The Adventures of MDawg II
February 22nd, 2022 at 2:56:03 PM
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Quote: MDawgWindy. As. Heck. In Vegas right now.
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It was 86 degrees here today as I laid by the pool. Maybe a 10 mph breeze that felt very nice. I did have to heat the pool because the water was in the 70's which is too cold for an old guy like me.
At my age, a "Life In Prison" sentence is not much of a deterrent.
February 22nd, 2022 at 4:56:48 PM
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Last edited by: OnceDear on Feb 23, 2022
February 22nd, 2022 at 5:11:55 PM
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Quote: RealdogHey guys, The real Boz here.
Get a life, Boz.
Good Lord, retired people are supposed to be living the life...at least A life.
February 22nd, 2022 at 5:19:12 PM
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Quote: coachbellyQuote: RealdogHey guys, The real Boz here.
Get a life, Boz.
Good Lord, retired people are supposed to be living the least A life.
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Last edited by: OnceDear on Feb 23, 2022
February 22nd, 2022 at 5:21:02 PM
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Quote: Realdog[MESSAGE REMOVED BY MOD (OD)]
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Welcome back (short lived as it may be)! I have to tell you, I’ve been claiming I’m beating the new online sports books (now up over $10k!) and if someone doesn’t want to believe me, I don’t care! No way I’m showing win loss statements to anyone! You can either believe the big Dawg or not believe him. I’ve stopped caring as much as I used to about the veracity of claims as long as I don’t make personal decisions based on them. Life is too short. If you don’t enjoy his thread periodically make a new sock to state your disbelief, but don’t let his claims bother you! It’s not worth it!
Will you at least admit MDawg writes well and does open up a world most of us will never see, whether he wins or loses?
Last edited by: OnceDear on Feb 23, 2022
February 22nd, 2022 at 5:26:04 PM
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Last edited by: OnceDear on Feb 23, 2022
February 22nd, 2022 at 5:29:17 PM
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Quote: Realdog[MESSAGE REMOVED BY MOD (OD)]
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Take the Dawg up on his challenge. Do you need me to stake you?
Last edited by: OnceDear on Feb 23, 2022
February 22nd, 2022 at 5:34:20 PM
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Quote: coachbellyQuote: Realdog[MESSAGE REMOVED BY MOD (OD)]
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Take the Dawg up on his challenge. Do you need me to stake you?
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February 22nd, 2022 at 6:00:08 PM
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Quote: SOOPOOQuote: Realdog[MESSAGE REMOVED BY MOD (OD)]
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Welcome back (short lived as it may be)! I have to tell you, I’ve been claiming I’m beating the new online sports books (now up over $10k!) and if someone doesn’t want to believe me, I don’t care! No way I’m showing win loss statements to anyone! You can either believe the big Dawg or not believe him. I’ve stopped caring as much as I used to about the veracity of claims as long as I don’t make personal decisions based on them. Life is too short. If you don’t enjoy his thread periodically make a new sock to state your disbelief, but don’t let his claims bother you! It’s not worth it!
Will you at least admit MDawg writes well and does open up a world most of us will never see, whether he wins or loses?
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Messages from banned members: Do not quote anything, neither public nor private, a banned member has said. If we ban somebody it means we don't want to hear from them any longer. (Added 6/9/2016)
Last edited by: OnceDear on Feb 23, 2022
February 22nd, 2022 at 8:00:59 PM
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Day 47 play.
DD Blackjack. 300 - 12000.
A little resistance at times, but then if a little resistance translates to over ten large ahead - BRING ON THE RESISTANCE!
+13200
Note: Lately, for security reasons, session reports are not necessarily presented in real time corresponding directly to the day played.
I'm willing to present a side Challenge. If anyone doubts that any one, just any one of the Session reports I present during this trip is not entirely accurate, throw down a red flag! Put up a mere ten grand in cash, let's work out how to verify the Session to your satisfaction using the Wizard as the judge, and winner takes the twenty thousand.
I'll contribute five hundred from my end for the Wizard's time if the Challenger will do the same, so that's $19,000. to the winner of this side Challenge.
This Side Challenge remains good for the duration of this particular Vegas trip.
DD Blackjack. 300 - 12000.
A little resistance at times, but then if a little resistance translates to over ten large ahead - BRING ON THE RESISTANCE!
+13200
Note: Lately, for security reasons, session reports are not necessarily presented in real time corresponding directly to the day played.
