Feds increase pressure on big players

Question

Walters is not alone it seems the pressure is ratcheded up with IRS cash slips at the windows in Vegas. A comman race track trick having a bet made and collected by unknown runner who can handle a tax slip.Untill know very little pressure has been put on the "beards" who do this type work but it appears things are changing making it less worthwhile every day to stay in the high stakes game. After all really how many high stakes gamblers really need to take the risk... not that many.Curiously  with the Billy Walters 60 minutes interview recently, rarely has a high profile guy jumped out of the closet with a challenge to the Feds.I guess it&#x27;s a new age where quietly spreading ones action and staying under the radar is no longer considered desirable by publicity seeking person like Billy Walters and the result is more pressure on all large players.Thanks alot big mouth Billy

Bluefin · Answer

Walters is not alone it seems the pressure is ratcheded up with IRS cash slips at the windows in Vegas. A comman race track trick having a bet made and collected by unknown runner who can handle a tax slip.Untill know very little pressure has been put on the "beards" who do this type work but it appears things are changing making it less worthwhile every day to stay in the high stakes game. After all really how many high stakes gamblers really need to take the risk... not that many.Curiously  with the Billy Walters 60 minutes interview recently, rarely has a high profile guy jumped out of the closet with a challenge to the Feds.I guess it&#x27;s a new age where quietly spreading ones action and staying under the radar is no longer considered desirable by publicity seeking person like Billy Walters and the result is more pressure on all large players.Thanks alot big mouth Billy

cd329 · Answer

I dont think billy walters uses runners to avoid paying taxes.He uses runners to get big bets down at the same time and cant go to sportsbook to sportsbook laying down the bets himself.

michaelpaul1 · Answer

f walters...who gives a shit...

Bluefin · Answer

true enough Billy pays a huge sum in taxes anyway but when you use a "beard" to make your play and collect it and file a tax slip under his own name you are not claiming that transaction or filing a separate tax slip under your own name for the cash transaction.

My point was not a tax one anyway as being able to place wagers and lots of large wagers has always been extremely difficult and requires tons of stealth.

Billy has killed the stealth with his mouth.

If you had a "beard" who you were using and all of a sudden he see's another" beard" taking the fall for some big mouth like Walters how anxious fo you think he would be to do it for you, even if you have never had a problem and he feels no heat from those watching you he know must understand that he is also now a target.

NoWorries21 · Answer

Actually it is a combination or the 2 and also many big gamblers do not want others to know who they are. There is a bit of a mystique to those playing games for 10&#x27;s of thousands of dollars.

cd329 · Answer

You dont know much about billy walters to think he is seeking public attention. He didnt go to 60 minutes the show came begging to him. He didnt even want to do the interview because he doesnt do interviews and hasnt for years and years.

Also is this somehow going to effect your wagers? Cause i doubt your making 10k collections everyday

Bluefin · Answer

Billy Walters fella has been an asswipe in the golf world for years and he can't play a lick.He wouldn't be let into a decent club so he buys his way in, socially Billy Walters is just shy of dog excreament and why you say because of his mouth.

There are many coordinated groups of players that for years have moved large amounts of money in and out of Vegas through runners and "agents" you think Billy Walters was the first.This is more difficult now because Billy couldn't resist going public. Obviously they have known about runners,"beards",and betting agents for years and have overlooked them for the most part and not followed up to aggressivley on those who didn't shall we say, make waves, if you signed a slip thats as far as it went if you declared your earning at the end of the year the "feds" or gov let you alone... until Mr. Walters 15 minutes of fame, this has caused many much consternation. For the union "beards" who are saying why should I take the hit when I only got 10% the option is roll over or get squashed. My point is what was comman place and realitvly safe is now not so easy and certainly no longer secure in the least.

drJ · Answer

in 2005 i was still getting picks from this guy on friday am and id go lay a dime on all 7 picks.  he hit low 60&#x27;s to high 60&#x27;s every year and he knew nothing about football.  as it turns out he got his from some guy with a program who had made a 30 yr living at it.  well my buddy strted using beards in the late 90&#x27;s with 5 dimes a play and did real well with often 50-100 grand in action each weekend.  then his friend shut it down and retired as the information age had started leveling the playing field.  the retired dude usually had 200 grand in action combined on these 6-8 games.so one day im placing these bets and some worm crawls out of the back and confronts me asking me who i work for and what my name is and being rude as well as threatening to call the cops.  my first statement was the cops would be called as well as an ambulance if he kept being rude as well as the inconvenience of eating through a straw for a month.  i also asked the guy behind the counter if he wanted his usual nice 20-40 tips and would vouch for the fact that i was just a degenerate gambler and not some runner.  i told the worm.....who got real polite real quick....that i got tips from a friend and bet them for myself.....he asked who it was and i told him thats not his business and to make better lines if he doesnt like being beaten.my winning percentage dropped like a lead balloon after i stopped getting those games, 2006 sucked.   now im just a degenerate that expects to lose the vig most football seasons, slightly up this year but not like the past.

Bluefin · Answer

The advantages of being a professional gambler are far outweighed by the dis advantages these days regardless of the quality of your pics or the size of your play and it's because of guys like Billy.

