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Workers can put more in their 401(k) and IRAs next year
You're listening to the spoken edition of the San Francisco Chronicle. Workers can put more in their 4._0._1._K. And I are as next year by Kathleen Pender, thanks to inflation workers will be able to save an additional five hundred dollars in their tax sheltered, 4._0._1._K and individual retirement accounts. Next year, the Internal Revenue Service announced Thursday employees who participate in four oh, one K for three B and most four fifty seven plans and the federal government's thrift savings plan can contribute. A maximum of nineteen thousand dollars in twenty nineteen up from eighteen thousand five hundred dollars this year before that it was stuck at eighteen thousand for three years, those fifty and older can contribute and additional six thousand dollars the same catch-up contribution as this year. The limit on contributions to a regular or Roth IRA rises to six thousand dollars from fifty five hundred the first increase since twenty thirteen. Those fifty and over can contribute an additional one thousand dollars to an IRA same as this year. Unlike the other limits, the IRA catch-up is set by law and only goes up when congress raises it the other limits are indexed to inflation. But go up only when the accumulated increase hits five hundred dollars. Most workers don't come close to maxing out their retirement plans, only eight or nine percent of those participating in four. Oh, one K plans run by Fidelity Investments contribute. The max. Their average contribution is just over six thousand dollars. If you can max out, you should if you can't max out everyone. Make sure you order them. Correctly said Jeff LeVine financial planner with blueprint wealth alliance. If your employer matches for oh one k contributions contribute enough to get the full match. I after that if you have a health savings account max that out because it has triple tax benefits contributions taxed. Title. They typically grow tax free and remained tax free. When you take them out if used for qualified medical expenses after that contribute to your 4._0._1._K, or I era if you can if your income is too high you can't contribute to a Roth IRA, if your income is too high, and you or your spouse's active in a retirement plan at work, you may not be able to deduct your contribution to a regular IRA. Although you still could make non deductible contribution living said these income limits are also going up next year.
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#173: Craps Advantage Play
january thirty first twenty nineteen from alcohol in california this is episode one hundred seventy three you can bet on that hi everybody welcome to you can bet on that a podcast for the recreational gambler name is mark devel- and sitting across from us dr mike hello now i've got a quote from richard munchkin blackjack hall of famer co host of the excellent gambling with an edge podcast yes and i'm paraphrasing here i'm not exactly sure this is exactly what he said but he's at every gain in the casino is beatable under the right circumstances yeah under the right circumstances is it always seems like well yeah okay of course under the right circumstances i play in the n._b._a. make ten million dollars a year but i think the point that he really is trying to make is don't look at a game and just assume there's no way to beat it right there in things could happen and sure enough we've got one of these stories and unbelievably it's about craps yes and we're telling this story now because this play is dead we've held off on talking about it on the show right we couldn't mention it for the last what month or so it's been a several episodes yeah but here's what happened so fairly recently real craps was introduced to oklahoma dice craps right dice craps and real roulette with a ball previous to that some of the casinos were dealing those games using cards and the law came down mace basically legalizing real craps and real roulette now since it's oklahoma players still have to pay an anti to play the game but otherwise the games it's real apps real roulette stupid oklahoma yeah well we got an email from listener taylor he went to the river wind casino near oklahoma city where they had just introduced craps they had not had the card craps before rise had never had a crap staffing like it so crafts was completely new to the casino and as taylor was playing he noticed that the crew was allowing players to decrease their pass line bet after a point had been established okay all right now he they wouldn't let you completely take your bet down but you could decrease it to probably the minimum probably the minimum we i never we never did find out exactly you know how much you could start with how much you could reduce it to but that's a huge edge for the player to be able to do that because once a points been established chances are that bet is going to lose your disadvantage no matter what the point is you want a lot out there on the come out roll when seven eleven win for you right and more ways to win than lose automatically on right exactly so he continued to play and then he noticed that they were allowing players to make a don't pass bet after a point had been established so on a number that already been rolled you could make a don't pass on that number where you clearly have the advantage you would be paid even money for a wager that is more likely to win right then to lose all right let's talk about how huge this was all right if the point were six or eight you could make that don't pass bet and again you you make the bet right and if a seven comes up you'll win a six comes up you'll lose in the case of a six even money right even though there are more ways to roll a seven than six right so if the point where six or eight you would have a little over a nine percent edge over the house if the point was five or nine you'd have twenty percent edge over the yeah and if it was four ten you'd have thirty three percent edge over the house you'd be pleased come up for as opposed to like you're always like four come out on four so i can make my how in the world did this get by there's so many people that are involved in setting up a craps game you know all the way to the top right they seen them dealers and nobody knew enough about the game to realize that the house is going to lose in the long run that's the thing that gets me there had to be somebody i mean probably a dealer there who's played crafts afford knew the rules and with think to themselves what the we can't allow that we're going to lose money yeah or maybe some dealers realize that just didn't say who they call it all their friends and get over here now actually but so many people i mean pit bosses are allowing casino so it's really mind boggling that this even got this far and the taylor was able to take advantage of it for at least a little while he let us know this last week that older now right and you know i think that like say the casino floor boss who's in charge table games boss would be familiar with all the games right he would've played crafts before you'd think probably came from some kind of other place you know some other job where he worked in a casino and you'd think he'd you know that'd be the guy that like well no you know we we can't do that that's the thing was everybody who is working in the casino dealing with craps where they all completely brand new to the game i think in kind of ruse mark is some kind of ruse like well we'll let him win a lot of money they'll be hooked here for life and in the long run we're all their mitzvah yeah alright yeah it's a loss leader on the leader it's like you know by cheerios and you get you know cana- milk with it or something right well plays they're still out there at vantage plays like that and i'll tell you the amazing thing about this play too is that you didn't need to have any skill it when it's just a few whenever pulling anything over on the casino if they let you do it right they're letting you do it it's not like you know you're somehow some slight hand or something i mean you're just doing what they want you to do right