I'm willing to present a side Challenge. If anyone doubts that any one, just any one of the Session reports I present during this trip is not entirely accurate, throw down a red flag! Put up a mere ten grand in cash, let's work out how to verify the Session to your satisfaction using the Wizard as the judge, and winner takes the twenty thousand.
I'll contribute five hundred from my end for the Wizard's time if the Challenger will do the same, so that's $19,000. to the winner of this side Challenge.
This Side Challenge remains good for the duration of this particular Vegas trip.
I tell you it’s wonderful to be here, man. I don’t give a damn who wins or loses. It’s just wonderful to be here with you people.
https://wizardofvegas.com/forum/gambling/betting-systems/33908-the-adventures-of-mdawg/
February 23rd, 2022 at 9:02:07 AM
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When we have friends visit us and we get them rooms, I refer to them as out of town guests. That's right, people from out of Vegas are out of towners to me now!
Sometimes they end up in larger suites than we are in, not intentionally, just sometimes the casino says that's all we have available in suites at the moment. On some recent sessions the pit bosses have clocked me at 5000 average bets. When playing at that level, most everything is available free.
Sometimes they end up in larger suites than we are in, not intentionally, just sometimes the casino says that's all we have available in suites at the moment. On some recent sessions the pit bosses have clocked me at 5000 average bets. When playing at that level, most everything is available free.
I tell you it’s wonderful to be here, man. I don’t give a damn who wins or loses. It’s just wonderful to be here with you people.
https://wizardofvegas.com/forum/gambling/betting-systems/33908-the-adventures-of-mdawg/
February 23rd, 2022 at 10:07:32 AM
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The Amazing Johnathan is dead at 63. All that crystal methamphetamine and the bad heart finally caught up with him.
The Amazing Johnathan, Las Vegas Stand Up Comedian and Magician, Dies at 63
Saw his show probably a dozen times and knew him personally.
R.I.P.
It wasn't really the type of show that most would watch repeatedly, as it didn't vary much if at all, but we liked it and then he always gave us free tickets, including during periods when I wasn't playing in Vegas at all and had no comps coming from any casinos.
The Amazing Johnathan, Las Vegas Stand Up Comedian and Magician, Dies at 63
Saw his show probably a dozen times and knew him personally.
R.I.P.
It wasn't really the type of show that most would watch repeatedly, as it didn't vary much if at all, but we liked it and then he always gave us free tickets, including during periods when I wasn't playing in Vegas at all and had no comps coming from any casinos.
I tell you it’s wonderful to be here, man. I don’t give a damn who wins or loses. It’s just wonderful to be here with you people.
https://wizardofvegas.com/forum/gambling/betting-systems/33908-the-adventures-of-mdawg/
February 23rd, 2022 at 12:00:43 PM
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R.I.P.
I went to a show maybe twenty years ago. I didn't enjoy most of it but the five or six guys I went with loved it. When they came back to Vegas the next year, they all went again.
I went to a show maybe twenty years ago. I didn't enjoy most of it but the five or six guys I went with loved it. When they came back to Vegas the next year, they all went again.
The older I get, the better I recall things that never happened
February 23rd, 2022 at 1:50:45 PM
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Yes, see, for some (I was one of them) couldn't get enough of his zany pseudo magic antics.
One "trick" he used to perform was asking a member of the audience for a twenty dollar bill, which he would take commenting on how the trick worked better with a hundred. Then he would tear it up, and from behind a white cloth would say that he was performing magic, to make the bill reassemble, while we the audience would hear the sound of scotch tape being unrolled.
"Sometimes, magic sounds a lot like tape" he would say.
Eventually, he'd lower the cloth to reveal an origami swan made out of the bill.
I'd ask him if the audience member who supplied the bill would complain and ask for an intact bill back, and he said yes, sometimes, and then we'd just give him the twenty.
One "trick" he used to perform was asking a member of the audience for a twenty dollar bill, which he would take commenting on how the trick worked better with a hundred. Then he would tear it up, and from behind a white cloth would say that he was performing magic, to make the bill reassemble, while we the audience would hear the sound of scotch tape being unrolled.
"Sometimes, magic sounds a lot like tape" he would say.
Eventually, he'd lower the cloth to reveal an origami swan made out of the bill.
I'd ask him if the audience member who supplied the bill would complain and ask for an intact bill back, and he said yes, sometimes, and then we'd just give him the twenty.
I tell you it’s wonderful to be here, man. I don’t give a damn who wins or loses. It’s just wonderful to be here with you people.
https://wizardofvegas.com/forum/gambling/betting-systems/33908-the-adventures-of-mdawg/
February 23rd, 2022 at 1:53:06 PM
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Snowing in Vegas!
