just wondering. on those ticket out machines,do the attendants come to
give you a w2 form when you win a large amount when you cash out?
w2's
beaverjoe277 wrote:
just wondering. on those ticket out machines,do the attendants come to
give you a w2 form when you win a large amount when you cash out?
Reporting of wins only applies to the total payout from a single wager
(including your total win on all lines of a single multi-line machine).
Cashout of credits of $1200+ are not reportable. In fact, more often
than not, a ticket machine will just spit out a ticket for a cashout
of up to $5000 (or $10K in some cases) ... no attendent handpay necessary.
However, where machines have been improperly set and they still "ring"
for a manual cashout of anything $1200+, lesser experienced personnel
have been heard to try and issue a W2-G (I've heard one recent story
to this effect at Borgata). This is rare though. In any case, a W2-G
isn't appropriate on any credit cashout.
- Harry
Here is a funny one...
Our last trip to LVH just earlier this month...
I hit a 4-deuces on one of the $1 NSUD in the SportsBook ($1,000).
The machine locked up and I was had to wait a long time (it was 6:30
am) before someone "noticed" the lock-up and brought a "hand-pay".
All the machines are TITO. I was a bit annoyed at the wait and,
when I asked why the lock-up and the hand-pay, I was told that the
progressive (on one of the other games, same machine) required a W-2
to be issued (if hit). I asked what thay meant, since I only hit a
4-deuces and was told they "did not know" why theu had to do a hand
pay! They just do it.
LOL.
Also, they gave me all $100's and seemed not to be expecting a tip.
BL
--- In vpFREE@yahoogroups.com, "Harry Porter" <harry.porter@v...>
wrote:
beaverjoe277 wrote:
> just wondering. on those ticket out machines,do the attendants
come to
> give you a w2 form when you win a large amount when you cash out?
Reporting of wins only applies to the total payout from a single
wager
(including your total win on all lines of a single multi-line
machine).
Cashout of credits of $1200+ are not reportable. In fact, more
often
than not, a ticket machine will just spit out a ticket for a
cashout
of up to $5000 (or $10K in some cases) ... no attendent handpay
necessary.
However, where machines have been improperly set and they
still "ring"
for a manual cashout of anything $1200+, lesser experienced
personnel
have been heard to try and issue a W2-G (I've heard one recent
story
to this effect at Borgata). This is rare though. In any case, a
W2-G
···
isn't appropriate on any credit cashout.
- Harry
Whether the machine is TITO or not when you earn a W2-G the machine
will lock up. You will get a hand-pay for the amount of the win and
the machine will then deduct the credits from your total as it
unlocks. Some casinos set the handpay threshold lower. I believe the
thinking behind this is either to let surrounding patrons see a
winner or to help the floor staff get tips.
···
At 01:29 AM 8/29/2005, you wrote:
just wondering. on those ticket out machines,do the attendants come to
give you a w2 form when you win a large amount when you cash out?vpFREE Links: http://members.cox.net/vpfree/Links.htm
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[Non-text portions of this message have been removed]
Recently I was playing on a 50play .05/.10/.20/.25 game and playing
Super Aces, I hit something that was like $250 and it locked up the
machine, I moved over and started playing another machine and got Aces
for $500 and it locked up, I was quite irratated and complained about
the low level lockups and got very lame answers including that the
gaming commision would have to approve a change in the lockup set
point. I kept escalating it till I got to the floor supervisor and
told him how ridiculous it was and he saw the light and had all 4 of
the 50plays changed right then, I think it was only to $750, but at
least it was higher than $500, so it helped me out. Sometimes
persistance does pay off.
Jim
···
--- In vpFREE@yahoogroups.com, Bill Coleman <vphobby2@c...> wrote:
Whether the machine is TITO or not when you earn a W2-G the machine
will lock up. You will get a hand-pay for the amount of the win and
the machine will then deduct the credits from your total as it
unlocks. Some casinos set the handpay threshold lower. I believe the
thinking behind this is either to let surrounding patrons see a
winner or to help the floor staff get tips.