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Moving to Vegas to become a full time pro handicapper

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Legend
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Posted: #5926
Quote Originally Posted by mbialowas:


No idea which "part", I am  not an expert on the subject that's why I'm going to be looking into this. My accountant, is who I  listen to when it comes to tax time. Not disagreeing on anything,  I will have to look into this.

So you pay the US tax man on income made in a foreign country?

Don't misunderstand my questions for being argumentative.  They are not intended that way.

I do think your tax advisor is extremely misinformed.

Making money overseas as an American is extremely common.  And certainly not illegal.  And you are required to declare your income, regardless of source country.  It is as simple as that.  I would be very surprised that anybody advising on tax issues would say anything differently - that's why I asked you for clarification.

Support your local animal shelter. I am on twitter.
 
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Posted: #5927
Will prob do the apps soon with the books only prob they have my SS # then. Nice now with them not knowing who I am when I bet
 
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Posted: #5928
Quote Originally Posted by Champ_Iz_Here:

Scal * scam same difference. Great break down on this game pal hahahaha


I didn't break down the game at all. Where did I break down the game?

I broke down his basis for playing the game which of course, made little sense.

I said the EXACT same thing about the Clippers bench while the game was tied. I didn't care whether he won or lost. Because the Clippers won, they therefore have a good bench? Lol.

I don't care if he sweeps today. His reasoning is not square (which would at least be 'public'-esque), it's ludicrous.

Over the long term, this type of 'capping' makes your picks somewhat if not completely random. And that means he will almost certainly not get over the break-even percentage.
 
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Posted: #5929
Quote Originally Posted by vanzack:

It sure seems like the calendar is the number one factor to what games he selects.

The combination of day and starting times is at the top of the decision tree.

"Pick a game at noon, pick a game at 2:30.  At 3pm see where I am for the day and pick games accordingly."


Exactly. 

When I'm in Vegas playing horses, sometimes my friend and I will decide to get down on a basketball game or a baseball game or whatever.  We will be picking a game that is at a time we want to watch it and which is on television.  This usually means only one or two games to pick from.  We recognize this is not a good play and is only done for "action."  In this regard it is completely different from when I was playing baseball on Matchbook and seriously trying to make a profit.  It's solely an action play for entertainment purposes.  If the bet is $100, my expected loss is a few dollars and we are happy to pay the surcharge as a cost of entertainment. Does this sound like a "pro" to you?

CG plays only big conference stuff and seems always to be some games early on the card to "fill his time."  And then hopes to win so he can bet more.  This is not a "pro" mentality.

CG: You have one thing going for you - you pick games at a high percentage!  If you apply focus and discipline, etc. you have a shot at being a pro.  But you have to think "pro" to win like a "pro"!  I understand you are learning on the job and you'll be better at this in a few months... but first you have to last a few months!

 
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Posted: #5930
Quote Originally Posted by scalabrine:


I wrote that I expect a 1-1 day between these two bets. Whether you win early or late is irrelevant.

This is actually the first time in several days you will not be in a hole to start the day.
What you "expect" and what actually happens are usually not the same thing.  So the kid is in good shape this afternoon.
 
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Posted: #5931
Quote Originally Posted by Laroja:


You need a new hobby.

Everybody has their own interpretation of it. 
 
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Posted: #5932
Quote Originally Posted by scalabrine:

CG, 

I don't know what you are doing with your time but the capping of these games is horrendous. This has been a consistent theme lately. And I'm the only guy here picking them apart. 

You are picking the Wolverines because of:

1) Pride
2) Illini shoot 41% 

Let's look at #1. The Wolverines were such a proud team this year they went and put their home fans through the WORST LOSS in the history of their program to a school you should know quite well: The New Jersey Institute of Technology. Yes, a tech school beat them at home! They in some ways are like their football program that suffered through their worst season ever.

I don't see pride as their alleged strong suit.

Let's look at #2.

Yes, the Illini shoot 41%. 41.8% in fact.

But guess what Michigan shoots? 42%!

So how are either of these things a strong point to back Mich?

The 4 points is nice but your reasoning is outrageously flawed.


UNC? They are a TOUGH OUT after getting swept by Duke and desperately want a rematch. And you basically get a little over a ML to knock them off.

I see a 1-1 day at best with the Erosion of the Bankroll Via Vig continuing. 




Good call you square mush. That's why you suck at capping, CG saw this as a sharp play,  too bad you didn't 
 
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Posted: #5933
Guys, which is the best livescore app on Android for following us sports including college so I can CG stalk. I've got yahoo sports installed and it's decent but what is your favorite?
 
