ChumpChange's Blog

Does the IRS Consider Cashback and Free-Play Income?

Does the IRS Consider Cashback and Free-Play Income? | Las Vegas Advisor
https://www.lasvegasadvisor.com/question/cashback-irs/

The biggest argument as to why cashback is income is that if you’re 86ed (barred) from a Nevada casino, Nevada Gaming Control has ruled time and time again that you’re entitled to the cashback earned, whereas comps in your comp account are forfeited, since they’re discretionary.
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Edit posted on 10-10-2020
South Dakota Supreme Court: Casino free play not taxable
By Jaci Conrad Pearson Black Hills Pioneer - Dec 19, 2014
https://www.bhpioneer.com/local_news/supreme-court-casino-free-play-not-taxable/article_5584b698-87a5-11e4-8051-6b7e6045ba34.html

Is Free Play Considered Taxable Income? - 07-02-2016
http://slotfanatics.com/showthread.php?18785-Is-Free-Play-Considered-Taxable-Income
kdk wrote: It is not taxed. I have won a few drawings at one of my local casinos. Once it was $1000 in cash- and they gave me a tax form with it. Then won there again and instead my prize was $1000 in freeplay. No tax form for that. For any drawings/prizes anything over $600 cash is taxable. Winnings from the freeplay are taxable of course though.
pelotari wrote: I will confirm what kdk said, and I have had similar wins. I was called in a drawing where there were several winners of $1000 cash. Each of us collected at the cashier, and were given a 1099 tax form (not a W2G) and a copy was sent to the IRS. It was a 1099 since it was a drawing that had no fee to enter, as opposed to a slot win. Then another time I was called in a drawing and won $10,000 freeplay. There were no tax forms on that.

Vlog - All Vegas Poker Rooms and regulations!

All Vegas Poker Rooms and regulations! - Vlog #245 Part 1
K. Pokerkraut
https://www.youtube.com/watch?v=-M-_ceaRNlo

All Vegas Poker Rooms and regulations! PART II - #245 Part 2
K. Pokerkraut
https://www.youtube.com/watch?v=hYnBLKo6h2Y

Clocking the Roulette wheel or not?

Clocking the wheel or just lucky?
From 25€ to 7000€ at AUTO ROULETTE, EVOLUTION GAMING (HIGH STAKES, BIG WIN) - YouTube
https://www.youtube.com/watch?v=rzPaFtpDNwA

Single-zero wheel
0-32-15-19-4-21-2-25-17-34-6-27-13-36-11-30-8-23-10-5-24-16-33-1-20-14-31-9-22-18-29-7-28-12-35-3-26
Double-zero wheel
0-28-9-26-30-11-7-20-32-17-5-22-34-15-3-24-36-13-1-00-27-10-25-29-12-8-19-31-18-6-21-33-16-4-23-35-14-2
Triple-zero wheel
0-000-00-32-15-19-4-21-2-25-17-34-6-27-13-36-11-30-8-23-10-5-24-16-33-1-20-14-31-9-22-18-29-7-28-12-35-3-26
https://en.wikipedia.org/wiki/Roulette

So I'm working on my 10 in a row progressive dozen bet. I could win 91 times my original bet if I hit it really early; 85 times my original bet if I win one of 12 straight-up bets 10 times in a row.

Most Euro wheels in Vegas have a $100 minimum, there are a couple of exceptions if you can find them.
Playing Roulette at Las Vegas Casinos in 2019 https://www.onlineunitedstatescasinos.com/las-vegas/games/roulette/

Difference Between European Roulette and Single Zero Roulette
European Roulette and single zero appear to be the same but there is one major difference. European Roulette has a rule known as “la partage.” This returns half of an even money bet if the ball lands on zero. This cuts the house edge on red/black, odd/even and hi/lo to 1.35%. All other bets on both tables have a 2.7% house edge.

Encore, Wynn, and upscale MGM properties are the only ones that offer European Roulette in Las Vegas. The minimum bet at MGM Grand is either $10 or $25. The others all require at least $100 to play.
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I was playing my home game roulette software (which very definitely avoids landing on my bets) and turned $5,000 into over $12,000 pretty quickly using this system of $200, $300, $450, $700, $1050 on a dozen bet (raise on each loss, reset on a win or 5 losses in a row), and $25 on either 5 blacks or 5 reds within that dozen bet (opposite color of the last number spun) and raise to $50 after 6 losses on the quarter bet, and raise to $100 after 3 losses more, then call it a lost cause after two $100 bets. It's based on this video I saw on YouTube a couple nights ago.
The roulette player who submitted the system said he went from around $2,700 to $75,000 at a real table in 9 hours. He had 2 more buy-ins available.
I could divide down to $8, $12, $18, $28, $42 on the dozen bet and $1, $2, or $4 on the 5 red or black bets within the dozen for a $120 buy-in at a $1 roulette machine.

$9,000 PROFIT | Crazy Joe's Roulette System Review - YouTube https://www.youtube.com/watch?v=6CyxomofEO4

How to Play Ultimate X Video Poker

How to Play Ultimate X Video Poker – Casino Player Magazine | Strictly Slots Magazine | Casino Gambling Tips
https://www.casinocenter.com/how-to-play-ultimate-x-video-poker/

Tournament Poker - Five Common Stack Sizes and What To Do with Them

I had a dream about casino chips last night so I thought I'd look up a similar image. It linked to this article.

Keep Your Tournament Game Simple: Five Common Stack Sizes and What To Do with Them
https://www.pokernews.com/strategy/keep-your-tournament-game-simple-stack-sizes-25067.htm