ChumpChange's Blog

MS Stud - 4 of a Kind to $50K

I was just playing Mississippi Stud for the first time last night on the web and had only 2 good hands: a Full House, and a 4 of a Kind. If I expect my high hand to be 4 of a Kind with no Straight Flushes or Royal Flushes anywhere in sight, I came up with this betting table under the assumption that there will be a $50,000 Maximum Aggregate Payout (so I want to hit those more often than a Royal Flush!)
If I win a Full House that could get me to the next betting level above a certain balance, and so could a few smaller wins in a row. I'd reduce my Ante bet if I fell below the balance listed, or raise it if I went above the balance listed. I went through 3 Full House levels down just waiting for one, so that's why I start with 4 at $2,000.

I'll have to have a CTR filled out on cash-outs of $10,000+, not sure if they'd fill one out at the table while I continue to play for more. W-2G's only apply to Royal Flushes. Some Straight Flushes you never bet on because they were weak cards to begin with, but a max bet of $500 x 100 will pay $50,000 on a Straight Flush. A max bet of $100 will get $50,000 on a Royal Flush, unless there's a different pay table involved, like 800 to 1, instead of 500 to 1.

If playing the web version of the game where I can start out with $50,000, just multiply all values in the table by ten.

Here in Nevada, an aggregate payout rule must be in plain view, and it cannot apply to wins less than 50 to 1 (Nevada Revised Statute 5.190)
https://wizardofodds.com/ask-the-wizard/let-it-ride/

Playing Mississippi Stud in Las Vegas 2018 https://www.onlineunitedstatescasinos.com/las-vegas/games/mississippi-stud/
Table limits at Bally's are $5 to $200 while at The Venetian it's $10 to $2000; but I'm more likely to see Golden Nugget at $5 to $50 limits outside of Vegas, with an up to $50K Straight Flush payout. It's unclear whether The Venetian would pay up to $10 million on a Royal Flush at maximum bets, or if they'd say you can only win $100K on the Royal, but you can win up to $800K on a 4 of a Kind.

Balance	Ante Bet	Max Bet	Full House win	4 of a Kind win
$2,000	$5	$50	$500	$2,000
$2,500	$10	$100	$1,000	$4,000
$3,500	$15	$150	$1,500	$6,000
$5,000	$20	$200	$2,000	$8,000
$7,000	$25	$250	$2,500	$10,000
$9,500	$30	$300	$3,000	$12,000
$12,500	$40	$400	$4,000	$16,000
$16,500	$60	$600	$6,000	$24,000
$22,500	$80	$800	$8,000	$32,000
$28,500	$100	$1,000	$10,000	$40,000
$38,500	$125	$1,250	$12,500	$50,000
$50,000				OVER THE TOP

$1 Million Progressive on Table Games

Just playing a little Mississippi Stud on the website and thinking if I bet $25 x 10 and win a Royal at 500:1, I'd be up $125,000. But then I read this about a new million dollar progressive jackpot for $5.
$1.1 million win at The Venetian Las Vegas

PAYOUT CHANGES TO MISSISSIPPI STUD - Payout limited to $50,000 - April 2018 https://wizardofvegas.com/forum/gambling/tables/30701-payout-changes-to-mississippi-stud/

AN 'OPENLY ADVERTISED,' SCAM (Maximum Aggregate Payout) - Posted by Mission146 - Oct 10, 2015 https://wizardofvegas.com/articles/Casino-MAPs/

2 or 3 session BJ parlay

I could buy-in at a $15 table for $500 and have 25 hands to lose and if I win 35 hands ahead, I could have $5,000+, with a 1 to 20 progression spread that increases every 5 hands ahead. I could come back the next time and buy-in at a $3000 max bet table with $5000 for 25 hands and if I win 35 hands ahead, I'd total $50,000+. If I could find a $30,000 max bet table, I could turn $50,000 into $500,000 on a 3rd trip. I'd likely only find a $10,000 max bet table so I'd turn $15K into $150K. After 3 winning sessions getting me to $150K, I could divvy that up into 300 x $500 sessions for 7500 hands of Blackjack after winning 55-105 hands to begin with.

