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Make a Living Off of Sports Investing?

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Posts: 53

BigShotBill

Veteran

Joined: Nov, 2008

Posts: 1110

Posted: Aug. 19, 2009 - 3:03 PM ET #26

Quote Originally Posted by psic_sports:

Big shot bill and joe money....take it from my mistakes that cost me a 90k bankroll to the IRS......I would take a check as a LAST option. Doing 1000 via western union or moneygram once a week for 4 weeks would be better.

Kong said it best...if you got to Bet jamaica or the greek and get the debit card....it comes to you without your name on it. When you get it you must submit a copy of your ID and proof of address to the issuer but that is strictly an anti-terrorism mandatory move.

After you get the card......I've stood in front of the ATM and done 10 straight transactions to get out 5 grand.   The card has no limit other than the ATM's that have about a 500 per transaction limit.

If youre going to take checks keep them to 1,499 or less. You want to make 100% sure that the bank doesn't fill out a C.T.R.

Also, try to use sportsbooks that give checks drawn on American Banks not Costa Rican.

Hope this helps

Thanks PSIC. This has been helpful. I still have a couple of questions though. Here goes:

1. What is a C.T.R?

2. How does Western Union or Moneygram work?

GamblrzAnonyms

Prospect

Joined: Feb, 2008

Posts: 299

Posted: Aug. 19, 2009 - 10:35 PM ET #27

hey psic would a creditwagering debit card be good to have or should i just use western union wit them... they said the card is from a bank in canada... i think

Stake24

Prospect

Joined: Apr, 2007

Posts: 346

Posted: Aug. 20, 2009 - 12:36 PM ET #28

I used his service and he didnt teach or help me just started sending picks which were not very good. He also double charged me and never reimbursed me.

KongKiller

Veteran

Joined: Dec, 2007

Posts: 2628

Posted: Aug. 20, 2009 - 3:48 PM ET #29

Quote Originally Posted by Stake24:

I used his service and he didnt teach or help me just started sending picks which were not very good. He also double charged me and never reimbursed me.

I've known Tod for years. I know his character really well, he would never do that to anybody. This is either a misunderstanding or you are full of shit.

slwholesales

Prospect

Joined: Sep, 2004

Posts: 91

Posted: Aug. 20, 2009 - 7:35 PM ET #30

Hey KongKiller,

I just looked over thegreek's website and I am not seeing an option for debit card withdrawals?

Could you point me in the right direction please? I would like to know all the details before I sign up.

On betjamaica, would I want to do the cash transfer card or the pre-paid cash card?

Thanks!

GamblrzAnonyms

Prospect

Joined: Feb, 2008

Posts: 299

Posted: Aug. 22, 2009 - 3:18 AM ET #31

Quote Originally Posted by jv040:

Tod sells a e-book for a reasonable price and a life time of e-mail picks comes with it. I think you should check it out if your intrested it's worth the money. www.ssbwins.com

is this the same thing as his platinumsportsinvesting.com site? is it worth it to get both or ur good gettin jus 1?

GamblrzAnonyms

Prospect

Joined: Feb, 2008

Posts: 299

Posted: Aug. 22, 2009 - 3:19 AM ET #32

also is there anyway to pay taxes on ur profits so then u can use the money witout worry about getting caught?

jv040

Banned

Joined: Jan, 2009

Posts: 1479

Posted: Aug. 22, 2009 - 8:19 AM ET #33

Quote Originally Posted by GamblrzAnonyms:

also is there anyway to pay taxes on ur profits so then u can use the money witout worry about getting caught?

follow tods guidelines and you won't have to worry about getting caught.

jv040

Banned

Joined: Jan, 2009

Posts: 1479

Posted: Aug. 22, 2009 - 8:31 AM ET #34

Quote Originally Posted by GamblrzAnonyms:

is this the same thing as his platinumsportsinvesting.com site? is it worth it to get both or ur good gettin jus 1?

so far I just got his e-book. I think I might try his other service too but i'm still thinking about it. no matter how many systems I pick up on the internet that are profitable it seems like it's never enough. this is why i'm thinking about getting his other service.

