Seriously IF I was him, I wont even thinking about hedging one penny and I believe he didnt hedge too.
First, its a big sum of money and not everyone got that cash.
Second, you never know what gonna happen lets say you hedge and for some reason you cant get the money from the wagerline then you are fuc*ked.
Third, its a free wager to win 100,000 so why bother whether if it wins or lose.
Anyway, what a nice run Dog. nice to get the $1000.
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To remove first post, remove entire topic.
Seriously IF I was him, I wont even thinking about hedging one penny and I believe he didnt hedge too.
First, its a big sum of money and not everyone got that cash.
Second, you never know what gonna happen lets say you hedge and for some reason you cant get the money from the wagerline then you are fuc*ked.
Third, its a free wager to win 100,000 so why bother whether if it wins or lose.
Anyway, what a nice run Dog. nice to get the $1000.
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I agree with you. I live in Vegas and if I ever get to that 20 win mark, I would not hedge. Hedging is for losers. If you win the 21st pick, you are out 50 thousand, then you have to pay about 35 percent of that 100,000 to the IRS which means you may come away with 15,000 in the clear. If you lose the 21st and win at the casino, a 50,000 bet will return you about 45,000, and after taxes you come away with 30,000. And as you say, what if you do win that 21st and there is a problem in collecting? Then you are out 50,000. I also dont have that type of money to throw around. As you say, its a free contest and so just ride it through that 21st. If you win, you win. If you dont, you have lost nothing.
I agree with you. I live in Vegas and if I ever get to that 20 win mark, I would not hedge. Hedging is for losers. If you win the 21st pick, you are out 50 thousand, then you have to pay about 35 percent of that 100,000 to the IRS which means you may come away with 15,000 in the clear. If you lose the 21st and win at the casino, a 50,000 bet will return you about 45,000, and after taxes you come away with 30,000. And as you say, what if you do win that 21st and there is a problem in collecting? Then you are out 50,000. I also dont have that type of money to throw around. As you say, its a free contest and so just ride it through that 21st. If you win, you win. If you dont, you have lost nothing.
I live in Vegas too, Zillagod. I humbly disagree with you. Hedging isn't for losers. Hedging ensures you get something back for your hard work. You lose #21 with nothing in return, winning the first 20 was a waste of time. I don't think you pay $35,000 in taxes off $100,000 or do you? Anyway, something is better than nothing. Why would there be a problem in collecting? It's easy to hedge here for sure. I'm sure anyone who is near 21 makes plans to hedge. There has got to be a bookie or someone rich willing to help one out, no? Anyway, just some thoughts...
I live in Vegas too, Zillagod. I humbly disagree with you. Hedging isn't for losers. Hedging ensures you get something back for your hard work. You lose #21 with nothing in return, winning the first 20 was a waste of time. I don't think you pay $35,000 in taxes off $100,000 or do you? Anyway, something is better than nothing. Why would there be a problem in collecting? It's easy to hedge here for sure. I'm sure anyone who is near 21 makes plans to hedge. There has got to be a bookie or someone rich willing to help one out, no? Anyway, just some thoughts...
Im in vegas too and your f***d bc you wont be able to get down at the number you want-- maybe 10-20k at the most at these chicken shit books!!||sad.gif' border=0>
Im in vegas too and your f***d bc you wont be able to get down at the number you want-- maybe 10-20k at the most at these chicken shit books!!||sad.gif' border=0>
You can get a couple of 15 or 20K wagers down in Vegas. I would have hedged 30K. I really hope freightdog did as well. People who think hedging 100K is for losers don't gamble with real money.
You can get a couple of 15 or 20K wagers down in Vegas. I would have hedged 30K. I really hope freightdog did as well. People who think hedging 100K is for losers don't gamble with real money.
He had an excellent chance to hedge at UNDER 8' with OVER 8/7'. Being guaranteed at least 30K by hedging (after figuring out 40% taxes on 100K)sounds like an excellent proposition to me. And if it somehow fell on 8 runs, he'd be golden. However, it may take a visit to at least 20-25 sportsbooks to accomplish this, but would be well worth it IMO.
He had an excellent chance to hedge at UNDER 8' with OVER 8/7'. Being guaranteed at least 30K by hedging (after figuring out 40% taxes on 100K)sounds like an excellent proposition to me. And if it somehow fell on 8 runs, he'd be golden. However, it may take a visit to at least 20-25 sportsbooks to accomplish this, but would be well worth it IMO.
Quoted from Dark Horse 21, "People who think hedging 100K is for losers don't gamble with real money."
In answer to this, I would say that this could be true, but mainly for people who have a problem with gambling. This is a free contest, you are wagering nothing. If you win, you win, and without hedging, you get the full amount. There is no risk involved whatsoever.
You just won 20 in a row. You dont have confidence in yourself to get one more? How are you going to feel when you win your 21st and you have gone out and wasted half of it on hedging? Thats my take on the matter anyway.
Quoted from Dark Horse 21, "People who think hedging 100K is for losers don't gamble with real money."
In answer to this, I would say that this could be true, but mainly for people who have a problem with gambling. This is a free contest, you are wagering nothing. If you win, you win, and without hedging, you get the full amount. There is no risk involved whatsoever.
