Printable View
I've put this message on Facebook so I'm sorry if you are reading it more then once.
Just a FYI for those of us in the USA in case it's of interest to you. IRS is trying to change the regulation that requires casinos to report wins of $1200.00 to $600. Not only is it bad for casinos, not great for gamblers. Here's what I received from the American Gaming Association:
http://us7.campaign-archive1.com/?u=...0&e=63d132a5eb
That would BLOW! Ugh. Though given the latest generation or two of penny slots, hitting more than $599.99 seems increasingly rare anyway. (Or is it just me?)
Will this means the slot machines would lock up after $600 + single spin win, bonus spin win, or wheel spin win? and would more people having to use their win loss statement to keep taxes from being taken out? The only machine I would be concerned with winning over 600 most of the time is titan 360 and I do not want the machine to lock up each time I win over 600, which happens often. Those betting a dollar and hitting a high major like I do a lot or those betting 1.50 and hitting 200x3 on the prize upgrade for 600 or those max betting at 5 dollars a spin and hitting a mini jackpot over 600, which happens quite often on this machine at my local, especially on the free games.
And for those of us who can't itemize it means paying taxes on losses Ugh!
Derek, said the same thing in a comment when I posted this on FB, but honestly I see a lot of folks hitting around $600 or $700 when I'm staying at Venetian, Palazzo, Aria or Wynn. If they take it down to $600 on my last trip I would have had at least 5 hand pays and the annoyance of sitting there waiting for them to pay me and of course I don't mind tipping for over $1200.00 but just $600 I could live without tipping.Quote:
Originally Posted by boots
What are the chances of these new changes going into effect Evoni? I hope it does not happen; however, I think there are pro's and cons to this. The con is having to be charged taxes and rely more on win lost statement at the end of the year to keep yourself from paying the taxes. The pro is slowing the gambler down to relax, wait for handpay, and then put a hundred or something in the machine and put the winnings away. A lot of people do get over 500 in a machine and instead of cashing out and put a 20 dollar bill or hundred dollar bill in, they keep playing and put it all back.
For penny version i think it is rare as hell any more especially with the "entertainment" style ones like the new crappy aristocratsQuote:
Originally Posted by Evoni
the new ballys and some of the new WMS junk too.
We all know the real paying games are becoming more and more rare it seems and casinos leaning towards stocking the lower payscale themes.
Maybe another reason club cards are starting to require PINS. Never liked tracking cards from day one. I always thought there was more to them than rewarding your play, like hmmmm, penalizing your play. I think it may be coming where you can't play anywhere without a card inserted. Doesn't somewhere in the US already require a card to be used?
I can see where this would benefit no one except government. They are now looking for every penny that they can get their grubby little paws on because they are broke and still spending OUR tax dollars like there's no tomorrow. No wonder that there have been record amounts of people that have been renouncing their citizenship to the U.S. and moving to another country.
I did have at least a couple of those rare wins last month betting $3.00 on The Walking Dead and then $2 on the new Elton John slots. Both paid me over $700.00 on a spin, so personally I wouldn't like to see them go to requiring me to wait for a hand pay on anything above $600.00. :)Quote:
Originally Posted by dvandentop