Back 30 1.20 winners receive over $2000

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BarryG said:
Thanks mattys123. 30 in a row, I'm pretty stoked. There have been some very close calls, some teams have come back from the brink to get me over the line. At times $1.20 favourites play like $4 dogs.

Is 60 achievable?? Do i dare to dream??
Click to expand...

Just so you know Barry, 60 at exactly $1.20 would net you $563,475.14. You would need to inform the tax man lol.
 
They are taxable if they are considered a main source of income, otherwise pro gamblers would never pay tax...

I'm considering having a crack at this as it seems fun and stuff like the NBA will throw up some pretty comfortable winners.

Argentina are 1.20 in the Hockey World Cup tonight vs Canada who haven't won a game yet, interesting because Germany are 1.10 vs NZ despite NZ having two wins...

Anyone getting on that?
 
Have a crack, but keep the mentality that it was only a $10 outlay to begin with, will make the bigger bets later on easier.

Good show by the Hawks so far, haven't played that well yet they are within 1 at half time.

I'm hoping they win, take all the stress out of the last quarter.
 
Att 3 Bet 1

After the event, but couldn't write it up at the time.

Sale Race 6 - #8 Blazin Arch Place Only (NSW) WIN @ 1.40
 
Wow....looked at my sporting account balance, had gone up a fair bit. Looked into recent bets, turns out I put $163.30 on the Hawks to win :D better double check next time :eek:
 

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sblack said:
Att 3 Bet 1

After the event, but couldn't write it up at the time.

Sale Race 6 - #8 Blazin Arch Place Only (NSW) WIN @ 1.40
Click to expand...

Att 3 Bet 2

$14 - Sale Race 8 - #7 Our Tyler Rose Place Only (NSW)
 
Arsenal/Porto over 1.5 goals @ $1.32.

Thoughts? Arsenal are 2-1 from the first leg, and will definitely be looking to score at home. This definitely won't be a 0-0 scoreline. 1-0 to Arsenal is a chance.

I'd be very surprised if this didn't produce 2 goals or more.
 
dr nick said:
That's bullshit mate. I've read up on it.

http://law.ato.gov.au/atolaw/view.htm?find=(("gambling"))&docid=ITR/IT2655/NAT/ATO/00001

http://www.theage.com.au/news/national/joe-gets-off-tax-free/2005/12/21/1135032078866.html
Click to expand...

It is not 'bullshit mate'.

Not sure why you posted that Joe Hachem thing as that was obviously a hobby. It depends whether your gambling is considered a hobby or your main source of income.

Why don't you just quit your job and become a pro gambler then? I'm sure you could make enough cash to get by if you load up on 1.20 winners, this thread proves they are easy to hit on a regular basis. Then you can live off those winnings and never have to pay a cent in tax. :rolleyes:
 
smiddaz123 said:
Arsenal/Porto over 1.5 goals @ $1.32.

Thoughts? Arsenal are 2-1 from the first leg, and will definitely be looking to score at home. This definitely won't be a 0-0 scoreline. 1-0 to Arsenal is a chance.

I'd be very surprised if this didn't produce 2 goals or more.
Click to expand...

Arsenal will probably score twice themselves but it can be dangerous on betting on something like this as it could just end up 0-0. Football betting can be pretty dodgy like that, if you are only putting a smallish amount on because you are at the start of the '30 Bet Challenge' then go for it but I wouldn't be putting '00s on it.
 
RoosterLad said:
It is not 'bullshit mate'.

Not sure why you posted that Joe Hachem thing as that was obviously a hobby. It depends whether your gambling is considered a hobby or your main source of income.

Why don't you just quit your job and become a pro gambler then? I'm sure you could make enough cash to get by if you load up on 1.20 winners, this thread proves they are easy to hit on a regular basis. Then you can live off those winnings and never have to pay a cent in tax. :rolleyes:
Click to expand...

You said it is taxable if it's your main source of income... which is utter bullshit.

And yeah.. i'm sure Joe Hachem makes more money from being a real estate broker than poker :rolleyes:
 
RoosterLad said:
Maybe main source of income wasn't the correct phrase to use but I was trying to make it nice and simple for someone like yourself. :)

The fact is, sometimes gambling winnings do have to be declared.. when they are no longer 'just a hobby'.
Click to expand...

SO what, if Barry got another 30 on the board it wouldnt be considered a hobby anymore???
 
dr nick said:
lol nice try..

it was pretty clear you didn't know what you were talking about.



I think the concept was over your head to begin with
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Haha I do know what I am talking about ********, you are the one who said that gambling winnings are NOT taxable when they clearly are in some cases.

Barry is pretty safe lads as it is clearly still a hobby. If he quit his job to chase 1000 1.20 winners in a row it could be different. ;)

Anyway it is difficult to prove whether your gambling stops being a hobby. All I did was respond to dr simpletons post about gambling winnings not being taxable which is technically incorrect. :)

For my first bet I'm undecided between the Dutch vs the Kiwis or the Argies vs the Canadians in the field hockey, both should win even though Argentina have struggled a bit this tournament.
 
lol ... technically incorrect

"They are taxable if they are considered a main source of income"
blah blah blah.

You didn't know what you were talking about, I proved you wrong with a direct link to the ATO, and now your backtracking at a rate of knots "bad choice words" etc etc.

Don't worry BarryG, don't let this mug scare you into declaring this income.
 

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