Poker Training Network Review, How To Create Massive Texas Holdem Income

Can you blend playing winning poker and multilevel marketing to live a more abundant life?

This Poker Training Network review can assist you to decide for yourself. In reality, it will provide you with insight into how you can earn massive income through the explosive growth of poker.

Before we go any further, I have to say that when I started writing this review, I had no desire to join this opportunity. As I was finishing my thorough research, for this PTN review, I got very interested. Actually, I made the decision to become an associate. Read on to understand why.

Poker Training Network Review

Poker Training Network (PTN) went into prelaunch near the beginning of September, 2009. They entered the market as the and only business to blend network marketing with the massive global appeal of Texas Hold ‘Em Poker.

Over 2 years and millions of dollars have been invested in R&D on the most state of the art, dynamic, elearning, poker training site ever launched. It is full of 3D animation, 3D graphics, and it is totally about poker. It’s a lot of fun.

The Management Team

PTN has a very qualified leadership team with more than 150 years combined experience in network marketing, online marketing, website development, social networking, software development, educational training, video production operations, and professional Texas Hold ‘Em Poker playing.

The Poker Market

The poker marketplace is massive! There are about 70 million players in the United States and greater than 300 million globally. The market is increasing toward 500 million fast.

If you play poker you most likely know other poker players, who know other poker players.

If you do not play poker, you probably know somebody who does play and who knows other Texas Hold ‘Em Poker players, who know other poker players.

PTN Products

Poker Training Network has a complete online training product for everyone. It does not matter if you are a just starting, intermediate, or advanced player, PTN can help you learn the skill of Texas Hold ‘Em.

Poker-TEL gives you monthly access to world class training and education. Poker-TEL provides 100s of Texas Hold ‘Em Poker lessons with a lot more to come. PTN implements state of the art technology and a modern approach to learning.

PTN Poker Edge
Poker Edge is like your own special Texas Hold ‘Em Poker coach. You have access to various software tools that will coach you to evaluate your skill levels and guide you to improving your game.

Poker Training Network Business Opportunity

The PTN compensation plan is one of the most lucrative in the MLM business. It has a binary hybrid plan that pays cash five different ways. It includes Retail Sales, Team Commissions, Matching Bonuses, Advertising and Revenue Sharing Pools, Global Bonus Pools, plus a Luxury Car Program.

The economy has numerous talented people trying to find a way to increase or replace their income. And poker is a sport that most people love to play. PTN has a total online system to create a large national organization in the United States and soon to be worldwide.

Is This Opportunity For You?

Is PTN a business opportunity where you can have fun and live a richer lifestyle? Can you help others enjoy the sport of Texas Hold ‘Em Poker while you get wealthier?

Poker Training Network has a Facebook Poker Application that is in beta testing as I am writing this PTN review. That is big. It is an easy way to recruit people. Just ask them if they want to play and if they join up, you get the commission.

PTN has a proprietary online social networking Texas Hold ‘Em Poker site called It is the ultimate Internet based prospecting tool and lead generation engine.

PTN has a complete online recruiting system with awesome videos that sell PTN offerings and the business for you. PTN give you an online prospecting and contact management system as well.

There is no competition, no products to stock or ship. Everything is online. This can be a once in a lifetime opportunity for you. PTN is a remarkable business to be in.

You get to play a sport that is a lot of fun. You get to share PTN with others and you get to earn money from that.

All of these are the reasons why I enrolled in this business and you ought to as well.

Source by Jim Hageman

The Growth & Popularity of Slot Machine Games

We live within seven miles of an Indian casino. The casino opened fifteen years ago. At that time the slot machine games were three line nickel and quarter machines. There were a few dollar slots. All the slots were reel slots machine games. You played them by putting in coins one at a time and were paid in coins coming out into a tray under the machine.

Today there are slot machines that have as many as 100 lines. You can play any denomination from one cent to ten dollars. The slot machine games are now video games and are quite interactive. The machines make special sounds when you are winning and some of them even wish you luck when you hit the spin button. Today the machines accept all denominations of bills and pay you with a printed ticket that can also be inserted into another machine. There is still a sprinkling of the reel machines in the casino, but these are quickly being eliminated. Some people believe that the reel slot machine games had better odds than the video games; however the experts state that this is not true.

