raising enough money?

[mikeanite]

how do you raise enough money to put on a few plays and call it a year? and not be a on the radar for years to come?

[flocko76]

go to vegas

[BuddyBear]

Basically a few option:

1) Raise the money yourself (i.e. savings or job related income; inheritance)
2) Borrow the money somehow (i.e. rich grandmother)
3) Work with a group/syndicate by pooling money together
4) Be an elite handicapper--top 5%--and find an investor willing to bankroll you where you and him work out a deal about how much you get
5) Start with a small sum (say $20,000) and if you're good enough you can grow it over time to a substantial sum

[easyliving]

Start saving money and in 2-3 years you should have enough saved to take the risk and try to bet for a living

[mikeanite]

someone give me an clear answer here. if i were to put down a huge bet and win it in the las vegas sportsbook are they gonna try to tax me on my winnings?

[BuddyBear]

someone give me an clear answer here. if i were to put down a huge bet and win it in the las vegas sportsbook are they gonna try to tax me on my winnings?

What constitutes a huge bet?

My understanding is anything > $10,000 must be reported to the gvmnt. You could just split it up. That would be ur best bet.

[yak merchant]

someone give me an clear answer here. if i were to put down a huge bet and win it in the las vegas sportsbook are they gonna try to tax me on my winnings?

Maybe you shoud start with asking a clear question. First you ask how to raise money (which I found amusing). Then how to not be on the "radar" (whose radar?). Now you want advice on the tax code? Whether or not the sportsbook taxes you or not is legally irrelevant as if you win are required to claim as income. If you want off the radar and are going to just take your chances with the IRS, I'm sure you can find a local in NYC to take a hefty sum. Granted that comes with it's own risks but nothing ever bad happens when you do business with the mob.

[paranoyd androyd]

a few 'big' plays will allow you to 'call it a year'? errrrr define 'big' and list your other revenue sources and monthly cash spend.

[mikeanite]

well i didn't say i was gonna put in the bet. more of a information gathering. i guess it is the wrong crowd to ask since most of the people who answers are losing players. the tax question i could get it anywhere.

[onacloud]

this guy is making no sense.... just ASK THE QUESTIONS YOU WANT TO ASK ... stop beating around the bush

You asked how to raise money was that serious?

[YorkHunt]

Don't gamble