[vpFREE] Session Method Reporting

 


I am aware that Ms Craps reported a horror story in her attempt to get the IRS to accept session win/loss reporting. Ii looks like this method will reduce my state taxes a great deal so I am considering it for the 2014 tax year.

I would appreciate hearing if anyone else has recently used this method of reporting successfully or not. The tax court case where this method was allowed is now several years old, so hopefully the IRS is more willing to accept it.

I still work a regular 40 hour a week job so I believe it would be hopeless to try to file a schedule C as a professional gambler.

Thanks,

Chris

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Posted by: cy4873@hotmail.com
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[vpFREE] Bankroll question

 

Yesterday I passed on playing a game with a substantial progressive, largely because I wasn't confident in the strategy and had other plans with family.

After I got home I ran the numbers and it was paying 103.42% with a variance of 233.05. Plus a tiny amount of comps I'm sure.

It's a single-line quarter machine. What sort of bankroll would be needed to feel comfortable playing it? $25-30 an hour in EV is nothing to sneeze at for most players, but that variance is awfully high.

Thanks in advance.

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Posted by: C <clementiyn@yahoo.com>
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