need some advice! Just won $200,000+ in beted.com

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Author: [General Discussion] Topic: need some advice! Just won $200,000+ in beted.com
boberts427 PM boberts427
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quote#176
Posted: 6/23/2010 8:31:56 PM
John_Drama PM John_Drama
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quote#177
Posted: 6/23/2010 11:24:59 PM
QUOTE Originally Posted by IronPicks:

SMALL UPDATE

The Good.
Beted.com has shown awesome customer service so far.
I'm sure it has to do with the unique situation, but props to them for the awesome service, anyways. After those early 24hrs where I didn't get any response from them, and I was scared thinking I was being blown away, everything has been great. It was all validating and making sure it was a genuine winning bet.
My account is fully cleared. I can bet normally, No restrictions, All good.
The accounts manager personally called me to congratulate me and talk about my withdrawal options. All is good.

The not so Good.
Unfortunately, they will not make any exception for my account. I will not get a large lump sum of the money like I wanted. I'm forced to receive the weekly $3000 limit. That's it. Not negotiable.
Don't get me wrong, $12,000 a month will make me think my day job is a waste of time, but I had important plans that involved having the larger sum available in the coming weeks. Not happening. Move on.

The Bad
Regarding my transaction, nothing so far.
I'm not going to go all out and personally recommend the site, since I haven't received a penny yet. But everything has worked out fine so far.

They still need to fix that misleading limit in the software. I couldv'e won the same $150,000 limit making an 8 team bet and still wouldv'e won the same max $150K, but instead my odds were much worst in a 10-teamer. That glitch in the software only benefits them, and hurts the player that believes he will get the payout their software says they will win.


Sidenotes
Thanks for everyone's advice, getting an accountant is great tip.

A few things:
I WILL pay my taxes, I'm not crazy. This could turn into a horror story if I don't.
I WILL visit an accountant to clarify a few questions I still have, and to see what is my best move in this situation.
I WILL (at least for the near future) use a 2nd book for some of the  betting I do. My trust in Beted.com is still good, I will still support them, but I don't want to put all my eggs in one basket. Is unlikely I will win this big again, but if I win any large bet again I would want it to be in a different book, at least for the next 12-13 months. (damn 3k limit!).


I WILL NOT be playing anymore $500 10-team parlays again, of course. 








1. after I saw this thread and read their rules I didn't see any $150k Max payout. On the same hand I didn't see 3K per week payout but I just scanned through. 

2. 12k a month is great take it all day long. 

3. set up an off shore account with a tie in ATM account in the US. j/k I am sure your accountant will advise you better but hire a good one. 

4. smart paying your taxes. and be sure to track you bets this year and deduct your loses. 

5. I hope in 2 years you are still enjoying your funds. 
MoneyShot PM MoneyShot
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quote#178
Posted: 6/24/2010 12:15:03 AM
Dr_Y PM Dr_Y
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quote#179
Posted: 6/24/2010 12:35:59 AM

Wow... congrats, man! Read the thread last night but just got this in my e-mail inbox from BetED:

http://www.beted.com/promland/0714/0714_150000_Parlay_Winner_JoseC.aspx

currennelson PM currennelson
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quote#180
Posted: 6/24/2010 3:11:20 AM
16) BET ID=315992112
05/13/10 01:49 ET
Result: Wager Won
Cardinals(StLouis) Carpenter 1 05/13/10(13:40 ET)
Astros(Houston) +230
Orioles(Baltimore) Millwood 6 05/13/10(12:35 ET)
Orioles(Baltimore) +115
Rockies(Colorado) Chacin 05/13/10(20:40 ET)
Under 9.5
Tigers(Detroit) Verlander 6 05/13/10(13:10 ET)
Tigers(Detroit) +110
Celtics(Boston) 94 05/13/10(20:10 ET)
Celtics(Boston) -1
currennelson PM currennelson
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quote#181
Posted: 6/24/2010 3:12:21 AM
16) BET ID=315992112
05/13/10 01:49 ET
Result: Wager Won
Cardinals(StLouis) Carpenter 1 05/13/10(13:40 ET)
Astros(Houston) +230
Orioles(Baltimore) Millwood 6 05/13/10(12:35 ET)
Orioles(Baltimore) +115
Rockies(Colorado) Chacin 05/13/10(20:40 ET)
Under 9.5
Tigers(Detroit) Verlander 6 05/13/10(13:10 ET)
Tigers(Detroit) +110
Celtics(Boston) 94 05/13/10(20:10 ET)
Celtics(Boston) -1
seattleseahawks PM seattleseahawks
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quote#182
Posted: 6/24/2010 3:14:13 AM

WOW!!! Congratulate Jose!  Can't wait to one day hit the big pot like you do.  I do hit 6 or 7 teamers here and there but with only $100 or $200 bet...never $500 yet. 

