Our guest this week is tax expert Russell Fox.  We talk about the terrible new taxes on gamblers in the big beautiful bill.  What's a gambler to do?  Is Richard going to retire.... again?

[00:00]  Introduction of gambling tax expert Russell Fox 
[00:48]  How does the tax bill affect gamblers?
[02:25]  Session method logging
[03:56]  Sports betting logs and session definition
[09:14]  Advantage slot play and session definition
[13:08]  Will this law be overturned?
[17:08]  1099 changes, W2G backup withholding
[20:16]  CTRs
[20:51]  90% maximum deduction of losses and business expenses
[23:06]  Long term impact on high limit rooms, DraftKings, FanDuel, and offshore books
[28:02]  U.S. citizens, permanent residents, non-resident aliens, withholding
[30:46]  Worldwide income, renouncing U.S. citizenship, and exit tax
[34:17]  Favorable comfortable structures, tax advantages of C-corp
[34:55]  IRS job cuts and audit probability
[38:29]  Recreational gamblers and W2Gs
[40:33]  Will this tax law increase tax fraud?
[41:18]  Contacting Russell Fox

Links:
Claytontax.com
Taxabletalk.com

Bob and Richard are back to talk with Michael Kaplan about his new book, "Advantage Players."

Show Notes


[00:00]  Introduction of Michael Kaplan, author of Advantage Players
[00:43]  Michael’s background in gambling and writing
[04:18]  Finding people to write about
[06:46]  Definition of “advantage player”
[07:21]  David Philips, the pudding guy
[09:57]  Cheating, breaking the law, and advantage play
[12:23]  Identifying interesting APs and stories
[14:02]  Bill Benter and Alan Woods
[20:59]  Phil Ivey and the benefits of humble beginnings
[25:09]  Getting backed off, betting big, staying disciplined 
[28:57]  Don Johnson’s Atlantic City play
[33:45]  Playing with James Grosjean
[36:20]  Interviewing AP royaly
[36:09]  Advantage play in adult films
[40:40]  AP skills, qualities, mindset
[43:20]  Eddie Teams

[46:40]  How to order Michael’s book, Advantage Players
 
Links:
https://www.advantageplayersbook.com/


Get book - https://amzn.to/4dTqk9r

My guest on this episode is Nigel Eccles, co-founder of Fan Duel.

[00:00]  Introduction of Nigel Eccles, co-founder of FanDuel
[00:48]  Nigel’s background and first company 
[02:04]  Nigel’s educational background and interest in gambling, selling variance
[06:59]  Joining Flutter and prediction markets, exchange models
[10:04]  Founding FanDuel, fantasy sports, sports betting
[14:31]  Sports betting in Nevada, over-regulation and limited innovation
[18:47]  Leaving FanDuel
[20:08]  Vertical businesses, pandemic spike and whipsaw
[20:59]  Bettor are getting dumber, banning winners, and the popularity of parlays
[24:20]  Sharps, betting patterns, cat and mouse games, and taking sharp action
[27:24]  BetHog online crypto casino, innovation, and payment processing fees
[31:42]  Managing crypto volatility
[33:17]  The future of online gaming and crypto 
[36:10]  Final thoughts

X.com/nigeleccles
Bethog.com
Betdex.com
FanDuel.com

Bob and I are back with an interview with Buddy Frank to talk about how casinos are now using AI to evaluate players.

[00:00] Introduction of Buddy Frank
[01:10] The evolutions of AI in casinos, falling costs, data analysis
[03:52] Using data to assess how player ADT changes with hotel stay 
[08:58] Analyzing player performance
[11:55] ChatGPT, large language models being used to finetune offers 
[15:51] Video poker products that calculate player specific player ADT
[21:38] Cameras in machines, facial recognition, privacy concerns
[23:43] MGM banning slot hustlers, persistence machines, must-hit-by 
[32:46] Some operators are 86'ing slot players 
[37:07] Misjudging players, challenges assessing table games players
[42:48] Reno rewards program story, loopholes 
[44:29] Churn, tailoring offers mid-session [47:24] Sports betting data analysis 
[48:25] Adoption of AI over the next five years
[53:53] Recommended: Blood Game by Jeffe Boats

Bob and I sit down at the end of 2024, and talk about what we have been doing gambling wise for the last year.  Both of us seem to be working harder than ever.

[00:00]  Introduction
[00:42]  Is Richard still retired?
[05:19]  The U.S. sports betting market
[07:52]  Betting partnership dynamics
[10:39]  Successful bettors making fundamental gambling mistakes
[12:33]  Bob’s sports betting
[17:58]  Bob’s slot experience
[26:58]  Slot hustling, getting information, solving games
[34:52]  How many hours a day is Bob working?
[38:08]  Beatable slots, obsolete information, and new skins
[39:12]  Recommended:  Erle Stanley Gardner’s Spill The Jackpot,
                                         David Baldacci books,
                                         Daniel Silva books

My guest this week is Elihu Feustel.  He is on this week to talk about his new book, Beyond The Odds, which you can pick up here https://amzn.to/3Behcxf

Bob and I are back after a long hiatus to talk about this years blackjack ball. We are joined by John Chang, former head of the MIT team, Max Rubin, the host and creator of the blackjack ball, and Rick "Night Train" Blaine who was this year's inductee into the blackjack hall of fame.

Bob and I are back to talk to Dennis Rappaport. Dennis was a boxing manager, and promotor probably best known for managing Gerry Cooney. He also was a brilliant PR man, and has some crazy stories from his years in "The Sweet Science."

Lauri Thompson came to Las Vegas as a dancer in 1980. She went from Las Vegas strip entertainer to a top entertainment attorney, with a stop along the way as Susie Spirit on the original GLOW - Gorgeous Ladies of Wrestling.

You can reach me at [email protected], or find me on Twitter @RWM21. If you like the show please tell a friend you think might like it, or if you are really ambitious leave a review wherever you listen.

Here is the clip of Lauri getting her arm dislocated in an episode of GLOW.
https://www.youtube.com/watch?v=YDxYpEKotyU

Billy Baxter is a legend in the gambling world. Today we focus on his time as a boxing manager, and some very high stakes golf games.

You can reach me at [email protected], or find me on Twitter @RWM21. If you like the show please tell a friend you think might like it, or if you are really ambitious leave a review wherever you listen.