this thing was so lucrative here's the thing you know we talked about oh my gosh we should go to oklahoma but of course there's no guarantee that once we got there it was still going on right and then you know we're in local homa and it's like i mean that's fine at least we finally get to an oklahoma casino but not for the you know the funny thing is if i had been there i would just bet the table max on the pass line we're coming out gotcha and then after the point was made reduce it to the minimum on the task at the max don't don't pass that probably would have caught a lot of attention i was thinking what i would probably do is maybe one hundred dollars at least to start with on the dump pass and then maybe placed the six and eight for like six dollars kind of cover that this guy's got an odd system he's a hundred dollar no nine he wants a six dollars six eight now you still had to pay the andy which is like a dollar on every come out roll but still if you're with this this is you have to house and then maybe make a three way crap that just in case anyway that's gone now but keep your eyes out folks these things you never know when it went on for a good it went on for a little while i don't know how much taylor was able to take advantage of it but i'm sure there were people who did not and that's why we didn't mention it because not just taylor but who knows who might have come across in we didn't want you know to give much to go let it go on the casino to figure it out for a chain they're big boys oh you got an email from listener matthew so a few weeks back draft kings put on what they call the sports betting national championship where participants paid ten thousand dollars to enter and they made wagers on the n._f._l. divisional championship games and then whoever was like the top however many people they won this contest money and i guess what it was was five thousand dollars went to the prize pool and then five thousand dollars went into each person's account and that's what they bet with so they were they were wanting people to make bets yes so that that money was real and they got to keep any winnings from that so that was and draftkings got to keep any lose that's ex- exactly now there was a little controversy at the end because the person who had the lead going into the last game of the weekend wasn't able to make wagers on that last game they hadn't credited his account or there was some delay and so the game started and he couldn't make any bets at that point because the game had already started so what happened well so he ended up coming and i can't remember it was my me like third place or something like that well that's it's it's still a tim eric did a good job talking about on the one of the reasons episodes of the better life so go back and listen to well yeah it's a good idea i don't really like the name sports betting national championship okay because they're betting on n._f._l. games well i think this was but yeah i mean they should have called it you know n._f._l. well maybe they couldn't do that because the n._f._l. right i think they should have called it something different because national championship i think that should be like a year long thing we'll see that's the thing is where you where you have to bet so many baseball so many basketball so many this that you know and had a gore and this is actually what matthew was asking z. mail is what we thought about this kind of thing where it's actually a competition there's an added prize pool do you think it'll make a difference do you think it'll catch on you think it'll help sports betting spreading across the country or will it not really matter them or is it kind of out of some people's well let me put it this way there are seven billion people on the planet okay right six billion of them are just waiting to bet right six billion you said of the seven billion billion billion are just dying to bet on something so yeah i think it will do just fine if they have i like your idea of kind of a year long thing or a whole season but with stuff like that there's not the immediacy it's hard to kind of hype that kind of thing when it's going that long just over one weekend like maybe the first round of the n._c._a._a. tournament right something like that you know and then well happening think about this they could have a national championship for n._b._a. basketball and all season long you can bet when you run out of money you're out yeah and just keep it going all year and then have the play offs and the championship game be weighted more or something i still think it's just so it'd be so long that might be hard to get people get this see that's the thing right there hardcore guys going to love that they're going to do stuff like that anyway so i don't know that will really make that much difference i think that companies will continue you to do it right because people will enter generates interest right if anything it so your for them yeah it's p._r. forum but also if some guy enters that maybe not for ten thousand but let's say they had one that was like a thousand okay so you know you're putting in two thousand bucks well some casual guy you know he loves football or something i'll try a thousand dollars and you'll do it and then maybe he gets interested enough that you know next year he bets all season long it's great for draft kings you know stuff like that where they're they're generating interests are getting the guy who maybe didn't think about sports betting so much and if it's all online it really does not cost the company's anything so this money in their proxy nothing right i mean a few i._t. guys right once they earn out the bugs right yeah yeah that guy really got ripped off i don't yeah it is unfortunate and it's kind of ongoing apparently he was pretty good natured about it but yeah so i mean you know if there's a computer glitch which that's one of the things you know that i hate about comp- futre's the glitches declenchees i mean because sometimes they're just little you know nothing and sometimes it's like really bad and it can screw your life very true dr mike stupid computers are there not that bad mike caesar so stupid thursdays are the stupidest well speaking of screwing up your life let's talk about a kind of an interesting lawsuit here so there's a dealer who is brought a whistle blower lawsuit against hollywood casino joliet and i think it's kind of interesting so let's talk about this a little bit so cody gregory was working as a craps dealer at hollywood casino in twenty seventeen and a player made a five dollar fire bet for himself along with a one dollar bet for the dealers something we do all the time right so the fire bet hit all six points and the player was given his five thousand dollars but the casino manager at the time would not pay the one thousand dollars to the dealers now why is that unknown and again all this information is coming from this woman's lawsuit so all you out there in podcast land you're hearing about it from us right we're hearing about it from the media they're getting it from the law suit and of course a lawsuit is not going to necessarily be the truth right you're going to put in a lawsuit what you want right i think they call it here say i'm not an attorney no i'm not either i think it's all hearsay anyway so as soon as this happened as soon as the thousand dollars would not give it the dealers cody went to the illinois gaming board office at hollywood casino they have an office right there right under break on her break to tell them what had happened that office is staffed by illinois state police and they told her to keep the situation confidential and they promised they would investigate and then they ordered three orange whips yes so several days later cody found out that the casino had gone ahead and paid the dealers the one thousand dollar tip now again at least in everything that i've read about this there's no indication why the manager didn't provide the right away or or what prompted them to do it eventually all right the reason that she's filed the lawsuit is because she claims she was fired as retaliation by the casino for her going to the illinois gaming board right