In today's Atlantic City Press, there is an article about the blackjack player who beat several Atlantic City casinos for over $15 million.
The player had a deal with the casinos that if he lost over $500,000 in one day, then he would receive a rebate equal to 20% of his losses. I am curious if anyone in these groups have been involved in such a deal and what kind of work paperwork was involved. Is this routine? I would not risk my money unless I had an iron-clad contract since we all know how "slimy" the casinos can be.
Second, has anyone ever done this for high stakes video poker? If the casinos are willing to do it for blackjack, why not video poker. (Bob Dancer ever tried this?)
Third, there is mention of the State of New Jersey coming after him to pay New Jersey income tax. A few people have mentioned receiving notice from the State of New Jersey for paying taxes on handpays and winnings in New Jersey but is this becoming more common in New Jersey?
http://www.pressofatlanticcity.com/news/press/casinos_tourism/big-blackjack-winner-says-rules-put-the-math-on-his/article_9e288fc2-aaaf-11e0-a486-001cc4c03286.html
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