Hit a 0.000012 probability win!

Was at PH earlier tonight, playing High Card Flush. Got dealt a 6-card straight flush. Got 5,000 for my 5 dollar straight flush bet and 500 on my flush bet. First time I've ever had to fill out a tax form! Was a hell of a night. :)

Also, right before I left, another person sat down and got a 7-card flush. Pays 300 - 1, and is 0.000051. Those would have been my cards if he hadn't of sat down!

Good luck with that tax form. Do you itemize your tax deductions or take the standard deduction. Or just not file taxes?

Sorry, I hate the idea of those things. It's just a tax-man money-grab set with a hair trigger [the threshold is way too low].

Congrats on the Straight Flush! When I played the game, the side bets killed me on that game. But Harrahs NKC has given me some ridiculous offers since that $100 loss...*shrug*

Quote: bluefire

Also, right before I left, another person sat down and got a 7-card flush. Pays 300 - 1, and is 0.000051. Those would have been my cards if he hadn't of sat down!

Er, wouldn't the second card have gone to the next player? Or if you were the only two players, wouldn't your second card have been what you were actually dealt as your first card?

Or do they deal all of a player's cards at once in HCF for some strange reason?

Quote: ThatDonGuy

Or do they deal all of a player's cards at once in HCF for some strange reason?

I would expect that it's dealt as slugs from an autoshuffler, rather than one card at a time to each hand.

Nice hit. We've had a run of good hands lately at my Casino, including a 7 card flush with one card missing in between to connect the 7 cards. So close to the Progressive Jackpot...

Yes, ThatDonGuy, they are dealt out in 7 card piles from the shuffler.


ZCore13

Quote: Dieter

I would expect that it's dealt as slugs from an autoshuffler, rather than one card at a time to each hand.

In most casinos, anything more than two cards dealt from an auto shuffler is dealt as slugs. It really speeds up the deal, but as with the OP, can create some legitimate "stole my jackpot" situations.

I wouldn't be surprised if the autoshuffler was then "retired" to a six foot hole in the desert...

Is it common for the casino to force taxes on a ~5,500 win (on table games)? I heard 10,000 is the threshold where I am, or is this casino/state dependent?

Quote: cmc0605

Is it common for the casino to force taxes on a ~5,500 win (on table games)? I heard 10,000 is the threshold where I am, or is this casino/state dependent?

If it is a 300 to 1 or higher win and greater than $600, you have to issue the form even on the tables.

Here's the IRS:



Reportable Gambling Winnings


Report gambling winnings on Form W-2G if:

1.
The winnings (not reduced by the wager) are $1,200 or more from a bingo game or slot machine,

2.
The winnings (reduced by the wager) are $1,500 or more from a keno game,

3.
The winnings (reduced by the wager or buy-in) are more than $5,000 from a poker tournament,

4.
The winnings (except winnings from bingo, slot machines, keno, and poker tournaments) reduced, at the option of the payer, by the wager are:

a.
$600 or more, and

b.
At least 300 times the amount of the wager, or


5.
The winnings are subject to federal income tax withholding (either regular gambling withholding or backup withholding).

Thanks- what about a case like Mississippi stud or let it ride where you might hit a straight flush (100 and 200:1, respectively) but might do so on multiple wagers?

Quote: cmc0605

Is it common for the casino to force taxes on a ~5,500 win (on table games)? I heard 10,000 is the threshold where I am, or is this casino/state dependent?

$10K is the threshold for filing a CTR (currency transaction report) and it is not related to taxes. There is lots of info on this forum about CTRs if you search.

$1200 is the threshold for getting a W-2G on a machine

$600 on a 300-1 or better shot is the threshold for getting a W-2G on a table game.

Quote: cmc0605

Thanks- what about a case like Mississippi stud or let it ride where you might hit a straight flush (100 and 200:1, respectively) but might do so on multiple wagers?

I believe that would be no W-2G because no individual bet paid higher than 300-1 odds.