Infinite money glitch

[Anonymous No.56169836]

>realize DraftKings doesn’t charge for depositing via credit card
>deposit money into DraftKings using credit card
>immediately withdraw the money into bank account
>pay off credit card with bank account
>keep 2% cash back rewards
>mfw I do this multiple times a week

[Anonymous No.56170302]

>bet on the guys that won the last four years in a row
>win
Fanboyism is real.

[Anonymous No.56170363]

>>56169836
is it your credit card cashback reward? how does it work and how much are you making from this? you just keep it in the same account?

[Anonymous No.56170449]

>>56170363
With Citi’s double cash card you get 1% when you buy something and then 1% when you pay it back. So I move around 10000 and get 200

[Anonymous No.56170658]

>>56169836
>hi anon this is the IRS we see you had 4 million dollars in transactions last year, we'd like to have a chat

[Anonymous No.56170700]

>>56170658
I would just tell the truth. Nothing is this setup is illegal

[Anonymous No.56170734]

>baby's first manufactured spend

There are people who have entire businesses setup around this concept OP.

[Anonymous No.56170852]

>>56170658
>hi IRS, lets talk
>no i made no money
>no cash back doesn't count as income
>yes i have regular sex
>toodles

[Anonymous No.56170868]

going to look into this, i've got 100k in credit doing nothing...

[Anonymous No.56171286]

>>56170658
What would they say?? Stop depositing money and withdrawing it?? Seems like they have no case here

[Anonymous No.56171305]

>>56171286
they don't care about $200 of income bro

[Anonymous No.56171408]

>>56171305
But what if OP does it 100 times a year?

[Anonymous No.56171528]

Is this not defrauding the CC company of their 2%? Or do they not care because they make more than that on each transaction, in which case would it not be defrauding Draft Kings of whatever percent they pay the CC company on the transaction?

This does sound good but I'm also a risk averse retard which is why I don't fuck with crypto

[Anonymous No.56171712]

>>56171528
What would be the fraud? Moving your own money into different accounts? If the CC company counts draft kings as a transaction then what is the problem?

[Anonymous No.56171772]

>>56171408
I think the only risk is the credit card company having a problem with you once they notice, so just cycle credit cards

[Anonymous No.56172369]

>>56171712
The problem is draft kings paying out the ass in CC fees for some dipshit to move his money around

[Anonymous No.56172581]

>>56169836

I'm surprised your card is counting the rewards on the deposit to Draft Kings. Usually they flag charges like and don't pay out for it. What card are you using?

I used to be able to pay my Citi credit card over the phone with my Coinbase debit card and get 6% cash back total on everything I was buying it was insane. It doesn't work anymore and Coinbase lowered their rewards substantially. I did it for like 2 years though which was cool

Now I just focus on churning credit cards and might try bank accounts next. Coinbase ACH transfers supposedly count as a direct deposit to satisfy the requirements

[Anonymous No.56172655]

>>56172369
>The problem is draft kings paying out the ass in CC fees for some dipshit to move his money around

True and they may flag his account after noticing he isn't betting just funneling it. That would be the point of failure for this strategy. In order to evolve it he would need to find another gambling website that offers the same no fee credit card deposits and then simply do break even arbitrage bets on each platform

Example below:

-$20,000 credit to work with

-Draft Kings you bet $10,000 the Lakers will win

-Fan Duel you bet $10,000 the Lakers lose

-One bet loses and ideally you break even with the winner while profiting the credit card reward percentage essentially, withdraw the winning proceeds to your bank account and pay the CC debt off.

-Rinse repeat

I don't know if there are any further fees involved once you actually place a bet nor do I know if Fan Duel is fee free I just used it for this hypothetical example.

It only takes $5,000 churned in one day at 1% rewards to produce $50 which is kind of hilarious. $1500 in a month.

Whatever bet you take it needs to be binary (no nuance you either win or lose) and break you even on the bet is key.

[Anonymous No.56172704]

What card do you you use? I have tried and get hit with a cash advance fee. Be weary anons.

[Anonymous No.56172720]

>>56170449
>So I move around 10000 and get 200
Not worth it confirmed.

[Anonymous No.56172878]

>>56172655
You’re retarded. You think books haven’t thought of this? There’s always juice built in lines, so over the long run you’ll go to 0 unless you look for arbitrage. It’s hard to come by.

[Anonymous No.56172933]

>>56171286
>>56171408
IRS audit would be a pain in the ass and the cc company would probably shut you off anyways. Happened to my friend he was doing it with a coinbase card

[Anonymous No.56173196]

>>56172878

No you are gambling arbitrage is obviously a thing yet generally automated. Simply adding credit card reward for your spending helps your margins. Markets are inefficient there is always profit to squeeze from it. It would work and is basically just another form of wash trading.

Hell there was a guy in the early 2000s that make hundreds of thousands buying $1 limited editions coins from the FED with no fees credit cards were allowed. He was literally depositing thousands of dollars a week of coins to pay back the credit cards. It worked for him and he made bank but eventually they caught on and it was ended.

