*** OFFICIAL *** FFA WAGERING THREAD - Merry Christmas!!! (3 Viewers)

[gussy]

I owe about 17k 

Dude, I paid in over 41K last year. I wish it was because I was such a great gambler. Hiding my head under the covers until I do mine now. That's the ONLY thing that I may be on board with Drumpf with. If he gets his cuts in place it will help my tax bracket. Not the single mother poor people who voted for him, but I could use the break.

 

[gussy]

#Nebraska is getting 33% of bets but 51% of dollars. #CornHuskers have moved from +10 to +7 vs #Purdue

Love losing bets when the Huskers actually win. I was imagining with my luck they'd lose by 1-6. Great win. I really need to pay closer
attention to where the money is going and reverse line movements, etc. with CBB. I've been dreadful in hoops this year. It used to be
one of my go to sports. Harder to pay attention to that and pay attention to hockey as close as I try to. Feel like I KIND OF have a handle
on the B1G and a few other teams. That's about it.

 

[The Ref]

No 1Q points +10000

 

[Mr.Pack]

No 1Q points +10000

Did you bet this?

 

[Good Posting Judge]

Dude, I paid in over 41K last year. I wish it was because I was such a great gambler. Hiding my head under the covers until I do mine now. That's the ONLY thing that I may be on board with Drumpf with. If he gets his cuts in place it will help my tax bracket. Not the single mother poor people who voted for him, but I could use the break.

T&P

 

[swirvenirvin]

AFC!

 

[lumpy19]

AFC!

Just what New England needs, home field advantage for the super bowl

 

[ChainsawU]

Mavs like Sunday. link

 

[The Ref]

Did you bet this?

 No - fictitious 

 

[The Ref]

Is there a tenancy for the patriots to call heads?

I have one site where calling heads went from -110 to -130

 

[ArbyMelt]

Is there a tenancy for the patriots to call heads?

I have one site where calling heads went from -110 to -130

where is it -130?

https://twitter.com/BradAllenNFL/status/826058384403075072

 

[Dan Lambskin]

where is it -130?

https://twitter.com/BradAllenNFL/status/826058384403075072

Hmmm I just put $100 down with my local at -125.  Can't bring myself to max it 

 

[Peyton Marino]

Hmmm I just put $100 down with my local at -125.  Can't bring myself to max it 

has anyone dibsed your leftover credit yet?

 

[swirvenirvin]

Poll on taxes I guess... So when claiming winnings what happens if IRS comes and asks for records.  Isnt claiming just as big as a red flag since anything over 5k in casino you get the little w2 or whatever it is.  So you are claiming winnings on offshore gambling which really isn't legal.

 

[lumpy19]

Here's my list, I took the weekend off and numbers look pretty beat up this morning so I think I'm mostly done

Brady o37 att -115

Coleman u55.5 rushing -115(2x)

Freeman u50.5 rec yards -115

Amendola u31.5 rec yards -115

Dion lewis u48.5 rushing -115(2x) and a bit on o34.5 -115

patriots win both halves +265

Falcons win both halves +340(better prices out there now)

teams combine for 11+tds +1200

Brady o24.5 comp -115(small bet on u26.5 -115 as well)

yellow gatorade +450

national anthem o120 second -165

falcons first challenge +100

julio o6.5 rec -115

edelman o7.5rec +130

Hogan o3.5 rec -115(2x)

malcom mitchell u30.5 rec yards -115

malcom mitchell u3 rec -125

atl total qb sacks u1.5 +145

Falcons def no td -210 & -240

Falcons first pass incomplete +190

Falcons team rushing o95.5 -130

Dion lewis u10.5 rush attempts -165

Longest td u50.5 yards +100

Shortest field goal o24.5 yards -130

Edelman o87.5 yards -130

total kick returns u4 +130

 

[lumpy19]

Poll on taxes I guess... So when claiming winnings what happens if IRS comes and asks for records.  Isnt claiming just as big as a red flag since anything over 5k in casino you get the little w2 or whatever it is.  So you are claiming winnings on offshore gambling which really isn't legal.

It doesn't matter if the funds were gained illegally, you still have to claim them.

FYI in 2010 I had a massive year, claimed 112k in gambling winnings and paid 35k in taxes.  Turbotax listed my audit risk as low even with that gambling chunk in there.

 

[Dan Lambskin]

has anyone dibsed your leftover credit yet?

