Casinos in vegas to start up online pokersites in 2011

[dukeman]

i hope they start it to much money for the goverment to turn down hope it starts soon

[gryfyn1]

all winnings are technically taxable income, but at the 5k mark, they are required to fill out a form

correct according the IRS

The following rules apply to casual gamblers. Gambling winnings are fully taxable and must be reported on your tax return. You must file Form 1040 (PDF) and include all of your winnings. Gambling income includes, but is not limited to, winnings from lotteries, raffles, horse races, and casinos

as casinos only file the paperwork if you cash out over a certain amount (not all are 5K some are less), if they run an online poker room, part of the rules will probably mean the IRS can have access to all withdrawals.

[CashItIn]

I go ar enn

[Richards]

Likewise can't you write off losses? I.e. if you won 5k during the year and lost 10k doesn't this offset? correct me if I'm wrong.

[underthe total]

xxx

[shinnman]

Likewise can't you write off losses? I.e. if you won 5k during the year and lost 10k doesn't this offset? correct me if I'm wrong.

yes but you better document it

[vividjohn45]

if you can master any casino table game. you will make more money then poker., unless you win a big tourney at poker or a high stake csh player. hell a 1.25 wager on caveman keno on a 10 out of 10 pays out 125K. with three eggs hatched. so really a 13 out of 13. the current. gameking 10 for 10 (non caveman) on a .20 cents
wager progressive is 16K .

i hit four 7 out of 10 in caveman. the last few weeks. keno paying out more rite now. (caveman's casino hold around 6%) but do you know where there are loose keno machines due to competition. and then which keno machines are paying out currently.? i just saw a lady hit 8 of 10 cvmn next to me. 325 to 1. i never have but i get 7's a lot and in bunches.

many casino games are ezier then poker.

guys like ivey don't just sit at the tables and play pookems all day. ivey has a large credit line at the venetian. and likes to play table games. i know a female bj dealer there, hot as hell, but in her early thirties. has wrist problems from dealing. . says he is real snotty. and demanding.

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heck if you had just bet nba dogs this playoffs you would be up more then from poker. ats 3-1 today.

anyway. the main key is this to make money at casinos. "can the game be beaten?" if it can. then you proly can make more at it then poker.

ask the black jack mit teams that raided out vegas for a few years. their winnings rank amonst top poker stars. seigael sitting at 13million lifetime tourney winnings. durrrrr maiking 3 million in cash high limits in 2009 but then droping half the next year due to variance issues.

i've seen durrrrr drop 600k on one hand (aa) greenstein catchng trip jacks. on high stakes. i've seen daniel drop 300k to ? quad 5's. danilel flopping a fullhouse.