<<I would like to know how increasing your net loss another $10,000 has any
value unless you have other income to offset.>>
Net operating losses can be carried back and forward to offset other years'
taxes.
<<The other thing that smells funny is his total action is only $130,000.
This does not sound like a full time professional. Even if his theo is 5%
which is probably unrealistic with today's high takeout (rake for you poker
players) his theo profit is $6500 minus expenses of $10,000 for a negative
expectation of $3500. How does he qualify as a professional gambler with
that kind of business plan? This doesn't make any sense!>>
Good catch. I don't think the IRS has that kind of perspicacity. If he
continues losing, they may disallow it.
Cogno
RE: [vpFREE] Re: LVRJ: Professional gamblers gain with tax ruling
[vpFREE] Re: LVRJ: Professional gamblers gain with tax ruling
Cogno,
I would like to know how increasing your net loss another $10,000 has any value unless you have other income to offset. The other thing that smells funny is his total action is only $130,000. This does not sound like a full time professional. Even if his theo is 5% which is probably unrealistic with today's high takeout (rake for you poker players) his theo profit is $6500 minus expenses of $10,000 for a negative expectation of $3500. How does he qualify as a professional gambler with that kind of business plan? This doesn't make any sense!
Chris
--- In vpFREE@yahoogroups.com, Cogno Scienti <cognoscienti@...> wrote:
>
> They missed the entire point of the ruling. Pros could always deduct
> expenses. This just allows them to use expenses to create a net operating
> loss for a losing year.
>
> Cogno
>
> -----Original Message-----
> From: vpFREE@yahoogroups.com [mailto:vpFREE@yahoogroups.com] On Behalf Of
> vpFREE Administrator
> Sent: Monday, March 14, 2011 10:10 PM
> To: vpFREE@...
> Subject: [vpFREE] LVRJ: Professional gamblers gain with tax ruling
>
> LVRJ: Professional gamblers gain with tax ruling
>
> http://www.lvrj.com/business/professional-gamblers-gain-with-tax-ruling-1179
> 71244.html
>
> or
>
> http://tinyurl.com/4hk9evd
>
> <a href="http://tinyurl.com/4hk9evd">
> http://tinyurl.com/4hk9evd</a>
>
>
> *************************************************
> This link is posted for informational purposes and doesn't constitute an
> endorsement or approval of the linked article's content by vpFREE. Any
> discussion of the article must be done in accordance with vpFREE's rules and
> policies.
> *************************************************
>
>
>
> ------------------------------------
>
> vpFREE Links: http://members.cox.net/vpfree/Links.htm
>
> Yahoo! Groups Links
>
RE: [vpFREE] Re: Hard Rock
i just worry about their survival. Customers seem scarce recently. Hopefully pool season will bring some more traffic.
To: vpFREE@yahoogroups.com
From: gofastnismo@yahoo.com
Date: Tue, 15 Mar 2011 21:57:45 +0000
Subject: [vpFREE] Re: Hard Rock
Machines down at the Hard Rock? Not much of a surprise. I play there quite often and there are always malfunctions on the card readers, point play, kiosks, buttons etc. Look how long it took them to figure out the quick quads were giving 6.5 to $1.25 on the points. Instead of just fixing the problem and leaving the machines they took out two of the three machines and the point problem(By the way I didnt abuse their error because Im not much of a quick quad player to begin with.) Love the place but the slot department needs some help. Hosts tell me they are competitive with other local casinos but they offer no multipliers on VP because they have "good poker." Ive told them other places have better poker and multipliers to make up for the comp value. I cant complain about most of the staff though, they are great, drinks are great and the good ole rock music is better than the elevator music at most other joints.
--- In vpFREE@yahoogroups.com, James Thompson <jamesgthompson@...> wrote:
>
>
> I swiped my card on Sunday and won 5 dollars. Top prize was 25 dollars.
>
> James Thompson
>
> To: vpFREE@yahoogroups.com
> From: vegasvpplayer@...