I tell you it’s wonderful to be here, man. I don’t give a damn who wins or loses. It’s just wonderful to be here with you people.
https://wizardofvegas.com/forum/gambling/betting-systems/33908-the-adventures-of-mdawg/
February 24th, 2022 at 11:39:41 AM
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Pretty busy in Vegas actually, some of these Strip hotels are to capacity even before the weekend. I'm thinking mostly convention visitors though.
I tell you it’s wonderful to be here, man. I don’t give a damn who wins or loses. It’s just wonderful to be here with you people.
https://wizardofvegas.com/forum/gambling/betting-systems/33908-the-adventures-of-mdawg/
February 24th, 2022 at 12:08:23 PM
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Forum members have read your postings. We have seen the flashy wealth, i.e., chips, currency, jewelry, accommodations, comps, etc., so what is the goal or objective here? What's the "dream"? Why should we care? Is there a "kicker" or message? If so, what is it?
The posts regarding your play are incomplete.
What is your buy-in per each session?
Do you re-buy during any given session? If so, how many times and how much?
Do you set a win/goal amount as a percentage of the buy-in?
How about playing at a "regular" table with a $2,000 buy-in and seeing if you can win as regularly as you seem to do at the "whale" table with no re-buys? I personally believe that any savvy player with basically unlimited funds could mirror your posted results.
One other thing, with these "tax-free" winnings, do any charities benefit?
tuttigym
The posts regarding your play are incomplete.
What is your buy-in per each session?
Do you re-buy during any given session? If so, how many times and how much?
Do you set a win/goal amount as a percentage of the buy-in?
How about playing at a "regular" table with a $2,000 buy-in and seeing if you can win as regularly as you seem to do at the "whale" table with no re-buys? I personally believe that any savvy player with basically unlimited funds could mirror your posted results.
One other thing, with these "tax-free" winnings, do any charities benefit?
tuttigym
February 24th, 2022 at 12:18:26 PM
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Quote: tuttigym
One other thing, with these "tax-free" winnings, do any charities benefit?
tuttigym
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Tax free winnings? Why would you say that?
MDawg is a honest guy and declares his winnings voluntarily and pays his taxes on them..... Presumably.
Psalm 25:16
Turn to me and be gracious to me, for I am lonely and afflicted.
Proverbs 18:2
A fool finds no satisfaction in trying to understand, for he would rather express his own opinion.
February 24th, 2022 at 12:35:06 PM
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Tuttigym, as OnceDear points out correctly, all income is taxable.
You asked why I post or something to the effect of what these session report posts are: These are all just trip reports is all.
I did used to post much more detail in my session reports, including exact amounts pulled and images of markers repaid but then some forum members, mostly former banned ones who are still out there somewhere, vowed to track me down for nefarious purposes using the details posted, so on advice from a current forum member I made my posts much more vague. But the bottom line as to what exactly occurred per session is still there.
I did play at a regular table recently. And lost.
You asked why I post or something to the effect of what these session report posts are: These are all just trip reports is all.
I did used to post much more detail in my session reports, including exact amounts pulled and images of markers repaid but then some forum members, mostly former banned ones who are still out there somewhere, vowed to track me down for nefarious purposes using the details posted, so on advice from a current forum member I made my posts much more vague. But the bottom line as to what exactly occurred per session is still there.
I did play at a regular table recently. And lost.
I tell you it’s wonderful to be here, man. I don’t give a damn who wins or loses. It’s just wonderful to be here with you people.
https://wizardofvegas.com/forum/gambling/betting-systems/33908-the-adventures-of-mdawg/
February 24th, 2022 at 2:50:30 PM
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Quote: OnceDearQuote: tuttigym
One other thing, with these "tax-free" winnings, do any charities benefit?
tuttigym
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Tax free winnings? Why would you say that?
MDawg is a honest guy and declares his winnings voluntarily and pays his taxes on them..... Presumably.
link to original post
Read pages 31-33 of this thread. At no time did Mr. McDawg state that he self-reported his winnings, receive a 1099 or W2G from any casino, pay state income tax from his state of current residency, or specifically deny that he "skated." The "presumption" is yours.
Notice on his previous post that "all income is taxable" and ....................?
Losing on a regular table is no surprise.
tuttigym
February 24th, 2022 at 3:21:26 PM
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Quote: tuttigymQuote: OnceDearQuote: tuttigym
One other thing, with these "tax-free" winnings, do any charities benefit?
tuttigym
link to original post
Tax free winnings? Why would you say that?