[Anonymous No.56173218]

>>56172704
>What card do you you use? I have tried and get hit with a cash advance fee. Be weary anons.

This is the most likely scenario I'd be surprised 95% of CCs will charge it in that manner. Its possible a debit card with no fees would work but most don't have cash back rewards. Coinbase does 1% I don't know if they would credit the charge though. They generally do for most things.

[Anonymous No.56173246]

>>56169836
Nice larp dude. DraftKings will freeze and close your account if you try doing this regularly.

[Anonymous No.56173292]

>>56173246
>Nice larp dude. DraftKings will freeze and close your account if you try doing this regularly.

Honestly that is dumb it doesn't even hurt them. Increased liquidity through their system is actually beneficial for them. Kek. The party it extracts value from is the CC companies.

[Anonymous No.56173309]

Are you literally retarded or just trolling? You're OP so it's already known you're a faggot. It's extremely obvious you haven't actually tried this at all. First, no sportsbook or other Gamba service is going to let you just straight up widthdraw "virgin" (unplayed) money just because, let alone in a pure cash form like a bank account transfer. They will require you play a percentage of that money first before you can withdraw anything. .i.e. you deposit $100, you gotta actually gamble $50 (50%) of that before you can withdraw anything. Second, most if not all Credit Cards not only not give any rewards for Gamba transactions, but some may even process the charge as a Cash Advance and hit you with rape interest.

[Anonymous No.56173311]

>>56173292
They don't have a choice, it's basic anti-money laundering policy. If you deposit a large amount (4 or 5 figures) through one method and immediately withdraw through a different method that's the easiest way to set off all the AML alarms.

[Anonymous No.56173371]

>>56173311

Right as I said it would only work if you were taking neutral bets on another platform and then no one would bat an eye by recycling half the winning bet back to the losing platform. Even $1000 per day at 2% is still $20. Honestly you'd think it wouldn't be that difficult to finds even odds between two platforms but I don't gamble so maybe I am retarded. I've read about gambling arbitrage in the past though and many professionals will bet big money and often make upwards of 1.5% per arb and that is without payment rewards. Its not easy to find the profit irregularities but you'd think it would be easy to find plays that break even + the payment perks.

[Anonymous No.56173404]

>>56169836
I complete my CC signup bonuses by paying rent with them.
here in leafland we have Chexy.
got my AMEX signup bonus for tons of MR points scheduled to complete at next month's rent

yeah it costs 1.75% but I make it back and more with the bonuses

[Anonymous No.56173574]

>>56173404

I can pay online with CC in the US but it costs 2.75% but as you said the bonus far out weighs fee.

[Anonymous No.56173726]

>>56172655
>fee free
For me, it's Draftkings. The best sports betting platform. I even do extra transactions and the staff is so friendly and more than willing to oblige.

One time I asked for 2% cash back and they gave me three. I said, "Wow, three for free!" and the nice friendly Draftkings worker laughed and said, "I'm going to call you 3-for-free!".

Now the staff greets me with "hey it's 3-for-free!" and ALWAYS give me three percent. It's such a fun and cool atmosphere at my local Draftkings, I go there at least 3 times a week so I can take my cash back from the credit card company, 1-2 times for good measure on the weekend, and maybe once at dinner when I'm in a rush but want a free 2% cash back that is affordable, fast, and can match my daily financial needs.

I even double dip sometimes, it's a robbery! What a great betting platform.

[Anonymous No.56173734]

>>56173726
Speaking seriously, OP, imagine all those poor bastards who get $45 fees every month. You’re Robin Hood. Good shit man and good luck

[Anonymous No.56173882]

>>56173726
>One time I asked for 2% cash back and they gave me three. I said, "Wow, three for free!" and the nice friendly Draftkings worker laughed and said, "I'm going to call you 3-for-free!".

I remember this pasta. Kek

[Anonymous No.56174143]

>>56171408
Or do it 5.5 times a day for a whole year and make 200k

[Anonymous No.56174164]

>>56173196
Your example is unrealistic you fucking mongoloid. The credit card shit sure, cash back cards exist. As for the gambling part you’re very unlikely going to get the right odds to bet both sides profitably

[Anonymous No.56174524]

>>56174164
>As for the gambling part you’re very unlikely going to get the right odds to bet both sides profitably

I've mentioned that you aren't looking for a profitable trade. You are looking for a minimum of a balanced trade with bet and then you take 2% off the top via the rewards.

Surely a break even gambling arbitrage bet is much easier to find than an actual profitable one without the credit card rewards?

[Anonymous No.56176189]

>>56174524
https://sportsbook.draftkings.com/help/how-to-bet-moneyline
The house isn't fair, with a bet like their example the profit doesn't total the input bet. You also can't think of it like a traditional bet with another person, you're betting with the house and not a partner who is taking the opposite. Tldr on moneyline is that it isn't symmetric and the underdog bet pays out more and the bookie keeps the difference. So you'd need to find money lines that are within 2% payout (dead even teams) and I doubt the bookie would ever have a symmetric moneyline since he'd be working for free with it.