and here's one of the reasons cody got fired according to the casino he's their story yeah but again this is also in the lawsuit okay so this last november so about a year after the events we already talked about no so now we're talking november two thousand eighteen right cody was supervising craps game and during the game one of the dealers marked the wrong point you know is a come out roll dealer marked wrong but we see that all the time that happens right it's it's not that uncommon well a pair gently hollywood casino has this big old procedure for when the wrong point is marked where they have to stop the game and call surveillance now right there that to me is just so stupid because i've never heard of that number one number two usually the other dealer on the other side of the tape has marked or mark the correct one and even if they haven't it's like the stick to it was a six yeah this is it should be able to remember controvercial it really is now but whatever that's their policy well the casino says she didn't follow the protocol and instead she colluded with the dealers to continue the game no oh no low to the dealers have did somebody have a huge bed on the point is this is all in the lawsuit and the next day she was fired okay all right so i think it's an interesting story it's pretty obvious that the casino decided let's wait a year exactly your member next year will get her on some see here's the thing how much information is being left out right you know what don't we know where there other things that she did what she difficult to work with was who knows right why wasn't the tip given initially right or maybe under i mean because why wouldn't it be given right why wouldn't it be given it sounds to me like there's way more to this story more because i of off why did she immediately go to the gaming control board why wouldn't she just go to her suit by say well why didn't you pay this yeah he gives her a good reason like that wasn't there initially or something then investigate it why just go to the bike again we could speculate all we want you know maybe as well we're not going to drop that thousand and then she ran away from the table and he continued because we don't have enough chips right now we're going to get a fill and then we'll put the site so who knows what's going on but you're right i year later he has retaliation that seems a little strange it seems very slow see if we hear the end of the story you know in any workplace related problem there's always two sides to every story yeah and the truth is probably somewhere in the middle the casinos probably fault somehow and she's probably at fault somehow it's very possible i remember there was a pit boss i'm not gonna mention his name obviously but he used to work at harrison then we saw him out at hollywood and he was the kind of guy who just he'd come up to us and complain about things that were going on at the casino we complain about higher ups at the thinking he worked know how can we don't hear these complaints from other people right maybe europe at least partially to blame here well it takes to tango and you know he i'm sure he in that case i know that he was difficult he was a difficult purser with you right yes hey thanks to everyone has been clicking through our amazon link remember whenever you're going to buy something through amazon please go to our page i you can bet on that dot com and click through our amazon linked towards the top of the page all right let's move on to our voicemail hotline segment remember caller hotline at nine five one two nine two four three seven seven that's nine five one two wagers one way maybe we will play your clip on the show i call is from atom that i'm from connecticut just trying to give you a report on the m._g._m. springfield rooms i stayed up there earlier this week for the first time ever i've got a really good deal and had a rebounding with some friends from work than taking a lot so i said you know what let me passion on this deal so got the room it was beautiful fifi one of the best hotel rooms i've ever seen in i'm really big on this hour at this hour hotel stuff that kind of triple the rest of my say there and this was the single best out ever taken in my life they're both of some size that doesn't make dark wood paneling and you know the core is all springfields which acting equal they hide it in a lot of details off into the history to really make it a little other thing i would probably about was asked if you guys have ever taken a break from grass after a few horrendous sessions my last few sessions including the ones on that overnight say i've just been pretty terrible you know i want a few bucks but it was just so up and down almost immortalizing and then this last trip that went on just off i mean no higher night it more than one point and i do have my backup piece of loker which really the game that got me to casino in the first place rice started to learn a little bit more about grams so i'm thinking i'm probably gonna take breaks grants to close down period than just grandson poker bringing back tonight lows will basically make up some of the losses done on my last craft session i wonder if you guys had any insane you know i i believe now if my memory serves we correct we did take a break remember it was the thursday yeah it was that thursday not gonna play on a thursday there so stupid it was a thursday and we took a break from crafts and then friday we're back at it honestly adam taking a break is a good idea now all joking aside mike and i go out and play so often that yes we've taken a break but maybe the break was two weeks eighty three weeks right but oh hey we know what it's like way no those streets where you're just shell shocked right you're just your eyes glazed over you can't believe we're driving home the other night and you said to me let's remember this because we're on a heat or we're still winning and we've had a great start to this year and he said well let's remember this the next time we're complaining about how bad it was because we've had those nights where it's like wait nights i mean my must yeah we played like six hours of crafts some friday night and it's like did anyone make a second point i mean it was like how in the hell does that happen it just it's unbelievable that that happens well in it's also unbelievable that we've gone a whole month not lost so definitely a good idea to take a break yes we've done it we suggest you do at to not just for your psyche but also for your wallet it gives you time to recover number one and number two and you go back you've kind of forgot about you know the losses and everything and you probably in a better mood and you're anxious to go again and you're happy instead of like why am i here you know beating yourself up before even starting need to have a good time and again taking a break will not change your luck no it's really you might lose again yeah sure what you probably feel better because you didn't play for a while and you your wallets recovered anyway exactly i'm glad he mentioned about showers oh yeah 'cause atom i have the same thing i like a big shower with lots of water pressure a lot of pressure and hot water i like a high faucet enough so i can get there's nothing worse than being in a cramped shower where you have to bend over to give it a top of your head and you and you've just lost five thousand dollars for you feel like the jolly green giant is on your shoulders while you're shower come on well that's good that's pretty impressive that he had the best shower of his life yeah i'm still waiting for that 'cause it's coming yeah i'm open before i go i have i can say yeah it was it was a wednesday it's not your time doctor you still have the best shore of your life i'm sending you back all right next call hey and from saint paul area wanted just call in on last week little road trip my buddy and i took down to diamond joe in north iowa just south of the iowa minnesota border our half felt the twin cities reason we went down they have no one that poker we don't have that luxury here in minnesota and actually they had a bad beat jackpot of over two hundred thirty five thousand dollars which was