a pick six

[Scav]

Originally Posted by philcski

Scavarino and I discussed this the other day... if we could work out some of the logistics it'd be fun. Perhaps we could put a group together to chase the Spa meets' pools on both coasts- honestly, $10k would be the minimum to be competitive.

We can't be any worse than the Twinspires players' pool, who trumpeted that they had 5 of 6 yesterday four times... (on a $47,000 ticket )

I just sent Byk a PM to talk about it, I want his blessing on this first before we get nuts. I already have 4k spoken for on this. My idea, since you decided to go public with it already, is....

-10k start, from November 1st to October 31st (BC is end)
-3 executors that buy in for 1k a piece, the other 7k is bought up by investors, minimun $250 (max 2 shares)
-tickets are played into pools with AT LEAST 1 million in the pool

There is a way that we can have a conference call each time, so people can actually gain some knowledge from us bozos. The conference call system is like $10 per call, unlimited people, and I think there is a way to mute everyone but the commentators.

I am all for running this shindig, I would just need some advice on how to handle taxes because you can do it a couple difference ways.

I would also have no issue starting this from July 1st to October 31st as kind of a feeler, we get 5k together for 4 months, play 5 tickets, with one of them being on the BC, and see how things work.

July 1st details
-Three people put in $500 each, the other $3500 put together by $250 shares (14 shares) (max 2 per person)

[-BT-]

Originally Posted by Scav

I am all for running this shindig, I would just need some advice on how to handle taxes because you can do it a couple difference ways.

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-

[Scav]

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.

[Scav]

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%

$250 minimum? You're going to end up with over 20 people splitting the pot. Seems like it would be too much of a hassle if a pick 6 was hit.

[Scav]

Originally Posted by Coach Pants

$250 minimum? You're going to end up with over 20 people splitting the pot. Seems like it would be too much of a hassle if a pick 6 was hit.

it is for fun, I agree, but I feel that it should be open to everyone, and not everyone has 1k to piss away on pipe dreams. Instead of these people playing 10 $25 tickets, they are going to be a part of 10 $1k tickets, I think you would agree that you have a better chance hitting on 1k tickets, then you would on $24 tickets

It is capped at 10k

Originally Posted by Coach Pants

$250 minimum? You're going to end up with over 20 people splitting the pot. Seems like it would be too much of a hassle if a pick 6 was hit.

It was a huge hassle.
For Steve.

We got 5/6 and played again.
Very messy.

[Kasept]

Originally Posted by pgardn

It was a huge hassle.
For Steve.

We got 5/6 and played again.
Very messy.

It was a bit of a bollagong, as we say in Yiddish...

I had to drive to Saratoga each day because I didn't have a telephone account at the time and wanted to get track odds at the harness track instead of OTB prices closer by...

[jcs11204]

Originally Posted by Kasept

It was a bit of a bollagong, as we say in Yiddish...

I had to drive to Saratoga each day because I didn't have a telephone account at the time and wanted to get track odds at the harness track instead of OTB prices closer by...

dedication

[PSH]

Im in on the passive side. Like the idea Scavs. Need to get our best 3-4 handicappers on the board to take care of the selections, ticket structure and money management.

Always wanted to be part of a syndicate....

[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.

[philcski]

Originally Posted by DaHoss9698

Scavarino????

He's becoming Italian in his formative years.

Actually, it's a nickname that GPK (I think) gave him that has a nice ring to it.

[Scav]

Originally Posted by philcski

He's becoming Italian in his formative years.

Actually, it's a nickname that GPK (I think) gave him that has a nice ring to it.

I actually do have some italian blood, my dad's mom was off the boat, learned how to cook from her, I am well versed in easy italian cooking, and swedish cooking now (my mom)

[GPK]

Originally Posted by philcski

He's becoming Italian in his formative years.

Actually, it's a nickname that GPK (I think) gave him that has a nice ring to it.

Never have and never will call him Scaverino...I was the one who dubbed him dumbass

[Scav]

For shits and giggles, what the hell are they doing putting a 47k ticket into that thing yesterday, I consider that gross negligence.

Lets say they take down the whole pool on that 47k. THey are still only getting like 70/1 on that action. The chance of taking down the whole pool, was almost impossible yesterday given the first race was only a two horse race