Anybody know anything about this new IRS law for poker tournament players where if you win a live poker tournament over 600.00, then they take your info and fill out the form and send it to the IRS? So any live poker tournament winnings over $600.00 gets sent up to the IRS?
Most of the cash poker rooms are outside the country. Any winnings would go to your account which is also outside the country. Can the US govt. force other countries to notify them of all withdrawls? If you are talking about b and m tourneys inside this country yeah I wouldnt put anything past them.
I don't know what you are talking about when you say most of the cash poker rooms are outside the country. Because they are mostly inside the country. They are mostly in USA. Not sure where you got your info from. They are all in Vegas. All the winnings do not go inside a foreign account. The winnings go right into the persons pocke the same minute they win it. Where did you get your false information from? You don't even have to give an ID if you play live poker in a live poker room in the USA. You just walk up and start playing. I'm talking about real casino tournaments that are legal. Las Vegas, and other American poker rooms. Live poker tournaments have nothing do with foreign countries. Live poker is legal in the USA. Las Vegas is highly regulated. And what is b and m tournaments you are talking about? Sorry but I think we are on a different page. Not sure what you are talking about.
I think he meant online cash rooms, which are all located offshore. B & M refers to Brick and Mortar poker rooms, as opposed to online poker rooms. http://forumserver.twoplustwo.com/postlist.php?Cat=&Board=cardroom
Yeah, the tipping can make a huge difference in your hourly rate, for sure. Enough to make all the difference at lower limits. Is it true that in Vegas tipping is not expected? It sure is up here (Canada), although we admittedly have very few poker rooms.
Ok thanks. I've been testing the demo's with the online rooms at full tilt and I can't win one hand when playing against other players for play money. So I won't be opening an account with real money any time soon.
I haven't heard that. I heard the poker dealers get tipped. Some people tip and others don't. The players that do tip will tip $1.00 out of the pot weather the pot is $20.00 or $2000.00. But that is just what I heard, so I don't know for sure. I hear the poker dealers earn about $150.00 - $200.00 a day in tips. Roughly about 50K a year. Then the rake comes out of that pot also. So I can see if the pot is really small like under $20.00, then the player won't tip nothing, because there won't be none left over for him after he tips and the rake comes out. But I heard they get tipped. I don't think it is a very good tipping job because they have a large turnover in poker dealers. But that is just what I hear.
Didn't I read somewhere that playing poker helps enhance your daytrading skills? I thought I read it on this forum. Maybe not.
I do agree that poker and daytrading are aligned together. At least for myself, I do see the improvement on emotional control and risk management
You are making a lot of wrong generalizations. ALL professional online poker players play between 4-12 tables at a time. Some of them are tight, and some of them are crazy loose. If you are checkraising with air vs. good players all the time you are going to lose money. Though this is something to do once in awhile to make the habitual "continuation bettors" think twice next time they are in a hand with you. The reason they continuation bet is because, quite simply, it is the most profitable way to play because people are going to fold most of the time when they miss and are bet into.