MDawg is a honest guy and declares his winnings voluntarily and pays his taxes on them..... Presumably.
link to original post
Read pages 31-33 of this thread. At no time did Mr. McDawg state that he self-reported his winnings, receive a 1099 or W2G from any casino, pay state income tax from his state of current residency, or specifically deny that he "skated." The "presumption" is yours.
Notice on his previous post that "all income is taxable" and ....................?
Losing on a regular table is no surprise.
tuttigym
link to original post
If I am not mistaken, he has said that he pays taxes on all his income. That has been said on this site.
At my age, a "Life In Prison" sentence is not much of a deterrent.
February 24th, 2022 at 3:35:02 PM
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He's previously declared to this forum that he pays his taxes. He's also told us he is a lawyer. For any of us to assume that he is a tax criminal would be somewhat discourteous. Assume it if you wish, but don't imply it here.Quote: DRichQuote: tuttigymQuote: OnceDearQuote: tuttigym
One other thing, with these "tax-free" winnings, do any charities benefit?
tuttigym
link to original post
Tax free winnings? Why would you say that?
MDawg is a honest guy and declares his winnings voluntarily and pays his taxes on them..... Presumably.
link to original post
Read pages 31-33 of this thread. At no time did Mr. McDawg state that he self-reported his winnings, receive a 1099 or W2G from any casino, pay state income tax from his state of current residency, or specifically deny that he "skated." The "presumption" is yours.
Notice on his previous post that "all income is taxable" and ....................?
Losing on a regular table is no surprise.
tuttigym
link to original post
If I am not mistaken, he has said that he pays taxes on all his income. That has been said on this site.
link to original post
Psalm 25:16
Turn to me and be gracious to me, for I am lonely and afflicted.
Proverbs 18:2
A fool finds no satisfaction in trying to understand, for he would rather express his own opinion.
February 24th, 2022 at 3:49:42 PM
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Quote: tuttigymForum members have read your postings. We have seen the flashy wealth, i.e., chips, currency, jewelry, accommodations, comps, etc., so what is the goal or objective here? What's the "dream"? Why should we care? Is there a "kicker" or message? If so, what is it?
The posts regarding your play are incomplete.
What is your buy-in per each session?
Do you re-buy during any given session? If so, how many times and how much?
Do you set a win/goal amount as a percentage of the buy-in?
How about playing at a "regular" table with a $2,000 buy-in and seeing if you can win as regularly as you seem to do at the "whale" table with no re-buys? I personally believe that any savvy player with basically unlimited funds could mirror your posted results.
One other thing, with these "tax-free" winnings, do any charities benefit?
tuttigym
link to original post
What is your point?
Frankly I understand how a high limit player can beat the expected return. It's really easy: just make a couple of huge bets that you win and it wipes out many smaller losses.
If you think there is a gambler not properly reporting I urge you to follow the tips I recently gave in a blog for a tax help company:
https://www.legaltaxdefense.com/being-a-whistleblower/
Perhaps you'll be able to treat all the forum members to lunch.
February 24th, 2022 at 5:37:45 PM
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I would hope the Powers That Be would deal rather severely to any member who turned in another to the IRS for gambling.
The older I get, the better I recall things that never happened
February 24th, 2022 at 6:22:20 PM
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Quote: billryanI would hope the Powers That Be would deal rather severely to any member who turned in another to the IRS for gambling.
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Dumb question - how would we know?
The IRS doesn't phone me and say that so and so tattled on such and such. Maybe one of the others gets those calls.
May the cards fall in your favor.
February 24th, 2022 at 9:32:00 PM
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Quote: DieterQuote: billryanI would hope the Powers That Be would deal rather severely to any member who turned in another to the IRS for gambling.
link to original post
Dumb question - how would we know?
The IRS doesn't phone me and say that so and so tattled on such and such. Maybe one of the others gets those calls.
link to original post
You wouldn't know... unless a prominent winning member disappeared and the alleged snitch bought a Newell without claiming they won the money with the double up bug.
February 24th, 2022 at 9:56:06 PM
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Quote: DieterQuote: billryanI would hope the Powers That Be would deal rather severely to any member who turned in another to the IRS for gambling.
link to original post
Dumb question - how would we know?
The IRS doesn't phone me and say that so and so tattled on such and such. Maybe one of the others gets those calls.
link to original post
The perp would have to out himself.
