Advantage play, pros and cons of discussing methods.

Winning more than $58K this year disqualifies a single person from getting Obamacare. What kind of health insurance can you get after that?

Not to mention auto insurance is going up 30% to 80% this year and home insurance is going up in some states to non-coverage levels.

Quote: billryan

Quote: Dieter

(snip!)

Quote: SOOPOO

I’m frankly surprised more don’t have a regular job/regular lifestyle and do AP as a side gig.
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When I had a "regular" job, it was very hard to get to a casino to look for or capitalize on plays.
Finding the kind of day job that honestly doesn't care if you need to take a few hours or days off to play on short notice is shockingly hard.
Too many jobs want you to "show up" and "keep a predictable schedule", and they really don't care that some plays are time sensitive.
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The easiest thing to do is to start your own business. I'm amazed how many people could easily benefit by doing so, but for some reason, they can't be bothered. Your Uncle Sam literally wants to hand out money, but people are afraid.
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Easier said than done.


From my understanding, a large percentage of new businesses fail within the first five years.

What business do you suggest someone start?

Being an Advantage Player is basically like owning your own business. If one is making money and enjoying it, why start another business?

Heath Insurance and SS can all be had just like any other business or job if you want it. One must take extra steps to make sure they are set up for that.

As far as living on the road in hotels and your car to save money, that's perfectly fine if you're comfortable doing that. It's certainly not for most people, but for some, it's perfectly fine. I never liked that Idea because it wasn't well suited for dating and whatnot.

It is more than just the monthly savings one is banking...
I have noticed one thing about APs who live that on-the-road lifestyle, they tend to put in a hell of a lot more hours and seem to find more stuff. Makes sense since one probably wants to spend the least amount of time in their car/hotel room as possible.

Money saved from not paying rent, lights cable, etc plus putting in 50% more hours than the average AP = a big advantage both in the short and long-run.

Quote: AxelWolf

Quote: billryan

Quote: Dieter

(snip!)

Quote: SOOPOO

I’m frankly surprised more don’t have a regular job/regular lifestyle and do AP as a side gig.
link to original post

When I had a "regular" job, it was very hard to get to a casino to look for or capitalize on plays.
Finding the kind of day job that honestly doesn't care if you need to take a few hours or days off to play on short notice is shockingly hard.
Too many jobs want you to "show up" and "keep a predictable schedule", and they really don't care that some plays are time sensitive.
link to original post

The easiest thing to do is to start your own business. I'm amazed how many people could easily benefit by doing so, but for some reason, they can't be bothered. Your Uncle Sam literally wants to hand out money, but people are afraid.
link to original post

Easier said than done.




From my understanding, a large percentage of new businesses fail within the first five years.

What business do you suggest someone start?

Being an Advantage Player is basically like owning your own business. If one is making money and enjoying it, why start another business?

Heath Insurance and SS can all be had just like any other business or job if you want it. One must take extra steps to make sure they are set up for that.

As far as living on the road in hotels and your car to save money, that's perfectly fine if you're comfortable doing that. It's certainly not for most people, but for some, it's perfectly fine. I never liked that Idea because it wasn't well suited for dating and whatnot.

It is more than just the monthly savings one is banking...
I have noticed one thing about APs who live that on-the-road lifestyle, they tend to put in a hell of a lot more hours and seem to find more stuff. Makes sense since one probably wants to spend the least amount of time in their car/hotel room as possible.

Money saved from not paying rent, lights cable, etc plus putting in 50% more hours than the average AP = a big advantage both in the short and long-run.
link to original post

Tax advantages. I'm not why that is so difficult. I suggested a way to TRich that his unreimbursed flights became business expenses and his response was, in effect, that he couldn't be bothered.

Quote: billryan

Quote: AxelWolf

Quote: billryan

Quote: Dieter

(snip!)

Quote: SOOPOO

I’m frankly surprised more don’t have a regular job/regular lifestyle and do AP as a side gig.
link to original post

When I had a "regular" job, it was very hard to get to a casino to look for or capitalize on plays.
Finding the kind of day job that honestly doesn't care if you need to take a few hours or days off to play on short notice is shockingly hard.
Too many jobs want you to "show up" and "keep a predictable schedule", and they really don't care that some plays are time sensitive.
link to original post

The easiest thing to do is to start your own business. I'm amazed how many people could easily benefit by doing so, but for some reason, they can't be bothered. Your Uncle Sam literally wants to hand out money, but people are afraid.
link to original post

Easier said than done.


From my understanding, a large percentage of new businesses fail within the first five years.

What business do you suggest someone start?

Being an Advantage Player is basically like owning your own business. If one is making money and enjoying it, why start another business?

Heath Insurance and SS can all be had just like any other business or job if you want it. One must take extra steps to make sure they are set up for that.

As far as living on the road in hotels and your car to save money, that's perfectly fine if you're comfortable doing that. It's certainly not for most people, but for some, it's perfectly fine. I never liked that Idea because it wasn't well suited for dating and whatnot.

It is more than just the monthly savings one is banking...
I have noticed one thing about APs who live that on-the-road lifestyle, they tend to put in a hell of a lot more hours and seem to find more stuff. Makes sense since one probably wants to spend the least amount of time in their car/hotel room as possible.

Money saved from not paying rent, lights cable, etc plus putting in 50% more hours than the average AP = a big advantage both in the short and long-run.
link to original post

Tax advantages. I'm not why that is so difficult. I suggested a way to TRich that his unreimbursed flights became business expenses and his response was, in effect, that he couldn't be bothered.
link to original post

Were you talking about filing as a business as an advantage player ? If so, I agree.