> Date: Tue, 15 Mar 2011 09:40:32 -0700
> Subject: [vpFREE] Hard Rock
>
>
>
>
>
>
>
>
>
>
>
>
>
>
>
>
>
>
>
>
>
>
>
>
>
>
>
>
> The two Ten Play machines with 25c Bonus Poker Deluxe are both out of service. The daily swipe game is currently down too.
>
>
>
> Sent from my iPhone
>
>
>
>
>
>
>
>
>
>
>
>
>
>
> [Non-text portions of this message have been removed]
>
[Non-text portions of this message have been removed]
------------------------------------
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Re: [vpFREE] Cornedbeef and Cabbage Question
NY. NY. In the deli is great
Sent from my Verizon Wireless BlackBerry
-----Original Message-----
From: "pumsparky" <dianalnagy@aol.com>
Sender: vpFREE@yahoogroups.com
Date: Wed, 16 Mar 2011 00:50:23
To: <vpFREE@yahoogroups.com>
Reply-To: vpFREE@yahoogroups.com
Subject: [vpFREE] Cornedbeef and Cabbage Question
Anyone know where I can get good Cornedbeef and Cabbage on St. Patricks Day? Any buffets serve it? Had some at some Irish theme bar downtown LV and it was a joke, tough and tasteless.
Thanks for any info.
[Non-text portions of this message have been removed]
[vpFREE] Re: Encouraging Casinos to have high meter progressives
--- In vpFREE@yahoogroups.com, "bobbartop" <bobbartop@...> wrote:
> My point in posting this is what if somehow someone was to take another avenue to trying to convince the casinos that it is in everyone's behalf. What about the slot manufacturers? Would the casinos listen to them? Could someone who has clout with the manufacturers like Bally and IGT, etc., convince them to convince the casinos?
Unfortunately, many people are ingorant of how the casino industry works. The casinos are the one's who decide what games, what paybacks (based on par sheets), etc, and the various slot manufacturers are competing for these limited number of slots.
For some reason, the "slot director" knows his market best and knows what his customer will play and it's hard to convince this so call "know-it-all". Many slot directors are biased or superstitious or caught up in old-school "casino holds" as opposed to new-school of daily win-rates.
Additionally, many people are simply clueless in that they don't understand the average lifespan of a slot machine in a casino or the amount of money spent by slot manufacturers to get a slot machine to market. To take a page from Buddhism, having the "right view" is critical.
From my experience talking to various slot directors, casinos don't have high meter progressive vp is that it is COUNTER-PRODUCTIVE. From a casino perspective, why have progressive vp meters where the locals or the core customer base build up a high jackpot only to have pros and "outside scum" come in and p*ss off my customer base? It's just not worth the hassle factor and aggravation. The same casinos DON'T MIND having progressive slots because these paybacks are harder (not impossible) to verify. I know a lot of VP pro's who make a significant amount of income from progressive meters from slots (that includes Keno) than vp.
So my (rhectorical) question to "bobbartop" and others is: Why should casinos have progressive video poker machines if the casino can make more money from progessive slots, other things being equal? Additionally, once you consider the costs of bring in new progressive vp machines, new signage, a new marketing program, etc, try to justify that project on a net present value basis (or IRR or payback for the old-school folks). A project like that is DOA due to pros.
In summary, the number one reason casinos don't have good progressive video poker is due to pro's.
[vpFREE] Cornedbeef and Cabbage Question
Anyone know where I can get good Cornedbeef and Cabbage on St. Patricks Day? Any buffets serve it? Had some at some Irish theme bar downtown LV and it was a joke, tough and tasteless.
Thanks for any info.
[vpFREE] Ballys AC Promotion question
Does anyone know if there are any "secret" information that is encrypted in the alpha-numerical information on the monthly mailers.
One of my last mailings had the following info:
1B57W 4J1 405DD01037582 P178 T94
Just wondering.
Thanks.
