Originally Posted by Tom
Jackie Chan Cat
I'm glad everyone is enjoying themselves and gives so freely with the ridicule. It's hard to take you guys seriously.
The similar question on bj21 site (where they requested I not post anymore ) was given a serious response by a respected poster, some years back.
It's important to be exposed to similar questions in order to win against casinos. The more knowledge you have the better your chances of winning. There is no certainty in gambling even for counters. The few that do win are heavily bankrolled by someone else.
The only real difference between counters and non-counters is that they have simulators whereas non-counters don't. The reason being that the variety of betting systems is too many and requires special coding. The problem is easily solved if someone would produce an odds only simulator that would produce w (wins) l (losses) that is printed
out and the interested party could then apply his or her system to the printed form. Whoever does produce such a simulator will make a great deal of money, because 10 % of the woulds population gambles.
It's either the AP in me or the psychopath in me - I've never understood the moral problem of betting against a stock. You do your research, you bet the good ones and you bet against the bad ones. The price of the stock supposedly then better reflects its market value. Is the problem that it takes capital away from that business, causing layoffs and business failures?
Sorry if this is too much of a thread jack.
You have a point. But, it could work against you. If you consider the financial markets as simply casinos; then it could be argued that tax incentives currently given to the investment community should be replaced by the enormous taxes levied against casinos.
But, what bothers me more is that you are selling something that you do not own. Generally, your broker borrows it from a customer for whom the broker is holding securities. And typically, the customer does not know this. And, short-selling temporarily reduces the value of those securities. So, the broker is making money on a client’s assets in a transaction that can reduce the value of those assets.
"I don't think outside the box; I think of what I can do with the box." - Henri Matisse
Create a hedge fund. (Cost $10K to set up and register in the Cayman Islands.) The hedge fund does nothing but sell short, or use options to the same effect. Any money you make from that fund will be taxed at long-term capital gains tax rate, no matter what your total income, even if it is paid without waiting for the long-term period, and even though there is no actual investment in any business, and even if you do not risk any of your own money, but trade another investor’s funds and take a cut. I checked this with my accountant.
We're in the Disadvantage Forum. Not much here relates to Blackjack in a positive manner.
"I don't think outside the box; I think of what I can do with the box." - Henri Matisse
Most hedge funds are registered off-shore for other reasons. I just mentioned it because it goes into the cost of the setup. This does not avoid any US regulation if you are on-shore. The scheme also works if the fund is registered on-shore.
"I don't think outside the box; I think of what I can do with the box." - Henri Matisse
I just re-read your previous post and where you say "......even though there is no actual investment in any business, and even if you do not risk any of your own money, but trade another investor’s funds and take a cut."
Essentially, you are describing what every single bank in the world does. Banks trade and invest using customer's money then take profits from it. So how is that any different?
I'm talking about individual taxes, not corporate taxes. You can pull money out of this hedge fund, and pay long-term capital gains; even though there is no investment in an actual business (in fact the opposite since you're short-selling), and even if it is short-term. In other words, you get a tax incentive in the financial markets.
"I don't think outside the box; I think of what I can do with the box." - Henri Matisse
You see it as a dilemma when there isn't any. If those who can produce such a simulator, don't, then millions of gamblers stay ignorant and you are siding with the casinos against the players. If such a tool was available, it would enlighten many. You are also prejudging the intelligence of people, worldwide. Any revenues you would receive are justified because you've provided a valuable service.
Some benefits of such a simulator:
Being an odds only simulator, it would cover all games without simulating a specific game.
A player would only have to change the odds to see what a run off would probably look like.
A player would save a great deal of money because he would know ahead of time that he is likely to lose if he can't beat the run off.
Even counters might be curious after a losing session, wondering what the odds turned out to be in the actual session.
Hopefully someone else will do so if you decide not to. A honest simulator will produce true results, there is no fraud involved. If good people won't produce the products needed, then the fraudsters will.
Hoping you change your mind and at least consider the above.
jomoats
When you stop and think about it, that's a sad commentary on what makes the world go round. I'd like to think that some people actually believe in a product or business or the person behind either one, but besides the person him- or herself and a few friends and devotees, I suppose all anyone really cares about is the dollars and cents.
Aslan 11/1/90 - 6/15/10 Stormy 1/22/95 - 8/23/10... “Life’s most urgent question is: what are you doing for others?” — Martin Luther King, Jr.
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