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Post your slot wins and discuss your favorite slot machines, point out which casino you can find them in, and anything else you can think of related to slots.
Yes, you need the SSN and the win must be less than 5k or maybe 4k. I'm not sure which.
I've had taxable jackpots between $1500 and a little over $82k, and the choice to withhold anything has always been mine. I'm not seeing where the 28% or 30% comes from though. The attendants have always told me it would be 20% period.
Getting a lot of taxables is fun, but even if you deduct losses totalling everything that you claimed to have won, it screws up your AGI in many cases. That's been my constant headache, because I am not a professional gambler and have never filed as such.
I've had taxable jackpots between $1500 and a little over $82k, and the choice to withhold anything has always been mine. I'm not seeing where the 28% or 30% comes from though. The attendants have always told me it would be 20% period.
Getting a lot of taxables is fun, but even if you deduct losses totalling everything that you claimed to have won, it screws up your AGI in many cases. That's been my constant headache, because I am not a professional gambler and have never filed as such.
In Illinois anything $1,200 and over on any video machine, poker or slots, requires a hand pay and any hand pay they will ask if you want taxes out. I believe on table games it is if you win over a certain amount of money on one bet or a certain % more, any win of 200 to 1 or greater will be considered taxable. As for the tax percentages, I am clueless on that, nor will I claim to know anything about it. I say take taxes out and they take out what they take out. Earlier someone stated that if no SSN is given that it is 28%, but this might vary state to state or even casino to casino because I gave them my SSN but 28% was still taken out. If I do ask for taxes to be taken out I always request Federal and State. This is my first year of gambling to any amount that would show up on my taxes, but every year prior I have always owed money to the state, so I always request that be taken out as well.
Congratulations on the win, Trancend! I believe you and I hope this doesn't turn into a debate on your honesty.
I just picked up a copy of 'Tax Help for Gamblers' by Jean Scott and Marissa Chien for $2 at the Huntington Press office in Las Vegas.
I hope it has some useful, up to date info. I have $12,000 in W-2G's for this year. (Not nearly as much as some, but it's going to significantly affect my AGI this year).
I found the book very useful, although I skipped over most of the W-2G stuff since I only play table games. Nice find at $2! I paid $25 on Amazon :/.
Getting a lot of taxables is fun, but even if you deduct losses totalling everything that you claimed to have won, it screws up your AGI in many cases. That's been my constant headache, because I am not a professional gambler and have never filed as such.
Gambling a lot as a non-pro will jack up your AGI, which sucks for Roth contribution income limits (and some other stuff). Even if you barely win or have a losing year! It's really a pain in the ass. Last year I had $24K in winnings and $17K in losses. Bleh. I wish they'd be more reasonable and just let you put down your net on the front of the 1040, would really be a lot easier.
Administrator
I'm sure the casinos have some leeway on their withholding. I'm still puzzled about the removal of the machine but casinos most likely have their own policies on that as well. A woman hit a slot for 800k at Mohegan Sun a few weeks ago and they practically dismantled the machine. It was up and running about six hours later.
Congratulations on the win, Trancend! I believe you and I hope this doesn't turn into a debate on your honesty.
+1
I'm sure the casinos have some leeway on their withholding. I'm still puzzled about the removal of the machine but casinos most likely have their own policies on that as well. A woman hit a slot for 800k at Mohegan Sun a few weeks ago and they practically dismantled the machine. It was up and running about six hours later.
Congratulations on the win, Trancend! I believe you and I hope this doesn't turn into a debate on your honesty.
He told me they took it off the floor, so they may have put it back out, I will most certainly look for it next time I am there, but I am just going by what the guy told me. I have no reason to not believe him, he was a really nice guy, even gave me a great comp for a win on a slot, which had never happened to me before.
Yes, you need the SSN and the win must be less than 5k or maybe 4k. I'm not sure which.
Probably 5K, then, I opted out of one with a win just over 4k.
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The Lobstermania 3 slot machine by IGT is yet another entry into the 'Lobstermania' franchise. This one adds new bonuses such as the 'Big Wheel Bonus' which is initiated by getting 3 or more wheel symbols in any position on consecutive reels: you win a number of wheel spins corresponding to the number of wheel symbols that initiated the bonus. 3 Bonus symbols will get you 1 spin: 4 will get you 2, and 5 will get you 3! The wheel contains credit awards, extra spins, and even other bonuses. Lobstermania 3 also features the 'Buoy Bonus Pick' bonus which is triggered by filling reels 2, 3, and 4 completely with bonus symbols at which point you can choose either the 'Buoy Bonus Classic' or 'Buoy Bonus Free Games'. The classic version first requires you to make a pick to reveal either 2, 3, or 4 buoy picks. For each buoy selected, 2 to 4 items are pulled from the lobster trap where each item awards a value of 10 to 1000 credits times the bet multiplier. Doing the math, for a $2.50 bet, theoretically the best you can do would be an $800 win, which I don't even believe is even possible, though, as it assumes top awards for all picks. The buoy free games bonus is actually somewhat complicated, so we may just have to save that for another time, Enjoy!
Jennifer Goodwin
I don't really go looking for your old games, but sometimes I run into them anyway. Tonight I was needing to check Lucky Larry Lobstermanis 3 to see if it was a clone of Bora Bora Breeze which Shamus was showing. (It is.) I'd never seen the Bora Bora game and it'd been years since I played any Lobster Larry except the oldest one. Saw your thumbnail and knew this was the game I should watch. I must not have been a faithful viewer in 2016 since I don't see any comments from me. Glad your video was still on youtube. They are always great.
Fong Her
Wow nice win! I am always curious, do you have to deposit big buck to win big bonuses?
Dixie Chick Slots
Yeah the other bonus is so much more fun though
Diana Kenda
YOU CHEATED, STARTED AT 50 THEN SCREENWENT BLURRY AND YOU WERE ON 250
Allnighter17 Slots
Slot Wins As It Happens You Play
Nice Bonus, those were some huge lobsters! Congrats!
URComped
Congrats on the amazing video! You are featured on our Top Videos of the Week!
Carter
1:18 that lobsters as big as the dam boat jaha good pick
Manny's Slot Machine Channel
Great bonus for sure t.y for sharing.
aolson72178
those big lobsters are sweet should be worth way more lol nice hit
Kristy Duncan
Why's it so big? Keep go in' Larry! Awesome fun.
Dr. Nick's Slot Hits
That was a very nice win! Haven't played this game that much, but I really like the classic Lobstermania haha. Congrats!
Sam Sguanch
For halloween you should dress up as Zoidberg and play this game non-stop.
EmanRocknSlots
Good bonus! Don't have any of these at my local casinos but when I was travelling recently, I liked the ones that had progressives versus the ones without, more of a incentive in my opinion.
Slot Traveler
How To Win On Slot Machines
I am not sure what the appeal is to this game, lol! It's hard to get 100X, but I guess small wins keeps us going. Nice win!
Gabriel Brothers
im curious do you ever have losses if so how often?
Meraida Fermin
Big Payback!
That was awesome! I was so excited that you touch the spin button and got the bonus. Congrats on that move. Oh, I forgot one thing; you did the (1) backup spin. Hahaha.... 😎 ðŸ‘x90
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