the kind of level where you could be a coordinator or a scout)

[ronald]

This reminds me of former SBR poster LVBOUND. Guy was a cop and convinced he was gonna quit his job, move to Vegas and make it big. He fell flat on his face.

There's only one poster in forum history who's actually dropped everything and moved to Vegas.

His name is CORBIN.

[Big Bear]

obv advise is smarten up, quit, you've got no shot.

but those computer gamblers at 2p2 told me i had no shot. 4 years later, 800 bets, and 300k in profit. I'm glad i was a hard head.

my advise would be only attempt this if you're smart and not a conformist/sheep/idiot.

get a feel for where the line is going, public perception, also, know the sport you're betting on a very deep level. like a really deep level (the kind of level where you could be a coordinator or a scout)

do u post your plays?

[Pill Gates]

Can't figure out a SBR spreadsheet and expects to beat markets that take up to and above million dollars on a side of one game. You can't make this shit up

i figured it out fuccbwoi up $92 today i'll be a millionaire in no time dont sleep!

[Bigbill365]

With the live betting offered online you can turn a pretty good profit betting both sides but you need to be able to feel were a line will go if your able to hit opening line of -3 and get the other side live bet of +7 bam you got your self a perfect middle and your guranteed to atleast hit one side and a chance to hit 2 bets thats how you make money now a days.theres a lot more stratagies then just betting one side and hoping for the best.

[MoneyLineDawg]

Everyone saying don't do it but if you have the time and enough money to atleast live, give it a shot......Only live once man

Maybe you meet someone that changes your life, maybe you hit the slot jackpot you decided to play with the change in your pocket while just walking by

Maybe you actually grind out a profit......I would try to get a part time job or something as well if you need to

Most likely you're back where you started with less money but you'll never know till you give it a shot

[TwoWays]

I'll give u a gem. Watch the substitution patterns of lin for the lakers in second half. Team usually falls off big time when he plays

[TwoWays]

Mld, picking winners not the problem for people. It's the patience that's required for this games to pop up that is most difficult

[jjgold]

i figured it out fuccbwoi up $92 today i'll be a millionaire in no time dont sleep!

Gates good start

[scumbag]

do u post your plays?

no. i'll post the occasional ticket but that's about it. i was on seattle +100 and U49.5 so i wound up on a down note, looking forward to the off season, no stress and the freedom to pursue some things i'm passionate about.

even considering how my career has gone. i still struggle with the fact that the loses hurt more than the wins feel good. so its a not exactly a fulfilling lifestyle. combined with the fact thats it's an independent thing, i'm a social creature, or at least i was. so staying couped up for days on end starring at computer screens kind of blows.

i'd snap be a 60k/year square, but that's just me. i was kind of forced into this thing and im grateful but still a little cun.ty about it despite more money and freedom than i've ever had.

[Pill Gates]

@moneylinedog yeah man i've got nothing but time. all i do is watch sports i watch them all. I see what you're saying about getting a part time job but for now i'm going to treat this as a job 45 minute commute is nothing i used to drive about that distance when i did have a job. the way i see it ive got 3k to play with, to see how this pans out and its house money so i'm saying if i lose that money then thats when i'll start looking for a part time. But for now im %100 dedicated to this. thanks for the encouragement.


@Twotimes thanks man i'll def watch for that.

[THam12]

obv advise is smarten up, quit, you've got no shot.

but those computer gamblers at 2p2 told me i had no shot. 4 years later, 800 bets, and 300k in profit. I'm glad i was a hard head.

my advise would be only attempt this if you're smart and not a conformist/sheep/idiot.

get a feel for where the line is going, public perception, also, know the sport you're betting on a very deep level. like a really deep level (the kind of level where you could be a coordinator or a scout)

smart enough to win 300k but not smart enough to spell "advice." Yeah, i believe you, guy.

[jjgold]

Gates whats your roll at?

Also do you smoke pot?

[THam12]

Gates whats your roll at?

Also do you smoke pot?

2 very related questions.... answer wisely gates.

[gauchojake]

I'll give u a gem. Watch the substitution patterns of lin for the lakers in second half. Team usually falls off big time when he plays

don't kill the golden goose sir

[Pill Gates]

2 very related questions.... answer wisely gates.

@jj lol used to but now i just drink

[TwoWays]

don't kill the golden goose sir

Gaucher, he is the only self-check in nba.

[Filmoz]

Keep accurate records. Deduct losses to the extent of your wins. Pay quarterly estimated taxes to the IRS. File Schedule C and Schedule SE with your 1040 at tax-time.