Jezza Posted January 16, 2005 Share Posted January 16, 2005 I get a little mention in todays sunday express magazine piece about the ladbrokes cruise ;) errrrr Fame...yeah :o Jez Quote Link to comment Share on other sites More sharing options...
dave Posted January 16, 2005 Share Posted January 16, 2005 Re: Sunday Express What does it say? Quote Link to comment Share on other sites More sharing options...
Jezza Posted January 16, 2005 Author Share Posted January 16, 2005 Re: Sunday Express not much i get about 2 paragraphs just talking about me being an online pro really Quote Link to comment Share on other sites More sharing options...
Big Andy Posted January 16, 2005 Share Posted January 16, 2005 Re: Sunday Express just read it jezza, nice one :clap Quote Link to comment Share on other sites More sharing options...
tipstar Posted January 16, 2005 Share Posted January 16, 2005 Re: Sunday Express Tax man will be on to you now :lol Quote Link to comment Share on other sites More sharing options...
Jezza Posted January 16, 2005 Author Share Posted January 16, 2005 Re: Sunday Express :lol tipstar luckily gambling winnings are not taxed in this country I still pay NI voluntarily and bloody council tax tho Jez Quote Link to comment Share on other sites More sharing options...
tipstar Posted January 16, 2005 Share Posted January 16, 2005 Re: Sunday Express Was talking to a tax man Saturday and earnings from gambling are taxable and should be declared if it is your main source of income :( Youre same as me just pay my poll tax Quote Link to comment Share on other sites More sharing options...
DeepBlueDevilFish Posted January 16, 2005 Share Posted January 16, 2005 Re: Sunday Express I don't believe that's true Tipstar. This has been debated endlessly on many forums and the conclusion that the argument comes to is that the tax man doesn't tax gambling winnings in the UK. One of the main reasons being that any lossses you have could be offset against the winnings and as the tax man believes most people lose they don't want to open that can of worms. I have also never come across anyone that has admitted to being taxed during the course of these discussions. If they had I would have expected someone to mention it as it would be a very big deal indeed and they would have nothing to lose by doing so. Of course, Sods law says, that someone will be along in a minute to say they have been taxed .... Quote Link to comment Share on other sites More sharing options...
tipstar Posted January 16, 2005 Share Posted January 16, 2005 Re: Sunday Express I asked him out of a matter of interest (because people have asked me if I pay tax and I wanted to know where I stood) He said theoreticaly you should be classed as self employed therefore as you said you can then offset your losses in any one tax year also car use/internet connection/and any other thing you need to pursue gambling as a full time income. Basicly he said they would not bother you unless you are making fairly substancial profits year in year out(talking about 30k upward after all expenses)then they could get involved and ask for statements from your banks etc.(for proof of income bets won /lost) The area where they would come down heavy on you would be if you are claiming any sorts of benefits dole/social/sick etc and making a living from gambling and you would be made to pay back any benifits they deemed you did not need due to what they would class as being a self employed gambler (not so much by the tax but Works and pensions dept ) So that is how he sort of descibed it to me. In reality tho I have the same thinking as you. It would be a minefield to try and enforce it so I do think they turn a blind eye unless you start taking the piss, and banking a hundred grand a year :loon Like Jez I just pay my poll/council tax and no one has bothered me yet (touch wood :hope ) but if they do Ill put it up on the board Quote Link to comment Share on other sites More sharing options...
Winrew Posted January 16, 2005 Share Posted January 16, 2005 Re: Sunday Express Congrats Jezza,fame at last for a Pl member ( Celebrity Big Brother in two year ) ........Stuck at work on afternoons bored,pick up sunday mag and see the article on poker......MMMM sounds interesting........nearly choked on my cheese sarnie when i saw your name mentioned... :D Quote Link to comment Share on other sites More sharing options...
DeepBlueDevilFish Posted January 16, 2005 Share Posted January 16, 2005 Re: Sunday Express Thanks for the reply Tipstar. I think a fair few people make a lot more than £30K a year on gambling and they've never been bothered by the tax man. One good lottery win will blow that figure and the tax man doesn't come after tax for that. Like we've both said the key is the offsetting of losses etc. If gambling winnings were taxed then everyone who lost could suddenly offset those losses against *any* other income they might have to reduce their tax burden. This would result in a huge loss to the revenue. Sorry to have hijacked your moment of glory thread with this Jezza ! Quote Link to comment Share on other sites More sharing options...
