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Bovada is an online betting website. The company was founded in December 2011 and using Bovada bonus codes is a great way to jumpstart your cash flow. At Bovada players can place bets many different games. Placing bets can be on sports or races. Players can play competitive poker or playing some games in the Casino. The Bovada put in big events of sports and races on a calendar. Noticed this yesterday but, did something happen to Bovada's live dealers? Looks like they've taken all the tables down from the site.
16:4119 Oct
A detailed report has appeared online which alleges serious security breaches at Bovada Poker, and claims that millions may have been siphoned from the site by some form of ‘super-user’ accounts coupled with the use of bots. This raises the question: is Bovada poker rigged?
The fantastical claims have been made by an anonymous team whose members “span industries including gaming, advertising, data mining, open source software development, security, and database solutions,” according to the report from dataminepoker.
They claim that:
“Based on all of the separate tests completed by our contracting team, it is evident that there are massive issues at Bovada Poker. There are issues with the number of multi large hands, collusion teams, and bots.”
Factors which they also allege they were able to exploit themselves on Bovada in trials afterwards, stating:
All of these situations were proven through data collection, analysis, and then using the techniques ourselves to increase our ability to win over average players.”
Online poker has always had more than its fair share of ‘paranoia’ among its players, usually based on the ‘luck’ factor which can see players run bad, suffer multiple bad beats, lose to ‘ridiculous’ plays by their opponents and then use the online community forums as a ‘sounding-off board’ for their tale of ‘rigged’ online poker-rooms.
Indeed, the DataMinePoker team describe such ‘paranoia’ as one of their starting points, saying:
As part of the initial research for this project, multiple online forums and gambling related social networks were combed for stories based on the potential unfairness of the Bovada Poker room. Based on the data collection of public posts within the past year, 1,461 separate stories of single or multi hand suspicious activity at Bovada Poker were found, collected, and verified.”
However, such ‘paranoia’ is not always mis-placed. The Ultimate Bet scandal of 2007 became the biggest in poker’s history when it was discovered that a ‘super-user’ account was being used, enabling the user to play in ‘God-mode’ with the ability to view other players hole cards, and winning millions of dollars from unsuspecting victims.
More recently, PokerStars investigated an alleged ‘bot ring’ emanating from Eastern Europe which was apparently exploiting their low-to-mid stakes PLO games, with many players being recompensed by the industry leader following their probe.
Whether or not these most recent allegations involving Bovada have any truth to them, the scale of the report – which DataMinePoker claim is only an initial public report, with secondary, more detailed, reports to come – is impressive.
After analyzing the Bovada Poker Mac and Windows applications, it was decided that these software applications were fairly secure and would require an advanced visual recognition system to collect the data required.'
Although extremely detailed, with mathematical models, hand-history reading scripts and coding (which are beyond this writer’s ken , but will doubtless be subject to intense scrutiny by many online aficionados of the game and its perceived unfairness) the core results of the report allege that:
- There is a massive problem where users are being edge-cased in big hands that they tend to lose a large pot over.
- Our team can easily confirm that Bovada Poker is a haven for collusion activity.
- It was determined that there are zero counter measures against bots and no front end way to try and detect bots/injectable systems.
Report states that:
These problems could be linked to a rogue employee(s) or hacker group that may have compromised the random number generator and shuffling algorithms used by the poker room software. It is also possible that this is a coincidental mistake made by the initial programmers of the random number generator/shuffling algorithms.'
A third possibility does not seem to have found any real substance during their ‘research’, the team stating:
Another, less likely possibility, is that Bovada is knowingly using their own software loophole to steal large amounts of user money,” as they later reveal that “From our base analysis…what occurred at Absolute/Ultimate Bet is not occurring on Bovada Poker in a noticeable way.”
The report also states that one of the difficulties they faced in compiling the report was the fact that Bovada is a private poker room, and they also point out:
Since Bovada Poker is not located within the United States, it is confirmed that the software has not readily been verified by the Nevada Gaming Commission or related American gaming control boards.”
That's something which they claim led them to initial suspicions that the poker room “may have potential security risks not checked by adequate control boards,” a belief which they allege their report confirms as having led to serious cheating issues and which – somewhat confusingly it may seem to many, “show that Bovada Poker is operating an unfair poker room (even while passing modern gambling software verification tests).”
They also claim their team is creating security on other online sites including alongside Bovada including:
- America’s Card Room
- BetOnline
- Sports Betting.ag
- Black Chip
- Carbon
Following these separate public reports, a large centralized report with access to all open source software tools, collection data, and image/video evidence will be released at once.
Whether this report turns out to contain any real issues of substance or not, the timing is not particularly good for the online gaming industry in general, coming in the wake of investigations into, and restrictions on, DFS and at a time when the big poker sites are doggedly clawing their way back into the US markets state-by-state.
It should be noted however that Bovada is, according to their own website, operated by Salmon River Technologies Ltd ('Salmon River Technologies Ltd', pursuant to a gaming license issued by the Kahnawake Gaming Commission, located in the Mohawk Territory of Kahnawake, Canada).
PokerTube will bring you responses from Bovada and any other interested parties as soon as they become available.
Any advices?
Hi guys, this just happened, I won ~$10000 on Bovada slots (Good girl bad girl) and i'm paranoid about tax issues. I really don't want to pay as I feel like something like this shouldn't be taxable to begin with. All it shows is a lack of understanding of EV on the IRS part, or greed, or both.
Any advices?
