The 5 Rules On How To Win At Craps!

So you want to learn how to win at craps eh? It is an exciting game with alot of different people betting at the same time. However all the different options for betting can give you a better chance to win at craps. I will show you some advice and strategy to play the game of craps!

Rule #1 – Stick to a table and choose a betting limit in advance so you don’t make silly mistakes like trying to win back the losses you have accumulated. Always save your winnings as well and when you hit a losing streak lower your bets or walk away from the table and take a break.

Rule #2 – Ask the other people at the tables what the trends are in that particular craps table and will give you advice on the different players shooting skills.

Rule #3 – To win at craps, don’t bet more then the minimum at the table. Only double your bets if you feel you are a winning streak. when you lose, don’t bother trying to get back the money you’ve lost.

Rule #4 – whatever you do avoid the field. The most likely numbers to be rolled in the game are 5, 6, 7 and 8. So don’t waste money on this bet!

Rule #5 – Bet on a player who carefully throws the dice and has confidence. Chances are he will know more on how to win at craps then a player who throughs the dice and relies on flukey throws.

Knowing how to play the game of craps properly will ensure greater wins and using a system or strategy for your bets is essential to win at craps. Learn from the players at your table and don’t make the same mistakes losing players make. Follow these ideas to win at craps more often and have more fun!

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Gambling Winnings And The Irs

In the United States gambling winnings are considered by the IRS to be taxable income and must be reported on your federal tax return. Gambling income includes, casino winnings, winnings from lotteries, and horse races. Cash winnings as well as the fair market value of prizes such as cars and trips etc. are eligible for Gambling taxes. A payer is required to issue you a Form W-2G or Form 1042-s if you receive gambling winnings subject to Federal income tax withholding. All gambling winnings must be reported as income even if no casino tax is deducted. Foreign nationals such as residents of Canada and the United Kingdom may be exempt from paying tax and be subject to a full casino tax refund due to provisions within their tax treaties with the United States. It is advised for Foreign Nationals claiming tax treaty provisions to use the services of an IRS Certifying Acceptance Agent to effect a US tax recovery. You may deduct gambling losses only if you itemize deductions. Claim your gambling losses as a miscellaneous deduction on Schedule A . However, the amount of losses you deduct may not be more than the amount of gambling income you have reported on your return. It is important to keep an accurate diary or similar record of your gambling winnings and losses in order to claim your casino tax refunds. To deduct your losses, you must be able to provide receipts, tickets, statements or other records that show the amount of both your winnings and losses. Refer to IRS Publication 529, Miscellaneous Deductions, for more information.

Diary of winnings and losses. You must keep an accurate diary or similar record of your losses and winnings. Your diary should contain at least the following information. – The date and type of your specific wager or wagering activity. – The name and address or location of the gambling establishment. – The names of other persons present with you at the gambling establishment. – The amount(s) you won or lost. Proof of winnings and losses. In addition to your diary, you should also have other documentation. You can generally prove your losses through , wagering tickets, canceled checks, substitute checks, credit records, bank withdrawals, and statements of actual winnings or payment slips provided to you by the gambling establishment.

For specific wagering transactions, you can use the following items to support your winnings and losses. These recordkeeping suggestions are intended as general guidelines to help you establish your gambling winnings and losses. They are not all-inclusive. Your tax liability depends on your particular facts and circumstances.

Keno. Copies of the keno tickets you purchased that were validated by the gambling establishment, copies of your casino credit records, and copies of your casino check cashing records.

Slot machines. A record of the machine number and all winnings by date and time the machine was played. Table games (twenty-one (blackjack), craps, poker, baccarat, roulette, wheel of fortune, etc.). The number of the table at which you were playing. Casino credit card data indicating whether the credit was issued in the pit or at the cashier’s cage.

Bingo. A record of the number of games played, cost of tickets purchased, and amounts collected on winning tickets. Supplemental records include any receipts from the casino, parlor, etc.

Racing (horse, harness, dog, etc.). A record of the races, amounts of wagers, amounts collected on winning tickets, and amounts lost on losing tickets. Supplemental records include unredeemed tickets and payment records from the racetrack.

Lotteries. A record of ticket purchases, dates, winnings, and losses. Supplemental records include unredeemed tickets, payment slips, and winnings statements.

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Beat The Casinos

Do you have what it takes to become a successful (and profitable) gambler? Read on and find out:

1. A gambling system

No matter what your game, a gambling system is being marketed to turn you into a winner. Unfortunately, 90% of them are built on empty promises and does not work.

So how do you find a system that works? The easiest way is to get a personal recommendation from somebody that you trust, who has used the system with positive results. Otherwise it is a long, hard slog through all the promotional rubbish to find a system that makes sense to you. Don’t just buy the first one that you see. Do your research and find out about the creator’s reputation?

A good system does not only include a gambling system, but also a bankroll system, win/loss criteria and preferably a flexible approach. I can’t stress this enough! I have seen so many people lose their money because they did not have a sufficient bankroll or their system was not flexible enough to change if they were losing.

Your system needs to rely on mathematical and statistical odds to make a consistent profit. If this is the case, the laws of nature are on your side! Sure, the gambler playing on gut feel might win big, but rest assured that he would also lose big.

So now you have a good system and you are raring to go and win some money. WAIT, because you might still lack what I feel is the most important element of a successful gambler. You need the right mindset�

2. The right mindset

At this point some people will stop reading and ignore the �mumbo-jumbo�. To them I say all the best of luck with your gambling and I hope you become successful. But chances are that they won’t. Sure, they might win a few hands/pots, but over the longer term, they will consistently lose.

For those of you still with me, what do I mean by the right mindset?

Well, for starters, don’t see yourself as a gambler. Gambling implies relying on luck to either win big or lose big. See yourself as an investor. You invest your time and money (bankroll) to make a profit.

Believe in your system. This is why it is so important to use a reliable and proven system. You need to be sure that although a session might end in a loss, you will recoup the loss in the next few sessions.

Let us look at an example: In your first session you make a profit of $100. In your second session you make a loss of $200. So your net loss will be $100.

At this point many people quit and whine about the system not working as it is supposed to. What they don’t realize is that the next three or four sessions might net them $400 profit. So not only do they lose a system that might make them consistent profits, but they lose $100 as well!

Calculate your winnings and losses in units. Why? Well, if you play with $1 chips, then wagering two or three chips (units) is not a big deal. What about playing with $20 chips? All of a sudden you are wagering $40-$60 on a single play. Your mind tells you that you are staking a lot of money, which in turn causes you to have doubts about your system. This is where people start to play too carefully and not follow their system. End result: they lose the money. If your system worked with $1 chips, there is no reason for it not to work with $20 chips. Remember to always wager amounts supported by your bankroll.

3. Casino bonuses

The last weapon in your arsenal is casino bonuses. What a great way of making money by using the casinos’ money against them! Obviously there are a lot of requirements associated with this. I mean, why would the casino give you free money?

Discussing these requirements would be and article or two on its own! However, why don’t you sign up for the free e-mail course How to make consistent profits from gambling. This course will show you how to use casino bonuses to make some extra cash.

If you implement and developed the points mentioned above, you will already be ahead of the majority of gamblers and well on your way to beat the casinos.

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