Avoiding hand pays
Playing lower limit does mean more work for my partner, who handles our machine play. But he is a machine play guy at heart. This is his thing. Usually time isn't an issue. What do I care how long it takes him. :/ When we are pressed for time and he has to play a certain amount through at the lower limits, he sometimes plays multiple hands machines.
So today, he drew an initial 5 card Royal, while playing a 50 play machine at the 25 cent level. 50 grand. (50 x $1000 royals). Sorry no picture. I wish he had taken one, because I would have liked to have seen it (I wasn't with him). So much for avoiding handpays. :( With that total on one account (in his name), I don't know that we will be able to offset that amount. We probably will end up paying some taxes on it. It's sort of a mess. A good mess, but never the less, time to re-think our strategy going forward.
Quote: IbeatyouracesI had $409,000 in w2-g's in 2012. That was a mess!
YIKES! Obviously, your machine play totals much more than ours. But even at our level, it's just easier to avoid handpays. Not trying to avoid paying taxes (if you are reading dear uncle S), just less hassle and more flexibility.
Quote: kewljYIKES! Obviously, your machine play totals much more than ours. But even at our level, it's just easier to avoid handpays. Not trying to avoid paying taxes (if you are reading dear uncle S), just less hassle and more flexibility.
I was getting EXTREMELY LUCKY on $1 9/6 JoB and DDB Spin Poker along with some single line $5 40/10/6 DDB.
Also, all mine was in Detroit so I needed to be extra careful of my surroundings ;-)
Quote: sodawaterInitial 5-card royal on 50 play -- how many times would you check that you correctly held all 5 cards? would stress me out.
It should've auto held. Saw a five play dealt royal today.
Quote: sodawaterInitial 5-card royal on 50 play -- how many times would you check that you correctly held all 5 cards? would stress me out.
Yeah....I think I would have called an attendant over to watch the redraw, just to be sure machine didn't malfunction.
I really never considered this scenario. I did consider the that if you held 4 to a royal you could possible draw two or three royals on the re-draw which would still generate a small handpay, but never this.
Quote: kewljAt the start of the year, my partner and I decided to keep all our machine play video poker play at the low 25 cent level to avoid all hand pays (although he has cheated a number of times). There are 4 negatives that I associate with hand pays. 1.) extra work to offset them come tax time. 2). obligation to tip the attendants (I recently talked about this in the tipping thread), 3.) Attention drawn. Just unnecessary danger in that you sit there exposed for 10-15 minutes, while everyone in the casino, now knows you are carrying substantial cash. I've often though it goes even a step further...in that you could be the target of some casino employee, notifying an accomplish of your win and address. Call me paranoid, but why take additional risks. 4.) just a general delay and waste of time.
Playing lower limit does mean more work for my partner, who handles our machine play. But he is a machine play guy at heart. This is his thing. Usually time isn't an issue. What do I care how long it takes him. :/ When we are pressed for time and he has to play a certain amount through at the lower limits, he sometimes plays multiple hands machines.
So today, he drew an initial 5 card Royal, while playing a 50 play machine at the 25 cent level. 50 grand. (50 x $1000 royals). Sorry no picture. I wish he had taken one, because I would have liked to have seen it (I wasn't with him). So much for avoiding handpays. :( With that total on one account (in his name), I don't know that we will be able to offset that amount. We probably will end up paying some taxes on it. It's sort of a mess. A good mess, but never the less, time to re-think our strategy going forward.
Wow. I would love to have the problem of offsetting that win. I do understand your POV on it, though. Congrats on the mixed blessing.
(he coulda held 4 and maybe avoided the w2, hah)
BTW, I read this thread hoping there really was a way to avoid hand pays (other than the way I know at lower jackpots)
Quote: kewljSo today, he drew an initial 5 card Royal, while playing a 50 play machine at the 25 cent level. 50 grand. (50 x $1000 royals).
BTW, that's such a unique hit, I would wait longer before mentioning it publically. Not that anyone is actively on here looking for AP players to boot out of casinos (because surely they have something better to do), but that's an easy one to put 2+2 together if stumbled across by the right person if you were already aware of it.
I used to learn about big hits of the day from security guards or cocktail waitresses in a casino -- people gossip about anything unusual they saw.
Congrats on the big win. Can't you do a 1099 or something to basically have your partner give all the $50K to you, then you can write it off? Or maybe it should stay in his name, since you're likely to already be winning for the year.
BTW: 50-play $0.25 VP is not a game I would play when "trying to avoid hand-pays". I'd be playing 10 lines of $0.25 denom (or 50 lines of $0.05 denom). Then again, I don't care about hitting taxables and am not anti-jackpots/W2G's.
Taxes are going to be a mess. He has social security income, which this hit alone will push him to the point that he has to pay tax on at least some of his SS. We are connected legally now, not just business partners, so I am not sure loading up my side of the ledger with all the wins is going to be that beneficial. I think I will make an appointment with my tax guy to discuss this now, rather than wait until next year. That way we will have time to go a different direction if there is one that is beneficial.
Quote: GWAEKj, you deserve a ban for not getting a picture of such an awesome hand. Haha, just kidding. I was trying to find a picture of one to do a reenactment and was unable to.
It wasn't my play. I wasn't even in the building. I would have liked to have seen it also (even a picture). All I have is his word.....plus this stupid check from the casino. Lol.
