$50k cash or $50k slot play (to avoid taxes)?

I hear you axel. I'm not trying to mess this up for anybody. Threads like this make me love this forum

Quote: AxiomOfChoice

I figure that if you're going to steal money, the IRS is really the wrong target. You might want to pick someone without the means or the inclination to make your life a living hell.

Only if you're a conservative political group ;)

Quote: Beardgoat

I can't believe there is a casino in the US that is giving away 50k in free play and not reporting this on a 1099. DRich would you be comofortable saying how much you've been given in free play that was not put on a 1099?

I have asked for freeplay in lieu of cash for $5000 and was given it.

Many casinos will not allow the use of freeplay on machines that they lease and have to pay a percentage of handle to the manufacturer.

I'd take the cash and deal with it. I couldn't talk down cash to take something of a lessor value being free play.

$55000 free play yes but not 50000. Plus you're probably talking a week to convert it.

AI: For a $5,000 slot machine win, federal income tax withholding is typically 24%, which equals $1,200. This amount is withheld if the winnings, minus the wager, meet or exceed $5,000 (though, reporting for a W-2G form happens on smaller amounts). The casino will issue a Form W-2G, and the 24% is applied as a prepayment to your overall tax liability.

So paying tax withholding on $50K is $12K in 2026. Can you get better than a 76% RTP of free play and not hit a $2,000 hand pay? At $5/spin at the 10 cent denom on a Dragon link it may be possible, unless you hit a Bonus round, a Major JP, or a Grand JP that's over $2K. If the Grand hits for $50K+, hopefully you weren't on your last $5 Free Play spin and that's all you get, because you'll pay tax withholding of $12K anyway. If you get a week to spin all that, it'd be 10,000 spins.

Quote: ChumpChange

Can you get better than a 76% RTP of free play and not hit a $2,000 hand pay?
link to original post

(snip!)

Yes.
One of my usual places has Double deck VBJ, 5 for 2, D10, Surrender. This is somewhere north of 99.6% return with stupidly low variance. At $100/round, I should be able to redeem it in under an hour.

CTR rules still apply, even without tax forms.

I've noticed e-games don't qualify for free play use. Roulette, VBJ, bubble craps, can't be used for free play.
But if you're so sure that VBJ game pays over 99%, I should not abandon it for regular play. I just need to keep the maximum bet at $245 so if I have to split and double down, the total bet and the all-win amount is $1,960 (8X $245), side bets avoided.

But I've been beaten on these VBJ machines too many times and had the best luck at an actual $15 BJ table.

Quote: ChumpChange

I've noticed e-games don't qualify for free play use. Roulette, VBJ, bubble craps, can't be used for free play.
But if you're so sure that VBJ game pays over 99%, I should not abandon it for regular play. I just need to keep the maximum bet at $245 so if I have to split and double down, the total bet and the all-win amount is $1,960 (8X $245), side bets avoided.

But I've been beaten on these VBJ machines too many times and had the best luck at an actual $15 BJ table.
link to original post

EBJ - blackjack as an electronic table game, or stadium game, is not eligible for freeplay redemption. (The game stinks, anyway. Blackjacks pay 22 for 10.)
VBJ is more like video poker, to the point that I usually find it on a Game King cabinet.

Single line Video Poker (Deuces or Jacks) at either quarters or dollars is fairly unlikely to hit a $2000 award, but it will take 6 to 8 hours for most people to grind through.