Lawmakers push for increase in W-2G threshold

Quote: ChumpChange

BTW, those $10,000 CTR's could probably be raised to $75K based on inflation over the last several decades.

I would think just the opposite. Because people use less cash these days I wouldn't be surprised if they lowered it for Anti-Money laundering reasons.

The Jackpot raise should have happened a long time ago. The $1200 threshold was from the 1970's where $1200 was REALLY a big deal. In 2019, $1200 is not really all that big deal anymore. $5,000 threshold is more like it IMHO. :)

A gallon of gas was 36 cents in 1970, so they could raise the CTR to $100K, lol.

Man wins more than $1.6 million from penny slot at local casino
https://www.10news.com/news/local-news/man-wins-more-than-1-6-million-from-penny-slot-at-local-casino

Quote: darkoz

That's the same in NYS

EDIT: think I read that wrong. You saying no one can win MORE than $600 or that is the jackpot trigger?

Cannot win more. (Corrected to $800 by CrystalMath---Thanks!)

Quote: DRich

Why would the IRS want to lower it? They want as much income reported as possible.

IRS is part of the executive branch, they simply enforce the laws that the legislative branch enacts. In a Democracy of the people and for the people, the lawmakers work for their constituents. That is why the IRS would change it. Of course most people believe American democracy is not for the people, but instead whatever can be sold to the highest bidder.

I think my fastest payout for a W2G was about a few minutes. Longest was probably 30 minutes or so. W2Gs for small amounts are a PITA; $1200 is 12 bets on $100/spin, 24 bets on $50/spin. Not exactly a windfall. Usually there are other machines with the same paytables but sometimes you have to play the 1 machine that's good and if it locks up, your hands/hr goes down. Anyway that's all irrelevant to the casino, they just want to get rid of the paperwork and labor involved so more money can be bet. Players aren't interested in sitting and waiting to get paid, so it looks like this is just some government thing that makes nobody happy.

Another minor thing is that of course player tracking with cards isn't 100% accurate, but it's a factor to consider. When the W2G thing first came out I'm sure there were no tracking systems whatsoever. It's not like the government can't request individual players win/loss if they wanna look into someone further.

Overall I think the amount is way too low today.

Do the casinos routinely grant access to players records? Could the government search players clubs and match social security with dead beats or people on welfare? I know states supply casinos with social security numbers to seize the winnings, but does the casino allow fishing expeditions?

Quote: billryan

Do the casinos routinely grant access to players records? Could the government search players clubs and match social security with dead beats or people on welfare? I know states supply casinos with social security numbers to seize the winnings, but does the casino allow fishing expeditions?

In NYS its reactive, not proactive.

Deadbeat could play for 10 years, then bam jackpot and ss first verified.

Players clubs dont even ask for ss at signup.

Plus after winning a jackpot, deadbeat can return to gamble without penalty until he either a) wins another jackpot or b) satisfies the debt collection

Quote: darkoz

In NYS its reactive, not proactive.

Deadbeat could play for 10 years, then bam jackpot and ss first verified.

Players clubs dont even ask for ss at signup.

Plus after winning a jackpot, deadbeat can return to gamble without penalty until he either a) wins another jackpot or b) satisfies the debt collection

Player's Club SHOULDN'T ask for SS at signup. That's just asking, no, BEGGING for identity theft problems.