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  #21  
Old 06-12-2008, 11:22 AM
Scav Scav is offline
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Quote:
Originally Posted by -BT-
weren’t you an accounting major?
come on man crunch the numbers and make it an LLC... what?

i mean i'm down to chase some big pools with ya'll

my only question is:

- do the players that put in the majority of the money have more "pull" or influence on the ticket and structure then say the 1-2 share cat? Or is this a gathering of minds and people's picks won't be judged by their investment size?

just a curious little question

either way, draw it up and i'll have my attorney get back to ya


-bt-
There would be three people (Philcski/Golfer/Scav) that would talk the ticket out and come up with a ticket. These three would be the executors, these people would put 1k in, all others would be considered investors, like buying shares in a company.

The opportunity to listen to the conversation via a conference call type format would be available(probably at 7:30pm the night before), where us three would be talking out the card and coming up with ideas, but a gathering of the minds can cause controversy and chaos, which isn't what this is about.

When buying into a syndicate, not all people have a say, you are buying into an investment opportunity and trusting the people in charge to turn a profit. Obviously this is on a much smaller scale then most sydicates, but I can tell you that you will have some run for the money you will be investing, being alive on a 1k ticket is a hell of a lot easier then being alive on a $24 ticket.
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  #22  
Old 06-12-2008, 11:24 AM
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Bigsmc Bigsmc is offline
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Default Not to toss a wet blanket on the deal....
I'm the type that likes to live or die with my own handicapping.

I have split a few tickets with friends and it drives me crazy (no offense whatsoever meant by that). I would need to know who was calling the shots with the tickets before I could invest.

I have tremendous respect for certain 'cappers here and would feel completely comfortable handing my money over to them. Others, no so much.
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  #23  
Old 06-12-2008, 11:25 AM
Scav Scav is offline
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As far as the LLC, there are major issues with that when it comes to this. When signing a tax form, 1099-G, it goes to the person, you can't assign it to a 'company'.

Can someone post the lingo for the Twin Spires Players Pool, I would like to read on they handle it.

If I remember correctly, they say that you are responsible for your own taxes, but I want to know what they do when the ticket pays over 10k, and the government takes 25%
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  #24  
Old 06-12-2008, 11:26 AM
Antitrust32 Antitrust32 is offline
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Quote:
Originally Posted by Bigsmc
I'm the type that likes to live or die with my own handicapping.

I have split a few tickets with friends and it drives me crazy (no offense whatsoever meant by that). I would need to know who was calling the shots with the tickets before I could invest.

I have tremendous respect for certain 'cappers here and would feel completely comfortable handing my money over to them. Others, no so much.

I would feel comfortable handing over my money to you, Bigs, anyday!

Scav... after meeting him at toga and watching him bet... not so comfortable!
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  #25  
Old 06-12-2008, 11:38 AM
Scav Scav is offline
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Default Well!!
We have recieved Byk's blessing. I'll start working on this ASAP. Actually today at work I'll get some verbage together.

Oh man!!
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  #26  
Old 06-12-2008, 11:42 AM
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Bigsmc Bigsmc is offline
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Quote:
Originally Posted by Antitrust32
I would feel comfortable handing over my money to you, Bigs, anyday!

Scav... after meeting him at toga and watching him bet... not so comfortable!
!!!OOOOOOOOOO!!!

Are you going up to Toga this summer or is that high-falutin' job going to keep you in Florida?
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  #27  
Old 06-12-2008, 11:45 AM
Scav Scav is offline
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This form would allow us to separate the winnings....

http://www.irs.gov/pub/irs-pdf/f5754.pdf
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  #28  
Old 06-12-2008, 11:49 AM
Scav Scav is offline
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Quote:
Originally Posted by Scav
This form would allow us to separate the winnings....

http://www.irs.gov/pub/irs-pdf/f5754.pdf
I am going to run over to the OTB tonight and talk to my friend who runs Arlington OTB, and talk to him about this form. Could be PERFECT for what we are trying to do. MORE TO COME!!
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  #29  
Old 06-12-2008, 11:51 AM
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Bigsmc Bigsmc is offline
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Quote:
Originally Posted by Scav
I am going to run over to the OTB tonight and talk to my friend who runs Arlington OTB, and talk to him about this form. Could be PERFECT for what we are trying to do. MORE TO COME!!
Step back and give him some room, Scav's is rolling.
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  #30  
Old 06-12-2008, 11:52 AM
Antitrust32 Antitrust32 is offline
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Quote:
Originally Posted by Bigsmc
!!!OOOOOOOOOO!!!

