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Online Poker Bankroll?

What is the best strategy for building a bankroll online? Starting with $50-$100. Also, If you cash out a large amount, what do you do on your tax returns?

Posted 786 day ago

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Davido 		The best strategy for building a bankroll from 50-100 dollars is to use this guide. http://www.ultimatepokerbankroll.com/article.php/online-poker-bankroll-building-guide-100 Using the bonuses listed there in order you can build 50 or 100 dollars into 500 very quickly.

Also read this article on preserving your bankroll. It'll really help you maintain a bankroll as you are building it, when to take risks and when not to, etc. http://www.ultimatepokerbankroll.com/article.php/preserving-your-poker-bankroll

With those two in mind even a break even player can make a nice bankroll.

You have to pay taxes on your winnings. Not what you cash out, but what you win. (With losses counted as a deduction.)

Posted 786 day ago

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fullhouse 		why would u have to pay taxes on income earned outside the usa?

Posted 786 day ago

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Davido 		If you start with $50, you do NOT have the right bankroll to play $0.50/$1 cash games. That's a little crazy, and you'll go broke due to variance even if you play well. I play nothing but tournaments, and the conventional wisdom is that you should never risk more than 5% of your bankroll on any tournament. That means with $50, you could only afford to play the smallest tournaments, with $1 buy in. You'd need $110 to play confortably at the $5+0.50 sit-n-gos.

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cameron 		I perfer to stat with $500-$1000 and then doubling it and taking out the winnings. If you run into a string of bad cards you can run through $100 in one day. EASY.

Why would you pay taxes on the money you make???
First off, the government has no idea you make that money or own it. They can not prove it. Why do you think Congress is attempting to pass a bill to stop internet gambling? Because they can not tax it.

Second, if you are the "noble" type that HAS TO pay every cent correctly on your taxes, you still do not have to pay on online poker winnings. EVERY poker site online is based outside of the United States. This mean you are making income in another country. It is not US income. None of it has to do with your United States income.

Posted 786 day ago

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montie 		Play small stakes until you build your bankroll. At $50, you really only have the funds to play a $0.50/$1 game comfortably. At $100 you could probably play a $1/$2 game.

If you do cash out a large amount you should report your net winnings on your income tax return. You should consult a tax professional for official advice on how to do it.

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Davido 		Below is a link to download a free poker eBook.

http://www.legendsofamerica.com/poker.html

The book shows you step-by-step instructions on how to get $100 in free online poker money at either Party Poker or Absolute Poker. (No deposit, No Credit Card required) It then details two other poker rooms which will maximize your bonus opportunities and gives a comprehensive overview of the online poker world. Hope this helps.

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celt71 		Go to one of these sites and sign up for all the bonuses try dream poker,and crazy poker and pittbull poker and get $10 just to sign up no deposit required Thats at least a 30% increase of your bankroll before you even get started good luck


http://www.pokerbonusreview.com
http://www.amarilloslim.org

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