Who is the Biggest Degenerate Gambler On This Site??

[illfuuptn]

I would put self-employed and then when I get audited(which I probably would as someone who is "self-employed" and makes a ton of money) I would just show them my winnings at the online sportsbooks. It's NOT illegal to gamble online using offshores. It's only illegal for banks to knowingly process gambling transactions.

[Br0nxer]

Gamble for a living?

Take your $300 bankroll and go watch some wrasslin' videos in your parents' basement.

[brahmabull117]

(which I probably would as someone who is "self-employed" and makes a ton of money) .

I don't think I have seen u post a winner in your life dude




in any case though, is it really true that it's not illegal to gamble online??? I always thought it was illegal

[illfuuptn]

I don't think I have seen u post a winner in your life dude




in any case though, is it really true that it's not illegal to gamble online??? I always thought it was illegal

I actually wasn't saying that applied to me. It was hypothetical.

That's because you're dumb.

[brahmabull117]

That's because you're dumb.

so there's no regulation that states that gambling online is illegal??



just that having a sportbook in the US is illegal and it's illegal for banks to accept those transactions?? Do u have any proof on this brah?? I'm very curious

[krk1030]

so there's no regulation that states that gambling online is illegal?? just that having a sportbook in the US is illegal and it's illegal for banks to accept those transactions?? Do u have any proof on this brah?? I'm very curious

He is 100% wrong. It's totally illegal.

If you place one bet the FBI will be at your door tomorrow.

[brahmabull117]

If you place one bet the FBI will be at your door tomorrow.

[Sunde91]

-300 brahm is a jjgold sock account

[statnerds]

Of course it is illegal based on a 50 year law that was written before the Internet existed and since 99.5% of connections are wireless, isn't it impossible to apply now?

And what the fukk OP? You just made a thread address like 2 people on this whole site. the majority of these fukks are on tilt, have been on tilt or are destined for tilt.

[TheCentaur]

I would put self-employed and then when I get audited(which I probably would as someone who is "self-employed" and makes a ton of money) I would just show them my winnings at the online sportsbooks. It's NOT illegal to gamble online using offshores. It's only illegal for banks to knowingly process gambling transactions.

I would avoid putting self employed because you have to pay self employment tax on it which on 50k net income would be almost an extra 8k.

Why not put it as other income gambling winnings and if it makes you feel more comfortable, report your gross winnings there and claim the losses as an itemized deduction. Day traders don't pay self employment tax as far as I know, so why should you?

[Justin7]

I would avoid putting self employed because you have to pay self employment tax on it which on 50k net income would be almost an extra 8k.

Why not put it as other income gambling winnings and if it makes you feel more comfortable, report your gross winnings there and claim the losses as an itemized deduction. Day traders don't pay self employment tax as far as I know, so why should you?

Set up a corporation that does the betting, and pay yourself through that structure. There are some crazy things you can legally do, but you'll add 5k in overhead a year. If you make 100k+ a year, it's worth getting a tax attorney to set up things.

[ACoochy]

Set up a corporation that does the betting, and pay yourself through that structure. There are some crazy things you can legally do, but you'll add 5k in overhead a year. If you make 100k+ a year, it's worth getting a tax attorney to set up things.

[TheCentaur]

Set up a corporation that does the betting, and pay yourself through that structure. There are some crazy things you can legally do, but you'll add 5k in overhead a year. If you make 100k+ a year, it's worth getting a tax attorney to set up things.

That helps if the corp. pays you dividends instead of earned income, but legally you aren't supposed to do that, it is supposed to be subject to social security and med whether you pay half and the corp pays half or you forget the corp and do a schedule c and pay all.

I suppose it is an advantage that the half the corporation paid could be claimed as a deduction, but not that big of one. I think that's what you are talking about.

[illfuuptn]

People here who think it's illegal to set up an account with an online offshore book, bet at said book, and cash out are fukking RETARDED.

[brahmabull117]

I would avoid putting self employed because you have to pay self employment tax on it which on 50k net income would be almost an extra 8k. Why not put it as other income gambling winnings and if it makes you feel more comfortable, report your gross winnings there and claim the losses as an itemized deduction. Day traders don't pay self employment tax as far as I know, so why should you?

okay here's another question



if you're making alot of money as a gambler, can you still get financing for cars and houses even though you technically have no constant income???

[TheCentaur]

Hey here is an idea Justin7. Do you think someone could set it up so that the starting bankroll for the year is the initial investment into a fund, and then the net gain on the last day of the year are long term capital gains so the lower tax rate applies?

[topgame85]

you may lose 20% of your BR tonight when you get a 50 k roll and bet 1-3% per game these may be appropriate questions.

[TheCentaur]

okay here's another question



if you're making alot of money as a gambler, can you still get financing for cars and houses even though you technically have no constant income???

These are the real problems. I suppose if you can show several years of tax returns showing income it would help, but they would never look at it near as favorably as regular income, and I would suspect you would have problems.

[BookiesBernanke]

Why dont you fukkin move out of the US you dumb piece of sh*t

If you want to be a professional gambler and think you are destined to make millions, why the fukk would you live in the USA?

[ACoochy]

Hey here is an idea Justin7. Do you think someone could set it up so that the starting bankroll for the year is the initial investment into a fund, and then the net gain on the last day of the year are long term capital gains so the lower tax rate applies?

good question centaur

[TheCentaur]

good question centaur

Guess we'll have to research that ourselves

[hawley]

Brah how much will you sell your picks for?

[brahmabull117]

so what would u guys do if you were audited??



there's nothing the government can do to take your money away right as long as you pay your taxes right???

[brad89]

Cmon DDCT

aaaaaahahahah is it actually the same guy?

[ACoochy]

You're currently feeling the gambling high as far as winning goes. It will cause your brain to think you are invincible, but in actuality your not. You are just on a nice little run and that's all it should be. We are not gonna convince you to become tout, and to become a tout you need to have a bigger track record than one baseball season, and if you rebuttal with yeah I won in other years too it doesn't matter. It wasn't documented so it means dog shit. Words of advice ........... " Just keep your f u c k i n g mouth shut" during your streak of success. Cash in and be humble because you will not win like this for the rest of your life.

+1.

[rsnnh12]

aaaaaahahahah is it actually the same guy?

U aware?

Yessir, it is

[hawley]

Cant believe I missed this thread

OK now i Believe this guy is another posting having a laugh

Who is it? JJ?

[eidolon]

touting isn't about being good at making picks. It's about "touting" yourself. Making crap look like gold. You have make everything seem 100 times better then what they really are. If you aren't a car salesman then you won't make it. You have to want to take everyone's last dime no matter if you are doing good or not.

[Tech N9ne]

Brahma forget about about goin tout

Become a tranny

JJ give you good business

[sweethook]

i think you know to much already , but talk to your tax guy he'l do you right , gl

[iceminers26]

the new SBR

[iceminers26]

the new SBR

[iceminers26]

the new SBR

[iceminers26]

the new SBR

[brad89]

U aware? Yessir, it is

Yep

From memory he was betting $20 per game and was thinking about leaving school to do it full time? Can't really remember his story because it was a while back, when Sam (?) was on a run in the NBA and everyone used to go on that chat site etc.

How do you know it's DDCT?