Again BIG Congrat  

smokin376 PM smokin376
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quote#183
Posted: 6/24/2010 9:40:37 AM
QUOTE Originally Posted by superbeets:

LOU does alot for this forum and the next time I see you cracking jokes on his behalf, your account will be suspended...

here I will add one more smiley face for you

 

Why? Since when can someone not voice there opinion on a chat forum? I think this whole thing is a lie from the bottom up, So what? Because you guys have someone that comes on the forum named "LOU"  and says somethings real and not fake, so we should just all believe the things we see on the internet everyday that are NOT proven? I dont think so, but I will stop poking fun at "LOU" if its that much of a distraction.  

callmetim PM callmetim
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quote#184
Posted: 6/24/2010 9:47:38 AM
QUOTE Originally Posted by IronPicks:

SMALL UPDATE

The Good.
Beted.com has shown awesome customer service so far.
I'm sure it has to do with the unique situation, but props to them for the awesome service, anyways. After those early 24hrs where I didn't get any response from them, and I was scared thinking I was being blown away, everything has been great. It was all validating and making sure it was a genuine winning bet.
My account is fully cleared. I can bet normally, No restrictions, All good.
The accounts manager personally called me to congratulate me and talk about my withdrawal options. All is good.

The not so Good.
Unfortunately, they will not make any exception for my account. I will not get a large lump sum of the money like I wanted. I'm forced to receive the weekly $3000 limit. That's it. Not negotiable.
Don't get me wrong, $12,000 a month will make me think my day job is a waste of time, but I had important plans that involved having the larger sum available in the coming weeks. Not happening. Move on.

The Bad
Regarding my transaction, nothing so far.
I'm not going to go all out and personally recommend the site, since I haven't received a penny yet. But everything has worked out fine so far.

They still need to fix that misleading limit in the software. I couldv'e won the same $150,000 limit making an 8 team bet and still wouldv'e won the same max $150K, but instead my odds were much worst in a 10-teamer. That glitch in the software only benefits them, and hurts the player that believes he will get the payout their software says they will win.


Sidenotes
Thanks for everyone's advice, getting an accountant is great tip.

A few things:
I WILL pay my taxes, I'm not crazy. This could turn into a horror story if I don't.
I WILL visit an accountant to clarify a few questions I still have, and to see what is my best move in this situation.
I WILL (at least for the near future) use a 2nd book for some of the  betting I do. My trust in Beted.com is still good, I will still support them, but I don't want to put all my eggs in one basket. Is unlikely I will win this big again, but if I win any large bet again I would want it to be in a different book, at least for the next 12-13 months. (damn 3k limit!).


I WILL NOT be playing anymore $500 10-team parlays again, of course. 









If they're paying you $3K/Week, they're banking on the fact that you're going to gamble it away. Don't be a sucker. If you take the long view, you'll be able to retire early. The value of $150K today, placed into the correct financial instrument, should get you to 7 figures in a relatively short period (depending on your taste for risk and aggression).


WHATEVER YOU DO, DON'T BE A SCHMUCK AND BUY A CAR.
tapnitruc PM tapnitruc
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quote#185
Posted: 6/24/2010 4:00:36 PM

Hey Ironpicks,

This question is just out of curiosity, but how many $500 6-10 team parlays have you made prior to this one?  I guess Im wondering if this was just a one-time thing (with the amt that is) and you basically were destined to hit it.  I worked at a sportsbook in vegas and this is truly a rare occurence, especially with the large amt.  Being the eternal optimist, I always wonder why it doesnt happen more.  Thats were the reality of it takes over, because I realize, for whatever reason it just doesnt.   

callmetim PM callmetim
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quote#186
Posted: 6/24/2010 4:02:12 PM
Here you go Iron Man. These Tax Pros are at Deloitte. Drop them a line.

Chris BartonIrwin HalpernPaul EpsteinRichard Castanon
Tax Director  cbarton@deloitte.com  

Tax Director  ihalpern@deloitte.com  

Tax Director  pepstein@deloitte.com  

Tax Director  rcastanon@deloitte.com  

orangemen09 PM orangemen09
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quote#187
Posted: 6/24/2010 5:12:28 PM
QUOTE Originally Posted by Syddigs:



Why the darn would/should he play it safe when he has just won $150K. That's called being a box. So you are OK with him having $500 parlays prior to him wining 6 figures, but then you should think he should turn box after cashing that large ticket?

Until you win $150K what makes you think you should be offering this guy advice? This guy wins $150K and for some ridiculous reason you think he wants/needs your gambling advice. How deluded is that? You should be asking him for advice.

