| Posted by: Dave R at October 1, 2001, 5:28 am | | Topic: Advantage Play Forum: Winner Online |
Velveeta,
I know you didn't LITERALLY steal your ideas from Spearmaster. I just meant he beat you to it. Your bonushunt.com site is excellent, and I agree with your opinions on using credit cards s Firepay, Paypal or Netteller.
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| Posted by: Woody0 at September 30, 2001, 7:38 pm | | Topic: Advantage Play Forum: Winner Online |
Interesting thoughts. I'm ery comfortable with my laptop perched on the arm of my sofa listening to music or some mindless drivel on TV. After a certain time blackjack becomes so automatic and mindless that I mostly wait for the software. Only RTG, where I can get over 400 hands per hour, consumes my attention. With the TFT display the small size is OK since you can get close.
Dave R. certainly has some useful ideas. I don't see the need for 2 computers though unless you play both simultaneously. With ADSL I can download and play simultaneously without impairing the speed of either.
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| Posted by: Trader at September 30, 2001, 4:09 pm | | Topic: Advantage Play Forum: Winner Online |
Dave, I agree with you on the high speed connection. My cable modem only costs $39.95 per month and that eliminates the need for a separate ISP. Most casino downloads take less than two minutes. It also keeps the phone line free so I can call customer support while I am at the casino web site when I have a question for them. I still have a 56K modem so I can send faxes to all those RTG casinos. I would have to take up arms against anyone who tried to take my cable modem away.
I also recommend a large, high quality monitor. Mine is 19 inches. If you do gamble for several hours every day, you don't want to be squinting.
While it may seem trivial, I also recommend investing in a really good quality chair. It should have plenty of padding and be fully adjustable. It is probably not the $99 special at the local office superstore. If you are not comfortable you are more likely to get impatient and do something you will later regret.
Decide on the stategy you will use before you pla... | | Read Entire Entry |
| Posted by: scaven at September 30, 2001, 3:59 pm | | Topic: Advantage Play Forum: Winner Online |
wow thats a lot of sites dave!
I have 3 questions.
1) do you just play strictly for the bonuses?
2) how did you find out about so many bonus sites?
3) can you post the web addresses of the sites, as I was unable to figure some of them out.
Thanks
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| Posted by: Velveeta at September 30, 2001, 1:00 pm | | Topic: Advantage Play Forum: Winner Online |
Dave, any chance you want to get around to this since you still seem to be on this board?
http://www.winneronline.com/ubb/Forum1/HTML/002807.html
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| Posted by: Portia at September 30, 2001, 11:59 am | | Topic: Advantage Play Forum: Winner Online |
Dave R :
Comment ca marche? Est-ce-que ous me donne un PM a FB ? Et Je ous respondez le meme.
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| Posted by: Dave R at September 30, 2001, 11:19 am | | Topic: Advantage Play Forum: Winner Online |
To be a successful advantage player and make 40K+ per year, you need a recipe for success.
Part of this recipe is to make sure you have a high speed internet connection: DSL, cablemodem, or FASTER! The speed of your connection is directly related to your ability to make money. It is of utmost importance. After all, if it takes you all night to download one casino's software, you'll only be able to play for the one bonus. However, if you can download 8 casinos with 8 new player bonuses, all the in the same timeframe, your potential winnings will be exponential!
I recommend having 2 computers dedicated to online gambling. One computer to be used specifically for downloading new software all day and night. The other computer specifically for playing the games. This computer should have dialup connect, while the first computer has the high speed connect. Use a removable HD which can be used on either computer.
Your objective is to go bonus hunting on every message board worth its... | | Read Entire Entry |
| Posted by: New Yorker at September 30, 2001, 12:46 am | | Topic: Advantage Play Forum: Winner Online |
The Canadian checks bounce because the Canadian banks are not part of the federal reserve system. The Canadian checks must be put in for collection for which banks charge a small 2 or 4 % fee. Bring the Canadian checks to a bank officer for collection. If you just deposit them at the teller window you are asking for trouble.
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| Posted by: HKGambler at September 29, 2001, 10:37 pm | | Topic: Advantage Play Forum: Winner Online |
Dave-
Since you've dealt with 800 casinos, how often did you receive Canadian checks. Had any bounce problem?
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| Posted by: Woody0 at September 29, 2001, 10:35 pm | | Topic: Advantage Play Forum: Winner Online |
Trader, winters are warm and wet on the West coast and warmer than Indiana. Anyway we usually spend a few months in the Southern states.
