Correct. And every CTR and SAR are forwarded to FinCEN. But the IRS can access any CTR at FinCEN. So the data are not specifically sent to IRS but they have all the access they desire to them.

Of course this is different from skit hand pays, etc (including some Poker bonus pay outs). Those definitely are forwarded to the IRS.

I always find it funny when I see people I play with structuring their cash-outs to avoid transactions over $10,000, as if that somehow means the money is tax free, but if you fill out paperwork now you're hosed. In reality, if you're evading taxes, structuring your transactions is probably only going to make things worse for you if you ever get investigated. Of course, I say this as probably one of the only rec players in my room who actually pays taxes on my winnings.

I mean the thing is most of these players are losing players with normal job and they just don't want to deal with nonsense paperwork.

And yes technically you're supposed to net all winning sessions and subtract all losing sessions (can't go below zero) if you're not a pro but 99.9 percent of people losing gambling so it's a total waste of time and resources to go after losing gamblers for not doing this (mostly out of ignorance)

Yeah that's true. Anyway, sorry for the derail.

I guess my points are something along the lines of a) lol live poker and b) lol sample size.

Given the low stop loss (relative to the stakes), this could have swung either way and the result would have been just as meaningful if Airball had won.

Well I guess they're Pals now. I just can't help but think that if Airball sun-ran for 100 hours this wouldn't be the tweet, just can't shake that feeling...

Lost, was all in good fun bro, just having fun calling you a b-tch scammer, who sucks dick for money, and swaps with drug dealers, etc. We good?

So Airturd is just outright admitting he isn't even genuine and acts like an idiot on purpose because he sees poker as professional wrestling? And this is supposed to make people like him?

Quit trying to be Hellmuth and Matusow. We don't need more of them. They fill that void and they do it naturally as it seems to be who they are more than playing a character.

Airballs Tweet for those wondering

I think it's the humble and correct way to deal with the situation. Anything else will just dig the Hole deeper.
Also the comments about preferring Ring games might be his way to dodge the HU with GA

Berkeys Reply to Airballs Tweet

But it worked. An otherwise totally un-notable player is the subject of constant conversation in the community.

We’re poker players, we will give any whale the attention they do desperately crave….for a price.

He lost just north of a mil, right?

^ what a wholesome exchange! i like.

now let's see how airball acts henceforth. hopefully it isn't just all talk!

What was he talking about? Hard to make anything out between all the "whatevers" and marble-mouth and repeating.

I’m sadly pretty plugged in to all this and don’t know either

I do love that the J4 made him “retire” from “investment banking”. Said because he was connected “mean people” bothered him at work so he either had to quit poker or commit 100% to poker.

Just a few years of entry level investment banking yielded him millions and millions to throw around. Maybe I’ll apply

We’ve covered this ground previously. It is exceptionally unlikely an early 20s associate in investment banking made the type of money he throws around at poker tables. Upper end of annual comp at that level is maybe $300k. Even that is a stretch.

The amount of opportunities for a low level investment banker to hit huge scores over the last few years is too many to discount. He could have just bought a lot of Tesla and made a grip. If he rode leaps on any number of things he could easily turn very little money into a **** ton of money.

Just stringing together a couple lucky hits and people have turned 10-20k into many millions

I think Airball is talking about allegations he made about Gman on Polk's and Nitucci's podcasts. He said Gman was bad for the game because he blackballs players, puts his headphones in as soon as the stream finishes and forces players to straddle, even if they can't afford it. Gman refuted the allegations on Polk's podcast. Airball is now saying that Nitucci and Feldman agree with him about this and also the fact that he's allowed on stream and Gman is not proves he was telling the truth.

has nik responded yet to garret wanting to play HU yet? i dont follow there social medias to see the back and fourth

Investment bankers are not traders...

Also - regarding Nik, anyone with a modicum of knowledge of IB (or just do like 5-10 min of research) will know he's absolutely full of **** if his claim is that his money came from IB. Unless he's a managing director (which is impossible given his age and experience), he's not going to have nearly the amount of money to throw around like he does at HCL and other games. IB is a job that pays very well but you're not making millions until you work like 10-15+ years and even then, it's usually at a top firm you're making that kind of cheddar. Is there any indication Nik has worked at a top IB in wall street?

Anyway, don't take a random 2p2 posters word for it, just look at reputable sites like wallstreetoasis that have documented a lot of standard compensation ranges for top bulge bracket investment banks for the various roles and if you do a little mental math, you'll quickly realize Nik did NOT make most of his money from IB and is likely a trust fund kiddie.

Exactly. Don't think there are many observers left who are still buying the investment banker story. Certainly doesn't seem the players he plays with who know him better then just from TV believe it either,

Probably went to school and graduated from college in finance. May have even worked as in investment banker for a while. I'm sure there are many players willing to bet plenty of money that Airball can't produce any proof he has made even 500k in that arena let alone millions. I'd bet much more likely it's from other means. Family? Trust fund? Poker ? something else maybe, not buying the legit investment banking angle.

Probably not from poker. But he seems like a good player to me. Well above average. Not world class and proven or anything. Doesn't mean he sucks or is a fish. Easy to hate and not nearly as good as he thinks he is, for sure! Not in Berkey's class for sure. Berkey may not be fun to watch, may be cringy at times, but he's been playing in high stakes games for a while and makes his money from poker. That is world class for sure. Not flashy but solid.

The 2 posts above are idiotic. He isn't claiming that he made his money in investment banking. He said he made it by playing in HS private games.

No, he said he binked something non poker related (would be weird to describe an inheritance that way).

Although, I could see someone saying it that way if it was an inheritance to sound like they accomplished it rather than were given it.

I read this as "...reputable sites like wallstreetbets.." and thought it was a top tier **** post