$1000 bankroll?

**Mr2Project** · 08-10-2012, 08:20 PM

Well im looking at taking this hobby more serious and have set aside $1000 for an initial br. I know this is small but for me coming from taking $40-60 to casino's to just play for "fun" this is quite the step for me. I plan on playing on $5-$10 tables. I would keep all the winnings in this br to let it grow and continue to grow to play in bigger games. Am i just too optimistic w/ this small of a bankroll and just look for another hobby, or can doubling this be done?

**Anton Chigurh** · 08-10-2012, 08:46 PM

You're toast. No chance. You will lose it all.

It would be better to take $20 of that money and buy your first blackjack book.

**AussiePlayer** · 08-10-2012, 10:23 PM

Originally Posted by neemo6

have set aside $1000 for an initial br. I know this is small

No, $10,000 is a small bankroll. $1,000 is not a bankroll at all.

**MannyOlaer** · 08-14-2012, 11:15 AM

Originally Posted by AussiePlayer

No, $10,000 is a small bankroll. $1,000 is not a bankroll at all.

You must be joking! I have been playing blackjack for 32 years and all I need is $500. Playing $5 - $1,000 table. Of course, It's a small time play using my betting strat. But, in the long run, Winning $50 a day or more tax free plus a complimentary rooms, cocktails, buffet, etc. will keep you coming back. But, It's hard to control our emotions and this is casino main attractions to separate the fools from their money. Open a private vault safe deposit boxes that are not associated with a bank account and do not constitute a “financial account,” they are not FBAR reportable.

KJ · 08-14-2012, 12:50 PM

Originally Posted by MannyOlaer

You must be joking! I have been playing blackjack for 32 years and all I need is $500. Playing $5 - $1,000 table. Of course, It's a small time play using my betting strat. But, in the long run, Winning $50 a day or more tax free plus a complimentary rooms, cocktails, buffet, etc. will keep you coming back. But, It's hard to control our emotions and this is casino main attractions to separate the fools from their money. Open a private vault safe deposit boxes that are not associated with a bank account and do not constitute a “financial account,” they are not FBAR reportable.

For the record, it is not tax free winnings. You are supposed to pay taxes on it.

**Coyote** · 08-14-2012, 03:03 PM

Originally Posted by KJ

For the record, it is not tax free winnings. You are supposed to pay taxes on it.

Right you are KJ.
That is why you should keep accurate records and log your wins and losses in case of an audit.

**zengrifter** · 08-14-2012, 11:01 PM

User is banned, content deleted.

**Cougfan** · 12-24-2015, 08:19 AM

Originally Posted by KJ

For the record, it is not tax free winnings. You are supposed to pay taxes on it.

C'mon man, everything is tax free as long as you don't mind committing a few felonies here and there.

**Tom** · 08-14-2012, 03:19 PM

Originally Posted by MannyOlaer

Open a private vault safe deposit boxes that are not associated with a bank account and do not constitute a “financial account,” they are not FBAR reportable.

So....let me get this straight......somebody who was tasked to catch the "bad guys" is now suggesting players intentionally evade taxes?

**Norm** · 08-14-2012, 05:05 PM

Originally Posted by Tom

So....let me get this straight......somebody who was tasked to catch the "bad guys" is now suggesting players intentionally evade taxes?

Almost made the same post. Waited for someone else.

This site is about advantage play. Not cheating or violation of laws.

**Jabberwocky** · 12-18-2015, 03:00 PM

Originally Posted by Tom

So....let me get this straight......somebody who was tasked to catch the "bad guys" is now suggesting players intentionally evade taxes?

Tax evasion is a crime. Tax avoidance is an AP move. It helps to be able to differentiate the two.

**Cougfan** · 12-24-2015, 08:22 AM

Originally Posted by Jabberwocky

Tax evasion is a crime. Tax avoidance is an AP move. It helps to be able to differentiate the two.

Using all available deductions is tax avoidance. Structuring your investments and expenditures so that certain deductions are available is tax avoidance. Tax avoidance is perfectly legal.

The suggestion was to intentionally not report taxable income. That is a crime.

**AussiePlayer** · 08-15-2012, 04:55 AM

Originally Posted by MannyOlaer

Open a private vault safe deposit boxes that are not associated with a bank account and do not constitute a “financial account,” they are not FBAR reportable.

Not only do you know nothing about blackjack, but you're now advocating the use of a private vault company who was practically put out of business after a huge robbery that would have been massive news in Las Vegas! Do you even live in Las Vegas?