unfortunately something we didn't hit but pretty impressive given that it's a small poker room and even with that big of a jackpot there was only five live games going on while we were there on time we left it was down to three and i was on a friday night so nothing real shattering there but i was just wondering if you guys have somewhere poker rooms out in california that also have those bad beats and if you've ever seen anything quite so small get a bad beat quite so high keep up the good work guys call back next month when i am coming home from vegas enjoy guys first let's talk about bad beep jackpots for people who might not be familiar so a bad beat jackpot is when you've got a really good poker hand not just a really good a great one like oh my gosh i've never had a hand this good and you lose so for example a lot of the bad beat jackpots at the card rooms around here are you have to have a full house ace's full of something beaten by say four of a kind or better right and in fact one of the casinos here you have to have a full house ace's full of jacks or better to get socially if you hands right if all it doesn't come up all that often now i contacted diamond joe to see what the bad beat was there and they said that they're bad beat is you have to have four of a kind or higher beaten by another four of a kind or higher yeah well that's great that's i mean that is crazy and that's why so you've got four jackson some guy gets a straight flush and you're like yeah or more likely it's going to be two four of a kind a low four kind like twos or threes some guys eight or something yes so when you call off to the topic here for a second how they answer the fi just tweeted them oh yeah no i got i'd love to call it i'm joe casino isn't it so great i was gonna i tweeted them thinking let's see how good their social media person is and they got back to me and i was planning to call if i didn't hear back from they said no it's four of a kind or better beaten anyway that's why the jackpot so high don't know of any card rooms are around here where you have to have four texas hold 'em right now in in other games like omaha yes but just in texas hold so that's why it's i've never heard of it that being the high and we've never had that i know of jackpots around here that have been that high no no now i do have kind of a funny story so years ago i went out to borana polka room with our friends mark and john who have come to our home game four right say hey let's go out to the casino and play poker it was back kind of during the poker boom right where you can play online let's go out to the room they were into that for a while yeah so we went out there and we just played like three six limit hold them we all went to different tables though because we didn't want to be playing against each other with that and so- bark who had never played poker in a card room before is at a table and all of a sudden i hear they hit abi jackpot ice now the way that the jackpot is typically paid off is the person whose hand was beaten gets the majority of the jackpot i don't know sixty percent or something six seventy percents i'm like that the person who beat that hand they get twenty percent something like that and the rest of the table splits tempers yeah so all you have to do is be on a table where this bad beat happens and you're going to get at least some of it so mark was not directly involved in hand but he one part of the jackpot and i've never even been close no i've never even seen one really i mean i've never been on a table and we have been somewhere and seen it i mean they haven't done too much time no no not a lot you know i've had a lot of bad beats on the craps table sure but i don't think you've won a bad beat jackpot triumph i'm no it's just been bad beats against me which i get nothing for up to talk to them about see if we could we have a bad beat young like when i've got a six hundred dollar six and its immediate outcome i get like two hundred back they might do it for you bend over backwards for tell you funny story real quick lhasa last night i went out there real quick just to get my free play and there's only one table and it was full sure and one of the players out there david who's a friend of ours he says to me just have them opened another table and i well they probably don't have enough dealers you know it's tuesday night and he's like no no no just how they'll do it for you they'll do and i thought about it for a second i thought no i'm not gonna like ask him to open he's like other some other dealers around they can just close and another table or i am out next call they mark conduct mike this is mike from indianapolis to give you a call if you a quick little report from hollywood casino in lawrenceburg indiana my brother and i went down there last saturday or actually the sunday but plenty crafts we're playing a little bit of the dark side a little bit iron cross anyway i had i think ten dollars don't pass and had blazed fifteen dollars an odds couple of roles came out shoot if there five made this point so i'm like oh crap so the dealers are paying you pass on payments pay my don't have paid on so i kinda just looked at it there for a little bit then the guy beside me kinda looked over they dealer started doing their any kind of getting ready for the come out roll and i went ahead and break my on my ships in put a five dollars back on the pass line just to make it look a little more like the pass line the one guy behind these like you know that was very never seen that before the dealers like what's somebody's hips my brothers hit the dealer he's like no you pay the guys don't pass it's really then i'm like oh say anything don't say anything but know collected the money up in their chips back the other guys like yeah you pay don't pass he should've should've paid it the one deal it looked over at the box and the box they looked up and he's like this a well carry on so anyway we lose them like three hundred bucks he so they got the money back anyway the long run but there's just kind of funny how the not even to me he was playing but he wasn't in my hand calls out that you know dealing state that hurts the players so just wanted to give that fee and hopefully i can get some lucky guys have been have because my luck has been horrible the last six months or so just in the horrible slump at the craps table of watch check anyway love the show callback back sometimes in talking letter thinks well good for the box men for yeah on ever right as good for him good terrible on the other player with the here mike you deserve a huge winning streak now for somebody to do that to you i hope he's on such a he peter now i hope he's got like two months of just awesome la i think there are three kinds of people when we're talking about this the first kind of personal just kind of look what happened there yet for you the other is like oh you shouldn't have paid him and then realize it's like us oh sorry right it was just and then there's now you shouldn't have paid him that was wrong kind of the pedantic you know how it has to be i kind of towards the second or third person to be just my personal but i try not to ever do that because you know sometimes it really is just a mistake like oh my gosh i didn't mean to cost you money well i'll tell you what though it's happened to us been paid or more often than not where they haven't collected are losing ben and we just let it sit there for a while and then you know yeah i mean i never just grab it real quick right run away i just let it sit there and then after the you know they're already coming out on a new number some things like oh i don't need my odds here i guess pick up vic he's odds up but i would have been fuming that guy and thank god the pit boss is smart enough to just whatever yeah you made a mistake and you know what that's going to depend on the casino though too right right if they really sweat the money that might be sitting there is anybody i'm sorry we have to go to the eye in the sky or whatever he does my job right right he might go to the eye in the sky but i'll tell you what it's good p._r. and it's just like mike said they get the money and run into