25cent J/B 8/5 w/ $1,700 progressive jackpot

There used to be a 9/6 job progressive at GSR...I hit it for $1212 once.

I was playing FPDW progressive at the Palms one time and the royal was near $1199. I was sitting there dealt 4rf and was waiting for the meter to get to 1199.99 to draw, but then I started worrying about what delay there might be in the counter and just went and drew at 1199.75 or so and it did not matter after all. I was mostly thinking how comical it would be if someone else stole it from me and reset to 1000 while I was twiddling my thumbs. Another time a lady on my side of the bank hit a royal for under $1001, with about a 1300 pay just a few seconds in front of her. She didn't seem to be at all disappointed.

Quote: FatGeezus

That's not entirely true. You may have to claim the jackpot, but your winnings are offset by your gambling losses.

Actually it depends as gambling losses are reported as itemized deductions. If you don't have enough deductions to itemize, you are going to pay tax on all your gambling W-2 winnings. The IRS doesn't care for gamblers too much ever since the one guy won a court case claiming to be a professional gambler and paying in to Social Security a percentage of his winnings.

Quote: ncfatcat

Actually it depends as gambling losses are reported as itemized deductions. If you don't have enough deductions to itemize, you are going to pay tax on all your gambling W-2 winnings. The IRS doesn't care for gamblers too much ever since the one guy won a court case claiming to be a professional gambler and paying in to Social Security a percentage of his winnings.

Thanks for that answer. I've made the same one dozens of time and pretty much tired of doing it. I would have to have a whole lot of
W2's for me to itemize. Matter of fact, the standard deduction goes up for me this year for 65 and over. Any tax guys know about how much?