When the casino first opened there were more blackjack tables than slot machines. The building was little more than a steel shed with carpeting. Today there are over four thousand slot machine games, blackjack tables, poker rooms and a hotel with over six hundred rooms. There are four restaurants, a coffee shop, candy store and a full spa. They have also added on a conference center and auditorium. They host many big name concerts through out the year. They employ over eleven hundred people. This is quite an accomplishment in fifteen years time. Many people credit the advancements in the video slot machine games as the main reason why the casino is doing as well as it is.

There are bus loads of people that come to the casino on charter trips from the five state area. The casino has greatly improved the lives of the Native Americans that live in this area. They have built a new school, clinic and a great deal of housing. They have also built a government center and have re-established their tribal courts. There are many people that complain that they do not pay off well enough at the casino. They feel the slot machine games are set too tight. The gaming commission did sanction them last year for not paying off the proper percentage, but that does not seem to stop people from coming. We have heard that they are going to start a support program for people that have a problem with gambling.

Source by John Wellington

Are There Signs of Lying?

Are there clear signs of lying? Unfortunately, study after study shows that most people might as well flip a coin to determine if a person is lying, rather than trust their intuition or lie-detecting skills. However, the research also shows that some people ARE consistently good at detecting lies. That’s a rather important fact, and although it is typically ignored, it is not disputed by the researchers. They usually just mention it briefly, as though the small number of people who have these skills makes it insignificant.

Rather than brush them off as insignificant, it may be better to look at what these people are doing. Doesn’t that seem like a more useful approach? And when we look, we see that one thing these human lie-detectors do is to use what they know about the individual.

How To Tell If Someone Is Lying

When you watch for signs of lying, you need to use what you know about the behavior of the person. In other words, try to think like a polygraph operator, by comparing behavior in persons under suspicion to their “base” behaviors. Look for a change in behaviors that may indicate lying.

For example, if a man always moves around in his chair, then this trait can’t be considered as an indication of lying. On the other hand, if he is normally very calm under pressure, but starts shifting in his chair after certain questions, that is more likely to indicate lying. Always look for these personal habits and indications of lying.

By the way, this shows the flaw in the common scientific opinion which says you can’t tell if someone is lying. Most research tests for things like eye-avoidance or sweating or hand movements, and finds that none of them reliably indicate a lie. However, they are looking at indicators only statistically, based on a general testing of a group, without relation to any known character traits or habits of the individuals being tested.

I’ll use an extreme example to show the flaw in this approach. Suppose that out of a group of 100 people, 50 always looked away from you when they lied, and 50 always focused more directly on you when they lied. Those would be great indicators once you learned which people in the group had which behavior, right?

But a researcher asks the question, “Is looking away correlated with lying?” He has all 100 subjects lie when answering a question, and when 50 look away and 50 look right at the questioner, he determines that there is no correlation between looking away and lying. He’ll also note that there is no statistical correlation between direct eye-contact and lying. This is despite the fact that in our example all 100 people give clear indicators that they are lying.

You see, he is looking for “universal indicators.” It would be nice if there were some good universal signs of lying, some things that everyone did when lying. While there are some signs that are better than others, this approach has met with limited success. However, when you take what you know about the individual into account, you can do much better.

In fact, to take this to the next level, you should note exactly how a person behaves when he or she lies. That way, you’ll have a decent indication he or she is lying the next time you see that behavior repeated. The more personal indicators you are aware of, the more certain you can be that the person is lying.

Consider this: If such psychological “tells” or signs of lying were meaningless, there would be far fewer consistent winners in poker. There ARE consistent winners at poker, by the way, and they often win because they are good at spotting a “bluff.” (They also know the odds, of course). That is strong evidence right there that there are signs of lying which are useful.

Source by Steve Gillman

Horse Racing Handicapping Losing Streaks and Life

Did you ever wonder how other gamblers and horseplayers handle losing streaks?  I am in the middle of one, or should I say, hopefully near the end of one, as I write this.  Yes even old dinosaurs like me who have played the horses since the chariot races still go through losing streaks.

