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30 posts found
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Jul 20, 2011
AllInAt42031 posts Regular |
Chipmeup Events / Event 100648: WSOP - Stout's 2011 WSOP Package (+ Bellagio n Venetian) Dark_Matter_13 - Sheets/Bax had no piece of the original entry, and therefore it'd make no sense for them to pay $5k if they'd have to split the winnings with investors who paid no piece of the second entry. This is not a rebuy tournament where I can take both entries at once, so the funds can never be mixed. I agree that it was an awkward situation, but the Bellagio making a last-minute decision to allow re-entries made it impossible for me to factor it into the way the package was designed.As far as the strategy being different with re-entries, I'll say that it's true to an extent but that it's very different than a rebuy tournament, especially in a small field that has many tough spots. I wouldn't just gamble it up so that I could rebuy if I bust, just like I won't multi-table events @ WSOP because I refuse to piss away equity even (and in a way, especially) when a bunch of the money belongs to investors. Luckbox 1608 - correct END OF SUMMER SUMMARY: Event 4 - No-Limit Hold'em Jun 02 $5,000 - BUSTED Event 7 - Pot-Limit Hold'em Championship Jun 03 $10,000 - BUSTED Event 13 - NL Shootout Jun 08 $1,500 - BUSTED Event 14 - Limit Hold'em Jun 08 $3,000 - BUSTED Event 18 - No-Limit Hold'em Jun 11 $1,500 - 273rd place, $3,153 Event 19 - Limit Hold'em Six Handed Jun 11 $2,500 - SKIPPED, REFUNDED Event 24 - No-Limit Hold'em Shootout 2,000max Jun 14 $5,000 - BUSTED Event 26 - No-Limit Hold'em / Six Handed Jun 15 $2,500 - BUSTED Event 28 - No Limit Hold'em Jun 16 $1,500 - BUSTED Event 38 - NL Hold'em Jun 22 $1,500 - BUSTED Event 39 - Pot-Limit Hold'em/Omaha Jun 22 $2,500 - SKIPPED, REFUNDED Event 40 - No-Limit Hold'em Six Handed Jun 23 $5,000 - BUSTED Event 46 - No-Limit Hold'em Six Handed Championship Jun 27 $10,000 - BUSTED Event 48 - No-Limit Hold'em Jun 28 $1,500 - 8th place, $63,032 Event 50 - No-Limit Hold'em Triple Chance Jun 29 $5,000 - SKIPPED, REFUNDED VENETIAN DEEP STACK PRELIM Jul 7 $1,600 - SKIPPED, REFUNDED BELLAGIO CUP MAIN EVENT Jul 12 $10,300 - SKIPPED, REFUNDED VENETIAN MAIN EVENT Jul 13 $5,000 - SKIPPED, REFUNDED BELLAGIO CUP POSTLIM Jul 18 $5,180 - BUSTED (Was a re-entry event, busted this entry and mincashed my re-entry when playing the event for Sheets/Bax. Noted in comments above that I was playing the first entry in the package and may re-enter playing for Sheets/Bax if I busted prior to entering the event.) Total amount of buy ins before refunds = $80,080 Total amount of refunded buy ins = $26,900 Total amount of refunded buy ins with markup = $34,970 Total amount of cashes = $66,185 Cashes + refunds with markup = $101,155 |
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Jul 18, 2011
AllInAt42031 posts Regular |
Chipmeup Events / Event 100648: WSOP - Stout's 2011 WSOP Package (+ Bellagio n Venetian) I'm about to enter the Bellagio $5k event, the last event of the package. They recently changed the event to be a re-entry event, so if you bust early you can buy back in. If that were the original plan I'd have put two entries in the package, but since I wasn't able to I may re-enter the event under my backing deal with Sheets and Bax if I bust my first entry in this event. I just wanted to post prior to the event for full disclosure and clarity. |
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Jul 8, 2011
AllInAt42031 posts Regular |
Chipmeup Events / Event 100648: WSOP - Stout's 2011 WSOP Package (+ Bellagio n Venetian) Skipped the Venetian $1600 event since I didn't realize it's a 3-day event and it created a scheduling conflict for me, so that'll be refunded as well. |
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Jul 6, 2011
AllInAt42031 posts Regular |
Chipmeup Events / Event 100648: WSOP - Stout's 2011 WSOP Package (+ Bellagio n Venetian) Quick update: I've cashed for $66,185 in $49,600 worth of buy ins. I missed WSOP events 19, 39, and 50 due to deep runs in other events for a total of $10,000 worth of missed buy ins that will be refunded with markup. Each $11 share is current worth $7.99 and there are $20,480 of events still remaining between the Venetian and the Bellagio Cup. Thanks for investing, everyone! |
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Jul 3, 2011
AllInAt42031 posts Regular |
Chipmeup Events / Event 100648: WSOP - Stout's 2011 WSOP Package (+ Bellagio n Venetian) romanianshark - please stop spamming. Mods, please remove post.Thanks guys, def ran pretty gross at FT but played my best which is all I can do. Planning on shipping the Bellagio Cup main to make up for it tho. =) |
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Jun 15, 2011
AllInAt42031 posts Regular |
Chipmeup Events / Event 100648: WSOP - Stout's 2011 WSOP Package (+ Bellagio n Venetian) www.facebook.com/allinat420www.twitter.com/mattstoutpoker |
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Jun 15, 2011
AllInAt42031 posts Regular |
Chipmeup Events / Event 100648: WSOP - Stout's 2011 WSOP Package (+ Bellagio n Venetian) Thanks Dwayne and RTK.Cashed event 18 for $3,153 and missed event 19 as a result, for those not following my updates on twitter and facebook. |
