Make Money from Gambling Without Gambling - 18 More Ways
31. Be a 3 card monte dealer. This is cheating people but on a small-time, street-level way. All you need is three bent up cards, a dirty towel and a group of people. I once watched one dealer work the crowd waiting for a bus at the Grand Avenue Metro Link station in St Louis. He didn't make much. The young people didn't even understand the game, and the older ones knew they couldn't win it. Be prepared to scoop up your money and run fast when somebody gets shooting/knifing mad at losing or you see a police car cruising your way. 32. Be a writer who uses casinos and gambling in your novels and films. Mario Puzo is one. Gambling movies have also made money for their producers, directors, actors, camera men etc. The movie THE HUSTLER is one great classic film about pool hustling. 33. Be a door to door or street vendor who sells lottery tickets. This option is not available to US residents, but people in other countries do it. 34. If you live in a country with an untaxed lottery (such as Canada, Australia etc), mail solicitations to US residents offering to buy lottery tickets in your country for them. This is now illegal in the US but someone in another country may still be doing it. I used to get such solicitations all the time. The big come on is that if you win the jackpot, these governments (being nicer than the US government) don't collect taxes. Another attraction to this offer is that such winnings are paid out in one lump sum. In the eighties this was not done by US state lotteries, though it is commonly available now. The big catch to doing this is that the US government is one of only two countries in the world that demands taxes from its citizens on ALL income no matter where they receive it. Therefore, although the prize-awarding government doesn't take out taxes, when the winner is a US citizen, the IRS still wants a piece of the action. You do have the option of living overseas to stay out of their clutches, if you don't mind not seeing your family and friends again. While I'm sure this is sufficient for US citizens to get away from paying taxes on relatively small foreign incomes, a lottery winner has a high profile. The IRS might come after you anyway. There is another catch to this. In every lotto drawing there are 0 to few jackpot winners but there are thousands of players who win smaller amounts, from free tickets to $150,000 (Big Game prize for getting 5 numbers but not the Big Game number). You're much more likely to win a small prize than the jackpot. What happens then? Will you drive from Tennessee to Canada to collect one free ticket worth 1? Will you fly to Melbourne for 10? I don't think so! The people who buy the tickets for you probably clean up simply on these small prizes. I know that one company that wrote me told me they'd send me all small money I earned, but how would I know if they didn't? In those pre-Internet days I had no way of checking on winning foreign lotto numbers. And if they decided not to send it to me, how could I force them to pay me? I couldn't. 36. Be a government that licenses only casinos you own. This option is also not available to governments within the US. It is the system in The Philippines (Casino Filipino is government owned and operated) and maybe other countries. 37. Sell your losing lottery tickets to a lotto winner. A co-worker once told me she knew a lotto jackpot winner who was taking his jackpot in the form of annual payments spread out over twenty years. This guy hung around 7-Elevens and other stores that sold lottery tickets. When people threw their losing lottery tickets on the ground, he picked them up. Why would he do this? In the US, gambling winnings are taxable, but only *net* winnings. That is, if you bet $1 once and win $10 you owe taxes on the $9 net. If you also bet a second time and lose $1, your net winnings are only $8 and so you pay taxes only on the $8. If you are a lotto winner who receives, for example, $100,000 a year, but you do no gambling that year, you must pay taxes on that entire $100,000. However, if you can prove that you lost $10,000 that year -- by buying losing lotto tickets you can display as "proof" of the $10,000 you lost, you pay taxes only on the $90,000 net. When he filed his taxes every year, he then submitted all these begrimed tickets as proof of money he had lost while gambling. These "losses" reduced the amount of his annual lotto payment that he had to pay taxes on. This too is illegal fraud. It is also stupid. When I win my lotto jackpot, I'll find better things to do with my time than pick up dirty pieces of paper worth about 30 cents each in tax reduction. 38. Sell gambling books on eBay. Sell ones you have decided are not worth keeping. Or buy cheap second hand ones in used bookstores, Goodwills or yard sales. Good poker books, especially by David Sklansky and Mason Malmuth, sell best, I found. Good blackjack books are in second place. Good general gambling books are third. I could not sell any of my books on baccarat or slots. 39. Teach gambling seminars and classes. 40. Operate a controlled access gambling forum on your website. 41. Work for the Griffin Security Agency. They keep tabs on known cheaters and blackjack card counters -- without distinguishing between dishonesty and using your brain. They make a lot of money from casinos around the world. 42. Join a lottery network marketing company. I heard of one starting for the German lottery, backed by a reputable company in that country. Build a big enough downline and you'll make a large income without ever winning a jackpot. And who knows? You might also win a jackpot. I'd fly to Bonn to claim a few million euros. 43. Be the president of a country that allows only government owned casinos to operate. The casinos allow only foreigners and affluent locals to gamble inside. Since 95% of the local population are poor not affluent, they are not allowed inside their own casinos. Since 95% of them like to gamble, they play cards among themselves or go to illegal gambling halls. As president, take bribes from the syndicates that operate these illegal gambling dens. However, don't let your bag man spill the beans. If your bag man does talk to the newspapers, have the support of your country's military. Because he did NOT have support from his generals, Former President Joseph Estrada of The Philippines is in jail on corruption charges. 44. Get paid to collect signatures on petitions to place gambling-related laws on election ballots. 45. Sell your losing race track tickets to winners at the track, so that when they file their taxes they'll have proof of higher than usual losses. This is a variation of 37. 46. Help gamblers with their taxes. 47. If you're an online casino, sell the right to opportunity seekers to use your servers and software infrastructure. For a monthly fee, the sucker . . . er, businessperson essentially gets a unique gateway into your site. They advertise for business, and keep a portion of the gambling profits. Since they're paying you a high monthly fee and for the banner ads that bring the gamblers to your site, you're almost guaranteed a high net profit. 48. Be a state running your own lottery. But don't expect much if you're a mere tax-paying citizen of a state with a lottery. When I moved to Missouri from Illinois in 1979, I was outraged to discover the state government of Missouri expected me to pay a "personal property" tax for the right to own my own car. When I complained, the woman behind the desk told me, "In Illinois you've got a state lottery to raise money. We don't have that here in Missouri." A few years later, Missouri voters approved the formation of a state lottery. And guess what? We still have to pay the state a personal property tax for the privilege of owning our own vehicles.
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