SRTZEE

Prospect

Joined: Oct, 2008

Posts: 281

Posted: Aug. 22, 2009 - 9:51 AM ET #35

Is it the same e-book as bookie buster? Or is it actually useful?

jv040

Banned

Joined: Jan, 2009

Posts: 1479

Posted: Aug. 22, 2009 - 11:15 AM ET #36

I think any info that's picked up in a e-book that you didn't know of previosly can be useful be useful.

ApacheM

All-Star

Joined: Apr, 2008

Posts: 14473

Posted: Aug. 22, 2009 - 11:58 AM ET #37

Quote Originally Posted by JoeMoney1440:

Just wanted to get some input in the long term of this profession. So lets say we could pull in a hefty $50,000+ a year in sports investing. Should we be worried about the feds catching up to us? Would it wise to claim some of this money or no? How would you go about purchasing things?

I think it would look fishy driving around a $100,000 Porsche, working a day job, making $25k....

Any inputs?

I was a Book many years ago. An ole Book

told me, "Eat it, Drink it, Drive it, or Wear it." and pay cash.

GamblrzAnonyms

Prospect

Joined: Feb, 2008

Posts: 299

Posted: Aug. 22, 2009 - 1:30 PM ET #38

Quote Originally Posted by jv040:

ok thanks but wuts the ebook about is it a system or how to manage ur bankroll, or jus tips? jus tryin to get more info b4 i decide to buy it or not

chips1031

Prospect

Joined: May, 2007

Posts: 122

Posted: Aug. 26, 2009 - 3:33 PM ET #39

so you guys think I can go and buy a for 80 grand in cash and it's ok please giving and answer

jerblack

Prospect

Joined: Aug, 2009

Posts: 83

Posted: Aug. 26, 2009 - 5:55 PM ET #40

does betjamica and the greek offer canadian dollars for the debit card?

jv040

Banned

Joined: Jan, 2009

Posts: 1479

Posted: Aug. 27, 2009 - 7:51 PM ET #41

Quote Originally Posted by chips1031:

so you guys think I can go and buy a for 80 grand in cash and it's ok please giving and answer

I think it's a crazy idea to buy anything for 80 grand in cash. but anything is possible I guess.

bigcountry26

Prospect

Joined: Nov, 2008

Posts: 101

Posted: Aug. 27, 2009 - 11:04 PM ET #42

who on here post todds picks

bigcountry26

Prospect

Joined: Nov, 2008

Posts: 101

Posted: Aug. 27, 2009 - 11:08 PM ET #43

just want an example of one of his plays

jerm73

Banned

Joined: Oct, 2008

Posts: 86

Posted: Aug. 29, 2009 - 12:39 PM ET #44

If you guys are not aware Oddsmaker offers a debit card, I have one on the way.

catmur9

Rookie

Joined: May, 2008

Posts: 670

Posted: Aug. 29, 2009 - 11:08 PM ET #45

You're all missing something here. You're trying to beat taxes and the books at the same time? That is crazy. When you bring in 100k+ from gambling you should be happy you are in that league. After itemizing deductions, that 100k should be around 60k. If you own a home you get all those deductions too. Add in health insurance and the medical deduction and now your down in the 40k range. I get to deduct cable, internet, office etc. All those are a business expense. For a 100k gross income you will end up paying 12k fica and 2.5k federal. Is that so bad for 100k? It is better to be somewhat honest instead of losing everything you worked for.

Add in if you do it in Nevada, you will never pay for a dinner, drink, show, room etc. Points are a wonderful thing. They add at least another 10k in value.

jv040

Banned

Joined: Jan, 2009

Posts: 1479

Posted: Aug. 30, 2009 - 7:12 AM ET #46

Quote Originally Posted by bigcountry26:

who on here post todds picks

marlonb does. it's under psic thread.

jv040

Banned

Joined: Jan, 2009

Posts: 1479

Posted: Aug. 30, 2009 - 9:16 AM ET #47

Quote Originally Posted by catmur9:

Add in if you do it in Nevada, you will never pay for a dinner, drink, show, room etc. Points are a wonderful thing. They add at least another 10k in value.

