Playing Poker Online – What You Really Need to Know

Online Poker vs. Online Gambling:

Poker is a game of skill, and every decision you make is about maximizing your Expected Value or EV for short. The term „EV“ will be used throughout this article and will be seen in two ways. A player can have +EV, which is positive Expected Value or – EV, which is negative Expected Value. Poker is not gambling and the following explains why. More Info

Most gambling games have a negative EV for you, and a positive EV (5.49% in this case) for the casino. In the short run you could win, but in the long run, if you played typical gambling games 1000 times, the casino would always end up winning by about 5.49%. As you can see these types of gambling games are in favor of the house. Poker pits you against other players and not the house. In a full ring game (9 players) or shorthanded game (6 players), the goal is to make the best EV decisions against the many other players playing worse (making -EV decisions) than you. Read More

A simple example would be if you were dealt KK before the flop came (preflop), which everyone knows is a good hand preflop. This hand has a high chance to win against all other hands preflop. If you played and raised „all in“ with this hand against a player who played and called every all in, you would have a huge advantage as you will be a favorite every time, making it a +EV decision. This is an exaggerated example and playing one hand would not be the smartest idea. What you would do is play say the top 20% of hands because against a person who plays maybe 70% of their hands, you again, will be making a +EV decision every time you play with him. It’s likely that your starting hands will have a lot higher probability to win. This is just scraping the surface, and there is an EV attached to every decision and every situation. Many online poker sites provide starting hand charts for beginners to use, which would be the simplest way to improve your EV.

In addition, there is always variance and in the short term weaker players might get lucky, but that’s also what attracts them to come back and keep playing. In the long run, a good player who always makes +EV decisions will always end up a winner. This is why poker is not gambling but a game of skill and understanding how to exploit your opponent’s mistakes.

Is it safe to play online poker?

Absolutely, some sites have over 50,000 people playing at one time. Major sites like Full Tilt Poker run advertisements on the TV and the web and are even listed on the stock market. They allow you to play poker online for free or real money. Any negative publicity would affect their business so these sites often provide the best customer service. Keeping your password secure is your responsibility and if you do this, your money will be safe. Online poker sites have no incentive to cheat when dealing hands since they want to be extremely fair so you continue to play, which allows them to earn their income in the form of „rake.“ This is a very small percent of the pot (usually less than 1%). In poker, you are playing against the other players, and not the house.

Obviously if the poker site seems shady, you have never heard of it, they don’t advertise on TV or the web and there aren’t members playing on a regular basis – you wouldn’t be depositing your money there!!! With that said, most of the major poker sites are very safe and reputable.

What are the best online poker rooms?
There are three major sites for playing online poker. Full Tilt Poker, Pokerstars and Party Poker have lots of traffic, play money tables, plenty of freeroll tournaments and have very good customer support. If you’re a beginner you should play at Full Tilt Poker or Pokerstars when you start. Other sites like Party Poker call you up after you sign up and require some form of id verification to activate your account. Some people may like this extra security, and can certainly go that route. Full Tilt Poker and Pokerstars do not require this. Overall, all three sites are incredibly safe and well known.

Many sites state „Deposit and get another $600!“ Do they really double your deposit amount after depositing?

That depends on the site. Some sites give you a very small portion (around 10%) of your deposit instantly, but that is rare. What typically happens is you deposit $600, and then after you accumulate a certain amount of player points, they will give you the full $600. This is to ensure depositing players are also active. With online poker sites such as Full Tilt Poker these points are achieved very quickly.

Online sites will publish poker bonus codes which must be entered upon account creation. After that, the amount you earn depends on the time you spend playing and the stakes you play at. When a player reaches 400NL limit, which means 2 to 4 dollar blinds and have a good percent of wins, they can make up to 5K a month. This is of course if you treat playing like a job and dedicate several hours every day to playing. Ultimately job freedom and the lure of easy money that is just a click away, is what draws so many people to online poker.

