WizardofEngland
WizardofEngland
Joined: Nov 2, 2010
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November 2nd, 2010 at 5:20:18 AM permalink
Hi forum,

I am an avid poker player from England, looking forward to my first trip to Vegas this Christmas.
I arrive on 20th December for 9 nights, staying at Planet Hollywood.
Can you tell me how busy the place is likely to be?
What the weather is going to be like?
Where I should be eating?

I have about £4000 to last me the trip (about $6500).
I like blackjack, three card poker, and regular poker.
I have never played craps.
What games should I be playing? what stakes?
How do I extract the most value for comps?
Anything else that would help make this trip amazing is greatly received.
http://wizardofvegas.com/forum/off-topic/general/10042-woes-black-sheep-game-ii/#post151727
DJTeddyBear
DJTeddyBear
Joined: Nov 2, 2009
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November 2nd, 2010 at 5:45:08 AM permalink
Quote: WizardofEngland

How do I extract the most value for comps?

In most casinos, comp money is applied before taxes are added. Therefore, use comps to pay for your room. Since taxes are only collected on the cash balance, and hotel taxes are higher than any other tax, you're getting the best value using them to pay for the room.

If you use comps to pay for meals, they too will reduce the tax, but you can NOT use them to pay for the tip. Tips must be paid by cash. Instead, charge the entire bill, including tips (sigh, and tax), to your room. Then, when you check out, pay the entire bill with comps. This assumes you'll your comps will be more than your room bill. If not, then it doesn't matter.

If you can accurately estimate your comps (a VERY hard thing to do), and you think you're getting slightly more than the total room bill, use that excess at a restaurant to reduce the tax, and pay the tip in cash. But don't use too much, or you'll screw yourself on the hotel tax.
I invented a few casino games. Info: http://www.DaveMillerGaming.com/ 覧覧覧覧覧覧覧覧覧覧覧覧覧覧覧覧覧覧 Superstitions are silly, childish, irrational rituals, born out of fear of the unknown. But how much does it cost to knock on wood? 😁
WizardofEngland
WizardofEngland
Joined: Nov 2, 2010
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November 2nd, 2010 at 5:57:28 AM permalink
Do I get tax free winnings? In the UK gambling is 100% tax free. Do I need to fill out a form for this?
http://wizardofvegas.com/forum/off-topic/general/10042-woes-black-sheep-game-ii/#post151727
FleaStiff
FleaStiff
Joined: Oct 19, 2009
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November 2nd, 2010 at 6:07:17 AM permalink
I know nothing about tax law regarding UK citizens visiting the USA. Sorry.

As to various Poker Rooms there are several sites that rank poker rooms by their amenities, their comp rates, and the presumed vulnerability of the people who tend to play there.

What games should you play? Games that you know how to play! Study craps while you are there. Take the free craps lessons the various casinos offer usually around 11:00am or Noon.

There is an informally named and informally defined period in Vegas known as Dead Week. Its the week just prior to the week that contains Christmas. Historically Vegas is less crowded during Dead Week. However, it is by no means "dead"... just less crowded than it might otherwise be.

Charge as much to your room as you can: Everything you can charge to the room has the potential to get comped. It may not actually get comped but if its on the Room Charge it has the potential for being comped.

Good luck.
DJTeddyBear
DJTeddyBear
Joined: Nov 2, 2009
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November 2nd, 2010 at 7:36:44 AM permalink
Quote: WizardofEngland

Do I get tax free winnings? In the UK gambling is 100% tax free. Do I need to fill out a form for this?

I was referring to sales tax, which can't be avoided by any means other than paying with comps.

Income taxes are not an issue unless you win a jackpot (I think $1,200). And then, it's just a form. For Americans, it's no big deal, because estimated gambling losses can be deducted from those documented small wins. Of course, you're supposed to include estimated wins too, but that's another story.

If it's a LARGE jackpot, they may withhold a portion for the tax. I don't know what percent, or what the threshold is.

In both cases, we have to present a Social Security card and other ID before collecting the win.

Cashing in a large amount of chips may present the same problem. I wouldn't know. I've never been lucky enough to hit that limit.


I don't know how foreigners deal with it, other than hoping the wins come in small enough chunks to not be an issue.
I invented a few casino games. Info: http://www.DaveMillerGaming.com/ 覧覧覧覧覧覧覧覧覧覧覧覧覧覧覧覧覧覧 Superstitions are silly, childish, irrational rituals, born out of fear of the unknown. But how much does it cost to knock on wood? 😁
boymimbo
boymimbo
Joined: Nov 12, 2009
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November 2nd, 2010 at 7:53:20 AM permalink
Withholding tax is applied whether you supply them with an SSN or not. Therefore, if you are the citizen of another country, you still get a form with taxes withheld on them. The rate for residents is 25 percent or 28 percent if a TIN is not supplied or under certain conditions. For non-resident aliens, a W2-G is not issued, but a 1042-S is with a withholding rate of 30 percent but on a different subset of transactions.

