Wizardofnothing
Wizardofnothing
Joined: Jul 3, 2015
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onenickelmiracleRisingDough
April 3rd, 2017 at 1:05:42 AM permalink
Guy just hit this and thought he won 1600
Pictures to come
No longer hiring, donít ask because I wonít hire you either
RisingDough
RisingDough
Joined: Oct 4, 2016
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April 3rd, 2017 at 3:01:43 AM permalink
Quote: Wizardofnothing

Guy just hit this and thought he won 1600
Pictures to come




Sick I just left there a few hours ago, what was he playing?
What is life if not a gamble?
Wizardofnothing
Wizardofnothing
Joined: Jul 3, 2015
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April 3rd, 2017 at 5:58:18 AM permalink
https://imgur.com/gallery/Y6keR
No longer hiring, donít ask because I wonít hire you either
FleaStiff
FleaStiff
Joined: Oct 19, 2009
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April 3rd, 2017 at 7:09:35 AM permalink
I just looked at the imjur image .... I'd not have known it was some super prize at all.
djatc
djatc
Joined: Jan 15, 2013
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RS
April 3rd, 2017 at 7:39:36 AM permalink
that's nathan compared to megabucks
"Man Babes" #AxelFabulous
MaxPen
MaxPen
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April 3rd, 2017 at 7:49:33 AM permalink
Was in Binions last year when lady hit on quarters for 550k. She didn't realize what she hit either. They actually pull the chips and shut the machine down. Guess they have to send something off for verification purposes when this happens.
MrV
MrV
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April 3rd, 2017 at 7:59:36 AM permalink
Quote: MaxPen

Was in Binions last year when lady hit on quarters for 550k. She didn't realize what she hit either. They actually pull the chips and shut the machine down. Guess they have to send something off for verification purposes when this happens.



Do they delay making the jackpot payout until the lab has the opportunity to examine the chip(s)?

Who funds the payout: the casino, the mfr. or some form of insurance policy?
"What, me worry?"
SiegfriedRoy
SiegfriedRoy
Joined: Sep 23, 2014
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mamat
April 3rd, 2017 at 8:28:23 AM permalink
Quote: MrV

Do they delay making the jackpot payout until the lab has the opportunity to examine the chip(s)?

Who funds the payout: the casino, the mfr. or some form of insurance policy?



It really depends. Maybe some of the older machines may require chip(s) to be sent off to get verified, but new machines can be verified within 1-2 hours of a slot company technician showing up.

When it's just a normal jackpot, the casino pays the winner. If it's a giant progressive in 6-digits to 8-digits, the offices of the slot machine gets an immediate trigger notification. Then they deploy a technician to the slot. They open it up and do their verification. Once all the steps and process have been verified and it's not a malfunction, they will make the winner sign various forms of payments. You then have an option to go 20 year annual payments or a discounted lump sump. Progressives are payed by a the slot company and all the taxes and forms will not have anything to do with the casino. I heard when you win a progressive at a casino, it won't even show up on your win/loss record of the casino because it has nothing to do with it. However, it will show up on a W-9 from the slot company. I hope this answers your questions Mr. V.
FleaStiff
FleaStiff
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April 3rd, 2017 at 8:39:34 AM permalink
There is a log book inside each slot machine that is filled out everytime the innards are opened.
The technician can usually determine instantly if there was a NON-jackpot event such as a mis-configured reel or something.
The Jackpot Money has to be paid FROM the jackpot fund, not the casino's general revenues. That is why a casino that went out of business was forced to first disgorge its accumulated Jackpot Totals. That is money owned by members of the public who are as yet unidentified, not the casino.
MrV
MrV
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Rigondeaux
April 3rd, 2017 at 8:39:39 AM permalink
Thanks for the info.

It seems deceptive not to offer the option of the immediate payout of the full amount won.

Oh, I understand why they wouldn't want to, and I get the game they're playing, but I don't like it.
"What, me worry?"

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