Let me tell you about my, “long dark night of the soul,” so that you may get something that will help you through your next rough patch.  I sell horse racing systems, but before I will put one on the market, I test them and actually play them myself.  That is how I manage to offer a no questions asked guarantee on everything I sell.

That is also why I try a lot of things in order to find that one right thing that works well enough to help a fellow horse player.  So that is why, on October 5th of 2009 I started working on a toteboard system that follows the money and hopefully will be profitable over the long run.  It is now November 6th, 2009 so I have been testing it for over a month.  I have 160% of my bankroll left, so I am ahead at the time of this writing.

However, I was at 230% of my bankroll just three days ago!  That means I have been on a nasty losing streak.  The worst part is, I have had such high hopes for this method of picking winners by following the money, but now I don’t know if I will lose back everything I have won.  It could have just been a fluke and this may be another blind alley, a dead end, I’ve certainly been down plenty of those while learning how to handicap horse races.

Should an old gray beard like me have so much trouble with a losing streak?  After all, I’ve had them so many times that I’ve lost count.  Of course, I’ve also had more than my share of winning streaks, too.  The answer is, no matter how many times you live through them, losing streaks are still the pits and test you over and over.  Handicapping horses for profit and really working at this business is a constant test and you are only as good as your last series of bets.  Do the winning streaks help?  Of course it helps to remember them as a reminder.

It doesn’t matter when you’re losing, though.  It starts to dominate your thoughts, especially as you watch the money slipping away and don’t know where the bottom is.  I suppose people who play the stock market feel the same way when it starts to slide.  We speculators can’t help but wonder, “Where is the bottom?”

The worse thing you can do is to go on what the poker players call, “Tilt.”  You have to keep your equilibrium and maintain a healthy attitude and lifestyle.  

First of all, don’t start the negative self talk.  Nothing will dig you into a pit faster than that internal dialogue that is negative or fearful.  Gambling and playing the horses is streaky, it is a fact of life and if this is the path you choose then you’d better be ready for it.  So chin up and shut up or start with the positive self talk, “Everyday in every way, I am getting better and better and this is just a stepping stone, however rough it may be, to success.”

It doesn’t matter if you totally believe it, say it anyway.  Like they say, “Fake it until you make it.”  Just as long as you are always honest with yourself about your winning and losing and the impact it has on you and loved ones.

Speaking of loved ones, that is another important part of living through a losing streak.  Stay connected with people.  Tonight I called my grandson and we talked about saxophones, martial arts, winter weather, and other things.  It helps to remember that there is a whole world out there filled with many things and sharing those things with others is the best way to clear your mind and stay upbeat.  It also means you’re not neglecting the ones you love and who love you.  It is bad enough that you are on a losing streak, don’t put them on one, too.

If you don’t have any close relatives or friends, then strike up a conversation with a stranger and talk about the weather, baseball, the government, anything that will start your brain working on something other than the track and losing or winning.  We humans are social animals and interaction with other people is like a healing balm, even if it is a little difficult to get a conversation going, even if what you really feel like doing is crawling into a cave and licking your wounds.  Look around yourself and see the world.

Tomorrow I am going on a day trip with my Sweetie and taking care of health related business.  That is another thing that you must do, take time off and get involved in something other than the track and gambling.  Have conversations, see different scenery and locales.

Finally, when you’ve aired your brain out enough and have given yourself time off, get back at it again with renewed resolve to make it.  Keep notes while you are gambling and know your ROI and what bets you have made.  Review everything and find your weak spots and strengths.  Be willing to admit your mistakes and also realize that sometimes it isn’t you or your method, gambling is just plain streaky.  If you can look at the long run, the big picture, and see that you are ahead at all, then you are very fortunate.

Making 10% profit over the long run is very good in this business, sorry if I just popped your bubble, but that is the reality of betting on horses for profit.  If you aren’t making it, that means you are one of many people who are in the process of becoming a successful horse player.  Stick with a good system, don’t bet with money you can’t afford to lose.  Take time off (people in all other lines of work do) and eat healthy food and exercise because we horseplayers have a tendency to let ourselves go, which in turn affects our ability to think clearly and have the stamina to win.