I advise you to pay your taxes. I'm guessing that a judge will not be sympathetic to the 'I really didn't want to pay' defense.
However, should it work, let me know, because it turns out that I really don't want to pay my taxes either. What a coincidence! We have so much in common.Hi guys, this just happened, I won ~$10000 on Bovada slots (Good girl bad girl) and i'm paranoid about tax issues. I really don't want to pay as I feel like something like this shouldn't be taxable to begin with. All it shows is a lack of understanding of EV on the IRS part, or greed, or both.
Any advices?
my advice would be; don't ask questions on a public forum on how to commit fraud.
If you would like to not pay taxes then I would suggest losing it all back to them. problem solved.
Keep proper track of winnings and losses.
Write off losses against winnings: report winnings on Form1040, line 21, and losses on Schedule A, line 28.
also bovada stated in their terms and conditions that they do not share information with government agencies. so how would they even know I won so much?
I have also previously cashed out small amounts without being asked where the money came from. What would make 10k different?
But guys, this is online gambling. It's illegal to begin with, if I do report it that's like saying 'hey look at me, I gambled online and I knew it was illegal, come confiscate my $10k'
also bovada stated in their terms and conditions that they do not share information with government agencies. so how would they even know I won so much?
I have also previously cashed out small amounts without being asked where the money came from. What would make 10k different?
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There are certainly no federal laws against online gambling. Are you in a state that specifically makes online gambling a felony? Are there any other than WA that do?Regardless, I don't think that the 'my earnings were illegal and therefore not taxable' defense will be much more successful than the 'I really didn't want to pay' defense. But then, I'm no lawyer. It certainly didn't work for Al Capone, though. Also, money earned through illegal means is taxable (I think that there's even a separate line item for it on the tax form?) However, these are not illegal. Just report them as gambling winnings.
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Your $10k will not get confiscated. You will just pay taxes on your winnings (just like everyone else has to) and keep the rest (just like everyone else gets to). Don't forget to write off any losses. Get an accountant to do your taxes if you are confused.As for how they will find out...
1. Just because they don't provide info to government agencies NOW doesn't mean that they won't at some point in the future through some deal with the US government. This is what happened with the Swiss banks. Perhaps they would offer some amnesty to people who 'fess up, perhaps not.
2. If $10k is a significant amount of money (compared to your usual income) and you get audited you are f***ed. It is hard to hide $10k when you make $40k per year.
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3. Large transactions tend to get reported, whether you know about it or not. CTRs, SARs, etc. Your bank has an obligation to do this.You gambled. You won. Pay your taxes and be happy that you are ahead, which is more than 99.999% of gamblers can say. If you want to gamble more, do it against a casino, not the IRS. Filing a fraudulent return is serious business.
There are certainly no federal laws against online gambling. Are you in a state that specifically makes online gambling a felony? Are there any other than WA that do?
Regardless, I don't think that the 'my earnings were illegal and therefore not taxable' defense will be much more successful than the 'I really didn't want to pay' defense. But then, I'm no lawyer. It certainly didn't work for Al Capone, though. Also, money earned through illegal means is taxable (I think that there's even a separate line item for it on the tax form?) However, these are not illegal. Just report them as gambling winnings.
Your $10k will not get confiscated. You will just pay taxes on your winnings (just like everyone else has to) and keep the rest (just like everyone else gets to). Don't forget to write off any losses. Get an accountant to do your taxes if you are confused.
As for how they will find out...
1. Just because they don't provide info to government agencies NOW doesn't mean that they won't at some point in the future through some deal with the US government. This is what happened with the Swiss banks. Perhaps they would offer some amnesty to people who 'fess up, perhaps not.
2. If $10k is a significant amount of money (compared to your usual income) and you get audited you are f***ed. It is hard to hide $10k when you make $40k per year.
3. Large transactions tend to get reported, whether you know about it or not. CTRs, SARs, etc. Your bank has an obligation to do this.
You gambled. You won. Pay your taxes and be happy that you are ahead, which is more than 99.999% of gamblers can say. If you want to gamble more, do it against a casino, not the IRS. Filing a fraudulent return is serious business.
Urgh... I make $0 a year outside of gambling. Last year I applied for welfare and didn't get it and i was pissed enough as it is. Now they want me to pay for other people's welfare? no thanks...
And how much taxes are we talking about? 10%? 30%? 50?% 90%?
Urgh... I make $0 a year outside of gambling. Last year I applied for welfare and didn't get it and i was pissed enough as it is. Now they want me to pay for other people's welfare? no thanks...
And how much taxes are we talking about? 10%? 30%? 50?% 90%?
If at the end of the year your only income is 10k then it would be 10-15% but then you would qualify for EIC so you would probably get most of that back.
If at the end of the year your only income is 10k then it would be 10-15% but then you would qualify for EIC so you would probably get most of that back.
If their earned income is $0, they will not qualify for the EITC.
But, if this is your only income, you won't owe anything because you get a standard deduction of $6200 and a personal exemption of $3950 (assuming you are single and nobody else can claim you as a dependent).But guys, this is online gambling. It's illegal to begin with, if I do report it that's like saying 'hey look at me, I gambled online and I knew it was illegal, come confiscate my $10k'
also bovada stated in their terms and conditions that they do not share information with government agencies. so how would they even know I won so much?
I have also previously cashed out small amounts without being asked where the money came from. What would make 10k different?
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If you want to cheat on your taxes, then go ahead. But don't come onto a forum with your absurd rationalizations.Bovada Live Dealer Reddit Yahoo
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