How does bookmaking work?
Moderator: Capos
Re: How does bookmaking work?
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
Sorry. Wrong Frank
Re: How does bookmaking work?
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.
Sorry. Wrong Frank
Re: How does bookmaking work?
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.
Sorry. Wrong Frank
Re: How does bookmaking work?
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.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
yeah many locals have moved online
"if he's such A sports wizard , whys he tending bar ?" Nicky Scarfo
Re: How does bookmaking work?
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 .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.
sucks they closed your account , i been with them a long time never had A issue
"if he's such A sports wizard , whys he tending bar ?" Nicky Scarfo
Re: How does bookmaking work?
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.
"if he's such A sports wizard , whys he tending bar ?" Nicky Scarfo
Re: How does bookmaking work?
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?
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?
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 downSnakes 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.
http://blog.turbotax.intuit.com/income- ... axed-8891/
"if he's such A sports wizard , whys he tending bar ?" Nicky Scarfo
- FriendofHenry
- Full Patched
- Posts: 1916
- Joined: Sat Oct 25, 2014 6:34 am
Re: How does bookmaking work?
How come none of the BMs I knew never issued a w2-gStroccos wrote: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 downSnakes 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.
http://blog.turbotax.intuit.com/income- ... axed-8891/
"Never walk in a room unless you know your way out" - Henry Zottola
Re: How does bookmaking work?
Lmao because your a mush u never cashed a ticket in your life hahahaFriendofHenry wrote:How come none of the BMs I knew never issued a w2-gStroccos wrote: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 downSnakes 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.
http://blog.turbotax.intuit.com/income- ... axed-8891/
"if he's such A sports wizard , whys he tending bar ?" Nicky Scarfo
Re: How does bookmaking work?
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 .FriendofHenry wrote:How come none of the BMs I knew never issued a w2-gStroccos wrote: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 downSnakes 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.
http://blog.turbotax.intuit.com/income- ... axed-8891/
"if he's such A sports wizard , whys he tending bar ?" Nicky Scarfo
- FriendofHenry
- Full Patched
- Posts: 1916
- Joined: Sat Oct 25, 2014 6:34 am
Re: How does bookmaking work?
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.Stroccos wrote:Lmao because your a mush u never cashed a ticket in your life hahahaFriendofHenry wrote:How come none of the BMs I knew never issued a w2-gStroccos wrote: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 downSnakes 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.
http://blog.turbotax.intuit.com/income- ... axed-8891/
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
"Never walk in a room unless you know your way out" - Henry Zottola
Re: How does bookmaking work?
Yeah I agree , better to be running the gambling but I need some action to keep me saneFriendofHenry wrote: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.Stroccos wrote:Lmao because your a mush u never cashed a ticket in your life hahahaFriendofHenry wrote:How come none of the BMs I knew never issued a w2-gStroccos wrote: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 downSnakes 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.
http://blog.turbotax.intuit.com/income- ... axed-8891/
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
"if he's such A sports wizard , whys he tending bar ?" Nicky Scarfo