You just won 20 in a row. You dont have confidence in yourself to get one more? How are you going to feel when you win your 21st and you have gone out and wasted half of it on hedging? Thats my take on the matter anyway.
People f the taxman. If you hedge in Vegas you keep the betting slips and you can deduct losses vs wins. Then you go around picking up lottery tickets or other sports wager stubs to increase those losses so they cancel out the win. Your a moron not to hedge at least 10-20k on it especially when you pick a game that has good juice on the other side. He picked as good a game as any and congrats to him.
People f the taxman. If you hedge in Vegas you keep the betting slips and you can deduct losses vs wins. Then you go around picking up lottery tickets or other sports wager stubs to increase those losses so they cancel out the win. Your a moron not to hedge at least 10-20k on it especially when you pick a game that has good juice on the other side. He picked as good a game as any and congrats to him.
qutgnt, the problem with your theory is that the $ won in a contest like this is treated differently for tax purposed than gambling losses. You can't deduct $ you lost gambling to offset the income gained from a contest. Basically, the IRS screws you either way.
qutgnt, the problem with your theory is that the $ won in a contest like this is treated differently for tax purposed than gambling losses. You can't deduct $ you lost gambling to offset the income gained from a contest. Basically, the IRS screws you either way.
Hedging is for winners because guess what.... you win.........not hedging is for losers because guess what....you can lose........you don't hedge half.....you hedge something like a quarter...you get something so you can at least go have a steak and buy a round of beers.............you at least hedge with the grand you won at 17.....geez...The all or nothing thought is with all due respect, insane....If someone gives you a scratch off and says, here, you have a fifty-fifty chance at 100,000 grand and you are walking out the door and then he says and here is another one that is a sure 20,000 winner..except if you win the first scratch off you have to give this back plus 20,000........what do you say?....No thanks?...............Wagerline is going to pay...this isn't a letter in the mail and a sleezy hard sell phone call.....friends, family, business partners, your local priest, can come up with some kind of money to make the opposite play......and maybe even get a middle..........You hedge because you are going to be limited to very iffy plays...................the prize is big enough to allow you that without losing your manhood....taxes are taxes and you figure that in to the equation ...YOU HEDGE.... final answer.......
Hedging is for winners because guess what.... you win.........not hedging is for losers because guess what....you can lose........you don't hedge half.....you hedge something like a quarter...you get something so you can at least go have a steak and buy a round of beers.............you at least hedge with the grand you won at 17.....geez...The all or nothing thought is with all due respect, insane....If someone gives you a scratch off and says, here, you have a fifty-fifty chance at 100,000 grand and you are walking out the door and then he says and here is another one that is a sure 20,000 winner..except if you win the first scratch off you have to give this back plus 20,000........what do you say?....No thanks?...............Wagerline is going to pay...this isn't a letter in the mail and a sleezy hard sell phone call.....friends, family, business partners, your local priest, can come up with some kind of money to make the opposite play......and maybe even get a middle..........You hedge because you are going to be limited to very iffy plays...................the prize is big enough to allow you that without losing your manhood....taxes are taxes and you figure that in to the equation ...YOU HEDGE.... final answer.......
On another economic note, I'm sure that a significant number of people on this site have a significant amount of credit card debt.....pay those off with your "loser" hedge bet and you'll get the taxes lost and more back over the next few years..................
On another economic note, I'm sure that a significant number of people on this site have a significant amount of credit card debt.....pay those off with your "loser" hedge bet and you'll get the taxes lost and more back over the next few years..................
I think he hedged and is keeping his mounth shut becasue a lot of small winning sports tickets in Vegas will not be reported to the IRS so why go online and tell the whole world you just collected 50K tax free????
I think he hedged and is keeping his mounth shut becasue a lot of small winning sports tickets in Vegas will not be reported to the IRS so why go online and tell the whole world you just collected 50K tax free????
AS a matter of fact he my be happy he picked a loser because you know if he had won Wagerline would hold out taxes, not to say I would do that intentionally, OR WOULD I?????
AS a matter of fact he my be happy he picked a loser because you know if he had won Wagerline would hold out taxes, not to say I would do that intentionally, OR WOULD I?????
I say you need to hedge on a 100k bet. espnzoneboy & little voice said it best. 25k on a underdog, 10/20 sportsbooks, Either way you come out with around 25k or 65k and not a goosegg. I live in vegas and zillagod is my brother and have tried to explain this many times. GL all and tuppy, No ov/un bets please, lol. ||an_cheers.gif' border=0>
I say you need to hedge on a 100k bet. espnzoneboy & little voice said it best. 25k on a underdog, 10/20 sportsbooks, Either way you come out with around 25k or 65k and not a goosegg. I live in vegas and zillagod is my brother and have tried to explain this many times. GL all and tuppy, No ov/un bets please, lol. ||an_cheers.gif' border=0>
If he is from Canada hedging is always possible, and if he DID go to Vegas even if he won all his bets with the sportsbooks, he wouldnt be able to bring all that cash back across the border without get raped in the ass.||an_shake.gif' border=0>
If he is from Canada hedging is always possible, and if he DID go to Vegas even if he won all his bets with the sportsbooks, he wouldnt be able to bring all that cash back across the border without get raped in the ass.||an_shake.gif' border=0>
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