Captain
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Posted: #5934
Quote Originally Posted by Ballerholic:

How do winners pay vig?



It is true.  ONLY WINNERS pay the vigorish.  Losers NEVER do.  
Here is the simple explanation, taken from another site:

You make a bet with a friend for $110, who does NOT charge you the vig.  You win, you win $110.

You make a bet with a standard bookie, also for $110.  You win, you win $100.

I will add this as an example:  I am a BOOKIE at a bar.  If you both handed me $110 before the game started on opposite teams, then I would have $220 sitting on the table.  After the game, out of the $220, I would give the winner $210.

Now, let's say I am being nice for ONE bet, after taking so much vigorish from the winner.  I say on the next $110 bet, I will take NO JUICE.  So the losing ticket loses his $110 as usual (with or without juice), but the winner now gets back the full $110 he risked.    
 
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Posted: #5935
Quote Originally Posted by vanzack:

Don't misunderstand my questions for being argumentative.  They are not intended that way.

I do think your tax advisor is extremely misinformed.

Making money overseas as an American is extremely common.  And certainly not illegal.  And you are required to declare your income, regardless of source country.  It is as simple as that.  I would be very surprised that anybody advising on tax issues would say anything differently - that's why I asked you for clarification.


I dont think it had to do with foreign income, but more about me not having an actual foreign address.
 
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Posted: #5936
Quote Originally Posted by scalabrine:



I didn't break down the game at all. Where did I break down the game?

I broke down his basis for playing the game which of course, made little sense.

I said the EXACT same thing about the Clippers bench while the game was tied. I didn't care whether he won or lost. Because the Clippers won, they therefore have a good bench? Lol.

I don't care if he sweeps today. His reasoning is not square (which would at least be 'public'-esque), it's ludicrous.

Over the long term, this type of 'capping' makes your picks somewhat if not completely random. And that means he will almost certainly not get over the break-even percentage.

And his complete basis for picking this game was not posted, so once again you are here wasting space.
 
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Posted: #5937
Quote Originally Posted by BWS77:


And his complete basis for picking this game was not posted, so once again you are here wasting space.
 


 
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Posted: #5938
I've said before, it's hard for a zebra to change his stripes. Makes me wonder where CG's 30k came from...maybe Mommy and Daddy? Did he really save all that from working? Did he really make that much from gambling? Why does his family seem so suffocating and clinging...do they coddle him and give him money? Did CG have so much more discipline and better money management when he was an "amateur"? Either way it doesn't matter...he is far from a "pro" and when he has to go back home he's so spoiled he can always get another hand-out from his Mommy and Daddy
 
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Posted: #5939
Quote Originally Posted by wizardofroz:


It is true.  ONLY WINNERS pay the vigorish.  Losers NEVER do.  
Here is the simple explanation, taken from another site:

You make a bet with a friend for $110, who does NOT charge you the vig.  You win, you win $110.

You make a bet with a standard bookie, also for $110.  You win, you win $100.

I will add this as an example:  I am a BOOKIE at a bar.  If you both handed me $110 before the game started on opposite teams, then I would have $220 sitting on the table.  After the game, out of the $220, I would give the winner $210.

Now, let's say I am being nice for ONE bet, after taking so much vigorish from the winner.  I say on the next $110 bet, I will take NO JUICE.  So the losing ticket loses his $110 as usual (with or without juice), but the winner now gets back the full $110 he risked.    

Oh boy semantics, every bet is won there are no losing tickets make the same argument without the losing ticket.Yes in theory ROI is obviously 5% on cashed plays

Van violation is Rico Act if you establish a residence for the purpose of evading an existing US law you are continuing a criminal enterprise that is why cash into the country from outside is issue with offshore books. If you do not maintain occupancy for a certain period of time you are not a resident.If you are not a resident in residency then you are evading US law by being a US resident and maintaining a residence outside the US for the express purpose of evading an existing US law. Anyway I believe it's some such nonsense.Its all about the money. Bitcoin solves this issue completely. 

Part of the reason also why many guys who gamble and win have a lot of associates.
 
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Posted: #5940
Not to belabor my earlier point about WINNERS only paying the vig, but 2 buddies at a bar lay $100 on a bet with no middle man (bookie), then the winner collects $200 after the game is over, and the loser only loses his $100 as usual.

Now involve a bookie at 10% in the SAME scenario.  When the game is over, he asks the bartender to make change (coins and all), and gives the winner his $100 back, plus $90.91, for a total of $190.91, while the bookie pockets the difference of $9.09.

