- 4 - Prior to 2001, petitioner maintained handwritten tables for the “speed figures” he prepared. During 2001, petitioner began using a commercially available computer spreadsheet program to maintain and prepare the tables for his “speed figures”. Generally, petitioner makes hand-recorded notes during the race and then later enters the information into the spreadsheet program. In addition to maintaining detailed “speed figures”, petitioner keeps copies of racing forms, racing programs, and betting tickets as part of his record keeping. He does not maintain a separate checking account with respect to his gambling activity. Petitioner does not advertise that he handicaps horseraces, nor does he sell the “speed figures” he prepares. He does, however, offer advice to, and solicit advice from, other regular gamblers. Petitioner also watches videotapes of the races so he can “closely” review each race. Petitioner does not use any wages from his job as a truck driver to finance his gambling activity. Instead, his wagers are a fixed percentage of his “bankroll”. Petitioner’s “bankroll” consists solely of his cumulative winnings at the race track. Generally, petitioner bets 2.5 percent of his “bankroll” on each race. During 2001, petitioner earned a 4-percent return on each dollar bet he placed; i.e., petitioner won on average of $1.04Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 Next
Last modified: May 25, 2011