If you do this on almost any level large enough for a 10 slip it's a huge pain in the ass.Most fools on here have no clue.

catmur9 · Answer

&#xD;&#xA; &#xD;&#xA;The only smart thing i&#x27;ve seen you say.

catmur9 · Answer

&#xD;&#xA; &#xD;&#xA;Are you really that dumb?  No interview, no 60 Minutes segment, of course he wanted in.

powerade · Answer

&#xD;&#xA; spoken like you are betting thousands and thousands yourself

cd329 · Answer

[Quote: Originally Posted by catmur9]  &#xD;&#xA; &#xD;&#xA;Are you really that dumb?  No interview, no 60 Minutes segment, of course he wanted in.  [/Quote]Really are you stalking me from thread to thread now.  Shut the fuck up. The guy hasnt given interviews his whole life and wasnt gonna give that one.  What did he have to gain from giving an interview, you dumb ass. Oh thats right you are now an expert on billy walters, yet you didnt even know he hasnt done interviews.Really get lost and stay off my jock strap, friggin stalker

cd329 · Answer

[Quote: Originally Posted by powerade]  &#xD;&#xA; spoken like you are betting thousands and thousands yourself  [/Quote]Isnt that some funny stuff Powerade?  Blue fin is pissed beacuse now his runners are gonn ahve to tell the books all those 10k wagers belong to bluefin.This site does get funnier and funnier each day.  A day doesnt go by where some poster makes me laugh my ass off.When i grow up i for sure want to be like all the huge bettors we have on this site

JonnyTwoTime · Answer

Money Mayweather begs to differ

chilitokid · Answer

[Quote: Originally Posted by Bluefin]  true enough Billy pays a huge sum in taxes anyway but when you use a "beard" to make your play and collect it and file a tax slip under his own name you are not claiming that transaction or filing a separate tax slip under your own name for the cash transaction.&#xD;&#xA;My point was not a tax one anyway as being able to place wagers and lots of large wagers has always been extremely difficult and requires tons of stealth.&#xD;&#xA;Billy has killed the stealth with his mouth.&#xD;&#xA;If you had a "beard" who you were using and all of a sudden he see&#x27;s another" beard" taking the fall for some big mouth like Walters  how anxious fo you think he would be to do it for you, even if you have never had a problem and he feels no heat from those watching you he know must understand that he is also now a target.  [/Quote]I don&#x27;t understand why this would be a big deal because the IRS is getting their tax cut.

catmur9 · Answer

Please tell me who made him give the interview on 60 Minutes.

Jelax · Answer

&#xD;&#xA;Chilito - Do you know if gambling earnings are taxed at a different rate than income taxes?  That&#x27;s my only thought as to why it could matter to the IRS.  Also, if 10 guys are winning 5k each and none of them are declaring income the IRS might be a bit perturbed.

Bluefin · Answer

It is violation of the Ricco Act to move over 10 thousand dollars in service to another without proper documentation.

Drizle · Answer

This whole episode sounds more like sour grapes on the Golden Nugget&#x27;s part.  If the Feds were really interested in going after Walters, why wouldn&#x27;t they take down his whole network of runners in that town?

cd329 · Answer

you really are a dumbass. are you like 17 or something.Its probably his first interview in his life and yes he gave it, but am sure he didnt do it because he was seeking attention.One of the reasons he said for finally giving a interview was he wanted to talk about the crooks on wallstreet

chilitokid · Answer

[Quote: Originally Posted by Jelax]  &#xD;&#xA;Chilito - Do you know if gambling earnings are taxed at a different rate than income taxes?  That&#x27;s my only thought as to why it could matter to the IRS.  Also, if 10 guys are winning 5k each and none of them are declaring income the IRS might be a bit perturbed.  [/Quote]I haven&#x27;t been out to LV for a couple of years but when I go down to the casinos in Connecticut and win more than $1195 I am filling out a 1099R form on the spot. If someone in LV wins, especially a wager over $1k, they most likely filling out a 1099R form also. If they choose to not pay it at tax time that is why people go to jail for tax evasion. My point is somebody is cashing those tickets and paying taxes on them. Now if a &#x27;runner&#x27; is placing a wager for $5k, getting a few hundred for their services, cashes the ticket and does not have taxes with held, and at tax time owe more than they were paid, there might be an issue buts its the &#x27;runners&#x27; problem for being an idiot.

chilitokid · Answer

Is that at one time or for a calendar year?

NoWorries21 · Answer

I would usually completely agree but go look at this guys posted plays. Golf only I think. I can guarantee he is one of if not the largest players on here.

catmur9 · Answer

&#xD;&#xA; &#xD;&#xA;If you can&#x27;t have a serious conversation why do you keep piping in? I asked a legitimate question and you answer like a 2 year old whiney baby. Exactly what is your problem with interacting with fellow humans?&#xD;&#xA; &#xD;&#xA;Again, no one forced him to appear on camera and no one forced him to answer questions posed by the media. Why?&#xD;&#xA;I would like someone besides you take on this question. Thank you.

Feds increase pressure on big players

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