How does bookmaking work?

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Expand view Topic review: How does bookmaking work?

Re: How does bookmaking work?

by Cheech » Tue Jan 05, 2016 5:10 pm

How did those poker sites make out? Ponzi schemes. I stay clear. And very smart to put on taxes if irs came. I would. all the best my friend.

Re: How does bookmaking work?

by Cheech » Tue Jan 05, 2016 5:06 pm

Stroccos wrote:
Cheech wrote:I had a bovids account for poker and props. I won on props two weeks in a row and they shut it off. Com men those offshore guys. Not bookies.
they may chase the good players. but I know locals who do that to . Allot of guys dont want the crazy prop bettors or the nut cases who light the board with parlays because they dont want the risk .

sucks they closed your account , i been with them a long time never had A issue

I agree a local will. I've cut guys or lowered limits. Especially on College total and 2nd and 1st halves. But a huge book like bovada who used to be bodog for those that don't know should be able to absorb my wins. But there so greedy they won't. They deal duel lines as well. 2.5 and 3 to me depending on my betting habits.

Re: How does bookmaking work?

by Cheech » Tue Jan 05, 2016 5:04 pm

Stroccos wrote:
Cheech wrote:Guess a I been lucky. No stiffs. Same person 20 years. Taught me. I play online. Not offshore. A check for gambling? No such a ting lol
very common i get checks when I ever win at the casino and from offshore books. I claim all my gambing on my taxes. The irs has come after me in the past so i keep account everything.

yeah many locals have moved online
I know they issue checks. It was a joke. I couldn't imagine getting a check. That's me.

Re: How does bookmaking work?

by Stroccos » Tue Jan 05, 2016 2:23 pm

FriendofHenry wrote:
Stroccos wrote:
FriendofHenry wrote:
Stroccos wrote:
Snakes wrote:I believe that unless you win more than 10 g's in a year, it's not necessary to declare them for tax purposes. I could be wrong, though.
you have to declare any winnings weather its 500 or 1 million. but you can write off your losses against your wins. if you sign the w2-g it gets automatically sent in the turbo tax site breaks it down

http://blog.turbotax.intuit.com/income- ... axed-8891/
How come none of the BMs I knew never issued a w2-g ;)
Lmao because your a mush u never cashed a ticket in your life hahaha
Me - a mush - Come on now. Fortunately I was never bet sports, only golf and poker. If you know anything about my "Friends" then you know why I never bet sports.
Back in the day on Tuesday nights, at least in my joint, the envelopes mostly went one way. They sure weren't headed in the direction of the squares ;-)
Yeah I agree , better to be running the gambling but I need some action to keep me sane

Re: How does bookmaking work?

by FriendofHenry » Tue Jan 05, 2016 1:22 pm

Stroccos wrote:
FriendofHenry wrote:
Stroccos wrote:
Snakes wrote:I believe that unless you win more than 10 g's in a year, it's not necessary to declare them for tax purposes. I could be wrong, though.
you have to declare any winnings weather its 500 or 1 million. but you can write off your losses against your wins. if you sign the w2-g it gets automatically sent in the turbo tax site breaks it down

http://blog.turbotax.intuit.com/income- ... axed-8891/
How come none of the BMs I knew never issued a w2-g ;)
Lmao because your a mush u never cashed a ticket in your life hahaha
Me - a mush - Come on now. Fortunately I was never bet sports, only golf and poker. If you know anything about my "Friends" then you know why I never bet sports.
Back in the day on Tuesday nights, at least in my joint, the envelopes mostly went one way. They sure weren't headed in the direction of the squares ;-)

Re: How does bookmaking work?

by Stroccos » Tue Jan 05, 2016 1:19 pm

FriendofHenry wrote:
Stroccos wrote:
Snakes wrote:I believe that unless you win more than 10 g's in a year, it's not necessary to declare them for tax purposes. I could be wrong, though.
you have to declare any winnings weather its 500 or 1 million. but you can write off your losses against your wins. if you sign the w2-g it gets automatically sent in the turbo tax site breaks it down

http://blog.turbotax.intuit.com/income- ... axed-8891/
How come none of the BMs I knew never issued a w2-g ;)
They don't issue you one , I voulantary disclose All offshore and wagers I make locally. I was came after by the irs. someone told the FBI about allot of gamblers , I was also present at a few raids . Since they couldn't bring a indictment they had the Irs stick a microscope up my ass .