The older I get, the better I recall things that never happened
February 25th, 2022 at 1:02:01 AM
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Quote: billryanQuote: DieterQuote: billryanI would hope the Powers That Be would deal rather severely to any member who turned in another to the IRS for gambling.
link to original post
Dumb question - how would we know?
The IRS doesn't phone me and say that so and so tattled on such and such. Maybe one of the others gets those calls.
link to original post
The perp would have to out himself.
link to original post
Thanks guys. Case by case basis.
(Newell? Prevost.)
May the cards fall in your favor.
February 25th, 2022 at 4:48:10 AM
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Why would the IRS care if a WoV member was gambling? If you meant "tax fraud," why should the Powers That Be be upset at a member who reported a tax cheat? In fact, I would bet they would side with the one doing the reporting.Quote: billryanI would hope the Powers That Be would deal rather severely to any member who turned in another to the IRS for gambling.
link to original post
People who commit tax fraud necessitate the rest of us to pay more. I would put them in the same category as welchers, whom the Powers That Be are not shy about calling out.
Not that any of this applies to anything in this thread. Carry on, MDawg!
"Dealer has 'rock'... Pay 'paper!'"
February 25th, 2022 at 8:31:57 AM
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Day 48 play.
DD Blackjack. 300 - 20000.
Still on that roll!
+11200
Note: Lately, for security reasons, session reports are not necessarily presented in real time corresponding directly to the day played.
I'm willing to present a side Challenge. If anyone doubts that any one, just any one of the Session reports I present during this trip is not entirely accurate, throw down a red flag! Put up a mere ten grand in cash, let's work out how to verify the Session to your satisfaction using the Wizard as the judge, and winner takes the twenty thousand.
I'll contribute five hundred from my end for the Wizard's time if the Challenger will do the same, so that's $19,000. to the winner of this side Challenge.
This Side Challenge remains good for the duration of this particular Vegas trip.
DD Blackjack. 300 - 20000.
Still on that roll!
+11200
Note: Lately, for security reasons, session reports are not necessarily presented in real time corresponding directly to the day played.
I'm willing to present a side Challenge. If anyone doubts that any one, just any one of the Session reports I present during this trip is not entirely accurate, throw down a red flag! Put up a mere ten grand in cash, let's work out how to verify the Session to your satisfaction using the Wizard as the judge, and winner takes the twenty thousand.
I'll contribute five hundred from my end for the Wizard's time if the Challenger will do the same, so that's $19,000. to the winner of this side Challenge.
This Side Challenge remains good for the duration of this particular Vegas trip.
I tell you it’s wonderful to be here, man. I don’t give a damn who wins or loses. It’s just wonderful to be here with you people.
https://wizardofvegas.com/forum/gambling/betting-systems/33908-the-adventures-of-mdawg/
February 25th, 2022 at 8:36:01 AM
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I don't want to jinx it but on this latest run at this latest casino I am collecting pumpkins. I keep them in the hotel safety deposit box do not take them to the tables with me. My lines are more than high enough anyway, plus I don't like having too many chips at arm's reach...get on a bad roll and you might be cajoled into reaching for them at the wrong time.
I tell you it’s wonderful to be here, man. I don’t give a damn who wins or loses. It’s just wonderful to be here with you people.
https://wizardofvegas.com/forum/gambling/betting-systems/33908-the-adventures-of-mdawg/
February 25th, 2022 at 12:09:24 PM
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Hi TigerWu how have you been. Welcome back!
I tell you it’s wonderful to be here, man. I don’t give a damn who wins or loses. It’s just wonderful to be here with you people.
https://wizardofvegas.com/forum/gambling/betting-systems/33908-the-adventures-of-mdawg/
February 26th, 2022 at 3:10:05 AM
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Day 49 play.
DD Blackjack. 300 - 20000.
Wasn’t easy. I actually was down -55000 at one point and made my comeback using just 5000 of additional funds. I had much more available of course but luckily didn’t need to pull it.
So I took a single 5000 chip to over 75000.
The comment from a dealer next door: “I don’t know how you do it.”
+21300
DD Blackjack. 300 - 20000.
Wasn’t easy. I actually was down -55000 at one point and made my comeback using just 5000 of additional funds. I had much more available of course but luckily didn’t need to pull it.
So I took a single 5000 chip to over 75000.
The comment from a dealer next door: “I don’t know how you do it.”