Since I'm likely stuck with a $3000 table max in my area, I'd just win 2 sessions to get me to $50K then divvy that up into 100 x $500 sessions for 2500 hands of Blackjack and keep playing the $15 table until I win a session I can parlay in the high limit room.

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(1) The Player - Secrets Of A Vegas Whale Don Johnson - YouTube https://www.youtube.com/watch?time_continue=1&v=pUVibB3Hovo
DON JOHNSON - BLACKJACK STRATEGY https://wizardofvegas.com/forum/questions-and-answers/gambling/32995-don-johnson-blackjack-strategy/

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https://wizardofodds.com/ask-the-wizard/136/
Hands per Hour in Blackjack
Players___________Hands per hour
1___________________209
2___________________139
3___________________105
4____________________84
5____________________70
6____________________60
7____________________52

So if I play at a full table for 2 hours I can expect normal swings of -10 to +10 over 100 hands.
If I play alone at the high limit table, I can expect swings of -35 to +35 over 1225 hands in 6 hours.

How to win big at the casino!

How to win big at the casino!

Day 1: Win $1000
Day 2: Win $2000
Day 3: Win $4000
Day 4: Win $8000
Keep winning $8000 a day (no CTR's), or go bigger.
Day 5: Win $16K
Day 6: Win $32K
Day 7: Win $64K
Go to AC or LV for higher table maximums.
Day 8: Win $128K
Day 9: Win $256K
Keep winning $256K a day, or quit & pay your taxes.

Tax Withholding unless you show your ID & SS card or fill out a Form W-9

Tax Withholding unless you show your ID & SS card or fill out a Form W-9
(A completed and signed Form W-9 is acceptable as the non-photo form of identification.)

https://www.irs.gov/instructions/iw2g

https://wizardofvegas.com/forum/questions-and-answers/advice/31125-strange-request-at-cashier-for-w-9/9/

4. Poker Tournaments
File Form W-2G for each person to whom you pay more than $5,000 in winnings, reduced by the amount of the wager or buy-in, from each poker tournament you have sponsored. Winnings and losses of the participant from other poker tournaments you have sponsored during the year aren't taken into account in arriving at the $5,000 amount.

Withholding and backup withholding. If you file Form W-2G for the person to whom you pay more than $5,000 in net winnings from a poker tournament, and provide a copy of Form W-2G to such person, regular gambling withholding doesn't apply to the winnings. However, if the person who wins more than $5,000 doesn't provide a TIN, you must apply backup withholding to the full amount of the winnings from the tournament. The backup withholding rate is identical to the regular withholding rate of 24%. Net winnings of $5,000 or less aren't subject to reporting, withholding, or backup withholding.

Box 4
Enter zero as the amount, unless the winning person hasn't provided a TIN. If the winning person hasn't provided a TIN, enter the backup withholding amount.

Box 9
This is required information. Enter the TIN of the person receiving the winnings. For an individual this will be the social security number (SSN) or individual taxpayer identification number (ITIN). If the winner fails to give you a TIN, backup withholding applies. See Withholding and backup withholding,earlier.

Boxes 11 and 12
As verification of the name, address, and TIN of the person receiving the winnings, enter the identification numbers from two forms of identification. Acceptable forms of identification include a driver's license, social security card, or voter registration. Enter the number and the state or jurisdiction. In some instances, the number may be the same number as in box 9.

Boxes 13 Through 18
These boxes are provided for your convenience only and need not be completed for the IRS. See State Tax Information and Local Tax Information,earlier.

Box 13. Enter the abbreviated name of the state and your state identification number.
Box 14. Enter the amount of state winnings.
Box 15. Enter the amount of state income tax withheld.
Box 16. Enter the amount of local winnings.
Box 17. Enter the amount of local income tax withheld.
Box 18. Enter the name of your locality.

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3. Bingo, Keno, and Slot Machines
File Form W-2G for every person to whom you pay $1,200 or more in gambling winnings from bingo or slot machines, or $1,500 or more from keno after the price of the wager for the winning keno game is deducted. If the winnings aren't paid in cash, the FMV of the item won is considered the amount of the winnings. Total all winnings from all wagers made during a single bingo or keno game to determine whether the winnings are reportable. Winnings and losses from other wagering transactions aren't to be taken into account in arriving at the $1,200 or $1,500 figure.


