Mission146
Mission146
Joined: May 15, 2012
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September 2nd, 2020 at 9:38:58 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.



It's a very good idea and there are already a few games (even in USA) that do this. The two examples that come to mind are Super Bonus Keno in the WV parlors where you must make your base bet for each play, but all wins are either doubled or quadrupled. (Forget which)

Another example is a game on some Spielo machines called Triple Ace Poker. In that game, your video poker hands are multiplied...but on at least some variations, you still pay for each of the individual games.

I also agree with those who have said the W2G threshold should be raised. I'd be fine with any increase, (obviously better than none) but 5k seems reasonable enough. It seems like some higher denomination/higher bet games are structured in such a way as to generally avoid W2G...which somewhat defeats the (I assume) purpose of playing such a game.

There may also be a few slot games that do this, but I can't think of any off of the top of my head.
https://wizardofvegas.com/forum/off-topic/gripes/11182-pet-peeves/120/#post815219
DRich
DRich
Joined: Jul 6, 2012
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September 2nd, 2020 at 11:21:27 AM permalink
Assuming you all are not cheating on your taxes and reporting every dollar won, why raise the W2G amount?
Order from chaos
rxwine
rxwine
Joined: Feb 28, 2010
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September 2nd, 2020 at 11:26:46 AM permalink
Quote: DRich

Assuming you all are not cheating on your taxes and reporting every dollar won, why raise the W2G amount?



Paperwork reduction act.
Everything is in high definition today except Bigfoot and UFOs
rxwine
rxwine
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September 2nd, 2020 at 11:35:18 AM permalink
Quote: DRich

Assuming you all are not cheating on your taxes and reporting every dollar won, why raise the W2G amount?



Btw, Iíve always suspected the irs makes more money because too few people keep accurate logs.

Or even bother to keep logs.
Everything is in high definition today except Bigfoot and UFOs
DRich
DRich
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September 2nd, 2020 at 11:38:07 AM permalink
Quote: rxwine

Btw, Iíve always suspected the irs makes more money because too few people keep accurate logs.

Or even bother to keep logs.



I think every casino should go to an account based wagering system, That way at the end of the year every patron could get a statement showing every single win and loss and the casino could report it to the IRS. That way every player would be taxed appropriately. that would allow them to get rid of W2G's.
Order from chaos
rsactuary
rsactuary
Joined: Sep 6, 2014
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September 2nd, 2020 at 11:39:56 AM permalink
I would like to know exactly how much revenue comes in from gambling winnings. I'd rather they set a really high limit, like $20K, with a mandatory tax contribution on amounts over that, with no ability to offset losses. Set the 20K and the percentage to keep tax revenues approximately the same.
Mission146
Mission146
Joined: May 15, 2012
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September 2nd, 2020 at 11:40:55 AM permalink
Quote: DRich

Assuming you all are not cheating on your taxes and reporting every dollar won, why raise the W2G amount?



You're free to assume anything you like.
https://wizardofvegas.com/forum/off-topic/gripes/11182-pet-peeves/120/#post815219
Mission146
Mission146
Joined: May 15, 2012
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September 2nd, 2020 at 11:42:07 AM permalink
Quote: DRich

I think every casino should go to an account based wagering system, That way at the end of the year every patron could get a statement showing every single win and loss and the casino could report it to the IRS. That way every player would be taxed appropriately. that would allow them to get rid of W2G's.



I'm all for this as long as net losses can be deducted from the tax liability and not only used to offset wins. That wouldn't really help AP's much, but would be great for casual gamblers...or losing not-so-casual gamblers, I guess.
https://wizardofvegas.com/forum/off-topic/gripes/11182-pet-peeves/120/#post815219
darkoz
darkoz
Joined: Dec 22, 2009
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September 2nd, 2020 at 11:45:36 AM permalink
Quote: DRich

I think every casino should go to an account based wagering system, That way at the end of the year every patron could get a statement showing every single win and loss and the casino could report it to the IRS. That way every player would be taxed appropriately. that would allow them to get rid of W2G's.



That would require eliminating any gambling without a players card.

Plus savvy players can cheat the system.

Even at table games ratholing is a known method
For Whom the bus tolls; The bus tolls for thee
DRich
DRich
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September 2nd, 2020 at 12:02:08 PM permalink
Quote: darkoz

That would require eliminating any gambling without a players card.

Plus savvy players can cheat the system.

Even at table games ratholing is a known method



Yes, many jurisdictions require the use of a card and they can be completely cashless.. The system works almost perfectly for machine play but table games do cause issues. That may be why so many foreign casinos are getting rid of live tables and adding the stadium style games.
Order from chaos

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