Above all else, enjoy your days at the races, if you’re not, then maybe it is time to take time off and assess your methods and motives.  Life is short and should be enjoyable for the most part.  Just as we use systems to beat the races, the are systems to get the most out of life, what I have just shared with you is a pretty good start on the basics.

Enjoy your days at the races.

Source by Bill Peterson

How Goldman Sachs Ripped Its Clients' Faces Off

Justice Litle, Editorial Director, Taipan Publishing Group

By now you’ve likely heard the news… the SEC (Securities and Exchange Commission) has charged Goldman Sachs with fraud. Goldman (GS:NYSE) stock plunged in response, dropping more than $14 billion in total market value.

Rest assured, this fraud accusation is a very big deal…

Of course, you won’t see Goldman execs frog-marched to jail in handcuffs anytime soon. And Goldman might even succeed in beating the SEC’s rap. (They’ll surely hire the best lawyers on the planet to help them do it.)

Nonetheless, the news is hugely important, due to all the behind-the-scenes factors involved. (For one thing, political risk on the investment banking side and the hedge fund side has just shot through the roof. That’s very bad news for the market.)

We’ll get into the complex question of just how this news could impact markets in another post. Today, though, we want to focus on another question. Just what did Goldman do?

A Brand-New F.I.A.S.C.O.

Perhaps the best way to understand the charges against Goldman Sachs is to first read a book more than 10 years old. The name of the book is F.I.A.S.C.O.: Blood in the Water on Wall Street, by Frank Partnoy. It was first published in February 1999.

The book is Partnoy’s tell-all description of his former life as a Morgan Stanley derivatives salesman. F.I.A.S.C.O., the acronym in the book’s title, stands for “Fixed Income Annual Sporting Clays Outing.” Every year, Morgan Stanley’s rough-and-tumble bond trading derivatives team would get drunk and go shooting. In their minds, they were probably shooting at clients.

Partnoy, long out of the investment banking biz, revealed things in the book that clients were never supposed to know. Like the lingo of “ripping a client’s face off,” for example, or the game of “blowing up” a client.

In Morgan Stanley terms, to “rip a client’s face off” meant to sell them a booby-trapped derivative trade. The client, for whatever reason, thinks he’s getting a lucrative deal on a highly exotic derivative product that will provide capital gains, steady income, or both. But in reality the client has just signed on for a fancy mugging.

When the trades blew up (as they inevitably did), Morgan Stanley would be on the other side – ready to collect all the money that the client lost. In this, the one-time white shoe investment bank was like a dynamite-rigged bucket shop.

Basically, the Morgan Stanley derivatives department of the 1990s was focused on finding gullible clients who had no clue as to the risk of what they were actually buying… selling them booby-trapped time bombs… and then profiting on the other side of the trade when the client blew up.

This is what Goldman Sachs did to its clients for a fee. In exchange for a hefty sum, Goldman convinced some of its less-than-bright customers to load up on a subprime deal that was engineered to fail. The clients thought they were making a sound investment that would provide them with steady income. In reality, they were being set up to get their faces ripped off.

The main difference is that, this time, Goldman was only acting as middle man. Whereas Morgan Stanley itself was on the other side of the trade in the 1990s, this time a giant hedge fund was the one looking to make a big score. Goldman Sachs acted as matchmaker for a fee.

The “Fabulous Fab”

On the Goldman Sachs side, the player at the center of the mess is an obnoxious 31-year-old Frenchman named Fabrice Tourre. The SEC has filed civil charges against both Tourre as an individual and Goldman Sachs on the whole.

It doesn’t look too good for Goldman or Tourre. Even if they win the case, the bank’s reputation has been severely damaged. The following e-mail excerpt was shown on the front page of The Wall Street Journal weekend edition:

The whole building is about to collapse anytime now. …Only potential survivor, the fabulous Fab… standing in the middle of all these complex, highly leveraged, exotic trades he created…

In the same e-mail, “the fabulous Fab” admitted he created the trades “without necessarily understanding all of the implications.”

So here we have a hotshot trader who sold toxic waste to a bunch of rube-like clients… saw the blow-up coming in advance… and then bragged about side-stepping the carnage.