right right right so then nobody's happy you know you don't have unity have mike punch in the other guy out of the box thinking well my boss isn't well i don't wanna start a fight right guys we're going to get their money anyway it's not like they're going to walk away right yes we have a big enough house edge yeah since we're not letting people put a don't pass bet after a point it's been established we've got enough of a house edge that we can make up for that mistake and it's thursday yes so we're gonna win exactly seems to be a running theme on this episode hey how stupid thursday is who's next melanie yes she is comes hey there merkin dr mike this is melanie from colorado calling a really enjoyed your latest cast let the good human stories i was in vegas ago i went to champagnes which is a jive over on maryland not a great part of town about two miles east of the nation really the places on bar rescue so go in there pretty sketchy you wouldn't take it out so it's on tier yoki night somebody brought thrown sex they're playing their saxophone is they're singing it was really good i played the deal poke at the bar ended up national for nine hundred dollars it was really hard for them to scrums to get a nine hundred dollars they paid me kind of wrinkled rumpled twenty dollars bills it into my wallet and now i'm just been publicly paid in this place that serves six dollars fashions anyway kinda hung up awhile and then made a dash out the back door from khartoum's fine religious story to friend of mine who was down the street at the sunrise or psycho yeah took care of a girl i got stabbed in the bathroom anyway no stabbing occurred it was actually really good time check it out doug is the owner in we'd back there another day and he remembered me like oh yeah you just on the ballot is like oh wow nice people you want a non dr mike divy vegas experience really cool there's a lot of all biggest vintage autograph because golden and the little anyway it's going to daylight did the second time love your show guys by champagnes anytime soon in the day lies daylight and watch your back on the way it's a good story that's funny that's funny about them having a hard time pain the next that is a risk when you play those machine is at little places like that i've heard stories of well we don't have the cash on hand we oh yeah what did i do i have to sit here so right keep having mind you want a real big jackpot it'd be it might be run really rough that's true well this reminds me of a story my wife told me that her dad years ago there was a tiny little indian casino not too far from where they live along the mississippi river okay okay this is the days when it called it a casino but it was basically a card right so him and his buddies would get together every morning and play euchre some car game and they decided after planes mukul morning they'd go down to this little card room and play so they went down there and evidently it was the house banked games okay and i don't know exactly what they were playing my wife does know but she said there were five of them and they each one a couple of hundred bucks it was like a thousand dollars and then the next day it closed down so he swore for years now i don't know the particular this but he swears and my mother-in-law still swears that they put them out of business oh really small and they they won like a thousand bucks total the five eight literally broke the band you literally broke the banks said and she said it was like like someone's living room it was it was a really small ball reservation down right on the mississippi river and they had a little card room to make money and they got hammered that one more for a thousand bucks that's a great song oh that's a great surprise you've never told me well you know it's funny i just didn't think about until just now but he for you know he's passed away now but he would say yeah i remember we closed down has seen a you mentioned euchre to euchre zaveri midwestern game very popular mid west a lot of people probably you've never heard of it have you ever played it oh yeah it's a it's a tie play a long time ago isn't it where jack is the highest card yeah isn't that right yeah okay so i do remember a little bit they play a lot of euchre and a lot of cribbage oh yeah blaming all the kids all the guys would get together in the morning down at his actually the v._f._w. home but in the morning they serve coffee and donuts or something right and so they'd be like twenty guys four at a table playing either euchre cribbage or you know partnering up yeah and giving each other a hard time and so then you know these five guys decide they're going to go down and play at this casino wipe them out and it's great all right next up is donald donald for northern virginia once again i appreciate all the love last couple shows playing my voicemail hopefully this was informative as well i don't know where heard about it maybe was just a youtube videos but if america conceivable guy two thousand nineteen maybe it's from you guys i have no idea but anyway there is like a bevy of coupons medac this thing and i chose to grab all the ones from vegas and i am literally about halfway cut these bad boys out and i'm probably looking at ten or twelve rather obscure casinos but they're all in vegas vegas area tons of free play mostly like ten dollar like match play or free play free bad or something like that but wanna take a tour of vegas girl little obscure casinos probably make money off this free place anyway decide let you know he'll be well but you know american casino guide we've talked we've talked about it now also las vegas advisors specifically for vegas most coupons anyway you're gonna easily make your money back on purchasing these or subscribing to them with all the great coupons that they have so definitely just as a word of advice though to donald do not go to champagnes with your coupon at night yeah yeah trouble that's a trick nice yeah look he probably have one in there melody's pitcher on there we gotta get back our money all right next up is lee hey guys leave the northern california longtime listener first-time caller and it's wanting to send my sentence about you guys not hitting royal flush on video poker 'cause i am now four hundred fifty five straight days in of playing one hundred dollars a my local indian casino of video poker and i still might hit a royal flush you guys aren't the only one if i get up by over fifty dollars a cash out video poker and i've moved to hundred hundred so all of a sudden shed and done i just got my printouts my wins losses from the sinoe couple of days after new years was down a little lower seventeen thousand dollars last year who all the yo poker tying he beat you guys to royal flush hopefully when hit it i will call you guys hewn out forward in jubilation until then thanks you guys show and all that you do thank you lee i hope you get to your playing five dollars so you can make up your seventeen thousand when he hit the royal i'll tell you what i'll guarantee this league gets it before me for sure yeah good from four crazy last weekend i played my replay mark i must have at least three or four times had four to the roy and never i had three draw on i did it last night i had three i got one all right one more call from tom hi guys great show i just listened to your podcast beginning jamie where he started with episode one and hopefully i'll get through the religious episode played on calling until i got done this to all that so but i said something in the sixty episode about half the pay taxes on a big win my question is why he's a high stakes cable wife would claim his losers also has they use different do they give you a tax form with your women's cable what did they give him the tax one when he went to cash out chips hairy connecticut are conceals you've not given the tax form and you actually go to the chips i won approximately eighteen thousand dollars a couple of years ago and found this out if you've got less than ten thousand dollars and i give the poor so if you went to two different counts years you're not taxed on it i'm really interested is by the uae even have to pay any taxes on his wedding you