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#101
05-11-2005, 05:02 PM
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Re: Don\'t be fooled!! The Rake is ......
[ QUOTE ]
[ QUOTE ] Look at how much money you made total playing $5/10 last month. Would you have made that money if the site didn't charge an assload of rake to let you play there? No. [/ QUOTE ] This is a silly argument. [/ QUOTE ] What I meant was, "If the site didn't charge you money, they wouldn't be in business, if they wern't in business, you would make zero money." 
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#102
05-11-2005, 05:24 PM
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Re: Don\'t be fooled!! The Rake is ......
[ QUOTE ]
[ QUOTE ] In my area, there are dozens of casino/ cardrooms and I don't think a single one drops more $3, and many of them have a $2 rake. [/ QUOTE ] Where exactly would this be? [/ QUOTE ] Seattle. I have mainly been playing online now, but the main live games I would play (up until a couple months ago) were the $20/40 at Muckleshoot (an Indian casino ~45 minutes south of seattle) which had a $3 rake, the $15/30 at Tulalip (an Indian casino ~45 minutes north of seattle) which had a $2 rake and I used to play the $10/20 at the Hideaway (a non-Indian cardroom about 15 minutes north of seattle) which had a $2 rake. Admittedly, two of the three of those also have a $1 jackpot drop, so you might want to add $1 to two of those, but I have equity in that so I don't view it as a full dollar being dropped. I haven't played at most of them, but there are lots of little cardrooms in Washington. Even the bowling alley near my house has a back room that always has $3/6 games going.
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#103
05-11-2005, 05:25 PM
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Re: Don\'t be fooled!! The Rake is ......
If your hotel was comped, you still have to pay for some of it.
Say the comped hotel room was worth $200. Then that's $200 profit you made, which results in about $66 (assuming 1/3 tax for simplicity's sake) that goes to uncle sam. The comped hotel is income. I've read about someone being hit 80 grand or so by the IRS for not reporting comped rooms/buffets.
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#104
05-11-2005, 05:28 PM
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Re: Don\'t be fooled!! The Rake is ......
The only person full of misinformation and ignorance is YOU. You have this wonderful ability to only see your little world and extrapolate that tiny portion to the whole community. At AP this month I've paid $280 in rake, my MGR is $360. I've beat that with bonus cleared alone. By the end of the month I'll be back to a regular schedule and clear over $1000 in bonus (maybe $1200). Rakeback is just gravey. This isn't that hard to figure out. There is a reason the Bonus Whores play lower limits - bonus > rake at lower limits. Bonus is a way to increase the bankroll while still developing as a player; rakeback just increases the BR quicker.
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#105
05-11-2005, 05:30 PM
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Re: Don\'t be fooled!! The Rake is ......
[ QUOTE ]
there is one (1) guy sitting at a table (LilVegas at a Guts table). [/ QUOTE ] Why don't more online cardrooms offer Guts [img]/images/graemlins/confused.gif[/img]?
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#109
05-11-2005, 07:38 PM
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Re: Don\'t be fooled!! The Rake is ......
Ahh you are right, true.
The only thing to realize is, if you take the free rooms, say twice a week, and didn't realize it was counted as income, you could be hit with an unexpected tax bill. I think it's different from getting paid $200 in cash, since if you were paid $200 in cash, you may decide to keep it instead of spending it on the hotel room. If you get the room comped, you don't realize you are spending "$200" that you've just been paid on the hotel room, and that you have to pay income on that $200. - Tony
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#110
05-11-2005, 07:56 PM
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Re: Don\'t be fooled!! The Rake is ......
True, but, that's a different discussion. I've had my fill of tax talk for the year. I'm still pissed at what I had to pay. One thing I don't need right now is another reminder of "perks" the IRS decides I need to give them a slice. It's frickin' protection racket.
One little comment. If anything it should be more along the lines of a Wal-Mart Buy one get one item of equal or lesser value "free". I bought X in chips I'm getting an item (room) of equal or lesser (it was lesser) value free. That would make sense and simplify the bookkeeping, hence it won't happen. Thanks, thwang, you'v managed to get my BP up. You in league with my wife? [img]/images/graemlins/tongue.gif[/img]
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