I think when people get into sports betting and start making money enough to where they can withdraw and live off it. they shouldn't have to claim it as taxes. I see paing taxes as a problem first of all how are people suppose to acount for everything that they put into the account before that. or everything they lost through gambling other than sports or even including sports. for me personally in my life time I probaly lost over 30 grand my self if not more in gambling funds and this is the firstr year that I'm actually trying to rebuild for profit and I certanly woyuld not even want to claim taxes on everything I lost plus everything I put in when I do start to profit. I wanted to be a profesional gambler even before I was eigfhteen.

MontanaMax

Prospect

Joined: Nov, 2008

Posts: 473

Posted: Aug. 30, 2009 - 2:15 PM ET #48

Quote Originally Posted by catmur9:

Add in if you do it in Nevada, you will never pay for a dinner, drink, show, room etc. Points are a wonderful thing. They add at least another 10k in value.

Whoa... Whoa... Whoa... Not with the Bamster in office. He's coming for all our taxes if you make any money at all. Give it a few years and see. I'm exaggerating but you get my drift unless you voted for him and seek economic justice too. Being a professional sports investor, you can hide your winnings in so many ways and live just fine with no paper trail as long as you don't blow your load living wise and catch the IRS's attention. I am with JV040 on this one. Though its noble of you to say about being an astute citizen by doing your so called patriotic duty ( like Joe Bden said "paiyng your fair share") and having the government take your money and give it to somebody else just so they can vote the scumbag politicians back in office so they can take even more of your money to give to them in the form of government goodie programs to keep people wanting more. Just like drug dealers and addicts.

I say fuck that.......... This country was built on risk. I have no problems paying taxes to a just and correct government but for these scumbags..... I think I'll honor Ted Kennedy and have a drink.......

Look it up the income tax act passed in 1913 or so was suppose to be temporary. Hahaha..... my ass

Quote Originally Posted by catmur9:

Add in if you do it in Nevada, you will never pay for a dinner, drink, show, room etc. Points are a wonderful thing. They add at least another 10k in value.

badhank69

Prospect

Joined: Dec, 2007

Posts: 89

Posted: Aug. 30, 2009 - 2:55 PM ET #49

well said motanamax

catmur9

Rookie

Joined: May, 2008

Posts: 670

Posted: Aug. 31, 2009 - 7:06 AM ET #50

Quote Originally Posted by MontanaMax:

Whoa... Whoa... Whoa... Not with the Bamster in office. He's coming for all our taxes if you make any money at all. Give it a few years and see. I'm exaggerating but you get my drift unless you voted for him and seek economic justice too. Being a professional sports investor, you can hide your winnings in so many ways and live just fine with no paper trail as long as you don't blow your load living wise and catch the IRS's attention. I am with JV040 on this one. Though its noble of you to say about being an astute citizen by doing your so called patriotic duty ( like Joe Bden said "paiyng your fair share") and having the government take your money and give it to somebody else just so they can vote the scumbag politicians back in office so they can take even more of your money to give to them in the form of government goodie programs to keep people wanting more. Just like drug dealers and addicts.

I say fuck that.......... This country was built on risk. I have no problems paying taxes to a just and correct government but for these scumbags..... I think I'll honor Ted Kennedy and have a drink.......

Look it up the income tax act passed in 1913 or so was suppose to be temporary. Hahaha..... my ass

I basically agree with you MM. Every person and situation is different. That is what works for us. When I say us, my wife is a positive expectation VP player. We don't have a choice. I might not agree with the principals of taxation either but, in a twisted way, the more a person pays, the more that person makes. At least we will both be collecting SS.

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