[Anonymous No.56176354]

>>56173726
lel

[Anonymous No.56177105]

This shit is genius if it actually works, I have been looking for a way to buy crypto with a 0 interest for 15 months cc and I think you just figured it out for me op.

[Anonymous No.56177274]

>>56177105
>This shit is genius if it actually works, I have been looking for a way to buy crypto with a 0 interest for 15 months cc and I think you just figured it out for me op.

Based. 3% loan at that too for the of the BT offers available. Use a Citi Double Cash for 2% the first time and then transfer the debt to the new card.

Even if Draft Kings flags your account after the first withdrawal you will still have succeeded in your goal at least once.

[Anonymous No.56177375]

>>56177274
Just looked at this card and it doesn’t have a 0% period. Rewards are great but I’m just looking to secure a free loan for as long as possible. A lot of cards have 15 months at 0% rn.

[Anonymous No.56177396]

>>56177274
Wait never mind, 18 months with that card. I really hope this actually works, fuck jews frfr.

[Anonymous No.56177402]

>>56177375
>>56177375

Right you will have to use what you already have and then open something else with a BT offer.

The Citi Double Cash is generally the best card to do the initial purchase and send the from to the new card. It gives a flat 2% on everything.

It basically doesn't matter which 15 month you pick just avoid any annual fees of course.

[Anonymous No.56177410]

>>56173726
Kek

[Anonymous No.56177411]

>>56177396
>>56177396

Nice I thought it did but sometimes cards will change offers of course you won't get the rewards by paying down the balance transferred amount if I remember correctly but you should apply for that card and have it anyway because it will be a staple in general for reward perks.

[Anonymous No.56177435]

>>56177402
Why do I have to BT? All I want is a 0% loan. Can’t I just max it out buy btc with the cash and pay the minimum for 18 months?

[Anonymous No.56177473]

Honestly I’m thinking about this and if it actually works it’s perfect for more than one reason.

-it fucks over the credit Jew because of sign on bonuses + they will be securing me an interest free loan
-it fucks over the gambling Jew because they will be paying the cc fees
-niggers can’t do it because you need good credit

I’m actually really excited right now.

[Anonymous No.56177497]

>>56171286
>What would they say?? Stop depositing money and withdrawing it?? Seems like they have no case here
You're actually helping them out by increasing the apparent throughput volume. They should thank you. And maybe give you a nice biscotti biscuit for being such an important big brain client.

[Anonymous No.56177509]

>>56177435
No a balance transfer is paying off one credit card with another essentially so I'll make an example below:

-You have $10,000 in available credit right now among 3 cards

-You decide you want to spend $2000 of it on BTC funneling through Draft Kings to your bank

-You first apply for the Citi Double Cash card and they give you a $4000 limit. You can do a balance transfer to this card usually within 4 months to get the 0% APR. Its usually at a 3% upfront fee so its technically 3% APR for 18 months which is still awesome.

-You buy that BTC with a credit card that ISN'T the Citi Double Cash you just opened. Once you have the BTC you go to Citi's website and initiate at balance transfer and use the Citi card to pay off the card that just bought the BTC

-Now you have 18 months at 0% interest to pay off $2060 ($2,000+ one time 3% charge) while you still have your $2000 worth of BTC you bought.

[Anonymous No.56177533]

>>56170449
You still have to consume. No one is winning except the merchants.

[Anonymous No.56177543]

>>56173292
>Honestly that is dumb it doesn't even hurt them. Increased liquidity through their system is actually beneficial for them. Kek.
I see, like myself, there's another big brain in the chat.

>The party it extracts value from is the CC companies.
But not quite as big, see;
>>56177497
In exchange for the 2% cashback, the bank also gains the throughput.

[Anonymous No.56177561]

>>56171528
>This does sound good but I'm also a risk averse retard which is why I don't fuck with crypto
Crypto is literally the most financially secure investment you can possibly make.

Allow me to provide you with some opportunities
>opens "shitcoin.jpeng.exe" folder

[Anonymous No.56177563]

>>56177509
I’m still not sure why you are telling me to do a balance transfer. Can’t I just take the money straight from the draft kings and buy btc?

Example
-secure 0 apr card
-credit draft kings x
-move x cash to bank
-buy btc with x cash
-pay minimum for 18 months

[Anonymous No.56177617]

>>56173311
>If you deposit a large amount (4 or 5 figures) through one method and immediately withdraw through a different method that's the easiest way to set off all the AML alarms.
Let's not forget;
>using anons 1.5k per month example, if that was normal salary over 1 year it'd be 18k. If he's also withdrawing to buy things normally, it'd be 36k yearly turn over.
>using the 5k transaction per day example through the card, that'd increase to 3.6 million per year. Just a mere 100 fold increase in 12 months.
The aml aglo is gonna triggerly poof alright!

[Anonymous No.56177634]

Serious question. Does anyone who works at a bank or insurance company know the difference between a high and low level block? Which ones bestest?

[Anonymous No.56177665]

>>56177563

You only get the 0% APR for 18 months by doing a balance transfer.

[Anonymous No.56177676]

>>56173726
lmao nice one

[Anonymous No.56177732]

>>56173726
LOL I remember this