Re: GENIUS IDEA
 

Admittedly, many of my assumptions were stupid; I just didn't have the time to work out all the intricacies.

The fact remains that this is not a +EV idea.

Re: GENIUS IDEA
 

i have thought about this before, only my thought is to do it live

play in the casino for X hrs -- get comped for it, etc, important key is to have the casino track your play.

maybe count cards, maybe not, whatever

regardless of what happens, the loss reported to IRS ends up being worse than your expected loss for X hrs but within like 1-1.5 std dev (and X hrs at flat bet of Y is confirmable by IRS with casino?)

???

Re: GENIUS IDEA
 

[ QUOTE ]
play in the casino for X hrs -- get comped for it, etc, important key is to have the casino track your play.

[/ QUOTE ]

That way you can pay taxes on all of your comps, that rules.

Re: GENIUS IDEA
 

[ QUOTE ]
[ QUOTE ]
play in the casino for X hrs -- get comped for it, etc, important key is to have the casino track your play.

[/ QUOTE ]

That way you can pay taxes on all of your comps, that rules.

[/ QUOTE ]

comps < expected loss or do you have something worthwhile to add

Re: GENIUS IDEA
 

[ QUOTE ]
Maybe if you were slightly above a high tax bracket, you could force yourself to write off a loss to avoid the extra taxes. But I know nothing about anything.

[/ QUOTE ]

FYI higher tax bracket doesn't mean all of your income gets taxed at a higher rate, just the part that's above the bracket threshold. That's why it doesn't make sense to "write off a loss to avoid the extra taxes".