rxwine
rxwine
Joined: Feb 28, 2010
  • Threads: 166
  • Posts: 9685
September 1st, 2020 at 11:25:47 PM permalink
Normally, on a slot machine bonus round, from a single bet, the machine will give so many free spins. If at the end, the total win is at or above $1200 the bonus round generates the customary W2.

What if instead, a bonus round required individual bets for each spin. And while you could still win a the same large amount at the end, no single win would be larger than $1199.

A machine starting a bonus round would message the player that the next 10 bets would be at increased payback. If the player walked away, anyone could benefit from the enhanced bets if they played them off instead.

See, a player could walk away with a multi-thousands on a really good round of bonuses., yet each bet and win is under the acceptable limit and requires some amount of coin-in each time.
Quasimodo? Does that name ring a bell?
rxwine
rxwine
Joined: Feb 28, 2010
  • Threads: 166
  • Posts: 9685
September 1st, 2020 at 11:27:58 PM permalink
See normally, a bonus round just starts and finishes from a single bet. Um, this would be a loophole, I guess, How would the IRS react?
Quasimodo? Does that name ring a bell?
rxwine
rxwine
Joined: Feb 28, 2010
  • Threads: 166
  • Posts: 9685
September 1st, 2020 at 11:31:26 PM permalink
On a video poker machine, you might get a message that the next 10 hands you play will be 10x pay per bet.
Quasimodo? Does that name ring a bell?
ChumpChange
ChumpChange
Joined: Jun 15, 2018
  • Threads: 31
  • Posts: 1281
September 2nd, 2020 at 12:26:50 AM permalink
Since the standard deduction is $12K or $24K, it would be better if the laws were changed to only give out a W2-G on say $10K instead of $1.2K. Our tax cutter-in-chief only cares about billionaires and tries to cut everyone else off though.
darkoz
darkoz
Joined: Dec 22, 2009
  • Threads: 235
  • Posts: 7148
September 2nd, 2020 at 5:55:56 AM permalink
Quote: rxwine

Normally, on a slot machine bonus round, from a single bet, the machine will give so many free spins. If at the end, the total win is at or above $1200 the bonus round generates the customary W2.

What if instead, a bonus round required individual bets for each spin. And while you could still win a the same large amount at the end, no single win would be larger than $1199.

A machine starting a bonus round would message the player that the next 10 bets would be at increased payback. If the player walked away, anyone could benefit from the enhanced bets if they played them off instead.

See, a player could walk away with a multi-thousands on a really good round of bonuses., yet each bet and win is under the acceptable limit and requires some amount of coin-in each time.



Your idea has merit because it is already done (best way to prove merit of an idea imo)

Japanese law prohibits any single spin from winning more than 15 credits. Pachinko and Pachislo machines have bonus rounds designed to get around the law (a recognized and legal loophole)

When you trigger the bonus you get a set amount of BIG CHANCE spins (direct translation here in the US we would probably call them lucky jackpot spins)

You have to pay the max for each spin but literally nearly every spin is s winner of ten or fifteen credits (so really 7 or 12 credits minus the cost of spin).

These big chance rounds can be quite lucrative. I own a Pachislo machine and they have emptied out my hopper on occasion.

While someone could walk away and leave remaining spins for vultures they have loud exciting music playing the whole time to cue the player that they are in the middle of s bonus round. Pretty certain there is no opportunity to vulture there
For Whom the bus tolls; The bus tolls for thee
rsactuary
rsactuary
Joined: Sep 6, 2014
  • Threads: 19
  • Posts: 1687
September 2nd, 2020 at 7:11:36 AM permalink
Better yet, raise the limit at which a W2-G is written to $5000 or $10000 and index to inflation.
darkoz
darkoz
Joined: Dec 22, 2009
  • Threads: 235
  • Posts: 7148
September 2nd, 2020 at 7:49:01 AM permalink
Quote: rsactuary

Better yet, raise the limit at which a W2-G is written to $5000 or $10000 and index to inflation.



Better yes.

But would have to convince IRS and any other governing body to make changes to system.

Remember these are not people who understand gambling and just a year or two ago floated LOWERING W2G requirements to $600.

The bonus round situation would be a legal loophole that would not require any government red tape.

BTW, it's done to some extent here in the states already with variable state machines.

Bonus rounds just being paid separate spins
For Whom the bus tolls; The bus tolls for thee
rxwine
rxwine
Joined: Feb 28, 2010
  • Threads: 166
  • Posts: 9685
September 2nd, 2020 at 9:08:49 AM permalink
Quote: darkoz

Better yes.

But would have to convince IRS and any other governing body to make changes to system.

Remember these are not people who understand gambling and just a year or two ago floated LOWERING W2G requirements to $600.

The bonus round situation would be a legal loophole that would not require any government red tape.

BTW, it's done to some extent here in the states already with variable state machines.

Bonus rounds just being paid separate spins



Funny, when I remembered today that I posted this last night, I expected this morning that when I looked at it, someone would have found whatever law prevented such a machine.

Raising the limit has been a long sought idea -- but you can die a couple billion times holding your breath for that to happen.
Quasimodo? Does that name ring a bell?
rsactuary
rsactuary
Joined: Sep 6, 2014
  • Threads: 19
  • Posts: 1687
September 2nd, 2020 at 9:28:04 AM permalink
Quote: darkoz

Better yes.

But would have to convince IRS and any other governing body to make changes to system.

Remember these are not people who understand gambling and just a year or two ago floated LOWERING W2G requirements to $600.

The bonus round situation would be a legal loophole that would not require any government red tape.

BTW, it's done to some extent here in the states already with variable state machines.

Bonus rounds just being paid separate spins



I essentially agree with what you've said here, but just a small clarification... the IRS is just following the tax laws. They don't really have a say in making changes. It's up to the legislators to do that.
darkoz
darkoz
Joined: Dec 22, 2009
  • Threads: 235
  • Posts: 7148
September 2nd, 2020 at 9:35:36 AM permalink
Quote: rxwine

Funny, when I remembered today that I posted this last night, I expected this morning that when I looked at it, someone would have found whatever law prevented such a machine.

Raising the limit has been a long sought idea -- but you can die a couple billion times holding your breath for that to happen.



I believe NYS had a law for years that forbade any live person (dealers included) from touching any gambling playable pieces.

The idea when written (prior to today's mechanical Marvel's) was to prevent legalized gambling by preventing any dealers from spinning a roulette ball or players rolling dice or dealers handing out cards.

When the racinos opened they got around the law through E-games.

So there is some historical precedent for casinos using legal loopholes to get the desired end result
For Whom the bus tolls; The bus tolls for thee

  • Jump to: