ChumpChange
Posted by ChumpChange
Jun 06, 2020

Surveillance Talks

Q. How much of a win, or how many hours of winning, will trigger an investigation of play in a Las Vegas casino?
A. In our casino as soon as someone is winning $5,000 we are notified.

Surveillance Talks
By Arnold Snyder
(From Blackjack Forum Vol. XXI #4, Winter 2001/02)
© 2002 Blackjack Forum Online
http://www.blackjackforumonline.com/content/surveillancetalks.htm

Gambling With an Edge - guest Surveillance Operator, Jackson - YouTube https://www.youtube.com/watch?v=-scsgMW9g50

Busted after playing 5 hands of Blackjack! - Surveillance Footage! - 2003
Las Vegas blackjack card counter backoff, backroom,& ban at Strip casino - YouTube https://www.youtube.com/watch?v=0RtTvK8pl98
Part 2 - Counting cards at blackjack leads to ban at Las Vegas Strip casino - YouTube https://www.youtube.com/watch?v=KP9CHNDsTpQ

Crown Casino bouncers drag man out of poker room - YouTube https://www.youtube.com/watch?v=zpvsloFYGWE

10 Tricks Casinos Don't Want You To Know - YouTube https://www.youtube.com/watch?v=_h76gu9rQLQ

ChumpChange
Posted by ChumpChange
Jun 01, 2020

COVID-19 Casino Tracker

COVID-19 Casino Tracker
https://www.americangaming.org/research/covid-19-casino-tracker/

Violating NYC's curfew is a class B misdemeanor ó which can be punished with up to 3 months in jail or a $500 fine.

ChumpChange
Posted by ChumpChange
May 24, 2020

HITLER'S VEGAS VACATION GETS RUINED! - No more buffets in Vegas

HITLER'S VEGAS VACATION GETS RUINED! - No more buffets in Vegas - Inside the Casino - YouTube https://www.youtube.com/watch?v=9t6J7GV1MIY
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Bonus slots video: $100,000 GONE! 😢My Biggest Loss in 10 Minutes 😢| (FREAKOUT)
The Big Jackpot - Jan 18, 2019
https://youtu.be/falWBYj2hpU
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Shooting Dice in Deadwood - Craps Update - Color Up - May 20, 2020
https://www.youtube.com/watch?v=3DEWXKUehM0

ChumpChange
Posted by ChumpChange
May 18, 2020

Blackjack Card Counting | The Ultimate Blackjack Strategy Guide - Open your 401-G!

Blackjack Card Counting | The Ultimate Blackjack Strategy Guide - Open your 401-G!
https://www.888casino.com/blog/blackjack-strategy-guide/blackjack-card-counting


Here are the results of just one simulation study for a six-deck game with s17 and das (from Chapter 10 Blackjack Attack: Playing the Prosí Way). The simulation was done using the Hi-Lo counting system with the Illustrious 18 (see Chapter 10.7), using a 1-12 bet spread. The first column lists the three penetrations: 4 decks, 4.5 decks, and 5 decks. The second column shows the corresponding card counterís $ win/hour (assuming 100 hands played per hour). The game with the shallow penetration yields a $12.56 /hour win. By increasing the penetration to 4.5 decks, the win/hour jumps to $20.46 (a 63% increase). With the penetration at 5 decks (i.e., deepest penetration), the win/hour escalates to $34.61 (a 176% increase). (Note: This is why casinos never deal all the cards in blackjack; if they did, card counters would have a field day.)

ChumpChange
Posted by ChumpChange
May 04, 2020

Tax question discussed in Video Poker/Gambling

Gambling and Taxes (in the U.S.)
https://easy.vegas/gambling/taxes

"You report your total wins as income in one place ("wins" being the sum of all winning sessions), and, if you itemize, all your losses in another place ("losses" being the sum of all losing sessions). Whether or not you received W-2Gs is irrelevant, since those amounts aren't used for tax purposes. For that reason, the IRS ought to stop requiring casinos to hand out those completely worthless forms."

Tax question discussed in Video Poker/Gambling at Wizard of Vegas - Page 2
https://wizardofvegas.com/forum/gambling/video-poker/32068-tax-question/2/

Where do I stop? 32%, 35% or 37%?
Here are your new income tax brackets for 2019. https://cnb.cx/2EqeW76

Tax reform law deals pro gamblers a losing hand - Journal of Accountancy
https://www.journalofaccountancy.com/issues/2018/oct/pro-gambling-net-losses.html

Professional Gambler Status https://professionalgamblerstatus.com/

Taxation of Recreational Gamblers: An Overview of How to Report Wagering Gains and Losses (EA Journal) - Morrel Law PLLC
https://www.morrellawpllc.com/tax-preparation-and-resolution/taxation-of-recreational-gamblers-an-overview-of-how-to-report-wagering-gains-and-losses-ea-journal/

Comments

gordonm888
gordonm888 May 21, 2020

Gambling wins are listed as Taxable Outcome.



The problem is that gambling losses are listed under Itemized Deductions - and since the standard deduction for married people is about $20,000 most people do not Itemize Deductions. You can easily have gambling losses of $10K or $15K and still find that claiming the Standard Deduction is better. This means that your gambling wins are being taxed and your gambling losses do not offset the wins.