ChumpChange's Blog
Posted by ChumpChange
May 04, 2020
May 04, 2020
Tax question discussed in Video Poker/Gambling
Gambling and Taxes (in the U.S.)https://easy.vegas/gambling/taxes
"You report your total wins as income in one place ("wins" being the sum of all winning sessions), and, if you itemize, all your losses in another place ("losses" being the sum of all losing sessions). Whether or not you received W-2Gs is irrelevant, since those amounts aren't used for tax purposes. For that reason, the IRS ought to stop requiring casinos to hand out those completely worthless forms."
Tax question discussed in Video Poker/Gambling at Wizard of Vegas - Page 2
https://wizardofvegas.com/forum/gambling/video-poker/32068-tax-question/2/
Where do I stop? 32%, 35% or 37%?
Here are your new income tax brackets for 2019. https://cnb.cx/2EqeW76
Tax reform law deals pro gamblers a losing hand - Journal of Accountancy
https://www.journalofaccountancy.com/issues/2018/oct/pro-gambling-net-losses.html
Professional Gambler Status https://professionalgamblerstatus.com/
Taxation of Recreational Gamblers: An Overview of How to Report Wagering Gains and Losses (EA Journal) - Morrel Law PLLC
https://www.morrellawpllc.com/tax-preparation-and-resolution/taxation-of-recreational-gamblers-an-overview-of-how-to-report-wagering-gains-and-losses-ea-journal/
Posted by ChumpChange
May 04, 2020
May 04, 2020
Triple Double Bonus Poker
Triple Double Bonus Poker – How to Play, Odds, and Strategy Tips Onlinehttps://www.gamblingsites.com/online-casino/video-poker/triple-double-bonus-poker/
Triple Double Bonus Poker
https://wizardofodds.com/games/video-poker/tables/triple-double-bonus/
Double Double Bonus - Wizard of Odds
https://wizardofodds.com/games/video-poker/strategy/double-double-bonus/10-6/
Game Advice, Odds, and Strategy - Wizard of Odds - Wizard of Odds
https://wizardofodds.com/games/
Video Poker Strategy Maker Sample - Wizard of Odds
https://wizardofodds.com/games/video-poker/strategy/calculator/sample/
Posted by ChumpChange
Apr 30, 2020
Apr 30, 2020
Poker: A short-term strategy that works - By Rob Singer - 2008
Thread: Rob Singer -- Discuss discussed in Video Poker/Gambling at Wizard of Vegashttps://wizardofvegas.com/forum/gambling/video-poker/34633-rob-singer-discuss/
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Poker: A short-term strategy that works - By Rob Singer - Mar 5, 2008 https://www.gamingtoday.com/poker/article/311-A_short_term_strategy_that_works
Machines be not random, and not all of the million dollars he won came from spotting patterns. Machines be cold as ice too.
Alan Mendelson & Rob Singer - YouTube https://www.youtube.com/watch?v=9DF2GuWa72A
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Me: I always notice that machines try to figure out my play and may give me easy wins at the start to sort that out. But once they grow tired of me they go deathly cold for a long, long time. So a strategy of winning a 4 of a kind for the day at a higher denomination for a daily win goal seems appropriate to me. I could raise my denomination every 1000 hands for the day until I hit something big.
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Q: I’ve been dealt many three- and four-card royal flushes lately. What are the odds of this happening?
Playing Jacks or Better, you’ll experience the thrill of being dealt a four-card royal flush once in every 2,777 hands (roughly once every four hours on average). Once in every 92 hands, on average, you’ll be dealt a three-card royal flush (about 7-8 per hour). This is what makes video poker exciting; namely, that you’ll have several opportunities to draw for a royal flush even if the odds are somewhat long (see next question).
Q: When you hold three cards to the royal flush, what is the chance of getting the two cards that you need on the draw for a royal flush?
You have a one in 1,081 chance of getting the two cards you need for the royal flush. The following table shows the chance of hitting the royal flush on the draw when you hold x cards to the royal flush.
https://www.casinocenter.com/video-poker-about-that-royal-flush/
Q: How come every time I need one card for a royal flush, it never shows up, but that exact card that I needed always seems to show up on the very next hand?
That’s because you have “selective memory.” The computer program in the video poker machine that randomly selects the cards for each hand doesn’t use the information from previous hands to determine which cards it will deal. Every hand is a random deal regardless of what cards appeared (or didn’t appear) on the previous hand.
Comments
Bengs
May 01, 2020
I like this strategy for its flexibility, I'll try it but I'm sure it's not something I'll manage at first lol
JeromeHubbard
Nov 23, 2020
I would like to recommend you to try miss kitty slot machine if you know anything about gambling and you want to play it.
Posted by ChumpChange
Apr 30, 2020
Apr 30, 2020
The Double Up Bug on Game King Video Poker Machines - 2009
Finding a Video Poker Bug Made These Guys Rich—Then Vegas Made Them Pay | WIRED https://www.wired.com/2014/10/cheating-video-poker/ Posted by ChumpChange
Mar 20, 2020
Mar 20, 2020
Nevada Gov. Sisolak announces 30 day closure of nonessential businesses
Nevada Gov. Sisolak announces 30 day closure of nonessential businesses - YouTube - Mar 17, 2020https://www.youtube.com/watch?v=5AlXT3nNRlM
Nevada Gaming Control Board Establishes Minimum Standards for Reopening Casinos - Poker News Daily - May 2nd, 2020
https://www.pokernewsdaily.com/nevada-gaming-control-board-establishes-minimum-standards-for-reopening-casinos-33616/?fbclid=IwAR1dlPZyR2I-
Comments
Gambling wins are listed as Taxable Outcome.
The problem is that gambling losses are listed under Itemized Deductions - and since the standard deduction for married people is about $20,000 most people do not Itemize Deductions. You can easily have gambling losses of $10K or $15K and still find that claiming the Standard Deduction is better. This means that your gambling wins are being taxed and your gambling losses do not offset the wins.