No guest this week as we once again dip into out mail bag.
Show Notes
[00:00] Introduction
[00:35] Asking about casino conditions in online forums
[03:10] Disguise tips
[06:33] Changing address at the player’s club desk
[08:27] Is refusing to show ID illegal?
[10:05] Casino refusing to cash chips
[11:44] What technique beyond counting is the most valuable?
[13:23] Caesar’s reduction in Seven Stars benefits
[14:49] How many blackjack players are counting cards?
[16:51] Misidentified uncarded player creates incorrect win/loss
[20:15] What is the best way to get into sports betting?
[22:20] Learning to play video poker
[24:48] Happy hour blackjack special
[27:02] South Point Casino March promotions – Free Play with a Kicker
[27:35] http://BlackjackApprenticeship.com – card counting training site and advantage play community with software and tracking tools
[28:16] http://VideoPoker.com/gwae – Gold Membership offers correction on most games, free Pro Membership trial for GWAE listeners
[29:24] Video poker in unregulated markets
[32:54] Intermittent fasting
[34:54] W2G on a video blackjack game
[36:55] Building a bankroll through online gaming
[37:44] Hole-carding MSS
[40:44] 9/6 DDB paytable changed
[42:50] Volatility of games in video poker
[46:07] ADT and comps
[47:54] Getting mispaid on a side bet
[50:39] Is it cheating if a casino dealer mistakenly pays out a losing bet
[53:20] Recommended: Pieces of Her on Netflix, As Good as it Gets
Sponsored Links:
http://BlackjackApprenticeship.com
Recommended:
“Pieces of Her” http://Netflix.com/title/81015514
“As Good as it Gets” http://Netflix.com/title/1181488
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On one of your recent shows, a listener said he bet $600 and won $1200 and received a W2G and felt it was unfair to tax him on the whole amount since he only won $600, the other $600 was his original bet. I think Richard’s answer was that a professional gambler would only declare the winnings as income, and Bob pointed out that for recreational gambler it is a real penalty.
I agree with both of you and wanted to point out that if a recreational gambler does not itemize deductions on his federal income tax form, the W2G’s are grossly unfair.
For example, a person who received a W2G for say $2400 on video poker, but who lost at least that much throughout the year, would have to enter the information on his 1040. If he itemizes deductions, there is a line to enter gambling losses for the year up to the amount won. However, if he does not itemize because his other deductions do not exceed the standard deduction allowed, there is no place to offset the winnings shown on the W2G. Depending on what your tax bracket is, it will cost the taxpayer a significant amount.