Built to Spill

It’s not a crime for an investment bank security to go belly up. Clients can and do lose money on a regular basis. The crime, in the eyes of the SEC, had to do with the fact that Goldman Sachs packaged and sold a deal that was intentionally designed to fail by the hedge fund that dreamed it up.

The fact that Goldman failed to warn its investors – saying to them “just so you know, this deal was put together specifically at the request of someone who wants to short it” – was a breach of fiduciary duty.

The deal in question was known as Abacus 2007-AC1, or “Abacus.” Abacus was created at the request of John Paulson, the hugely successful hedge fund investor who made billions of dollars in profit from the subprime crisis (including a personal profit approaching $4 billion).

Paulson wanted Abacus created so he could buy credit default swap insurance against it – not unlike wanting a house built in a highly flammable brushfire zone, so that one could then take out fire insurance on that same house.

Abacus was something known as a “synthetic collateralized debt obligation.” In plain English terms, Abacus was a collection of highly risky subprime mortgage bonds. These bonds paid a high rate of interest, precisely because they were so risky. This high interest rate attracted institutional investors with more greed than sense.

Sharks and Minnows at the Poker Table

Another way to understand what happened is to picture a giant poker table. John Paulson turned out to be the “shark” at the table – the sharp, savvy pro who knew exactly what he was doing in expecting the bubble to burst.

The gullible Goldman Sachs clients were the “minnows” at the table – i.e. the novice poker players who thought they knew what they were doing, but clearly didn’t. These minnows were players like the German bank IKB, which took on way too much risk in various subprime deals and went tapioca in result.

Paulson’s hedge fund brainstormed the Abacus deal as something to sell to the minnows. They wanted the minnows to buy and hold the toxic assets so that Paulson & Co. could bet against them. When subprime blew up, the minnows lost more than a billion dollars… and Paulson made a cool billion. (Plus billions more in other places.)

Minnows, meet shark.

Goldman Sachs played the role of gracious host for this little poker game. On the one hand, Goldman called in the seasoned pro (Paulson) to fill the key seat at the table. On the other hand, Goldman filled up the rest of the seats with “shark bait” – the less than savvy players who were destined to lose their shirts.

Fraud, or Something Else?

So is Goldman Sachs guilty of fraud as the SEC charges? You can read the full text of the SEC charges here:

The Commission brings this securities fraud action against Goldman, Sachs & Co (“GS&Co”) and a GS&Co employee, Fabrice Tourre (Tourre) for making materially misleading statements and omissions in connection with a synthetically collateralized debt obligation (“CDO”) GS&Co structured and marketed to investors…

The “materially misleading statements and omissions” have to do with the fact that Goldman knew Abacus was engineered to fail (by design of its savvy originator) yet failed to mention this to the “minnows” on the other side.

More evidence for the “fail by design” charge came from the fact that Paulson shopped around, looking for the worst mortgages possible to go into the deal. For instance, subprime mortgages from Wells Fargo, a rival bank, were rejected by Paulson because they were perceived as too high quality, i.e. not junky enough.

Some will say the out-of-luck Goldman clients – the ones who lost big, fueling Paulson’s massive gain – should have embraced the principle of “caveat emptor” (buyer beware). And all things being equal, that is true.

But still… if a public company were to create a spin-off for the express purpose of letting executives short the spin-off’s stock, wouldn’t you want to know?

Whether or not Goldman is guilty of fraud as the SEC asserts, they are certainly guilty of treating their clients (or at least half their clients) like sheep to be sheared – or rather chum for the sharks.

It’s like the old poker saying goes: “If you’ve been sitting at the table for half an hour and you still can’t tell who the fish is… then the fish is you.”

Tomorrow we’ll take a closer look at why the Goldman fraud charges have serious implications, and are not just a tempest in a teapot.

Don’t forget to follow us on Facebook and Twitter for the latest in financial market news, company updates and exclusive special promotions.

Source by Justice Litle

Creating the Ultimate Home Game Room

Creating the “Ultimate Home Game Room” isn’t as hard as you may think. “Ultimate” doesn’t necessarily mean the most expensive game room either. It just means it’s ultimate for you, your family and your friends.

The basics for every game room include “games & signs”. That’s all it takes to create your game room. Of course some organization is also needed, you don’t want a mess of posters, pub signs and neon signs taking up your walls.