guys are doing a great job i play like call him back thank you competency let me get okay go visit good question tom so yeah let's go through this because it can't be a little confusing but we're basically talking about two different things here to different forms a w. two gene and a currency transaction report call the c._t._r. they're two different different things now w two gs are the forms that you get when you have certain big wins at the casino like if you're on a slot machine and you win twelve hundred dollars or more yeah mostly slot machine rarely are you giving a w two g at a table game because they only issued w._2. geez at table games when the winnings on a bet or at least three hundred times the original wager and the amount being paid is over five thousand dollars so the only time that's going to be the case at a table game is when you're playing some kind of side bet with a jackpot right so mike the only times that you have ever gotten a w two g at a table game is when you've won the fire bet right the six fire bed six on the fire exactly because in those cases it falls under those two requirements at least three hundred to one and it's more than five thousand dollars right okay so you could be at a table blackjack table craps table wherever if you win fifty thousand dollars and you're just playing all the regular beds no they will not give you a w two-tone you do not get right because the highest pat on the craps table thirty two one on hop pets right the highest bed at a blackjack table again not counting side bits three to two right so you have or sitting a damn you okay so that is a w. two g now c._t._r.'s when you cash out at the cashier for ten thousand dollars or more in cash in other words you're not paying off a marker the casino must fill out a c._t._r. c._t._r.'s are sent to the financial crimes enforcement network of the i._r._s. and they are to help prevent things like money laundering terrorist financing that kind of thing okay so -posedly that is a requirement now the big distinction here is a w. two g yes the i._r._s. uses that to determine how much you owe in taxes that's not the case for a c._t._r. no that has no bearing on your tests right c._t._r. even though it through the i._r._s. it's just so that they know if some big cash transactions they're they're tracking multiple cash transactions and in fact the casino is supposed to fill out a seat if you cash in at a table for ten thousand dollars or more in cash again not getting a marker right you know but in cash so the two different things w two g at a table yes that is taxable income c._t._r.'s just so that they're trying to prevent crime now mike when you work very closely with your accountant when you're doing taxes at the year so everything comes out in the wash yeah it all gets washed out because the loss is offset the wind right at least the last few years certainly has been the case now i mean there might be a year where i win tun and don't lose that much and then i do have to declare but yeah it usually i have enough law since two to write those big wins off let's say one more thing to because tom kind of alluded to this if you were to do something like he's suggested where you've got say eighteen thousand dollars at you you need to cash out for and he decided to go to one cashier and do nine thousand dollars and go to another cashier late her within the same day into another nine thousand dollars that's called structuring and it's illegal you're deliberately trying to avoid having a c._t._r. written against you so be very careful with that it is illegal and it is a federal crime we always joke on the show about how we're not lawyers and we're not accountants we really aren't so yeah you know don't take everything that we're saying as gospel certainly check with you know your professional and it it might matter in where you are in the country to yeah i mean there's federal laws and then their state laws and they never jive yeah i mean that's for sure one of the things that that i find interesting is that the one monitor this well if you're like you and i and you go a lot it's not unusual for us to cash out for like seven eight thousand one night and the next night cash out for seven eight thousand but we bought in for five yeah see that's the other thing is he i didn't win eight thousand one three thousand but we're member few years back mike we were playing it win i think we were staying at win and so we played there almost exclusively and on the third day every time i was buying in for five hundred dollars every time right and on the last day i was buying in for five hundred day always gave my car to course and they came around the table and said anyway mr mr of all we need your so scared supposed to charity number they've done that to me a million and and that's what it is they're maybe they're paranoid i don't know but they're trying to stay within the law about money laundering and that kind of thing right and i don't know how far that goes they've asked me for mine lot when i've multiple times in a trip i've cashed in for like three or four thousand but it's the same three or four thousand by then you go show because you wanna little and then you buy back in again you know a few hours later with another three or four it's so weird it's i don't know what the government how they track that or what they do with that information but it just to me it doesn't seem to make a lot of sense well folks just try not to break the law i guess that's our well that jinro role for yeah that way you avoid jail and every day thursday when you're in jail well that's going to do it for this episode hey we want to thank some people for some pay pal donations first of all recurring donations from brian dancer also from brian and sarah and from joshua thank you very much also we gotta pay pal donation from michael james he says i am heading out to vegas for the super bowl festivities with my beautiful bride but enough about me this donation is specifically designated towards two general admission sandiego soccer's tickets that's our indoor soccer d._s._l. all the soccer's with s. o. c. k. e. r. s. you've got landon donovan services for ten to fifteen games time to pay for that honor thanks for the great content he signed with a song landon donovan is probably the premier outdoor soccer player in the united states okay now he was on several world cup teams may be considered one of the best soccer players america's ever propose retired yeah and he signed with the soccer's because he he's from san diego okay now the funny thing is there was an article in today's paper he he was at practice and he said how much he enjoyed it he said he felt like he was eighteen again oh that's great and he's he's older and he had to retire for you know he's getting old and our ex neighbor we used to live next door to us is the is the assistant coach for the soccer has been for many years indoor soccer is so much fun because it's a much smaller pitch pay and you can play it off the wall actually more scoring than hockey even way more scoring yeah also donation from david i had a great time playing with you guys two weeks ago and since dr mike wouldn't take repayment for the generous winning bets he made for me i figure a pay pal donation can't be refused hoped to play more often with you guys oh so i guess this pay pal donations specifically goes to you david this last weekend when you weren't there they were talking he didn't say he gave bape belbow nice surprise but yeah i i made a bet and it was just good timing hit because he was being so patient well that he came up in the middle of a role and it was this huge role and so he was was just what he wasn't buying in and we felt bad because he was going to bet the six and eight and these six is nate's money wanna throw money on the show i just took my chips bets for and then they hit nice oh david hay it was my pleasure i was in that was nice and finally a donation from vinnie he says thanks for everything you guys do in vinnie is starting a new podcast here soon that he's going to call seven out nice oh it's going to be that's really good seventy now i know really should be called pay the line yeah pay