I have seen the error of my ways and reconsidered my position 

 

[Dan Lambskin]

Poll on taxes I guess... So when claiming winnings what happens if IRS comes and asks for records.  Isnt claiming just as big as a red flag since anything over 5k in casino you get the little w2 or whatever it is.  So you are claiming winnings on offshore gambling which really isn't legal.

I'm much lower stakes than most of you guys so I'm not planning to claim my few K in Bitcoin deposits.  Willing to roll the dice

 

[Aaron Rudnicki]

note to self: Lambskin hates free money

 

[Dan Lambskin]

note to self: Lambskin hates free money

I'm kind of a ##### sometimes.  At least this time I don't have to worry about a bunch of yokels in the Midwest screwing me over

But anyway I went back and maxed it

 

[Peyton Marino]

local also has the actual coin toss vig-free right now.  lmk if any touts on that.  

 

[Dan Lambskin]

local also has the actual coin toss vig-free right now.  lmk if any touts on that.  

I saw something about the books always needing tails due to public always heavy on heads

 

[swirvenirvin]

I'm much lower stakes than most of you guys so I'm not planning to claim my few K in Bitcoin deposits.  Willing to roll the dice

Yeah once it starts getting higher and noticeable then it's time to think about it

 

[ArbyMelt]

unless you are a "professional gambler", don't you have to report all gambling winnings on "other income" on 1040, and then come back and itemize your gambling losses on schedule A??? You can't just put down a "net" number. Its a PITA, you have to keep all winnings and losses, just can't come up with a net number and add to income.

ETA: And if they audit you and you do it the wrong way, its gonna be an issue if you don't have all the itemized winnings and losses?

 

[swirvenirvin]

Here's my list, I took the weekend off and numbers look pretty beat up this morning so I think I'm mostly done

Brady o37 att -115

Coleman u55.5 rushing -115(2x)

Freeman u50.5 rec yards -115

Amendola u31.5 rec yards -115

Dion lewis u48.5 rushing -115(2x) and a bit on o34.5 -115

patriots win both halves +265

Falcons win both halves +340(better prices out there now)

teams combine for 11+tds +1200

Brady o24.5 comp -115(small bet on u26.5 -115 as well)

yellow gatorade +450

national anthem o120 second -165

falcons first challenge +100

julio o6.5 rec -115

edelman o7.5rec +130

Hogan o3.5 rec -115(2x)

malcom mitchell u30.5 rec yards -115

malcom mitchell u3 rec -125

atl total qb sacks u1.5 +145

Falcons def no td -210 & -240

Falcons first pass incomplete +190

Falcons team rushing o95.5 -130

Dion lewis u10.5 rush attempts -165

Longest td u50.5 yards +100

Shortest field goal o24.5 yards -130

Edelman o87.5 yards -130

total kick returns u4 +130

Yeah all those early bm ones way gone and nothing even close 

 

[swirvenirvin]

unless you are a "professional gambler", don't you have to report all gambling winnings on "other income" on 1040, and then come back and itemize your gambling losses on schedule A??? You can't just put down a "net" number. Its a PITA, you have to keep all winnings and losses, just can't come up with a net number and add to income.

Dunno, it's turbo tax for me so not sure.  I've been jumping around in the system but right now it's just net wins

 

[lumpy19]

unless you are a "professional gambler", don't you have to report all gambling winnings on "other income" on 1040, and then come back and itemize your gambling losses on schedule A??? You can't just put down a "net" number. Its a PITA, you have to keep all winnings and losses, just can't come up with a net number and add to income.

ETA: And if they audit you and you do it the wrong way, its gonna be an issue if you don't have all the itemized winnings and losses?

I'm not a tax professional but I believe you can't claim losses unless you file as a professional gambler which makes it even worse.

My father has been audited a few times, his experience was that it's a pain in the ### but if you're at least trying to do the right thing the IRS isn't going to hammer down on you. 

 

[Peyton Marino]

I saw something about the books always needing tails due to public always heavy on heads

RLM on tails!

 

[lumpy19]

RLM on tails!

Tails never fails

 

[ChainsawU]

Shaken, Not Swerved: Lessons in Drunk Driving

 

[Leroy Hoard]

local also has the actual coin toss vig-free right now.  lmk if any touts on that.  

Bet the house on tails!

 

[Dan Lambskin]

I'm not a tax professional but I believe you can't claim losses unless you file as a professional gambler which makes it even worse.

My father has been audited a few times, his experience was that it's a pain in the ### but if you're at least trying to do the right thing the IRS isn't going to hammer down on you. 