Jezza Posted January 16, 2005 Author Share Posted January 16, 2005 Re: Sunday Express NP man...that is a worthy debate that pops up a lot but you are totally right Jez Quote Link to comment Share on other sites More sharing options...
chala Posted January 16, 2005 Share Posted January 16, 2005 Re: Sunday Express your all right guys, studied a module of tax law at uni, and gambling profits or losses are exempt from income tax in the UK for reasons stated above (most people make losses, therefore the tax man would lose more than he'd gain). Didn't know you were a pro Jezza, if you don't mind me asking how many hrs a week do you play and what is your average profit? presumably you mainly play cash tables? If so, what level blinds do you play at? I haven't been playing that long, but have started keeping a record of my performance, and over the last 6 weeks I've played 13hrs of poker and made $173 profit. I think I've probably been quite lucky as most of the profit came in 2 sessions, but still it's a nice start. Quote Link to comment Share on other sites More sharing options...
Jezza Posted January 17, 2005 Author Share Posted January 17, 2005 Re: Sunday Express Hi chala, Yep I play for a living - for the last 2 years (I had been playing on and off for a year before that as well). Before poker I played fruit machines for a living so the life of a pro gambler is not new to me. Anyway I will try to answer your questions. Bankroll is sacred to everything, especially for me. I am in kind of a harsh situation in that the bank will not even let me have a 100 pound overdraft (not because I have ever been in debt but purely because I have no regular income at all, I dont even claim the dole). So if I was to go totally bust, I would REALLY go bust. I would recommend having at least 20 times the maximum buy in for the tables you are going to play (as money you are free to gamble) to feel at all comfortable, but even that can vanish with a negative run. As my bankroll increases so do the limits I play at. I won a multi on stars which paid 5k a few years ago, which is when I started on poker full time. Started on the 25/50cent NL tables at ladbrokes a few years ago full time 8hrs a day for a few months keeping solid notes and records of everything. I did pretty well and started to move up the limits slowly. Eventually settling down at around the 1-2 to 3-6 level (buy ins of between 200 and 400 dollars - nice money but still enough spazmatrons around to pay you off). As you move higher and higher the amount of good players increases % wise to the amount of, well, fannys. Although of course you still do get some idiots at the highest levels (have witnessed a guy going all in pre flop every hand on the 10k heads up tourney on laddies) and some great players at the smaller levels. I went through a gigantically superb run on 5/10 nl and moved up to 10/20 nl (2000 dollar buy in). However on the 1/2 tables on betfair (no joke) I managed to go on such a huge negative swing through bad beats and cold decks I ended up 4000 UKP down in a month before living expenses so I had to cash in the roll I was using to play 10/20 NL on another site and build back up from there. Now I have sorted that out I kind of chill at around the 2/4 NL cash table level for about 6hrs a day (playing two tables at once). Jez Quote Link to comment Share on other sites More sharing options...
waynemcke Posted January 17, 2005 Share Posted January 17, 2005 Re: Sunday Express Is this article online Jezza? Can't find it anywhere? You're becoming a bit of a celebrity nowadays aren't ya! Couldn't see the same thing happening if you were still emptying fruit machines for a living! :lol Well done mate. Quote Link to comment Share on other sites More sharing options...
Jezza Posted January 17, 2005 Author Share Posted January 17, 2005 Re: Sunday Express I have it on a word doc here on my computer m8 I will MSN it to ya :lol @ the puggies comment - alien did them as well - I think the nearest we ever came to being celebraties was when the guy in my local knew who I was when I walked in the door so 9/10 he would turn the nice juicy JPM Impulse off in the corner citing "people want to play darts" or some other pish as his reason Jez Quote Link to comment Share on other sites More sharing options...
waynemcke Posted January 17, 2005 Share Posted January 17, 2005 Re: Sunday Express 9/10 he would turn the nice juicy JPM Impulse off in the corner Bloody spoilsport! You would think he was trying to make a living or something! ;) Quote Link to comment Share on other sites More sharing options...
2damnhype Posted January 17, 2005 Share Posted January 17, 2005 Re: Sunday Express Makes for interesting reading Jezza. Just starting to mess about with the free play tables, but don't feel ready to part with my hard earned just yet!!! Quote Link to comment Share on other sites More sharing options...
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