Creating Your “Ultimate Home Game Room”

To do this you start with the wall colors. The best looking game rooms have two-toned wall color schemes. This means a top border around the room that’s 12-24 inches in width. Then paint the rest of the room a complimentary color.

It’s fun choosing a color scheme. Use your favorite sports team, your high school / university colors, the colors of your home country or a favorite painting or place you’ve visited. If those colors aren’t good just select Two Great compatible colors. It’s usually best to make the darker color your border color and the lighter color as your main wall color. This brightens up the room and helps your cool signs and posters to display better.

Next comes the flooring. There is a variety of floors that can be put into game rooms. A few examples would be hardwood, vinyl, cork, bamboo, carpet tiling, ceramic tiling, area rugs and wall-to-wall carpeting. If your game room is located in a basement that eliminates most if not all hardwoods because of moisture problems in basements.

So what’s best? Checkered tiling is what “Ultimate Game Rooms” are all about. Match the tiles up with your wall color for the ultimate effect. Whether you use 6×6, 8×8 or 12×12 tiling squares it’s a checkered floor that makes your game room “Ultimate”.

Now comes the “FUN PART”. You can either theme your game room or create a general all out fun game room.

Let’s start with furniture. If you’re creating a theme then your furniture must match. For example if you want a “Beach or Hawaiian Theme” then the best pub tables, pub chairs and accessories would be made of wicker or rattan. If you’re creating a Green Bay Packer’s Theme then you’d want chrome bar stools with green or yellow vinyl cushion covers to match. Otherwise if you just want a great game room make sure you bar stools and pub tables match.

The next thing to consider is the lighting. If you have a theme, say a sports theme, then find pub lamps, swag lights and floor lamps that have your favorite sport or team’s name on them. For an Asian theme you’d want bamboo lamps and hanging lanterns. For general game rooms, bar lights with your favorite drink or food would be perfect!

Now you’re ready to decorate your walls! Posters, Tin Signs, Neon Signs, Clocks and more are what you’ll need to get started. Have a movie theme then find some great movie posters online to fill up your room. Actually it’s best to have an assortment of each. Leave gaps and spread all your cool stuff out. You want them to be noticed and admired not lost in a mess of other posters and signs. Remember you just spent a few days painting your game room so don’t cover it up. With a general game room theme vintage tin signs are always a big hit. Plus one or two neon signs add atmosphere. Don’t overdue the neon though just choose a few favorites.

Now it’s time to find the best TABLE GAMES. Besides the cost it’s room size that determines which games to include in your game room. By far every “Ultimate Game Room” needs a billiard table. Now days you can get a variety of fabric colors besides green. Also you can find themed billiard tables like NASCAR and more. Two other great additions are foosball and air hockey. Easy to play fast paced games. They also come in a variety of sizes and fun designs. Table Tennis is a fun game but not everyone knows how to play and they take a lot of space if they don’t fold up so you may want to add other games first. One game that is overlooked too much is Shuffleboard. It’s GREAT for the whole family and it’s easy and fun to play.

Think about “Other Game Room Games”. For example if you have a 1950’s Theme then an Elvis Pinball Machine fits right in. Also a retro slot machine would be fun to have. A Pachinko Game or Pachislo is a great family game from Japan worth mentioning. And “Dart Boards & Poker Tables” are in high demand these days and there is such a large variety out there you’ll have no problem finding one for your game room.

A variety of games, some for the adults and some for the kids are what you need. Games can get a little expensive so don’t buy new, buy second hand from an online auction site or look in your local paper for used games. It’s not how new they are it’s how FUN they are! Don’t have enough space? Then try a “Combination Game Table”. They have combos from 3 in 1 to 15 in 1 game tables.

It’s time to liven things up with “Music”. You can’t have an ultimate game room without music. A Juke Box is best when it comes to game room music. Whether it’s a 1946 Rockola or a retro looking CD Juke Box it doesn’t matter. It’s having a jukebox that counts most. Yes a 400 CD changer with a nice surround sound stereo system works even better but looks mean a lot when creating a game room. Just hide your CD or stereo in the corner.