I have mine done by a tax attorney and I have gotten W2-G's from horse racing and have always claimed net losses up to that amount and he didnt have any issue with it

 

[Tiger Fan]

I have mine done by a tax attorney and I have gotten W2-G's from horse racing and have always claimed net losses up to that amount and he didnt have any issue with it

so for us online folks.....assume it's just honor system

 

[regularguy]

I'm not a tax professional but I believe you can't claim losses unless you file as a professional gambler which makes it even worse.

My father has been audited a few times, his experience was that it's a pain in the ### but if you're at least trying to do the right thing the IRS isn't going to hammer down on you. 

I know we discussed this in the old thread (RIP).  I am a CPA but NOT a tax professional so don't consider this anything more than a researched interpretation.  Personally, I count each day as a "session", either winning or losing.  End of the year, all my winning days are claimed as income and all losing days are itemized as gambling losses.  I roll any bonuses/promos into the income.  This sucks because it can really inflate your AGI which can cost you things like the child tax credit.  This is what I believe to be proper though. 

 

[regularguy]

so for us online folks.....assume it's just honor system

It is, but if you are depositing checks, Bitcoin, etc., they would expect the volume of $ to make sense given what you've claimed. 

 

[MarshallPlan]

RB has a line of Pats call heads and win game +110.  I can't find much info on what the Pats call. I know they are going to call it, I see that Slater called heads last year.  

Any idea here?

 

[regularguy]

RB has a line of Pats call heads and win game +110.  I can't find much info on what the Pats call. I know they are going to call it, I see that Slater called heads last year.  

Any idea here?

See the previous page, MP.  Apparently, NE expected to call heads as this is up to -600 at BM.

 

[MarshallPlan]

See the previous page, MP.  Apparently, NE expected to call heads as this is up to -600 at BM.

Great, thanks!

 

[Tiger Fan]

It is, but if you are depositing checks, Bitcoin, etc., they would expect the volume of $ to make sense given what you've claimed. 

 

[lumpy19]

RB has a line of Pats call heads and win game +110.  I can't find much info on what the Pats call. I know they are going to call it, I see that Slater called heads last year.  

Any idea here?

Congrats on the free $22!

 

[The Ref]

Congrats on the free $22!

Shark move is to bet the Atlanta ML and take home the $4

 

[MarshallPlan]

Congrats on the free $22!

Ha, I have another mirror book I can bet more on.  Unfortunately, I'm rooting against the Pats though.

 

[lumpy19]

I'm seeing a big difference in first offensive play of the game at a few books

Whats the consensus here?  Should run or pass be favored?

Bookmaker has NE pass -120/run -110 and ATL pass -160/run +130

I haven't researched it but if those are right pass should be favored, hmmmmm

 

[Timmypg]

I'm not a tax professional but I believe you can't claim losses unless you file as a professional gambler which makes it even worse.

My father has been audited a few times, his experience was that it's a pain in the ### but if you're at least trying to do the right thing the IRS isn't going to hammer down on you. 

I'm not a CPA but I'm tax certified. You can claim losses up the amount of your winnings. Therefore you can't take an overall loss but you can lower your winnings, professional or not.

 

[Peyton Marino]

the NYTimes picked up the NE heads/tails things now.  belichick is going to make his guys call tails just to spite everybody.

 

[Dan Lambskin]

the NYTimes picked up the NE heads/tails things now.  belichick is going to make his guys call tails just to spite everybody.

If that happens and my luke Bryan props go badly I probably won't even watch the game 

 

[Dan Lambskin]

Also would be fun explaining to the family why I just yelled YOU MOTHER ####ERS when the game hasn't even started yet

 

[lumpy19]

Also would be fun explaining to the family why I just yelled YOU MOTHER ####ERS when the game hasn't even started yet

My daughter(6) asked me what betting was the other day.  I always explain to them that I'm working when I'm on the computer but I think those days are soon numbered.  I have no idea how I'm going to explain my excessive gambling to my kids.

 

[MarshallPlan]

I'm seeing a big difference in first offensive play of the game at a few books

Whats the consensus here?  Should run or pass be favored?

Bookmaker has NE pass -120/run -110 and ATL pass -160/run +130

I haven't researched it but if those are right pass should be favored, hmmmmm

I researched this, on my way home.  I'll send you the info in 30 mins.  

 

[jamil]

My daughter(6) asked me what betting was the other day.  I always explain to them that I'm working when I'm on the computer but I think those days are soon numbered.  I have no idea how I'm going to explain my excessive gambling to my kids.

"You like Disney world don't you? Ok Now go have some fun."