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Jun 10, 2011
AllInAt42031 posts Regular |
Chipmeup Events / Event 100648: WSOP - Stout's 2011 WSOP Package (+ Bellagio n Venetian) Regarding the 1500 six-max event not being in the package, I did mention in the original post that "I'll be playing the WSOP Main Event and some prelims for my backers (Sheets/Bax), which is why they're not listed. I've included all events I'm not backed for."I am planning on winning one of the events in this package tho. =) Regarding taxes, I'm American and therefore not subject to any tax witholdings at the cage. I will probably only go through the formality of writing up 1099 forms to transfer tax liability in cases where the person profits more than $1000 from their share. All I would need is name and social security number so that I could have my accountant prepare the forms. The person would then be able to write this profit off against their own gambling losses for the year. |
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May 30, 2011
AllInAt42031 posts Regular |
Chipmeup Events / Event 100648: WSOP - Stout's 2011 WSOP Package (+ Bellagio n Venetian) 650 of the shares have been reserved for people paying by other means. I've reserved shares for these purchases before, but can't seem to figure out how to do it. Right now it says there are 778 shares left, but there are really only 128. If anyone attempts to purchase any of the final 650 shares before I can get in touch with the people at CMU to list them as reserved for me I will have to issue refunds.Thanks for buying, guys! gl |
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May 26, 2011
AllInAt42031 posts Regular |
Chipmeup Events / Event 100648: WSOP - Stout's 2011 WSOP Package (+ Bellagio n Venetian) ...What? |
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May 24, 2011
AllInAt42031 posts Regular |
Chipmeup Events / Event 100648: WSOP - Stout's 2011 WSOP Package (+ Bellagio n Venetian) loltootsiements |
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May 22, 2011
AllInAt42031 posts Regular |
Chipmeup Events / Event 100648: WSOP - Stout's 2011 WSOP Package (+ Bellagio n Venetian) Cool PPP08...text me if u wanna reserve tho. I know it looks like I have a lot of shares here that need to be sold but I'll be able to get rid of them pretty quickly privately if I end up needing to, so there probably won't be any action left by the time u get to Vegas. |
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May 22, 2011
AllInAt42031 posts Regular |
Chipmeup Events / Event 100648: WSOP - Stout's 2011 WSOP Package (+ Bellagio n Venetian) Comments for this event go here... |
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Dec 20, 2010
AllInAt42031 posts Regular |
Chipmeup Events / Event 84966: Harrah's (Atlantic City) - 2010 WSOP Circuit - 10k Regional Championship - NL Holdem Bustout hand was a really weird hand vs Vanessa Selbst with a lot of factors, but lost with AKo to her J8o in a 3bet pot. Lost 100k pot all in pre with AA<TT, but did win an 80k pot with AQ>KK to be fair. |
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Dec 20, 2010
AllInAt42031 posts Regular |
Chipmeup Events / Event 84966: Harrah's (Atlantic City) - 2010 WSOP Circuit - 10k Regional Championship - NL Holdem Sigh... bustout hand was a really weird hand vs Vanessa with a lot of factors. Losing 100k pot all in pre with AAKK to bust Shulman.Thanks to all the investors. I'll be putting some of that CMU cash backing into the community soon, and hopefully shipping the next tournament I sell in. =) |
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Dec 20, 2010
AllInAt42031 posts Regular |
Chipmeup Events / Event 84966: Harrah's (Atlantic City) - 2010 WSOP Circuit - 10k Regional Championship - NL Holdem Definitely true factors RTK. Was unaware that miniFTOPS was going to conflict and originally thought the Xmas time date might actually help the draw, but in hindsight I guess I should have realized that it's basically an extra week that amateur players would have to take off from work to show up. |
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Dec 20, 2010
AllInAt42031 posts Regular |
Chipmeup Events / Event 84966: Harrah's (Atlantic City) - 2010 WSOP Circuit - 10k Regional Championship - NL Holdem Thanks again admin! =) |
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Dec 20, 2010
AllInAt42031 posts Regular |
Chipmeup Events / Event 84966: Harrah's (Atlantic City) - 2010 WSOP Circuit - 10k Regional Championship - NL Holdem like to note* |
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Dec 20, 2010
AllInAt42031 posts Regular |
Chipmeup Events / Event 84966: Harrah's (Atlantic City) - 2010 WSOP Circuit - 10k Regional Championship - NL Holdem I'd also note that I'm pretty disappointed in the turnout for this this tournament and expected it to be much bigger. =/ |
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Dec 20, 2010
AllInAt42031 posts Regular |
Chipmeup Events / Event 84966: Harrah's (Atlantic City) - 2010 WSOP Circuit - 10k Regional Championship - NL Holdem Ended day one with just over 26k at 300/600. Peaked at around 50k and was well above starting stack the entire day until literally the last hand of the night.RTKabuto - I'll post updates each break at www.twitter.com/mattstoutpoker and www.facebook.com/allinat420 |