Our taxes are a killer with about a 50% marginal rate for Federal and Provincial combined. Our gaming tax rate is a beautiful 0%. Big lottery winners get all their money up front without tax but then are taxed on their investments.
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| Posted by: Trader at September 28, 2001, 4:43 pm | | Topic: Advantage Play Forum: Winner Online |
Woody, you do understand it correctly. If you want to move here to become a tax advisor you are welcome. We can always use another taxpayer to spread out the load.
Fortunately my state and local income tax total only 4 1/2%. Federal rates start at 15% and go as high as 39% plus a few complicated factors like the limiting of other deductions and exemptions if your income is high enough. Many other countries have higher overall tax burdens, but I am pretty sure the US leads the world in tax complexity.
In a specific hypothetical example in my state, if I were to finish the year with $50,000 in wins and $48,000 in losses, I would owe Federal tax on $2000 and State & Local tax on the full $50,000. Federal tax could come to $780(depending on my tax bracket) and State tax would be $2250. I would owe $3030 tax on a $2000 net win. Losing would be even worse. The situation will ary by state. I still would not move to Canada because of the winters, but I might want to learn the language, eh?... | | Read Entire Entry |
| Posted by: Woody0 at September 28, 2001, 2:42 pm | | Topic: Advantage Play Forum: Winner Online |
Trader, you do have an insane system for taxing gambling winnings. As I understand it there are some states where you can't write off losses, so you are taxed on your gross win and can end up with a net win but a loss after taxes!
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| Posted by: Dirk_Dangerous at September 28, 2001, 1:56 pm | | Topic: Advantage Play Forum: Winner Online |
I've lost $17,044 at arious online casinos this year. Actually, add another $400 to that figure. I lost that at Vegas Villa the other night.
Last year I lost over $10,576.
And when I do win, it's almost always a big problem getting paid, and if they do pay it takes forever to receive the money.
But what the hell, you can't take it with you
Dirk
[This message has been edited by Dirk_Dangerous (edited 09-28-2001).]
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| Posted by: MrWolf at September 28, 2001, 1:47 pm | | Topic: Advantage Play Forum: Winner Online |
Quote: Originally Posted by Trader:
If this seems complicated, that's because it is complicated. The non-US citizens reading this must think we have an insane tax system.
We do.
[This message has been edited by Trader (edited 09-28-2001).]
[This message has been edited by Trader (edited 09-28-2001).]
Yes, it certainly sounds that way Trader. Makes me realise how lucky I am that in the UK casino gambling winnings aren't taxable. It certainly cuts down on the paper work!
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| Posted by: Trader at September 28, 2001, 7:28 am | | Topic: Advantage Play Forum: Winner Online |
I want to say up front that I do not know all the details of Pete Rose's conviction for income tax evasion. Most of these cases are ery complex and while indictments are brought on many counts, only the easiest to prove are actually tried in court. Even more frequently plea bargains are reached where the suspect pleads guilty to a few counts and others are dropped.
One of the original charges against Pete Rose was that he arranged for a friend in a lower tax bracket claim his winnings at a race track and failed to report the proceeds as his own. Federal law requires you to report all your winnings as "other income" on line 21 of Form 1040. If you had losses as well (and what gambler does not?) they can only be taken as an itemized deduction up to the amount of your winnings on Schedule A. You cannot deduct more than the amount of your reported winnings even if you had a net loss. You are not permitted to report only a net win or fail to report any wins even if you had a net loss. You ... | | Read Entire Entry |
| Posted by: HKGambler at September 28, 2001, 2:24 am | | Topic: Advantage Play Forum: Winner Online |
800 Casinos? or 80?
For me, I couldn't find 80 casinos to be worry-free to deposit money in. Now, Dave dealt with 800, what a courage!
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| Posted by: Woody0 at September 27, 2001, 10:37 pm | | Topic: Advantage Play Forum: Winner Online |
I've been playing online for only 3 months. I'm well experienced as an advantage blackjack and ideo poker player. Frankly I've never found an easier way to make money, all you need is some skill and discipline.
Not to say that I haven't made errors by superficial analysis of some games, particularly the double bonus ideo poker game that crytologic provides.
I'm interested to see that Dave R. has collected 800 casinos since I'm around 50 and wondering if I've already got the best of the bunch, and can only expect my income to decline. My impression is that 30K a year is quite reasonable and that 40K is possible with a little effort.
[This message has been edited by Woody0 (edited 09-27-2001).]