Bob Imbo
Vegasfool369@aol.com
[vpFREE] Re: rare royal flush
--- In vpFREE@yahoogroups.com, "mklpryy24" <mklpryy24@...> wrote:
>
> Hit royal on a pick-em poker game 2 mondays ago, a 1 in a 90k shot.
>
Royals come around about every 350,000 in fp pickem. Once you're looking at three parts to it, it's just another 2-card draw. Easy peasy.
[vpFREE] Re: LVRJ: Professional gamblers gain with tax ruling
--- In vpFREE@yahoogroups.com, Cogno Scienti <cognoscienti@...> wrote:
>
> They missed the entire point of the ruling. Pros could always deduct
> expenses. This just allows them to use expenses to create a net operating
> loss for a losing year.
>
> Cogno
>
Your right, and if a pro gambler self inc they already could create a loss.
Will it allow pros (people who eat off their winnings and have no other job) to carry forward or back losses to another tax year as any other bizness now banned by statue ?
THAT would be sweet!
M J
> -----Original Message-----
> From: vpFREE@yahoogroups.com [mailto:vpFREE@yahoogroups.com] On Behalf Of
> vpFREE Administrator
> Sent: Monday, March 14, 2011 10:10 PM
> To: vpFREE@...
> Subject: [vpFREE] LVRJ: Professional gamblers gain with tax ruling
>
> LVRJ: Professional gamblers gain with tax ruling
>
> http://www.lvrj.com/business/professional-gamblers-gain-with-tax-ruling-1179
> 71244.html
>
> or
>
> http://tinyurl.com/4hk9evd
>
> <a href="http://tinyurl.com/4hk9evd">
> http://tinyurl.com/4hk9evd</a>
>
>
> *************************************************
> This link is posted for informational purposes and doesn't constitute an
> endorsement or approval of the linked article's content by vpFREE. Any
> discussion of the article must be done in accordance with vpFREE's rules and
> policies.
> *************************************************
>
>
>
> ------------------------------------
>
> vpFREE Links: http://members.cox.net/vpfree/Links.htm
>
> Yahoo! Groups Links
>
[vpFREE] New years VP resolutions ( I know its late)
So what? LOL
1. study longer, practice more your favorite game.
You might be surprised on how much it will help, I have gone from 15 min 2 or 3 times a week to full 1/2 hour 4 times a week. Before a trip will practice more, for my trip this thur i am doing 1 hour a nite sun mon & to day, anothr hour tomorrow studying and making sure i have chart memorised for NSUD.
2. learn a new game
Wow does this help, learning pick-em has helped my NSUD play. Makes you rethink evrything, stops the boredom you may have playin VP.
Makes it easier to correct your attitude.
3. Reread a favorite book, relisten to your favorite music.
Allows you to relax with something familiar , helps your mind heal.
Stress makes it hard to learn and focus.
We all need to go back, for me its "turning the tables on las vegas" by ian anderson and Electric kool aid acid test" by tom wolfe
music its been refinding miles davis and rory gallagher.
4. Discover something new to you
Goes with #2, be it music, hobby, person , doing something new helps you by increasing the amount your brain cells can do and using different pathways and ways to learn is a great mental workout.
For me live poker 2-3 times a month has worked, listening to classical music has not!
The above works for me, maybee ; )
YRMV
M J
[vpFREE] rare royal flush
Hit royal on a pick-em poker game 2 mondays ago, a 1 in a 90k shot.
Pick-em only .25 fp game at local native casino so learned game over past couple of months. Thanks vp genius and TomSki for the help. Excellent charts.
M J
[vpFREE] Re: Planet Hollywood RIPOFF (NOT RIPPING OFF ANYMORE)
PH just clarified on FB page that they are not charging to WATCH the games in the mezz, just if you want the all you can eat/drink package.
We will see what it ends up looking like Thurs!