Tax for Self-Employment

„Holy cow! That can’t be right!  I usually only owe a few hundred, not six grand!“ My buddy stared at the return I had just help him prepare with shock and horror.  He had lost his job in the recession but had been able to pick up work as an independent contractor.  Although he worked exclusively with one company they had preferred to keep him off the official payroll.  He had diligently saved up some money for his tax bill but had used the prior year’s return as a guide, back when he was still a regular employee. self employed

I showed him the Schedule SE, „Bro, this is what’s hitting you hard, self-employment tax, which is basically Medicare and Social Security payments for the self-employed.  Back when you were an employee, your employer was responsible for half and you were responsible for the other half, about 7.65% of your wages each.  It was all deducted from your wages and you probably never really thought about it, except to look at your check stub and bitch about high taxes every now and again.  Now that you’re self-employed, you pay the whole 15.3% when you fill out your tax return.“

He looked miserably at his return, „Man, I knew that I was going to be responsible for my own tax payments and that I wouldn’t get any benefits, but I had no idea the taxes were going to be this high.  I didn’t factor that into the wage back when I first got the job, I was just happy to be working at all.“

I shook my head in sympathy and replied, „you know, about every year I get a client in this exact same situation.  They get hit with a tax bill that is much bigger than what they had expected and they’re not sure why.  I wish you had come to me back when you took the job, we could have done some planning that may have reduced or even eliminated this bill.

What’s Self-Employment Tax?

Self-employment tax is 15.3% of your first $106,800 of earned income and then 2.9% for every buck after that (2010 rates).  In return, your self-employment wages are included in the equation to calculate your benefit from social security; the higher those wages, the higher the benefit you will receive (in general and up to a point).  Not enough detail for you? Then check out the IRS website!

Who Has to Pay It?

The tax for self-employment is levied on net earnings from your business.  If you are reporting your business income on a Schedule C then it will be the bottom line (31 in 2009) of the return.  If you file a Schedule C (Profit or Loss From Business),  a Schedule F (Farming), or a Schedule E with income from a partnership then you will need to file Schedule SE and, if you have more than $433 total income from all the above sources then you will have to pay self-employment tax.  

Who Doesn’t Have to Pay It?

Self-employment tax is on earned income from your labor and so it must follow that investment income is not subject to self-employment tax.  Capital gains, interest, dividends, and most rents and royalties are therefore excluded.  Notably, income from a Subchapter S corporation (S Corp) are also excluded on the grounds that they are investment income and not self-employment income.  Many business entities could easily qualify to be organized as either a partnership or an S Corp and so the opportunity to avoid self-employment tax has been a factor that has made the S Corp very attractive as an entity.

How to Minimize or Avoid It

Thinking back to the type of income that is subject to self-employment.  If you want to reduce or avoid the tax therefore, you need to have a legitimate reason to recognize your income as excluded in nature.  A popular method for doing this is to charge your business rental income for the use of your real property.  Let’s say I own a small office building where I do most of my tax and accounting work.  I have my office building charge my professional practice rent and thereby effectively and legally (when done right) characterize some of my income as free from self-employment tax.

I will tell you right now that this is a big factor overlooked by many self-employed and entrepreneurs, who have a tendency to lump every bit of income into the same basket.  Paying attention and doing some tax planning could save some bucks here.

As noted above, income from an S-Corporation is not subject to self-employment taxes.  That’s the good news.  The bad is that the IRS demands that the owners pay themselves wages (subject to payroll tax, which is essentially the same as self-employment tax) in order to close this loophole somewhat.  Also, there is noise about charging self-employment tax on S Corp earnings, so you run the risk of going through trouble of making your business an S Corp and then having the exemption pulled right out from under you.

What This Means to You

Regular income tax is graduated, meaning that the rate of the tax increases as the amount of the income increases.  Due to this graduation many low income filers owe very little tax, no tax at all, or even get money instead of paying when they file a return!  Self-employment tax, however, is on a straight percent of earnings (up to the $106,800 limit, at least) and therefore if you clear the $433 hurdle then you will pay it.  This can come to a shock to the newly self-employed and to smaller operators who are making enough to keep things afloat but have never really had to pay income tax due to their low incomes.  Also, it would make you cry to see how many first year independent contractors have not budgeted for the tax and get a hefty bill at the end of the year when they are used to a refund.  