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| Posted by: Factor X at September 27, 2001, 10:10 pm | | Topic: Advantage Play Forum: Winner Online |
I do not believe that one person could
make 40K per year by himself from on-line
casinos.
If that person lived in an infinite-time
universe - perhaps. There are just too
many hassles to work out with some of these
on-line casinos. The biggest hassles are
slow-payers and non-payers.
I am phasing out my on-line playing.
My experience has been that I spend
too much of my time trying
to retrieve my money from casinos.
Many of them have poor customer service
and do not wish to pay in a timely manner.
My latest experience with Casino On Net
has been my latest and possibly last
skirmish with these outfits. And I had
always listed CON as one of my
TOP 5.
Overall, the casinos that I have had the
best dealings with are Stanley Acropolis
and True Poker (poker only).
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| Posted by: jondo at September 27, 2001, 7:28 pm | | Topic: Advantage Play Forum: Winner Online |
He lost his ass betting, so no income to "not" report
This would only be true if Pete never won a bet. You must report "winnings", then you can deduct losses up to the amount of your winnings
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| Posted by: Mrracetrack at September 27, 2001, 6:25 pm | | Topic: Advantage Play Forum: Winner Online |
Pete Rose was convicted for failing to report income received ( cash ) from baseball card shows that he was featured at, doing autographs, photo shoots, ect. It was reported that he received around $10,000 a show.
He lost his ass betting, so no income to "not" report.
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| Posted by: Trader at September 27, 2001, 6:17 pm | | Topic: Advantage Play Forum: Winner Online |
For US taxes gambling winnings are reported as "other income". You don't have to say if it was online or in a land based casino. In my state online gambling is not illegal.
One of the problems is that you have to report all your winnings as income and then take any losses as an itemized deduction. My state does not allow itemized deductions so I have to pay state tax on a higher income than my federal income. For example if you have $60,000 in winnings and $20,000 in losses you pay federal tax on $40,000 but state tax on the full $60,000.
Even if gambling online in your state is illegal, it is probably a seldom prosecuted misdemeanor or even just an infraction, similar to a traffic ticket. Income tax evasion is a felony that most juristictions take ery seriously. If you win a significant amount and fail to report it the norm is prison time. Remember Pete Rose?
[This message has been edited by Trader (edited 09-29-2001).]
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| Posted by: scaven at September 27, 2001, 5:57 pm | | Topic: Advantage Play Forum: Winner Online |
I had a quick question about your paying taxes on winnings, I havent had the opportunity to pay any yet,.
but my question is this, being that it is illegal in MOST states to gamble online, how do you report your winnings, as online winnings or land based?
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| Posted by: Trader at September 27, 2001, 4:42 pm | | Topic: Advantage Play Forum: Winner Online |
I think the numbers you present are ery reasonable. I am not ery experienced at gambling and won well over $30,000 last year. It would have been $40,000 if Golden Palace had actually paid me. And yes, I did pay taxes on it. US tax laws are not ery favorable for gambling income.
One of the problems is that playing a lot of new and unproven casinos has its own risk above the odds of gambling. When the reliable casinos cut off your bonuses you will be left with only the unproven ones.
Another problem this year is that payments have become slower in many cases, especially the RTG casinos. Last year there were still long waits for your winnings, but at least the credit card deposit was returned promptly. Several RTG casinos(and not just the troubled Vegas Strip Group) are now routinely taking several weeks just to return your deposit. Even the group led by Vegas Casino Online has had payment delays lately. This means that you need a pretty large bankroll if you want to continue to play whil... | | Read Entire Entry |
| Posted by: Dave R at September 27, 2001, 2:59 pm | | Topic: Advantage Play Forum: Winner Online |
I'm curious as to how many players here have figured out a way to beat online casinos on a regular basis by repeatedly taking advantage of promos and bonuses?
Personally, I've signed up as a new player on over 800 casinos in the last 6 months alone. And on every major holiday, I find myself calling out from work to take advantage of every decent promo, as the profits far exceed anything I could ever make from my job.
I am convinced now more than ever, that if a player has self discipline and is NOT GREEDY, it is possible to make a living (40K or more per year) just by playing these silly games all day long. The FATBONUS forum is a testament to that.
I'd like to hear everyone's opinions on this.
Also, I'd like to repeat that everything I do is legal and above board. I simply follow these casinos own terms and conditions. Lately some casinos are becoming extremely strict. (Cowboy casino with 25x play is a good example). But I've found numerous other casinos that still offer ... | | Read Entire Entry |
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