+21300
I tell you it’s wonderful to be here, man. I don’t give a damn who wins or loses. It’s just wonderful to be here with you people.
https://wizardofvegas.com/forum/gambling/betting-systems/33908-the-adventures-of-mdawg/
February 26th, 2022 at 3:11:24 AM
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It is interesting how it is often easier to do something like that, take a single 5000 chip to over 75000, when you have to, versus when you don't.
I tell you it’s wonderful to be here, man. I don’t give a damn who wins or loses. It’s just wonderful to be here with you people.
https://wizardofvegas.com/forum/gambling/betting-systems/33908-the-adventures-of-mdawg/
February 26th, 2022 at 7:21:36 AM
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Mind over matter. It's amazing what one can do when you put your mind to it. I was never much of a runner but I once ran a hundred yards in about six seconds. It's amazing how the sound of automatic weaponry can inspire one to new heights.
The older I get, the better I recall things that never happened
February 26th, 2022 at 9:00:27 AM
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At a recent session I was stacking the purple chips and each time I placed a stack out there I'd tell the dealer, "I'm visualizing these adding on to the stack here, to bring it up to the level of the stack next to it," meaning, another 5K winning stack. Actually that day I think they were 10K winning stacks I was betting heavy.
I didn't expect her to get it, at least not entirely, but then she said, "Yes, transmuting that desire into a tangible reality!"
I was impressed. A student of Napoleon Hill?
Reminded me of the scene in Swingers where Jon Favreau asks for pancakes in the Age of Enlightenment and assumes that the waitress doesn't get the reference.
"Hang on, Voltaire."
I didn't expect her to get it, at least not entirely, but then she said, "Yes, transmuting that desire into a tangible reality!"
I was impressed. A student of Napoleon Hill?
Reminded me of the scene in Swingers where Jon Favreau asks for pancakes in the Age of Enlightenment and assumes that the waitress doesn't get the reference.
"Hang on, Voltaire."
I tell you it’s wonderful to be here, man. I don’t give a damn who wins or loses. It’s just wonderful to be here with you people.
https://wizardofvegas.com/forum/gambling/betting-systems/33908-the-adventures-of-mdawg/
February 26th, 2022 at 9:22:11 AM
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Quote: OnceDearTax free winnings? Why would you say that?
MDawg is a honest guy and declares his winnings voluntarily and pays his taxes on them..... Presumably.
link to original post
"Presumably"?? Another from the hip/rush to judgement post. There is nothing in my post that suggests Mr. McDawg is dishonest or does not declare his winnings. The fact is this, if the casinos do not provide the feds and the player with a tax instrument such as a W2G or 1099, there is NO taxable event. The govt has no way to levy any tax without proper documentation or notification. Therefore, the only tax "cheats" are the casinos because it is on them to provide the above that creates the taxable event. Patrons that win under $1200 (in one spin) at the slots are not predisposed to pay income taxes to the feds: tax free income. Players who win $$$ at the tables are similarly not predisposed: tax free income.
tuttigym
February 26th, 2022 at 9:40:37 AM
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Okay, reality / honesty time. I doubt that many, if any, table game players are declaring any casino income to the IRS, mostly because most casino players probably lose by year's end, and those who do win, don't win enough regularly enough to care to report it to the IRS. And yes, there is nothing reported to the government for table game wins that compels a table game winner to report the income.
However, when you're winning at the level I am winning at, and large checks and sums of cash are being deposited, Honey Baby, it's hard to convince a jury you found it in a taxicab and it's best to just report casino income just like any other income.
However, when you're winning at the level I am winning at, and large checks and sums of cash are being deposited, Honey Baby, it's hard to convince a jury you found it in a taxicab and it's best to just report casino income just like any other income.
I tell you it’s wonderful to be here, man. I don’t give a damn who wins or loses. It’s just wonderful to be here with you people.
https://wizardofvegas.com/forum/gambling/betting-systems/33908-the-adventures-of-mdawg/
February 26th, 2022 at 9:42:21 AM
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Quote: MDawgTuttigym, as OnceDear points out correctly, all income is taxable.
Someone here posted that you are a lawyer. If so, then you would know that "all" income is NOT taxable. The only income that is legally taxable is that which is voluntarily declared, reported to the feds by a third party, or funds dispersed from a financial instrument that was previously earned but deferred by contract.
Quote: MDawgThese are all just trip reports is all.
Trip reports?? They are gambling reports: game, play, wager amounts, and results. I was more interested in the objective or why we should care. Showing currency, bling, chips, and accommodations or comps would seem to me to make you more of a "target" than posting session details. There is nothing "vague" about showing gaudy wealth.
tuttigym
February 26th, 2022 at 9:53:53 AM
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Just for example, the law since January 1, 2012, has been that merchants who credit or debit card process over $20000 in over 200 transactions would receive a 1099-K. Beginning January 1, 2022, the threshold is lowered to $600. with no minimum number of transactions.