Are you going up to Toga this summer or is that high-falutin' job going to keep you in Florida?

i'm just looking at airfare... not bad 64 bucks each way.. and i have a place to stay... what the hell I should just buy it..

Is there a DT toga weekend again?
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  #31  
Old 06-12-2008, 12:02 PM
GBBob GBBob is offline
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Quote:
Originally Posted by Scav
As soon as I figure out who it is, I am going to run over to the OTB tonight and talk to my friend who runs Arlington OTB, and talk to him about this form. Could be PERFECT for what we are trying to do. MORE TO COME!!
FTFY
__________________
"but there's just no point in trying to predict when the narcissits finally figure out they aren't living in the most important time ever."
hi im god quote
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  #32  
Old 06-12-2008, 12:06 PM
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ateamstupid ateamstupid is offline
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Quote:
Originally Posted by Antitrust32
i'm just looking at airfare... not bad 64 bucks each way.. and i have a place to stay... what the hell I should just buy it..

Is there a DT toga weekend again?
That's what I want to know as well. My low-falutin' job is going to keep me in the city for most of the meet.
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  #33  
Old 06-12-2008, 12:07 PM
Scav Scav is offline
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Quote:
Originally Posted by GBBob
FTFY
Was going to go over there and talk to Chris or Glenn, Glenn is top dog of simucasting I think, and Chris is a step below him, either of them will know about this, I want to ask them how it works
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  #34  
Old 06-12-2008, 12:08 PM
Antitrust32 Antitrust32 is offline
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Quote:
Originally Posted by ateamstupid
That's what I want to know as well. My low-falutin' job is going to keep me in the city for most of the meet.

that's how I would describe my job as well....

I really want to go to toga though and if I go for the weekend you HAVE to come. shoot I'll even pick you up (just meet me by the tapenzee) cause I'll be driving from PA.
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  #35  
Old 06-12-2008, 12:10 PM
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ateamstupid ateamstupid is offline
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Quote:
Originally Posted by Antitrust32
that's how I would describe my job as well....

I really want to go to toga though and if I go for the weekend you HAVE to come. shoot I'll even pick you up (just meet me by the tapenzee) cause I'll be driving from PA.
No doubt. I'm probably gonna go up opening weekend regardless of whether there's another nerd summit.
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  #36  
Old 06-12-2008, 12:12 PM
Antitrust32 Antitrust32 is offline
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Quote:
Originally Posted by ateamstupid
No doubt. I'm probably gonna go up opening weekend regardless of whether there's another nerd summit.

ok.. i may do opening weekend... No falling asleep at Clancy's this year!!
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  #37  
Old 06-12-2008, 12:13 PM
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ateamstupid ateamstupid is offline
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Originally Posted by Antitrust32
ok.. i may do opening weekend... No falling asleep at Clancy's this year!!
I hate you. You have too much dirt on me.
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  #38  
Old 06-12-2008, 12:14 PM
Antitrust32 Antitrust32 is offline
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Originally Posted by ateamstupid
I hate you. You have too much dirt on me.
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  #39  
Old 06-12-2008, 12:16 PM
Scav Scav is offline
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Quote:
Originally Posted by ateamstupid
No doubt. I'm probably gonna go up opening weekend regardless of whether there's another nerd summit.
nerd summit?
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  #40  
Old 06-12-2008, 12:18 PM
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ateamstupid ateamstupid is offline
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Originally Posted by Scav
nerd summit?
I include myself in that description, don't worry.
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