--- In vpFREE@yahoogroups.com, "Ericgw" <ericgw@...> wrote:
>
> Hilton is still free, and if they put in more betting kiosks by the auditorium, the lines shouldnt be too bad. If they put a board with the lines, it would be fine.
> Also heard Riviera is doing a FREE show, and also raffling off prizes (for free also!!!).
> Strat has a free one too.
> Lots of choices beyond the Harrahs short-term thinking cash grab...
>
> I may send an email to the NCAA about copyright violations too...
>
>
>
> --- In vpFREE@yahoogroups.com, "cb_ray" <cb_ray@> wrote:
> >
> >
> > You can watch it for free at the Palms, Gold Coast and others. I know both Palms and Gold Coast are running food and drink specials.
> >
> > -- In vpFREE@yahoogroups.com, "ThomasS" <tomskilv@> wrote:
> > >
> > > WOW, that is really bad. It might actually be illegal since at least some of the games are on broadcast tv. years ago, the casinos used to charge money for super bowl parties. The NFL said "no you cant, this is a free telecast".
> > > HR might claim they are charging for the t-shirt & beer, but that is a pretty weak leg to stand on.
> > >
> > >
> > >
> > > --- In vpFREE@yahoogroups.com, "Ericgw" <ericgw@> wrote:
> > > >
> > > > So apparently Planet Hollywood has decided to try to nickel and dime their customers to get back what they didnt win at the Super Bowl.
> > > > They are trying to CHARGE 49 dollars (and up) PER PERSON PER DAY to sit in the mezzanine (a giant hallway) and watch the first rounds of the NCAA Tourney on big screen TVs. Imagine that, you get to PAY for the right to BET MONEY and then watch the outcome of that which you be on.
> > > > How long before they take your bet at a craps table but charge you to be able to stand against the rail to see what the dice roll actually comes up.
> > > > Oh, yea, with the 49 dollars you get a Tshirt (wow, 5 bucks at most, but worthless to me), free beer (Id think 50 bucks on a game would get you a drink ticket, dont you?), free food (worth a little money, but not 49/person/day!) OH and you can play Golden Tee arcade games!!! Oh yea, and even though last year, you controlled where you sat by getting yourself up early and getting a good seat, this year, unless you pay MORE than 49, you are automatically several rows back.
> > > > Guess the 8 guys in my group will be going back to Hilton after the past couple years at Planet Ho.
> > > > Such a ripoff.
> > > >
> > >
> >
>
[vpFREE] Re: Hard Rock
Machines down at the Hard Rock? Not much of a surprise. I play there quite often and there are always malfunctions on the card readers, point play, kiosks, buttons etc. Look how long it took them to figure out the quick quads were giving 6.5 to $1.25 on the points. Instead of just fixing the problem and leaving the machines they took out two of the three machines and the point problem(By the way I didnt abuse their error because Im not much of a quick quad player to begin with.) Love the place but the slot department needs some help. Hosts tell me they are competitive with other local casinos but they offer no multipliers on VP because they have "good poker." Ive told them other places have better poker and multipliers to make up for the comp value. I cant complain about most of the staff though, they are great, drinks are great and the good ole rock music is better than the elevator music at most other joints.
--- In vpFREE@yahoogroups.com, James Thompson <jamesgthompson@...> wrote:
>
>
> I swiped my card on Sunday and won 5 dollars. Top prize was 25 dollars.
>
> James Thompson
>
> To: vpFREE@yahoogroups.com
> From: vegasvpplayer@...
> Date: Tue, 15 Mar 2011 09:40:32 -0700
> Subject: [vpFREE] Hard Rock
>
>
>
>
>
>
>
>
>
>
>
>
>
>
>
>
>
>
>
>
>
>
>
>
>
>
>
>
> The two Ten Play machines with 25c Bonus Poker Deluxe are both out of service. The daily swipe game is currently down too.
>
>
>
> Sent from my iPhone
>
>
>
>
>
>
>
>
>
>
>
>
>
>
> [Non-text portions of this message have been removed]
>