Digital Social Hour
Slot King Reveals $250K Secret: Social Media Gold Mine | Vegas Matt DSH #941
Mon, 02 Dec 2024
Discover how a gambling influencer turned his $250,000 slot machine losses into a social media empire! 🎰 Vegas Matt shares the incredible journey from getting kicked out of casinos for filming to having private jets sent for him. Learn how he built a massive merchandise business, sold out 1,300-seat theaters, and created a dedicated community of gambling enthusiasts. Get the inside scoop on running a successful gambling channel, managing massive losses, navigating tax implications, and turning social media influence into multiple revenue streams. From celebrity collaborations with Dana White and Steve Will Do It to hosting sold-out cruises, Vegas Matt reveals how he transformed his passion into a thriving business empire. Experience the evolution of gambling content creation, merchandising success, and building an authentic community. Whether you're interested in the business of social media, gambling entertainment, or building a loyal following, this episode is packed with valuable insights from one of the industry's most successful creators. Watch as Vegas Matt shares his journey from retirement to working harder than ever at 61, proving it's never too late to build something extraordinary in the digital age. 🚀 CHAPTERS: 00:00 - Intro 00:25 - Matt's Recent Win 01:00 - Aliens and Extraterrestrial Life 04:00 - Matt's Recent Events and Updates 05:48 - Matt's Personal Growth Journey 07:40 - Matt's Recent Collaborations 09:19 - Bitcoin Insights and Trends 12:14 - Dealing with Scammers Effectively 16:30 - Meaning of "Sando" Explained 18:41 - Get Even or Escalate Conflict 19:15 - Howie Mandel and His Impact 20:48 - Casinos That Show the Most Love 22:58 - Where to Find Matt Online APPLY TO BE ON THE PODCAST: https://www.digitalsocialhour.com/application BUSINESS INQUIRIES/SPONSORS: [email protected] GUEST: Vegas Matt https://www.instagram.com/vegasmatt/ https://www.vegasmatt.com/ https://www.youtube.com/vegasmatt LISTEN ON: Apple Podcasts: https://podcasts.apple.com/us/podcast/digital-social-hour/id1676846015 Spotify: https://open.spotify.com/show/5Jn7LXarRlI8Hc0GtTn759 Sean Kelly Instagram: https://www.instagram.com/seanmikekelly/ Learn more about your ad choices. Visit podcastchoices.com/adchoices
Chapter 1: What recent wins has Vegas Matt experienced?
I mean, it runs the gamut.
All right, guys, Vegas map part three, former celebrity poker tour winner in the building. Whoa. Just won the last event, right? Yeah, imagine that. That was crazy because you don't really play that often.
No, I mean, even a broken clock's right twice a day, they say. But if you do it this time, I mean. This could be the other 12 hours. I'm feeling pretty good. You've been practicing? No, I haven't played since then.
That didn't invigorate you to get better at poker?
I mean, it's just how the gambling gods are smiling on you. I just was on a roll that day. I'm feeling pretty good. Got up, went for a walk. Nice. I learned most of my health news, it seems, from clips of your podcast. It's all I see on my news feed. Yeah. You've had some interesting ones. You've grown a lot. It seems like it was really early in our career when we came on your show.
I mean, you have a lot of cool guests. What was the deal with all these aliens? You're interviewing people with aliens.
A lot of alien experts. Well, now that the government has basically announced that there's UFOs and stuff, it's interesting to me. That's official? Well, they released all the videos and they're blurry, but I mean, yeah, they officially released UFO footage. Really?
What about the oceans? I heard there's UFOs in the ocean.
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Chapter 2: What are the latest trends in cryptocurrency?
Yeah, I had a guest basically said 95% of the ocean is unexplored and he theorizes that there's aliens that live there and they come out of there. And if you look at where a lot of sightings are, a lot of them are by large masses of water.
I get all my news from the digital social hour. Have you had any UFO sightings or experiences? I have not. They ignore me. Damn.
But do you believe in aliens, though?
I don't know. I mean, I guess I really don't know. I mean, it's like I don't have a strong opinion. I mean, imagine that in all the vastness of the universe to think that we're the only beings. That's a stretch. Yeah. Yeah, but I'll leave that up to you and your other guests. I'll focus on the slot machines. That's my expertise.
How's the P&L looking this year for slots?
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Chapter 3: How has Vegas Matt dealt with gambling losses?
P&L is looking good. I mean, certainly gambling is a losing proposition. I don't know if this is new information for people. The house has an advantage. Every time you push that button on a slot, you are giving them a percentage mathematically. But we're fighting the good fight.