Finally to create the “Ultimate Game Room” you need a TV. One should be mounted on the wall in the vicinity of the pool table / poker table and the other in a sitting area for kids to play video games. This is a must. No game room is complete without a TV or two for the big game.

Now you have all the ingredients you need for creating the “Ultimate Home Game Room”. There are always fun and different accessories you can add to spice it up even more but with the basics covered you’re ready to start having the best parties and get-togethers on the block!

You’ll find information on other decorating themes like Western and Hawaiian themes and much more at .

To view game room posters go directly to

Source by Joe Schmieder

Tax Issues with Gambling Winnings and Losses

Like to play the ponies? Hooked on Texas Hold’em? Enjoy spending a day in a Casino out of the elements? Gamblers may love a bit of gambling, but there is a tax side to your gaming that you need to keep an eye on or suffer the wrath of the IRS.

The first thing to understand is gambling winnings are taxable. Lucky you. This means winning from every kind of game including the basics like lotteries to more sophisticated gaming like horse racing, craps, poker tournaments and sports betting. This is also true for winnings that include things other than cash such as vehicles or trips.

If you have a non-cash winning, the tax is based on the fair market value of the item. If the vehicle would’ve cost $35,000 at a dealer, that is the figure that will be used. Yes, most people end up selling their vehicle winnings to pay the tax. Hey, you still end up with cash!

Most gamblers get into trouble based on the belief that the IRS will have trouble figuring out if you won something. The agency will not. The casino, track or whoever is paying you must issue a W-2G if you have certain winnings and will actually withhold taxes from larger gains. In fact, the IRS often has a representative in the larger gaming institutions to “congratulate” you on the success.

So, how do you report these winnings? As always, we return to the 1040 form. The magic area is found on line 21. You simply report it there. Ah, but what about losses? Well, you can take them as well if you itemize deductions, but you can only deduct up to the amount you actually won. Put in practical terms, this means that you can only eliminate the gain, not actually create a loss for the rest of your gains.

Tax issues are rarely simple. The IRS would like you to just pay and pay, but you can get the detailed scoop on paying taxes on you winnings in IRS Publication 525 off the IRS site.

Source by Thomas Ajava

Gambling Addiction

What is Gambling Addiction?

Addictions are quite well heard of these days and an addiction to gambling is one of them. But what exactly is it? Problem gambling also know as ludomania is by definition an urge to gamble despite the harmful and negative consequences or a desire to stop.

Why do People get addicted to gambling?

People can easily become addicted to gambling from the psychology of playing the game. It is usually split into 4 different areas: the high of thinking you can control chance, the excitement of maybe winning the jackpot, addicted to winning, and becoming addicted to the idea that your luck will change. Playing poker or any gambling game is a game of risk taking, and within any form of risk taking this gives people a high, especially if it pays off. Risk adds excitement, takes you away from everyday life, gives you something to focus on even if it is only for a short period of time. With risk you never know the outcome which is good and bad because there is nothing to stop you from playing just one more game, there is nothing in concrete to say that the next game you won’t win, you always have the idea in your head that your luck will change and if you play one extra game, just one last time, you could win and all of it would have been worth it. But the problem with tomorrow is that it never comes its always tomorrow, the same is true for ‘one more game’.

How Do I know If I have Problems with Gambling?

The biggest problems with addiction is that it is a downward spiral. The game becomes a place where you can get away from the stress and anxiety everyday normal life can bring, but if you hit a losing streak you become more and more depressed and so you play more and more to escape the feelings of depression and to escape dealing with your responsibilities, and so it is a vicious circle.

How do you know if you have a problem or not? If you feel the majority of these statements describe you then it is advised to seek help and advice with gambling:

Do you lose time from work due to gambling?
Is gambling affecting your reputation?
Do you ever gamble to get money with which to pay debts or to otherwise solve financial difficulties?
Are you reluctant to use gambling money for normal expenditures?
Do you ever gamble to escape worry or trouble?
Have you ever sold anything to finance gambling?
Have you ever committed, or considered committing, an illegal act to finance gambling?If you would like to talk to someone about your gambling problems to seek advice or help, call GamCare on 0845 6000 133. Here you can speak to a trained advisor for counseling support, information and advice, go to to read more.

