done with players pools..

[jrajf]

for fun I got involved in the ts players pools a few times this year.
Partial hits only but yesterday I received 24 w2-gs in the mail for under 15.00 most under 5. My cpa is going to think im nuts!

[Stickhorse]

The interesting thing about these pools is you get to see how the tickets are constructed; fiscal benefits are minimal unless you want to be a big investor then realistically you can't expect a lot. I have only played along twice.

How about some of you others?

[pweizer]

Originally Posted by Stickhorse

The interesting thing about these pools is you get to see how the tickets are constructed; fiscal benefits are minimal unless you want to be a big investor then realistically you can't expect a lot. I have only played along twice.

How about some of you others?

If you want to understand good ticket structure, the Twin Spires Players pool is about the worst place to look.

These are also very bad bets with a very low ROI over time (if they were to ever share such info).

Paul

[Stickhorse]

You are correct. "Interesting" wasn't meant as a genuine compliment. I was kind of surprised that the tickets seemed rather caveman and included a HUGE amount of combinations.

In theory, my guess is, you could hit it big and possibly multiply your investment by ten.

[blackthroatedwind]

Originally Posted by jrajf

for fun I got involved in the ts players pools a few times this year.
Partial hits only but yesterday I received 24 w2-gs in the mail for under 15.00 most under 5. My cpa is going to think im nuts!

Don't worry about it, just add up the total, and zero it out assuming you didn't make money this year...and if you made some money declare the total as winnings. You don't report each one individually.

[Scav]

Originally Posted by blackthroatedwind

Don't worry about it, just add up the total, and zero it out assuming you didn't make money this year...and if you made some money declare the total as winnings. You don't report each one individually.

I'll assume you're 100% sure about this, but if someone were to do their taxes via something like Turbo Tax, they would pretty much have to enter each one.

Me personally, I would enter each one because when the IRS sees what is reported to them (W2's, 1099's, W2G, etc), I would want it to all line up and correlate to minimize the risk of them looking into it further.

[OldDog]

Originally Posted by Scav

Me personally, I would enter each one because when the IRS sees what is reported to them (W2's, 1099's, W2G, etc), I would want it to all line up and correlate to minimize the risk of them looking into it further.

Not to worry. They'll all be busy deciding what to do with their bonuses.

[Mike A]

Same here, got 9 in the mail today. I'm done with that also, my accountant (my wife) will probably get a little excited/worked up at first.

I got involved one time, as far as I remember the ticket(s) ending up losing money. I think the pool was capped at $50k and the return was in the $30k

[santana]

I aslo got back 9 of those things yesterday......it was all from april 5th...Have no idea what they were shooting at....That was the last time i play those tickets.....