I think we're down, I don't know, in the last, say, 12 months or so, probably down like $250,000, something like that, a little less maybe. So that's just the cost of doing business. Yeah, losing $20K a month. I wish the IRS saw it that way. You can only write off like 8K, right? Well, you can't write off your losses except against winnings.
You can't say like, oh, you know, I have YouTube revenue and I have $250,000 of gambling losses. I'm going to write that off my active income. Like my understanding, you know, and I'm not a tax expert, is that that's not the case. I think there's some people that are challenging that right now. But for the time being, we just kind of just take the loss and suck it up.
Chapter 4: What insights does Vegas Matt have about taxes and gambling?
Damn. Yeah, I feel like someone like you could get away with it, but why risk it, right?
I mean, there's one very, very smart person in the space who, rather than do what a lot of people are doing and writing off their losses as against ordinary income, and then like, say, five years from now, they get audited, and then they go back, and then they say, no, you can't do that. And they get just going to owe massive penalties and additional taxes.
There's one guy who's going back and filing amended returns for previous years, and then he's going to challenge it. And he's already paid the taxes, so there won't be any penalties. So that's a smart way of doing it. And if that one goes all the way through the tax courts and he wins, which I think is unlikely, then that would be big for all of us.
Chapter 5: What exciting collaborations has Vegas Matt been a part of?
Interesting. Well, shout out to him for taking that risk because I wouldn't want to do that. You've been gambling all over since you last came on. I saw you went on a cruise.
We've gone on two cruises now. Really fun. One of the most fun things about it is the fans that we've attracted are just absolutely amazing. And it seems like our show's kind of like a podcast. We're gambling, but we're also talking about everything, current events, whatnot. And your vibe kind of attracts your tribe. And we just have the nicest fans.
So like my first cruise, I was a little scared. I'm like wondering who's going to show up, you know, is it going to be like the misfit brigade or something like that? And, and everyone was cool. And a second cruise, same thing, just like the greatest group of people. And so we, I would gamble, do group polls, play on the ship the whole time, you know, go on excursions together and a lot of fun.
And we just did a big event in Michigan and, Our first ever, we sold out a theater where Theo Vaughn or whomever would go for a concert or whatnot. And we had a 1,300-seat theater in Detroit. And we did a night with Vegas Matt. And it was really, really fun.
Wow, you sold out 1,300 seats in Detroit?
Yeah, it was a 1,000-person waiting list.
Holy crap.
Yeah.
Just to watch you gamble?
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Chapter 6: How does Vegas Matt engage with his community during events?
Well, we just to kind of meet and greet, talk, answer questions, try to throw out a few, you know, some entertainment. Wow. And then we had in Michigan, online gambling is legal. So we had FanDuel did a great job putting the event together or FanDuel Casino, I should say. And we gambled live on stage on our computer.
And then the audience was playing along and we played a game called Crazy Time, which is a lot of fun. And we bought some bonuses and we... Yeah, we played a couple of our favorite games just kind of live with a big audience. It's awesome. I don't think anyone's ever done anything like it before, but we're definitely planning on a world tour.
That's amazing, man. It's been cool to see your growth because I remember the first time you came on, you were just losing money doing this for fun. Yeah. And now to see where you're at now, it's incredible.
Yeah, thanks. You too, man. It's like it's just fun. Social media is the new horizon. I mean, I literally don't watch TV. I don't think a lot of people watch TV. We're looking at our phones. We're looking at those reels, looking at that tick tock. And and it's just it's incredible.
And then to be in, you know, like we're here at the celebrity poker tournament right now and to be a celebrity is a trip.
Unreal. It's cool to see you embrace that. And I think you and EJ are a really good pair together in business.
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Chapter 7: What is the future for Vegas Matt's content creation?
Yeah, it's unusual for me to be alone without EJ on the pod. Hopefully I won't say anything dumb. He's watching you right now. Yeah, he's over there in the compliance department. He's your PR crisis. Yeah.
You have any PR crisis moments yet?
Nothing to speak of, really.
No cancellation attempts?
No, I've been hating myself. We don't do much live stuff, so if I say anything inappropriate, he edits it out. I'm smart enough to know. These days, you can't really say whatever comes to mind. You've got to be conscious. For the most part, I'm conscious.
That's good. You've got to be careful once you're a celebrity, man. Yeah. How about you? Have you been behaving yourself? No. Anytime I am part of a cancel attempt, it's my guest. It's usually not on me. Yeah. So I'm good. But it doesn't like blow over to you ever? Sometimes I'll get heat.
Like Bryce Hall came up to me yesterday at the dinner and he was like, why do you have Harry Sisson on the podcast? Like you folded. I was like, you know, I like having on both sides.
Oh, I've seen, I saw a lot of his stuff during the election cycle.
Harry Sisson?
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