Quote: billryan

Tax advantages. I'm not why that is so difficult. I suggested a way to TRich that his unreimbursed flights became business expenses and his response was, in effect, that he couldn't be bothered.

That is not how I recall it. I guess I just don't understand how I can expense items from a business that I am employed by to a business that I own. My wife works for a CPA firm and there suggestion was to reclassify as a 1099 employee. I will do that if I can but if I can't I will have expenses from my "full time job" as an employee and don't understand how to write those off against my LLC or SCorp.

Yes, you are correct. You don't understand.

Quote: billryan

Yes, you are correct. You don't understand.
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To be clear, you are saying DRich doesn't understand?

Quote: billryan

Yes, you are correct. You don't understand.

Thank you for clarifying that.

Let’s be clear here. This is not a JOB. It’s a Business.

The business owner (AP) has the potential for massive monetary swings in either direction. As such you write off the losses against your wins and the business/sole proprietor pays taxes on the profit. When was the last time you went into work for the day and spent 2 grand?

Health insurance is obtained the same way anyone would, by going to the marketplace or direct to the insurer. Some AP’s may qualify for reduced insurance depending on their actual profit for the past year.

As a business you can write off your expenses as any business would.

Again I have to reiterate that being an AP is not easy, and most fail. The ones that are successful are very successful. The ones who aren’t as successful either go broke or are making a little side money. Not enough to survive without a second income.

You also have the issue of people thinking they are AP’s but in reality are hybrid gambling addicts and AP’s. I know loads of “professionals” who lose thousands on plays that were never plays to begin with. In my area there is a guy who claims to be a millionaire being an AP yet routinely blows 4-5 grand gambling. He claims to be an expert. It’s hilarious as an actual professional AP knows that the person will eventually go broke no matter how good they think they are due to their addiction to make money.

Quote: Slotenthusiast

Let’s be clear here. This is not a JOB. It’s a Business.

How much labor is required and how much can be delegated? What parts of it can be sold? If Jeff Bezos doesn't show up the Amazon warehouse, it still runs. He can sell his equity in the company or any of its assets. If the CPA doesn't show up to do my taxes it doesn't get done and he doesn't get paid. If he wants out, no one is going to buy his LLC. One of them is a business owner, the other is self-employed. I would say the guy playing casino games for income owns his job not a business.

It's not a job, it's an adventure. It's not a business, it's a way of life. It is a business in the sense that you can deduct all sorts of expenses that normal employees can't.

It's not a job, it's an adventure. It's not a business, it's a way of life. It is a business in the sense that you can deduct all sorts of expenses that normal employees can't.

Hi there. I've just made an account to thank you for keeping your secrets to yourself. If you post it on here, those methods will become futile in a flash. Why do you think CSMs are at every Blackjack table in the country?

As someone who learnt to count cards, CSMs essentially make all the time I spent doing so wasted. However, I have most definitely gained an interest (probably an addiction) in Advantage Play. Similarly to yourself, I also came from a background where gambling destroyed my life. It's only natural that we both ended up here.

I do have a couple of questions, if you feel comfortable answering them of course. Are your methods mathematically sound? I say this because a lot of 'advantage players' think that they are beating the system, but their profits are simply down to good variance. The figures you gave are simply amazing, so I'm sure you know what you're doing.

Secondly, did you find out your method(s) yourself? Knowing whether you did or not would be very helpful for someone desperate to beat the system! I'm sure if I put enough brain-power to it, I'll be able to come up with something similar to yourself.

Congratulations on beating the evil that is the casino industry. Wish you all the best.

T

Quote: NYCAP

…..
You have to use your judgement what info you can share and with whom. Sharing accelerated my growth and it made my circle of APs stronger as well. Test the waters with people you know and you will quickly find out who gives back, who only takes, and who will throw you under the bus. You need to build relationships and trust and that takes time and shared experiences.
…..

In my experience sharing with other ap’s has benefited me almost nothing. I don’t think I’m misstating anything when I say the amount of money and opportunities I have shared with other ap’s is hugely disproportionate to what I have received back. I have shared info with people over the years that made them a lot. Some have helped me a little but usually it was only from a sense of obligation cause I was making them money elsewhere.

These were usually plays where I needed someone else, hence the need for sharing. I volunteered the info and I never expected something back and I made money off of them helping me. When I say I made them money, I’m not talking about I told someone Suzy at ABC Casino flashes the hole card, you can go play it if you want. I mean some of this stuff I literally found it, then did 95% of the work and still split it with them. But when the play dies, I never hear back from them. Again there was never any expectation that they owed me anything back. Everyone was honest throughout and no one cheated. Although most of the trust was on me.

Almost every play that I have done I have found on my own or would have found. One person awhile ago did share a play with me that ended up being big (although we didn’t know that until later). I would have never thought of it on my own. I tried several times to give him stuff back. The $$$ wasn’t proportional but the effort was.

Quote: FlyingPig1892

Hi there. I've just made an account to thank you for keeping your secrets to yourself. If you post it on here, those methods will become futile in a flash. Why do you think CSMs are at every Blackjack table in the country?
link to original post

(quote truncated)

CSM's are decidedly not everywhere.
The last dozen places I've been do not use them at all.

One of these places did do a trial placement of a CSM, and removed it after a short time.
These are all or mostly 3:2 games.

Best of luck.