seven out again hey i'll tell you what sometimes seven's a good number yes it is mike left the mike's big new thing now is to hop the seven all seven so that's three separate bets where you're betting on each of the possible combinations of seven on the dice right one six hop on the only on coming on the come out and then if it hits he presses it and presses it and what you had to say thirty dollars it hit i pressed to ninety ninety dollars one okay that pays three hundred ninety and then i pressed it to one fifty and that hit that pay six hundred and fifty yeah so then of course i went to three hundred that hit pays thirteen hundred and then i what can i do i went to six hundred dollars which is the max the mac here yeah and seven came up twenty six hundred bucks and i was such a high everyone was like oh you know and then i left it out there because i can't increase what can you have course and in six came up so folks that's dr mike in a nutshell i recommend a non making this bet but when you hear a story like that oh it was so nice a._b. sure to check out our t._v. listing showing all the gambling related shows coming up within the next two weeks we update those listings every wednesday using a customized program that searches through all the raw american t._v. data just go to you can bet on that dot com slash tv dash listings we'd love to hear from you caller voicemail hotline at nine five one two nine two four three seven seven that's nine five one two wagers or you can email us at you can bet on that at gmail.com you can also follow us on twitter at you can bet on that and on facebook at facebook dot com slash you can bet on that finally please go to your favorite podcast app and write a review on us we getting your feedback what are you doing for the super bowl dr mike but i was just going to ask you are you one of the six point nine billion people that are rooting for the ramsey here wait one it is really one of those situations where i'm sure most of the country is rooted for the rams now i know there are plenty of avid role rabid patriots fans right so i understand that but it it is one of those super bowls where the majority of the country i think i think is going to be two reasons number one people feel like new england's one enough sure that's always i've talked to people who said i just wanna see him loose twice in a row to see you know bill check in brady the genius and the greatest quarterback ever lose two super bowls in a row and then you know we're in southern california so there are a lot of rams fans rams people that we talked to a rams fans real quick story last night pit boss out at harris mark who deal sometimes was dealing oh okay and up on the tv they had you know e._s._p._n. two or something and they were replaying the rams saints play off from the other day and it was at the beginning of the game when the rams are actually losing the saints are up like fourteen nothing and then the rams scored and a turn amar who's this huge ramps fan i mean he's a huge yup and i said oh look it looks like the rams are coming back maybe they'll cheer at the end and win this game me me he's just like i don't care what you call in they don't put cheater on the ring they just give you the read oh that's great so he's been getting so much grief y'all we all other deals because he's he's such a die-hard ranch fan so you can't help but like rub it in oh they shouldn't be there they don't deserve it i'll tell you what so many plays in a football game yes sure you can't hush us one play at the in concern things one bad call but there's so many you know why wasn't new orleans up by thirty points then it wouldn't have mattered right i understand that it's just it's one thing to say okay if not for this certain play it's another thing to say if not for the refs run just hate for the refs to detri- outcome right well they should suck their whistles up at the end of every close game just take him away just no refs that three four all last minute last minute no penalties no rest hopers time no time no round my solve all of the n._f._l.'s problems so boulder problems roger goodell overtime no refs they just leave no we only play him for a game you know i'll tell you what we don't need any kind of monetary compensation just give us credit yeah coming up credit credit every time the n._f._l. has to say and brought to you by dr mike over time without rest oh my gosh well thanks for listening good night more that was wonderful i had no idea you were so talented the audiences can do
Gambling Podcast: You Can Bet on That
Aired Last month 12:14
Ep 09 Debt Story: Meet Chelsea
Waltham. Everyone to another episode of debt stories real people beating debt and winning financially. Today, we meet Chelsea who lives in Tri cities Washington with her husband and their two dogs, a German shepherd and a Chihuahua. Chelsea's job is in marketing. I work at the visitor center in our communities. It's a nonprofit, but the destination marketing organization I worked to bring corporate and government groups to our community on her husband is a mechanic and a teacher. My husband has two fulltime jobs, which kind of is into the plays into the whole debt repay off strategy. So he is a mechanic at our local transit agency. And he does that in the evenings. And then in the daytime he actually teaches local high school students how to work on diesel engine. He worked seventy five hours a week. And we're always ready for the weekend by the time that it comes around. This is the tale of how they said Aloha to a whole lot of debt. We were married in June of two thousand thirteen and I guess most of our debt really did come from the wedding. We got married on the beach in Hawaii. It was a beautiful ceremony, and we were super happy. They were super happy. But Chelsea admits their life at the time was also super pricey. I was a little on the high maintenance side where I needed my reception dress than I needed, my different pairs of shoes, and that sort of thing and then at the same time my husband's I'm he's really into outdoor stuff and hunting, and that's a really expensive hobby. And so kind of a mix of I guess life being a little out of control is what what really started our debt. We got married when I was twenty one, but my husband he's a little bit older. I think he was twenty seven or twenty eight he was always really good with finances, and he had never had any sort of credit card debt. But you know, he kind of abides by the happy wife happy life. And that's kind of how we got were worth thought make sons we had a really nice wedding ceremony. We had about fifteen people from our family that came over, and it was a beautiful day on the beach, and so total. We had it was about twenty nine thousand dollars in credit card debt. It wasn't all our wedding. But what if it was from the transportation, I guess getting getting over to Hawaii and paying for efficient and pain for everything that goes along with that. And then we also had we had about twenty eight thousand dollars in vehicle loans as well. Well, they don't regret their Hawaiian wedding. Chelsea says that if she had it's all to do over. I wouldn't have necessarily changed a lot of the details. But I think that at that point we were young, and we like to go out, and I'm sure that we would have been able to cash flow a lot of this stuff, if we would have just gotten our priorities right that and then the reception dress just didn't quite work out the way that I thought it was going to end it never actually made it out to Hawaii. Then eventually one day as part of our debt repayment strategy. We got a yard sale, and we sold it. So I would change that I would have left that at the store, and I would've worked on cash flowing. I won't argue with her their pain. Cash is always the way to go. Not only do you. Enjoy your splurges big and small completely guilt. Free cash. Also helps you sidestep disasters. We actually had a couple of those the first one came when we got back to our community. We had a reception for our friends and family that weren't able to make it to Hawaii. And as we were getting ready to pay the caterer it became apparent that? We didn't even have enough available