How would you invest $10K?

[Eeezee]

Originally posted by: her209

Originally posted by: Eeezee
Progressive betting FTW

If you actually work out the odds, the house will lose over a large number of bets if you employ a progressive betting strategy.

That requires deep pockets (which I don't have)

If you do lower-stakes tables, you'd at least still be making profit. I'm not encouraging you to bet more than $500 at a time (unless the betting gets you that high).

 

[her209]

Originally posted by: Eeezee

Originally posted by: her209

Originally posted by: Eeezee
Progressive betting FTW

If you actually work out the odds, the house will lose over a large number of bets if you employ a progressive betting strategy.

That requires deep pockets (which I don't have)

If you do lower-stakes tables, you'd at least still be making profit. I'm not encouraging you to bet more than $500 at a time (unless the betting gets you that high).

And then you're screwed when you can't bet more than the maximum bet.

 

[ponyo]

Originally posted by: her209

Originally posted by: Vilica

Originally posted by: her209

Originally posted by: her209

Originally posted by: Naustica
bet it all on black and repeat. After about 5 wins, you might have a enough for the downpayment. Also remember the 10k rule in cashing out at the casino.

1) What's the 10K rule?
2) Large sum of money = confiscation?

Bump for the 10k rule.

Casinos have to report any cashouts over 10k. So you get more than 10k in cash, and they need to fill out a 1040 form. Done to prevent money laundering etc.

But you can do multiple cashouts of 10k each right?

You have to wait 24 hours each time you cash out 10k if you don't want it reported. My friend came back from Vegas recently and ran into this problem. He stayed in Vegas little over a month because he couldn't cash out all at once. Everyday he cashed out slightly less than 10k. So everyday he played some blackjack to pass time and everyday he won more than he cashed out. It took him a month to cash all out and he had people fly in to help him. He finally cashed out fully by losing 120k on the final day. He told me his average bet per hand throughout his month long stay was 2.5k.

He's went to Vegas again this week. Harrahs booked his flight and got him two suites. Of course everything was comped. I wish I could've gone w/ him for the free food, shows, and room but I had to work.

 

[her209]

Originally posted by: Naustica

Originally posted by: her209

Originally posted by: Vilica

Originally posted by: her209

Originally posted by: her209

Originally posted by: Naustica
bet it all on black and repeat. After about 5 wins, you might have a enough for the downpayment. Also remember the 10k rule in cashing out at the casino.

1) What's the 10K rule?
2) Large sum of money = confiscation?

Bump for the 10k rule.

Casinos have to report any cashouts over 10k. So you get more than 10k in cash, and they need to fill out a 1040 form. Done to prevent money laundering etc.

But you can do multiple cashouts of 10k each right?

You have to wait 24 hours each time you cash out 10k if you don't want it reported. My friend came back from Vegas recently and ran into this problem. He stayed in Vegas little over a month because he couldn't cash out all at once. Everyday he cashed out slightly less than 10k. So everyday he played some blackjack to pass time and everyday he won more than he cashed out. It took him a month to cash all out and he had people fly in to help him. He finally cashed out fully by losing 120k on the final day. He told me his average bet per hand throughout his month long stay was 2.5k.

He's went to Vegas again this week. Harrahs booked his flight and got him two suites. Of course everything was comped. I wish I could've gone w/ him for the free food, shows, and room but I had to work.

Dude... :shocked:

 

[Mrfrog840]

wow... most ive ever seen was buddy started w/ 20 bucks and walked out with 1200 after about an hour and a half

 

[thoro86]

invest in Vegas...