Withholding
Regular gambling withholding doesn't apply to winnings from bingo, keno, or slot machines. However, if the recipient of reportable gambling winnings from bingo, keno, or slot machines doesn't provide a TIN, you must backup withhold. That is, if the winnings are at least $1,200 from bingo or slot machines or $1,500 from keno, backup withholding of 24% applies to the amount of the winnings reduced, at the option of the payer, by the amount wagered.

Boxes 11 and 12
As verification of the name, address, and TIN of the person receiving the winnings, enter the identification numbers from two forms of identification. Acceptable forms of identification include a driver's license, passport, social security card, military identification card, tribal member identification card issued by a federally recognized Indian tribe, voter registration card, or completed and unmodified Form W-9. Enter the number and the state or jurisdiction. In some instances, the number may be the same number as in box 9.

One of the two forms of identification that the recipient presents must include the recipient's photograph. Gaming establishments owned or licensed by a tribal government may waive the photo ID requirement for payees who are members of that federally recognized Indian tribe and present a tribal member identification card issued by the same tribal government.

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2. Sweepstakes, Wagering Pools, and Lotteries
File Form W-2G for each person to whom you pay $600 or more in gambling winnings from a sweepstakes, wagering pool, or lottery (including a state-conducted lottery) if the winnings are at least 300 times the amount of the wager. The wager must be subtracted from the total winnings to determine whether withholding is required and, at the option of the payer, to determine whether reporting is required. The wager must be subtracted at the time of the first payment.

The requirements in this section apply to church raffles, charity drawings, etc. In the case of one wager for multiple raffle tickets, such as five for $1, the wager is considered as $.20 for each ticket.


Withholding
You must withhold federal income tax from the winnings if the winnings minus the wager exceed $5,000. Withhold 24% of the proceeds (the winnings minus the wager). This is regular gambling withholding. If the winner of reportable gambling winnings doesn't provide a TIN, you must backup withhold on any such winnings that aren't subject to regular gambling withholding. that backup withholding rate is identical to the regular withholding rate of 24%. That is, backup withholding of 24% applies if the winnings are at least $600 but not more than $5,000 and are at least 300 times the wager. Figure backup withholding on the amount of the winnings reduced, at the option of the payer, by the amount wagered.

Installment payments of $5,000 or less are subject to regular gambling withholding if the total proceeds from the wager will exceed $5,000.

If payments are to be made for the life of a person (or for the lives of more than one person), and it is actuarially determined that the total proceeds from the wager are expected to exceed $5,000, such payments are subject to 24% regular gambling withholding. When a third party makes the payments, for example, an insurance company handling the winnings as an annuity, that third party must withhold.


When Paid
A payment of winnings is considered made when it is paid, either actually or constructively, to the winner. Winnings are constructively paid when they are credited to or set apart for that person without any substantial limitation or restriction on the time, manner, or condition of payment. However, if not later than 60 days after the winner becomes entitled to the prize, the winner chooses the option of a lump sum or an annuity payable over at least 10 years, the payment of winnings is considered made when actually paid. If the winner chooses an annuity, file Form W-2G each year to report the annuity paid during that year.

Box 4
Enter any federal income tax withheld, whether regular gambling withholding or backup withholding.

Boxes 11 and 12
Except for winnings from state lotteries, as verification of the name, address, and TIN of the person receiving the winnings, enter the identification numbers from two forms of identification. Acceptable forms of identification include a driver's license, passport, social security card, military identification card, tribal member identification card issued by a federally recognized Indian tribe, voter registration card, or completed and unmodified Form W-9. Enter the number and the state or jurisdiction. In some instances, the number may be the same number as in box 9.

One of the two forms of identification that the recipient presents must include the recipient's photograph. Gaming establishments owned or licensed by a tribal government may waive the photo ID requirement for payees who are members of that federally recognized Indian tribe and present a tribal member identification card issued by the same tribal government.