Quote: IRS Publication 515

Gambling winnings (Income Code 28). In general, nonresident aliens are subject to NRA withholding at 30% on the gross proceeds from gambling won in the United States if that income is not effectively connected with a U.S. trade or business and is not exempted by treaty. The tax withheld and winnings are reportable on Forms 1042 and 1042-S.

No tax is imposed on nonbusiness gambling income a nonresident alien wins playing blackjack, baccarat, craps, roulette, or big-6 wheel in the United States. A Form W-8BEN is not required to obtain the exemption from withholding, but a Form W-8BEN may be required for purposes of Form 1099 reporting and backup withholding. Gambling income that is not subject to NRA withholding is not subject to reporting on Form 1042-S.

Nonresident aliens are taxed at graduated rates on net gambling income won in the U.S. that is effectively connected with a U.S. trade or business.

----- You want the truth! You can't handle the truth!
Mosca
Mosca
Joined: Dec 14, 2009
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November 2nd, 2010 at 7:59:22 AM permalink
If you like 3 Card Poker, try Crazy 4 Poker skipping the Queens Up bet; the Queens Up looks good, but it will chew up your bankroll mighty fast. Element of risk on the basic game is only 1.09% (according to WoO), making it a pretty good play for a mindless carnival game. The Queens Up pay table everywhere I went in Vegas is the worst one, 40/30/7/4/3/2/1, 6.78% house advantage. Ouch. But you still have the Super Ante bet (required as part of the basic game) to give you that shot at The Big Hand.

At 3 Card, there is a new bet, the best 5 card hand from yours and the dealer's hand together. I'd never seen this, and thought about it for a few seconds, then skipped it, figuring that it would be a bad bet, and it is; house edge of 15.28%! That is really, really bad, even for a carnival game. All the Pairs Plus pay tables at 3 Card are the worst one, 40/30/6/3/1, 7.28% house edge.
NO KILL I
soulhunt79
soulhunt79
Joined: Oct 8, 2010
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November 2nd, 2010 at 9:22:04 AM permalink
I've never gotten a solid answer on how planet hollywood rates table games for comps. At MGM properties, I don't think they even rate you under $25.


I generally go between a few different table limits. Playing $5 at times and playing $25+ at times and everything in between. I also like to go around to all the different casinos. If you are staying at Casino A, then gambling at Casino B won't get you comps at Casino A. So to take off things like your room charge, I'd suggest doing any of the bigger betting at planet hollywood.

Don't chase comps, but if your normal play give you comps then try and gamble the most at the hotel you are staying at.
thecesspit
thecesspit
Joined: Apr 19, 2010
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November 2nd, 2010 at 9:36:09 AM permalink
Quote: DJTeddyBear

I don't know how foreigners deal with it, other than hoping the wins come in small enough chunks to not be an issue.



UK and the US have a reciprocal tax agreement, and UK tax law does not tax gambling winnings. If it ever does come up, you'll need to do the magic tax forms and I believe x% will be withheld, but you can claim the balance on your return. Canada has much the same issue, and there's firms who advertise to help you get your taxed winnings, but I believe the process is not too hard to complete yourself. It's never happened to me, sadly.

I am not an international tax lawyer, nor do I play one on TV.
"Then you can admire the real gambler, who has neither eaten, slept, thought nor lived, he has so smarted under the scourge of his martingale, so suffered on the rack of his desire for a coup at trente-et-quarante" - Honore de Balzac, 1829
Nareed
Nareed
Joined: Nov 11, 2009
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November 2nd, 2010 at 9:54:10 AM permalink
Quote: Mosca

At 3 Card, there is a new bet, the best 5 card hand from yours and the dealer's hand together. I'd never seen this, and thought about it for a few seconds, then skipped it, figuring that it would be a bad bet, and it is; house edge of 15.28%! That is really, really bad, even for a carnival game. All the Pairs Plus pay tables at 3 Card are the worst one, 40/30/6/3/1, 7.28% house edge.



That would be the six card bonus bet found at Harrah's properties, including Bill's. I didn't know anything about it, but I figured you can't go wrong by assuming side bets are sucker bets. Besides it pays even if you fold the ante/play portion, which just sets off further alarm bells in my mind. As it happened I was right on all counts.
Donald Trump is a fucking criminal

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