The only good advice offered has been from those recommending that he seek tax advice and other assistance on how to get his money with the least Govt interference.

call it being a box or whatever you want, i am not saying stop gambling i am just saying don't bet it all back!!! really what does he have to gain? dude just won a $150,000. he has hit the high point, there really isn't no way to go except down from here. that is a great win and 9 out of 10 times after a winning week comes a losing week!!  just don't want him to give it back to the casino!!!  ever been up a couple grand with the book on wednesday and then by saturday or sunday, you are even or losing money? that is the worst feeling in the world. like $2,000 wasn't good enough, i wanted $10,000!!!  it wall went down hill when i got greedy. just don't want him to gt greedy and give back most of his money!!!!!

heatformer PM heatformer
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quote#188
Posted: 6/24/2010 5:19:20 PM
orangemen09 PM orangemen09
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quote#189
Posted: 6/24/2010 5:19:46 PM
invest it wisely brother!! of course you need to take some of that money and live it up a little bit!! take a nice vacation and spoil some of the people close to you!!  enjoy brother, great win!!!
mrusso PM mrusso
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quote#190
Posted: 6/24/2010 5:21:41 PM

Ironpicks, congratulations, the football version of the lottery, 10 team parlay. Screw the naysayers that have responded in this thread. It seems to me that you have handled this maturely and humbly. Would have been real easy to be cocky and arrogant and tell everyone to get screwed, but you didn't. I'm guessing you're just a regular guy who got lucky, and is aware enough to know just that. Probably someone I'd have a beer with. Congrats'  again!

howdy73 PM howdy73
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quote#191
Posted: 6/24/2010 6:05:00 PM
Hey Ironpicks, congrats darn all those hater people that called u a liar. They are just a bunch of worthless LOSERS.  ALL you did was ask for advice and certain users decided to bash you on your win. Its not Bullshit just because it is rare as hell, like Haleys Comet it comes around every once in a while. just because those haters dont have the balls to try it once in a while. I missed a 9 team football parlay by 1 team so its not impossible. Not wise to regularly do it but BALLSY. CONGRATS AND TO ALL YOU HATERS GO GET HIT BY A SPEEDING BUS. ITS PEOPLE LIKE YOU HATERS THAT MAKE ME SICK. WHAT RETARD WOULD BRAG ABOUT SOMETHING LIKE THIS IF IT WASNT TRUE, WHAT DOES HE GET OUT OF IT. NOTHING!  CONGRATS IRONPICKS SPEND IT WISELY,  darn ALL THE HATERS!
dillon24 PM dillon24
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quote#192
Posted: 6/24/2010 6:39:39 PM
QUOTE Originally Posted by Dr_Y:

Wow... congrats, man! Read the thread last night but just got this in my e-mail inbox from BetED:

http://www.beted.com/promland/0714/0714_150000_Parlay_Winner_JoseC.aspx

looks pretty valid to me.. good job and congrats

dillon24 PM dillon24
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quote#193
Posted: 6/24/2010 6:41:53 PM
garbage, just the fact that the orioles won shoulda got you the bonus 50k
The Giant PM The Giant
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quote#194
Posted: 6/24/2010 7:09:47 PM

Amazing thread.

Amazing story.

Amazing amount of jealousy shown by a few paranoid insignificant losers.

 

Awesome stuff, IronPicks. Congrats.
icenuck PM icenuck
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quote#195
Posted: 6/24/2010 7:21:08 PM
TRAIN69 PM TRAIN69
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quote#196
Posted: 6/24/2010 7:32:32 PM
QUOTE

Originally Posted by callmetim:




If they're paying you $3K/Week, they're banking on the fact that you're going to gamble it away. Don't be a sucker. If you take the long view, you'll be able to retire early. The value of $150K today, placed into the correct financial instrument, should get you to 7 figures in a relatively short period (depending on your taste for risk and aggression).


WHATEVER YOU DO, DON'T BE A SCHMUCK AND BUY A CAR.

Really? Retire on 150k win? 7 figures? You know a way to get 7x your investment? In todays market that 150k could also be 50k in a short amount of time....

Whalewatcher PM Whalewatcher
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quote#197
Posted: 6/24/2010 8:19:50 PM

This thread just proves how many haters are really out there. It's too bad you need to filter thru all the BS to find some positivity. Another reason why any of you negative people reading this lose so often, you're bitter, I don't get it, it's a great story and it's great for sports betting. 99% of y'all need to put down that haterade and be happy for someone other than yourselves.

Nice job Iron.P!!  

Barbarossa PM Barbarossa
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quote#198
Posted: 6/24/2010 8:25:02 PM
Congratulations , manĀ 

i followed your threads from the very beginning on SRB and here ,

and i am very happy for u it turned out well !

very good to see that BetED is an honest sportsbook , i will sign up with them , seems like they have a great management !


FrozenTundra PM FrozenTundra
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quote#199
Posted: 6/24/2010 8:41:22 PM

You definitely have to get advice, but I would avoid taxes, the government collects too much already.

I'm assuming Beted is an offshore account.  If yes, you need to have the money wired offshore say Panama and take a flight down and get your money in large amounts.  Sorry, many won't agree, but use the loop holes. Also, since you've won the money, you have yet to receive it in your hands, so it's not taxable as you could technically lose it all. 

Talk to an advisor, maybe you can have in invested in some investment option in your IRA (I think that's what Amercians call in) and since it's direct and not thru your hands, there is no tax.

Bottom line...avoid the taxes. Beted already collect 75k in taxes by short changing your win. Don't lose another 50%.

Your next move is HUGE, think about it carefully.

tim1604 PM tim1604
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quote#200
Posted: 6/24/2010 9:35:46 PM
glad to hear things worked out.  Hope you get paid soon, enjoy it!
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