Self-Employment tax may be calculated differently from regular tax, but it is collected the exact same way.  This means that you will need to make quarterly estimates on your tax obligation you and, if the estimates aren’t enough or if you don’t pay them, you could be subject to interest and penalties.  Again, if you income fluctuates from year to year or if you have had a major deal or a gigantic sale go through, revisit your planned estimate payments to see if they don’t need to be increased.

A Tax You May Actually WANT to Pay!

I have clients that I strongly discourage from reducing their self-employment tax.  National Enquirer Headline, „An Accountant that Tells His Clients to Pay More Tax!  Before you get all bent out of shape and sic Sarah Palin on me hear me out.  If your income is low and your retirement contributions are also low or nonexistent, Social Security might be what keeps you off the bread line when you retire.  For taxpayers in this situation, contributing to Social Security is a positive benefit and beyond a shadow of a doubt better than nothing at all.  So hesitate before you cut that payment too low.

Französische Roulette Informationen

Für diejenigen unter Ihnen, die mit American Roulette vertraut sind, wird dieses Spiel sehr einfach zu verstehen sein. Der einzige wirkliche Unterschied zur amerikanischen Variante ist, dass es hier nur 37 statt 38 Töpfe gibt. Der einzige Unterschied ist das Fehlen eines 00-Topfes, was bedeutet, dass das Haus in dieser Version einen kleineren Rand hat (2,7% statt 5,6%).

Über Französisches Roulette Software

Voulez-vous gagner en jouant un vrai jeu français? Französisches Roulette, ist eine Software wie jede andere oder europäischer Jackpot, wie es in bestimmten Kreisen genannt wird, ist eine leichte Verdrehung der bekannteren nordamerikanischen Version des klassischen Spiels, das so zeitlos ist wie die Institution des Glücksspiels selbst. Ziehen Sie sich an den Tisch, bestellen Sie einen Cocktail und verbringen Sie Stunden damit, Geld zu verdienen, während Sie dem Ball zusehen, wie er faszinierende Kreise um den Tisch zieht!

Anleitung Französisches Roulette

Obgleich ein Roulettebrett recht erschreckend zuerst schauen kann, ist es wirklich sehr einfach zu folgen, da die Abschnitte auf der Tabelle selbsterklärend sind. Der Mindesteinsatz beträgt 1 Pfund, während das Maximum 100 Pfund beträgt. Sie können jede beliebige Kombination von Wetten abschließen. Denken Sie daran, dass je geringer die Wahrscheinlichkeit ist, dass etwas passiert, desto höher ist der Gewinn, wenn Sie die richtige Entscheidung treffen. Hier sind Ihre Wettmöglichkeiten:

Software details

– Wette auf eine Farbe: geringfügig weniger als 50% Möglichkeit, Ihren Einsatz zu verdoppeln.
– Wette auf Gleichstand oder Quote: Etwas kleiner als 50-50 Möglichkeit, den Betrag zu verdoppeln.

– Wetten Sie entweder auf die untere Hälfte (1-18) oder auf die höhere Hälfte (19-36): Das ergibt ebenfalls eine fast 1 zu 2 Chance, Ihren Einsatz zu verdoppeln.
– Setzen Sie auf das erste, zweite oder dritte Dutzend: Damit haben Sie eine Chance von weniger als 33%, Ihren ursprünglichen Einsatz zu verdreifachen.
– Wetten Sie auf eine „Spalte“: Hier haben Sie eine Wahrscheinlichkeit von weniger als einem Drittel, dass Sie dreimal Ihren Einsatz gewinnen.
– Wetten Sie auf eine Dreierreihe (Straße), eine Ecke (Quadrat) oder einen Split: Indem Sie eine Wette auf eine Grenze zwischen Zahlen platzieren, setzen Sie auf mehrere Zahlenkombinationen und die entsprechenden Quoten.
– Wetten Sie direkt auf eine bestimmte Zahl: Das gibt Ihnen eine Chance von 2-3%, Ihren ursprünglichen Einsatz 35 Mal zurückzugewinnen.