However, this doesn't mean that if a 1099-K was not issued that the merchant is off the hook for reporting income! based on those net receipts.
However, this doesn't mean that if a 1099-K was not issued that the merchant is off the hook for reporting income! based on those net receipts.
I tell you it’s wonderful to be here, man. I don’t give a damn who wins or loses. It’s just wonderful to be here with you people.
https://wizardofvegas.com/forum/gambling/betting-systems/33908-the-adventures-of-mdawg/
February 26th, 2022 at 9:54:39 AM
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Quote: MDawgOkay, reality / honesty time. I doubt that many, if any, table game players are declaring any casino income to the IRS, mostly because most casino players probably lose by year's end, and those who do win, don't win enough regularly enough to care to report it to the IRS. And yes, there is nothing reported to the government for table game wins that compels a table game winner to report the income.
However, when you're winning at the level I am winning at, and large checks and sums of cash are being deposited, Honey Baby, it's hard to convince a jury you found it in a taxicab and it's best to just report casino income just like any other income.
link to original post
Thank you Mr.MDawg for the affirmation and clarifications. There are certain inferences I could draw from your post, but I will not state them. OnceDear needs to provide an apology for it was that post which suggested "dishonesty" not mine. I just asked the important questions.
tuttigym
February 26th, 2022 at 10:02:03 AM
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It is hard to understand what you are trying to say, so I won't try, but all income is reportable to the government and taxable. Period.
Reportable means should be reported by the taxpayer.
Reportable means should be reported by the taxpayer.
I tell you it’s wonderful to be here, man. I don’t give a damn who wins or loses. It’s just wonderful to be here with you people.
https://wizardofvegas.com/forum/gambling/betting-systems/33908-the-adventures-of-mdawg/
February 26th, 2022 at 12:04:54 PM
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Quote: MDawgIt is hard to understand what you are trying to say, so I won't try, but all income is reportable to the government and taxable. Period.
Reportable means should be reported by the taxpayer.
link to original post
That is also not true. Income from tax-free municipal bonds is NOT reported.
To paraphrase billryan: It should be reported until it isn't. And to quote some other famous individual: "When pigs fly."
tuttigym
February 26th, 2022 at 2:02:34 PM
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Quote: tuttigymIncome from tax-free municipal bonds is NOT reported.
Form 1099-INT reports tax-exempt interest from municipal bonds.
Tax-exempt interest from private activity bonds, taxable for purposes of the
Alternative Minimum Tax (AMT), is also reported on Form 1099-INT.
February 26th, 2022 at 2:54:57 PM
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Quote: tuttigymOnceDear needs to provide an apology for it was that post which suggested "dishonesty" not mine. I just asked the important questions.
tuttigym
link to original post
(quote trimmed)
I see how the post might have suggested dishonesty, but I doubt OnceDear meant to imply such.
May the cards fall in your favor.
February 26th, 2022 at 4:34:10 PM
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The point is that it doesn't matter whether income is reported or not by the provider, all income is taxable. Even "tax free" municipal bonds may be subject to state or local tax. In any case, this discussion doesn't seem to have much further substance to it.
I tell you it’s wonderful to be here, man. I don’t give a damn who wins or loses. It’s just wonderful to be here with you people.
https://wizardofvegas.com/forum/gambling/betting-systems/33908-the-adventures-of-mdawg/
February 26th, 2022 at 4:35:54 PM
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Quote: DieterQuote: tuttigymOnceDear needs to provide an apology for it was that post which suggested "dishonesty" not mine. I just asked the important questions.
tuttigym
link to original post
(quote trimmed)
I see how the post might have suggested dishonesty, but I doubt OnceDear meant to imply such.
link to original post
Perhaps, but there is a rush to judgement by some and mind reading by others. Taking a step back and a deep breath might allow for clearer thought and less tension/frustration.
tuttigym
February 26th, 2022 at 4:36:47 PM
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Day 50 play.
DD Blackjack. 300 - 20000.
There was some heavy hitting and repeated 20K hands, somewhat back and forth.
+21600
Note: Lately, for security reasons, session reports are not necessarily presented in real time corresponding directly to the day played.
