W2G threshold for e-Table games?
July 29th, 2012 at 3:59:15 PM
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e-Table games are counted as slot machines, thus are subject to the $1200 threshold for a Federal W2G.
but these games are usually 2For1 format in even money bets.
ie: Roulette: odd/even, red/black
Craps: Pass/Dont Pass
So if you bet $600 and win, you get back $1200.
Do you get a W2G when you get $1200 profit, or when the machine returns $1200 to you?
and b4 you say logically it has to be $1200 profit, here's an example of slots:
$25 coin in, and you hit for $1200.
Do you get a W2G even though you only won $1175?
but these games are usually 2For1 format in even money bets.
ie: Roulette: odd/even, red/black
Craps: Pass/Dont Pass
So if you bet $600 and win, you get back $1200.
Do you get a W2G when you get $1200 profit, or when the machine returns $1200 to you?
and b4 you say logically it has to be $1200 profit, here's an example of slots:
$25 coin in, and you hit for $1200.
Do you get a W2G even though you only won $1175?
Craps is paradise (Pair of dice).
Lets hear it for the SpeedCount Mathletes :)
July 29th, 2012 at 4:04:44 PM
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It is not the profit, it is the pay amount. If the machine pays $1200, you get a w2-g. I recommend live tables if you want to bet that kind of money.
I heart Crystal Math.
July 29th, 2012 at 4:41:14 PM
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CM is right, it is any win over $1199 INCLUDING the amount of the wager. Using your example of a $600 even money bet, a W2-G would be generated because the total pay was $1200.
Before you diagnose yourself with depression or low self-esteem, first make sure that you are not, in fact, just surrounded by assholes." ~ William Gibson
July 29th, 2012 at 5:05:00 PM
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Quote: avargovCM is right, it is any win over $1199 INCLUDING the amount of the wager. Using your example of a $600 even money bet, a W2-G would be generated because the total pay was $1200.
wow!!! thx!
thats kills my 'Don't pass' press strategy :(
Craps is paradise (Pair of dice).
Lets hear it for the SpeedCount Mathletes :)
July 29th, 2012 at 5:18:54 PM
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i thought $199 was the max safe bet for Dont Pass on a 3/4/5x table:
$199 Dont, $1194 odds
If a 7 shows, i win $1194 if the Point was a 6/8 :)
but apparently I win $1194 + my original bet = $2587
2587 * 28% tax = $724 thus my profit is only $470.
I only keep 1/3 of the $1194 profit. ugg...
so the max safe bet is $92:
$92 Dont, $552 odds
If a 7 shows, I win $552 if the Point was a 6/8
552 + original bet (92 + 552) = 1196
so by keeping it at $92 Dont, I keep more $ in my pocket than if I won with a $199 Dont.
Baby Jesus is crying right now...
$199 Dont, $1194 odds
If a 7 shows, i win $1194 if the Point was a 6/8 :)
but apparently I win $1194 + my original bet = $2587
2587 * 28% tax = $724 thus my profit is only $470.
I only keep 1/3 of the $1194 profit. ugg...
so the max safe bet is $92:
$92 Dont, $552 odds
If a 7 shows, I win $552 if the Point was a 6/8
552 + original bet (92 + 552) = 1196
so by keeping it at $92 Dont, I keep more $ in my pocket than if I won with a $199 Dont.
Baby Jesus is crying right now...
Craps is paradise (Pair of dice).
Lets hear it for the SpeedCount Mathletes :)
July 29th, 2012 at 5:35:59 PM
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My 60th Birthday, Midnight, I hit a jackpot symbol and 2 double bars on a $5 slot.
Just my luck, play $5 cause it's my birthday and I ma not gonna get paid.
Machine kept flashin 239 ... 239...239
Thought it was an error code ! Then i got paid 239 X 5 for handpay of $1199.
Just my luck, play $5 cause it's my birthday and I ma not gonna get paid.
Machine kept flashin 239 ... 239...239
Thought it was an error code ! Then i got paid 239 X 5 for handpay of $1199.
July 29th, 2012 at 6:18:49 PM
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Quote: buzzpaffMy 60th Birthday, Midnight, I hit a jackpot symbol and 2 double bars on a $5 slot.
Just my luck, play $5 cause it's my birthday and I ma not gonna get paid.
Machine kept flashin 239 ... 239...239
Thought it was an error code ! Then i got paid 239 X 5 for handpay of $1199.
239 *5 = $1195
close enuf :P
Craps is paradise (Pair of dice).
Lets hear it for the SpeedCount Mathletes :)