credit to pay this cater aches reality. Check number one. Yeah. A couple of those wedding cards got opened a little a little early. If you know what I? We made it happen. We got taken care of really nice reception. But I probably would do that a little different choices then twenty one and her husband twenty-seven. We're married importantly, the reception caterer got paid. And then it was back to reality beginning life as a newly married couple after our wedding reception happened. I remember it was either that weekend or it was the following weekend sitting on our patio kind of talking about what a nice couple of weeks. We had had. And it had been one of those things where the financial part of it was just always looming. It was just always kind of hanging out there. And we didn't really talk about it. And we didn't really think about it. And I said, well, what did you think about, you know, having open our wedding cards early and spending that to feed our guest, and he said it scared me, and I I did not like that at all. And I said, you know, I. I've looked at what we owe. And to be honest with you. It's really scary. It's terrifying. In fact, because this kind of thing that ruins relationships, and I'm sitting here looking at my husband, you know, two or three weeks at this point. And it scared me we had a really good conversation. And we talked about exactly what we should do differently. And that's when we really worked to, you know, outline all of our goals and exactly what we needed to do to get out from underneath those that was an important for step knowledge in their debt problem and deciding to do something about it as a team next. They took action. We kinda downloaded this debt snowball excel document where out implement debts, and that was scary because there were on this website that I used to download this. There were two difference. Editions of the snowball. Calculator the one you could it was for ten creditors or less and the other was for late. It was twenty five or more. Luckily, I have to tell you. We had eleven creditors. So I didn't feel as bad. You know, it's the people that need to twenty-five, but still I was looking at this, you know, massive amount of debt, especially when you consider that we were young and our incomes were a lot less than they are now. You know, it was it was released Gary, but I'm totally unexcelled nerd, and I made some changes to the spreadsheet, and at that point we were paying twelve hundred dollars an interest per month. And that was terrifying. So our monthly payments was three thousand dollars and that included a hundred dollars worth of a snowball. So including our house, our total debt, it was about two hundred and fifteen thousand dollars, and you know, that's terrifying to Ouch. Twelve hundred dollars in interest payments on two hundred fifteen thousand dollars of debt win at the time. Chelsea and her husband rolling earning about seventy thousand dollars per year. Combine a big breakthrough for us came when we took a lot of our credit card debt, and we did a balance transfer to zero percent credit card one of our cards. It was almost twenty percent interest. Ants in that cart. We twelve thousand dollars on that card, and you know, we were paying a lot in interest. And so once we figured out. What does your percent interests period was four? We basically did the math and backed it out from there. So if it was an eighteen month interest period than you know, we took our balance, and we divided by eighteen and that was kind of how we did that. So once we did the balance transfers, we didn't pay any additional interest at that point. So good that fish debt come up with a plan, and they were sticking to it. Of course, even the best laid plans have a wrinkle or two. I had a car that was totally paid for paid cash for it, and it needed more work than it was worth even with my husband doing all of the work as a mechanic. So we actually ended up in this time since June of two thousand thirteen to now we ended up paying cash for a car for me total. It was about fifteen thousand dollars. And then we also in that time. We've also did our kitchen renovation and our bathroom renovation. Not bad. They're paying down the debt. And even though they bought a car and did some work on their home. They didn't backslide they paid cash, and they were putting a lot more thought into their choices as we were looking through some of our poor financial decisions to the past. I figured out that my husband's truck was at a really high interest rate. And so we ended up because we had extra women are snowball we sold that truck and we purchased a new truck with zero percent interest. So whip dot now we owe about one hundred twenty thousand dollars on our house. And then we owe about eighteen thousand dollars on my husband's truck, and that's all of our debt phenomenal. They're completely free from credit card debt with why? Now, we actually do use rewards card for our everyday purchases in that off. But for now, we are working to pay off our truck, and then we'll probably take a really cool vacation or something like that. As for their biggest outstanding debt the mortgage. Chelsea says we did on the refinancing our house when the interest rates were lower my husband purchased the house before we were married. So the interest rates had gone down quite a bit. So we refinanced last November. We took it from thirty year mortgage down to fifteen and I think we make about one hundred dollars extra in principle right now with so much to celebrate Chelsea and her husband are considering a trip back to the Aloha state to renew their vows except this time they've tacked on an extra vowel. Well, so we're talking about it for five year anniversary. And I think it'd be really cool to renew our vows we we haven't exactly figured it out just yet. But we know that if we do it it'll be it'll be cash flow for sure because we are never doing that. Again, always pay in cash now that's how that can help your marriage stand the test of time through their debt pay off journey Chelsea and her husband have become quite discriminating eliminating unnecessary spending and unnecessary clutter. We cut our cable. We put our internet down to a lower package, and when we got back from our wedding. And we had a bunch of really nice gifts that we had received from our wedding guests, and we ended up selling a lot of the things that we had just kind of hanging out around the house. I learned the art of Craigslist. I learnt the art of the yard sale. And we got rid of a lot of things that we thought were necessary that we found truly were not necessary. So watch their entertainment budget. We really liked to go out and have a good time. And we still do that. But rather than it being just a Tuesday night. And now it's more of like a planned date night type of thing. So we cook at home a lot more. And we just do whatever we can to be resourceful with what we have. So especially as my husband works, so many hours, and I hurt fulltime too. But focusing on him here, you know, working seventy five hours a week. It's important that because of the time that we're giving up too. So that we can work. It's important that we're good stewards of the money that we're getting in return for the time, you know. And so we're watching every single transaction as it's hitting our account were managing everything, you know, against the budget that we've said at the beginning of the month or the beginning of the week, in fact with that we're able to make good decisions that really aligned with our goals, and where we want to see ourselves in the future. Georgia was that they've put in some serious work hours to dig themselves out of the whole remodel their home and pay cash for Chelsea's car. It sounds like they're truly appreciating every dollar looking back Chelsea is grateful for their beautiful wedding day. And even though they faced a frightening amount of debt they've come out on top their secret. We just made it a point that if we were making the decision to spend money that we were on the same page with that. And that has never seared us wrong. In money and in married life. You really can't go wrong with teamwork.
You Need a Budget