I'm willing to present a side Challenge. If anyone doubts that any one, just any one of the Session reports I present during this trip is not entirely accurate, throw down a red flag! Put up a mere ten grand in cash, let's work out how to verify the Session to your satisfaction using the Wizard as the judge, and winner takes the twenty thousand.
I'll contribute five hundred from my end for the Wizard's time if the Challenger will do the same, so that's $19,000. to the winner of this side Challenge.
This Side Challenge remains good for the duration of this particular Vegas trip.
DD Blackjack. 300 - 20000.
There was some heavy hitting and repeated 20K hands, somewhat back and forth.
+21600
Note: Lately, for security reasons, session reports are not necessarily presented in real time corresponding directly to the day played.
I'm willing to present a side Challenge. If anyone doubts that any one, just any one of the Session reports I present during this trip is not entirely accurate, throw down a red flag! Put up a mere ten grand in cash, let's work out how to verify the Session to your satisfaction using the Wizard as the judge, and winner takes the twenty thousand.
I'll contribute five hundred from my end for the Wizard's time if the Challenger will do the same, so that's $19,000. to the winner of this side Challenge.
This Side Challenge remains good for the duration of this particular Vegas trip.
I tell you it’s wonderful to be here, man. I don’t give a damn who wins or loses. It’s just wonderful to be here with you people.
https://wizardofvegas.com/forum/gambling/betting-systems/33908-the-adventures-of-mdawg/
February 26th, 2022 at 4:45:42 PM
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Quote: coachbellyQuote: tuttigymIncome from tax-free municipal bonds is NOT reported.
Form 1099-INT reports tax-exempt interest from municipal bonds.
Tax-exempt interest from private activity bonds, taxable for purposes of the
Alternative Minimum Tax (AMT), is also reported on Form 1099-INT.
link to original post
Thank you, I stand corrected. BTW I found out that tax free muni's are also offset against SS income that raises taxable thresholds.
In a perfect world, "off-the books" cash transactions and wagered winnings that exceed losses would be declared, but alas, we are not there yet, and the new national pastime is "beating" the IRS.
tuttigym
February 27th, 2022 at 10:27:44 PM
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Day 51 play.
Baccarat.
Multiple sessions across a few casinos. Was ahead +10K then dumped to the point of -60K including with a 20K natural 8 under 9 loss. Not edifying.
At another casino won back +38K.
Went to another casino and dumped (promptly) -60K in about six hands. Ouch.
Returned to second casino and kept winning and winning to the tune of winning another almost seventy-five K on top of the 38K from the prior session.
End result was still a loss but I consider it a pretty nice Victory considering that I was down almost a hundred K at the low point.
-7500 (not including the concessions received at the two losing casinos).
Note: Lately, for security reasons, session reports are not necessarily presented in real time corresponding directly to the day played.
I'm willing to present a side Challenge. If anyone doubts that any one, just any one of the Session reports I present during this trip is not entirely accurate, throw down a red flag! Put up a mere ten grand in cash, let's work out how to verify the Session to your satisfaction using the Wizard as the judge, and winner takes the twenty thousand.
I'll contribute five hundred from my end for the Wizard's time if the Challenger will do the same, so that's $19,000. to the winner of this side Challenge.
This Side Challenge remains good for the duration of this particular Vegas trip.
Baccarat.
Multiple sessions across a few casinos. Was ahead +10K then dumped to the point of -60K including with a 20K natural 8 under 9 loss. Not edifying.
At another casino won back +38K.
Went to another casino and dumped (promptly) -60K in about six hands. Ouch.
Returned to second casino and kept winning and winning to the tune of winning another almost seventy-five K on top of the 38K from the prior session.
End result was still a loss but I consider it a pretty nice Victory considering that I was down almost a hundred K at the low point.
-7500 (not including the concessions received at the two losing casinos).
Note: Lately, for security reasons, session reports are not necessarily presented in real time corresponding directly to the day played.
I'm willing to present a side Challenge. If anyone doubts that any one, just any one of the Session reports I present during this trip is not entirely accurate, throw down a red flag! Put up a mere ten grand in cash, let's work out how to verify the Session to your satisfaction using the Wizard as the judge, and winner takes the twenty thousand.
I'll contribute five hundred from my end for the Wizard's time if the Challenger will do the same, so that's $19,000. to the winner of this side Challenge.
This Side Challenge remains good for the duration of this particular Vegas trip.
I tell you it’s wonderful to be here, man. I don’t give a damn who wins or loses. It’s just wonderful to be here with you people.
https://wizardofvegas.com/forum/gambling/betting-systems/33908-the-adventures-of-mdawg/
