Hi all long story short after early success in December with sports betting the first half of 2011 was a complete disaster and toward the end of May I was tracking about $30,000 lost. Couple of maxed out ************ that I was going to have to cash out my 401k to pay. I managed to get about $15K back into my account by the time my girlfriend found out and gave me an ultimatum--quit and cut my losses or lose her. I convinced her to give me 2 weeks to try to get the extra $10K back.
So this past Sunday was the 2 week mark and I'd lost all of that $15K except for $2K so as a last ditch effort I did a 6 team baseball parlay to win about $36K and it hit thanks to a miracle 2 run bottom 9th from Milwaukee. But I am so done because I can't control it once I start.
So here's my real question--how do I take this money out? I have it in Youwager (who is great btw) and they do bank wires with a max of $25K. If I take it all out in $25K and then $11K is the government going to come sniffing? Should I do it in 4 $9K increments? Does it matter?
Thanks.
So this past Sunday was the 2 week mark and I'd lost all of that $15K except for $2K so as a last ditch effort I did a 6 team baseball parlay to win about $36K and it hit thanks to a miracle 2 run bottom 9th from Milwaukee. But I am so done because I can't control it once I start.
So here's my real question--how do I take this money out? I have it in Youwager (who is great btw) and they do bank wires with a max of $25K. If I take it all out in $25K and then $11K is the government going to come sniffing? Should I do it in 4 $9K increments? Does it matter?
Thanks.