Re: How does bookmaking work?

by Stroccos » Tue Jan 05, 2016 1:13 pm

FriendofHenry wrote:
Stroccos wrote:
Snakes wrote:I believe that unless you win more than 10 g's in a year, it's not necessary to declare them for tax purposes. I could be wrong, though.
you have to declare any winnings weather its 500 or 1 million. but you can write off your losses against your wins. if you sign the w2-g it gets automatically sent in the turbo tax site breaks it down

http://blog.turbotax.intuit.com/income- ... axed-8891/
How come none of the BMs I knew never issued a w2-g ;)
Lmao because your a mush u never cashed a ticket in your life hahaha

Re: How does bookmaking work?

by FriendofHenry » Tue Jan 05, 2016 10:32 am

Stroccos wrote:
Snakes wrote:I believe that unless you win more than 10 g's in a year, it's not necessary to declare them for tax purposes. I could be wrong, though.
you have to declare any winnings weather its 500 or 1 million. but you can write off your losses against your wins. if you sign the w2-g it gets automatically sent in the turbo tax site breaks it down

http://blog.turbotax.intuit.com/income- ... axed-8891/
How come none of the BMs I knew never issued a w2-g ;)

Re: How does bookmaking work?

by Stroccos » Tue Jan 05, 2016 10:10 am

Snakes wrote:I believe that unless you win more than 10 g's in a year, it's not necessary to declare them for tax purposes. I could be wrong, though.
you have to declare any winnings weather its 500 or 1 million. but you can write off your losses against your wins. if you sign the w2-g it gets automatically sent in the turbo tax site breaks it down

http://blog.turbotax.intuit.com/income- ... axed-8891/

Re: How does bookmaking work?

by Snakes » Mon Jan 04, 2016 9:52 pm

I believe that unless you win more than 10 g's in a year, it's not necessary to declare them for tax purposes. I could be wrong, though.

Re: How does bookmaking work?

by Snakes » Mon Jan 04, 2016 9:48 pm

I get one free withdrawal every thirty days with 5Dimes. I usually just get a Moneygram and since it's usually only a couple hundred dollars it's not a big deal. I have heard of guys having Moneygrams or Western Unions canceled because they withdrew too much money (like a couple thousand).

Re: How does bookmaking work?

by Stroccos » Mon Jan 04, 2016 7:28 pm

Cheech wrote:Agree risk wherever you bet. I'd rather see my guy in person than call and talk to "chad". Matter of preference. All the best. I enjoy your posts. I assumed you weren't in us.


Yeah I used to be A bookie. It just isnt worth for me at this point. to take a pinch now wouldnt be worth it . I know many locals but they dont give me the best lines. I bet allot of baseball, props and nba i just get better numbers online.

Re: How does bookmaking work?

by Stroccos » Mon Jan 04, 2016 7:16 pm

Cheech wrote:I had a bovids account for poker and props. I won on props two weeks in a row and they shut it off. Com men those offshore guys. Not bookies.
they may chase the good players. but I know locals who do that to . Allot of guys dont want the crazy prop bettors or the nut cases who light the board with parlays because they dont want the risk .

sucks they closed your account , i been with them a long time never had A issue

Re: How does bookmaking work?

by Stroccos » Mon Jan 04, 2016 7:12 pm

Cheech wrote:Guess a I been lucky. No stiffs. Same person 20 years. Taught me. I play online. Not offshore. A check for gambling? No such a ting lol
very common i get checks when I ever win at the casino and from offshore books. I claim all my gambing on my taxes. The irs has come after me in the past so i keep account everything.

yeah many locals have moved online

Re: How does bookmaking work?

by Cheech » Mon Jan 04, 2016 6:13 pm

Agree risk wherever you bet. I'd rather see my guy in person than call and talk to "chad". Matter of preference. All the best. I enjoy your posts. I assumed you weren't in us.

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