prozema
prozema
Joined: Oct 24, 2016
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June 15th, 2017 at 8:54:44 AM permalink
The one I saw is in the Midwest.
I love it when a plan comes together.
billryan
billryan
Joined: Nov 2, 2009
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June 15th, 2017 at 1:25:21 PM permalink
Quote: DRich

If this thread is referring to the $100k Golden Nugget BJ tournament the payouts are:
1st $50k cash or promo chips
2nd $15k cash or promo chips
3rd $10k cash or promo chips
etc.

The problem is that there doesn't seem to be a cap on the number of players and it is a rebuy tournament. They also let players buy directly into the quarter final and semi final rounds.



Do the promo chips not require a tax form?
It's what you do and not what you say If you're not part of the future then get out of the way
Romes
Romes
Joined: Jul 22, 2014
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June 15th, 2017 at 1:31:18 PM permalink
Quote: billryan

Do the promo chips not require a tax form?

I believe most places treat promo chips as having "zero cash value."

Then again I don't know, because I've never won $10k+ in promotional chips =P
Playing it correctly means you've already won.
DRich
DRich
Joined: Jul 6, 2012
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June 15th, 2017 at 3:35:42 PM permalink
Quote: billryan

Do the promo chips not require a tax form?



I would assume that is the case because why else would someone take the chips over cash?
AxelWolf
AxelWolf
Joined: Oct 10, 2012
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June 15th, 2017 at 5:08:48 PM permalink
I don't know if this is fact or not, or if promo chips would fall under what I been told about free play. ($50k cash or promo chips)

I thought 20k per day was the max they could give one person in free play from a tournament win without there being a form involved. Again, this is just what I was told by the casino so I'm not sure if it's true. It sounded believable to me, especially since a number of slot tournaments top prizes were 20k.
♪♪Now you swear and kick and beg us That you're not a gamblin' man Then you find you're back in Vegas With a handle in your hand♪♪ Your black cards can make you money So you hide them when you're able In the land of casinos and money You must put them on the table♪♪ You go back Jack do it again roulette wheels turinin' 'round and 'round♪♪ You go back Jack do it again♪♪
DRich
DRich
Joined: Jul 6, 2012
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June 15th, 2017 at 6:51:30 PM permalink
Quote: AxelWolf



I thought 20k per day was the max they could give one person in free play from a tournament win without there being a form involved. Again, this is just what I was told by the casino so I'm not sure if it's true. It sounded believable to me, especially since a number of slot tournaments top prizes were 20k.



I am not saying you are wrong but I have never heard that and never seen anything from the IRS to indicate that. It would not be a Nevada Gaming regulation.
theoriemeister
theoriemeister
Joined: Jul 4, 2015
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June 19th, 2017 at 3:21:53 PM permalink
Quote: Deucekies

If you understand this, you have an advantage over a great number of blackjack tournament players.



Thanks, Deucekies.

For my money, I found Wong's book a little too general--for me at least. He gives lots of 'examples' in which you are ahead (or behind) a player (or two), but doesn't give any specific algorithms to help me. I wish there was a chart (like in basic strategy!) that says something along the lines of "With this many hands left, and you are behind (or ahead) by x number of chips, then bet z number of units."

I wonder if anyone on here has ever tried to compile such a chart. . .
ars longa vita brevis
Wizardofnothing
Wizardofnothing
Joined: Jul 3, 2015
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June 19th, 2017 at 8:05:39 PM permalink
No taxes here

On promo chips

https://imgur.com/gallery/FPI2D
NOW HIRING!!!! REQUEST INFO VIA PM

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