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Dec 19, 2010
AllInAt42031 posts Regular |
Chipmeup Events / Event 84966: Harrah's (Atlantic City) - 2010 WSOP Circuit - 10k Regional Championship - NL Holdem Just let him know I sent you. =) |
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Dec 19, 2010
AllInAt42031 posts Regular |
Chipmeup Events / Event 84966: Harrah's (Atlantic City) - 2010 WSOP Circuit - 10k Regional Championship - NL Holdem Jeff - in case you were serious, Russ Fox rcfox@claytontax.com |
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Dec 19, 2010
AllInAt42031 posts Regular |
Chipmeup Events / Event 84966: Harrah's (Atlantic City) - 2010 WSOP Circuit - 10k Regional Championship - NL Holdem Thanks Ken!And thanks to Tony G for picking up 200 of the last available shares! |
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Dec 9, 2010
AllInAt42031 posts Regular |
Chipmeup Events / Event 84966: Harrah's (Atlantic City) - 2010 WSOP Circuit - 10k Regional Championship - NL Holdem withholdings* |
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Dec 9, 2010
AllInAt42031 posts Regular |
Chipmeup Events / Event 84966: Harrah's (Atlantic City) - 2010 WSOP Circuit - 10k Regional Championship - NL Holdem remainameless - I call it bad business because when people claim they're taking $ out for taxes, they frequently take about 1/3 of the gross winnings. However, the player will often only end up owing a small fraction of what they've withheld to the IRS. This is obviously because a player pays only on his net profits, not of gross winnings.For example, I know someone who sold off a lot of shares privately to friends for a $10k WPT event. He made the final table. When he was paying everyone out, he only paid them 65% of what their shares were supposed to pay out. He claimed that he was witholding it for taxes, but he had so many tournament and expense write offs at the end of the year that he didn't owe a penny to the IRS. He also *forgot* to notify the shareholders and return this *tax* money. I'm not saying that I think anyone who has witheld taxes on this site is shady/not reputable or anything, especially if they DID pay said money to the IRS. However, I definitely maintain that I believe it's bad business for this reason. Filing 1099s would be considered the correct and legal way to go about it. I suppose that if an investor made >$2k with me and were highly opposed to having a 1099 filed we could come up with a fair amount for tax witholdings, but I'd much rather do 1099s so that there's no question about fairness and because I do my best to keep my tax returns completely correct and legitimate. |
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Dec 9, 2010
AllInAt42031 posts Regular |
Chipmeup Events / Event 84966: Harrah's (Atlantic City) - 2010 WSOP Circuit - 10k Regional Championship - NL Holdem Thanks for the welcome, rwestover.I hadn't really thought about the taxes for shares this small to be honest, so I'm glad you brought it up. I do pay my taxes, so it'd be an issue but probably would only need to be reported on my end if an investor made thousands of dollars investing in my tournaments over the course of a calender year. In these cases I would issue a 1099 form stating to the IRS that x amount of my winnings were paid out to the investor. The investor would still be able to write this off on their taxes with other losses, though. I'll try to come up with a formula, but for this tournament (since my last on CMU.com for 2010 most likely) I'll guarantee that I won't issue 1099s unless an investor profits more than $2k on my winning in this tournament. I'd also like to note that I will never, EVER try to lower the amount paid out to an investor and claim that it's to pay my taxes. That's just bad business imo. |
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Nov 25, 2010
AllInAt42031 posts Regular |
Chipmeup Events / Event 84966: Harrah's (Atlantic City) - 2010 WSOP Circuit - 10k Regional Championship - NL Holdem LOL thanks admin =) |
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Nov 24, 2010
AllInAt42031 posts Regular |
Chipmeup Events / Event 84966: Harrah's (Atlantic City) - 2010 WSOP Circuit - 10k Regional Championship - NL Holdem Scott/kickyourace - Yes, for sure. Not sure what I need to do or what it entails since I'm such a newb here but we'll talk. Thanks! |
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Nov 23, 2010
AllInAt42031 posts Regular |
Chipmeup Events / Event 84966: Harrah's (Atlantic City) - 2010 WSOP Circuit - 10k Regional Championship - NL Holdem As an added value bonus, I've decided to combine the ideas of hussainsajwani, rwestover, and DIAMONDxxx. If I cash in the event I'll be randomly selecting one investor from this event, and that person will have the opportunity to play me heads up to win a 50/50 stake in the Sunday Million. |
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Nov 23, 2010
AllInAt42031 posts Regular |
Chipmeup Events / Event 84966: Harrah's (Atlantic City) - 2010 WSOP Circuit - 10k Regional Championship - NL Holdem Comments for this event go here... |