Source by Brad Potter

The Best Way to Learn How to Pick Winners at the Horse Races

Would you like to learn how to pick more winners at the horse races?  Whether you have been going to the horse races for years or have just started enjoying the races, you can do a few simple things to make yourself a better handicapper.  First of all, let’s put things in the proper perspective.  Horse racing handicapping isn’t as difficult as brain surgery, but it also isn’t simple.  When you bet on horse races you take a chance and you could lose your money.

Therefore, it is something that you can learn but while you’re learning, it is foolish to bet large sums of money.  How do you learn?  There are several sources of information.  First of all, if you’re real lucky, you may have a friend who can teach you.  The chances of having a friend who can teach you how to make money betting on horses are about as good as having a friend who can teach you to be a great poker player.  It can happen, but it isn’t likely.

You can buy books on the subject of horse racing handicapping.  There are some excellent books available that will help you to learn the language and understand factors like pace, class, speed.  But there are millions of people who have read those books who still don’t make a profit from the horse races.  If you want to learn how to pick winners you may want to learn angles, tips, and systems.  Any of those methods will produce winners.

The best way is to take your time, have fun, don’t invest a lot of money but do make real bets to keep it interesting.  You will also want to read some of those books, but not to the point where all you’re doing is reading books, remember to spend plenty of time at the track observing and learning by experience.  That is the real key to becoming a winning horse player.

You have to go to the races and actually watch them run.  Go to the paddock and look at the horses and watch the people as well.  You can learn a lot about picking winners by seeing the jockeys and trainers interacting and watching how the jockeys ride in different kinds of races.  For instance, knowing that Pablo Morales is not afraid to skim the paint, as they say, is helpful when he is on a horse in an inside post position in a long race.  You’ll know that he is going to save ground with the horse and if there is an opening on the rail at the end of the race, he will probably be able to squeeze through it.  

Those kinds of things that you don’t learn from a book, combined with the good basic handicapping skills you can gain from a good handicapping book, are the best tools to beat the horse racing game.

Source by Bill Peterson

How To Build Your Perfect Man Cave: Get The Clay Poker Chips

Few things are more important when it comes to the continued sanity of the middle-aged American male than a superior, relaxing, bro-filled “Man Cave.” After all, even Superman had his fortress of Solitude.

There are some obvious essentials, of course. The first one is the television, and the second is the couch. And the inquiry “Which should be bigger?” is a very serious one. When someone asks you how big your plasma, HD, Blu-Ray, 3-D, whatever Television, you should be able to answer simply, yet confidently “BIG!”… and then throw your head back and laugh like a James Bond villain.

As for the couch, well, size matters there as well. What you need to keep in mind is that one of the best features of the Man Cave is that it can easily transform from a Fortress of Solitude to a melting pot of Man Love. Especially with the massive TV you’re going to put down there, it’s important all your beer-drinking, Sports-watching buddies have a place to sit, right?

Folding chairs work can work, but that should only be in an emergency. And these emergencies only occur when your sofa doesn’t have enough space! So make sure that couch is as big… and of course, as comfortable… as possible.

Big love seats are nice, but when you got a bunch of dudes hanging out, you’re typically not going to have two individuals on one seat. So save the space, and get a couch instead.

But the most important thing to remember: This is YOUR man-cave, which means it should be personal to YOU! If you and your buddies love blackjack, throw in a couple blackjack tables. If you and your buddies like pinball, opt in for a couple pinball machines. If you have a unique but perfectly normal obsession with Denise Richards, than hey, by all means, get a couple cardboard cutouts of her and set them up throughout the cave. We recommend the one from when she was in “Wild Things.”

But seriously, the most important thing when putting these finishing touches onto your very own personal Fortress of Solitude is to make every precise detail designed for you. And that means EVERY detail.

A friend of mine had a set of plastic poker chips, but he knew deep-down he wanted a set of clay ones like they have at all the casino poker tables. So he went out and got himself his very own personal set of clay poker chips. Sounds like a tiny difference… but the tiniest difference can surprisingly go a long way. Don’t cheap out on your man cave. Get the clay poker chips.

Source by Mark Etinger