The loser always loses the $100, with or without a bookie being present.   
 
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Posted: #5941
Quote Originally Posted by Lowvig:

I've said before, it's hard for a zebra to change his stripes. Makes me wonder where CG's 30k came from...maybe Mommy and Daddy? Did he really save all that from working? Did he really make that much from gambling? Why does his family seem so suffocating and clinging...do they coddle him and give him money? Did CG have so much more discipline and better money management when he was an "amateur"? Either way it doesn't matter...he is far from a "pro" and when he has to go back home he's so spoiled he can always get another hand-out from his Mommy and Daddy

Unsolved mysteries. 
 
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Posted: #5942
Quote Originally Posted by Bluefin:


Oh boy semantics, every bet is won there are no losing tickets make the same argument without the losing ticket.Yes in theory ROI is obviously 5% on cashed plays

Van violation is Rico Act if you establish a residence for the purpose of evading an existing US law you are continuing a criminal enterprise that is why cash into the country from outside is issue with offshore books. If you do not maintain occupancy for a certain period of time you are not a resident.If you are not a resident in residency then you are evading US law by being a US resident and maintaining a residence outside the US for the express purpose of evading an existing US law. Anyway I believe it's some such nonsense.Its all about the money. Bitcoin solves this issue completely. 

Part of the reason also why many guys who gamble and win have a lot of associates.

 That makes NO sense.  It has NOTHING to do with semantics, being that losers NEVER pay juice, regardless how high the juice may be.  
 
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Posted: #5943
Quote Originally Posted by wizardofroz:


 That makes NO sense.  It has NOTHING to do with semantics, being that losers NEVER pay juice, regardless how high the juice may be.  

Dude just ignore Bluefin, he's either a troll or a retard. 
 
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Posted: #5944
Anyone care to do the numbers on College Gambler's record when taking underdogs?  Even with the Sacramento loss versus Atlanta (amount of bet notwithstanding), his PERCENTAGE of underdog winners seems to be rather high.
 
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Posted: #5945
what's MOST amazing in the last 10 pages is how many disputes there are over who pays the juice, and how much they pay.  

all this from bettors who supposedly should know all this early on.

amazing--and sad.
 
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Posted: #5946
Quote Originally Posted by wizardofroz:

Not to belabor my earlier point about WINNERS only paying the vig, but 2 buddies at a bar lay $100 on a bet with no middle man (bookie), then the winner collects $200 after the game is over, and the loser only loses his $100 as usual.

Now involve a bookie at 10% in the SAME scenario.  When the game is over, he asks the bartender to make change (coins and all), and gives the winner his $100 back, plus $90.91, for a total of $190.91, while the bookie pockets the difference of $9.09.

The loser always loses the $100, with or without a bookie being present.   


He loses 100, but   he lost 91 on the bet and 9 to the juice.  It makes no difference to his bankroll, but juice is paid on every wager that isn't a push.
 
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Posted: #5947
good call on Mich, but you're trying to be too sharp by taking Louisville..carolina wins easy here man and you lose the juice. Be more selective
 
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Posted: #5948
Lets presume I'm a book if I have two guys and the bet opposite sides The perspective vig is 10%. One guy loses he give me 110. He did not give me a dime to start. The other guy wins I give him 100 he also did not give me a dime. My 10% comes from the guy who lost the wager.
 
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Posted: #5949
Quote Originally Posted by Bermax:

Guys, which is the best livescore app on Android for following us sports including college so I can CG stalk. I've got yahoo sports installed and it's decent but what is your favorite?

ESPN app is awful, I don't know what's better than the yahoo app. I have it but don't really use it- I mainly just use ESPN on the web.  Could try cbssports app I guess.


 
 
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Posted: #5950
I think the widespread problems understanding the concept of who pays the vig is inherit in the US odds system, where you are expressing the amount you have to stake in order to win a set amount, 100 units. It's not transparent and it's not very easy to keep your head straight when you're primarily always adjusting the stake in your mind. -110 = 1.91 in decimal odds and -105 = 1.95 (rounded some). I then immediately see that if I place a wager of 1 unit where the juice is lower and win, my net profit is 0.95 units. At the higher juice my net profit is only 0.91 units. When the bet loses the juice is (as thoroughly exhausted in the thread by now) irrelevant, 1 unit was the bet and that's of course the loss regardless of juice. Very easy to see using decimal, you should try it. It's also spreadsheet friendly since that's the normal way of doing math and expressing numbers. In school you learned that 6/4 = 1.25, not -400, right?
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