[vpFREE] Re: New Machines..Repost

 

Sai Sai makes some valid points but I think it is important to expand upon his/her statements. All video poker machines are purchased by the casino including the software. On non single line games, there is a daily fee the casino must pay per each machine which goes to IGT. In turn, IGT has to give a percentage to the inventor and patent owner of the Triple Play Software model.

On all other leased/participation product, the manufacturer supplies the casino with the actual game cabinet, hardware and signage, whether pennies, quarters or dollars. In turn, the casino will pay either a percentage of the daily win on each machine or a flat daily rental fee (depending on jurisdiction).

As a former Slot Director, Wheel of Fortune is a huge money maker for the casinos, even after having to give a percentage of the win back to the manufacturer. The percentage that has to be given back is not large and its attractiveness value still exists many many years after its introduction.

--- In vpFREE@yahoogroups.com, "Sai Sai" <gofastnismo@...> wrote:
>
> Most VP machines are bought and they are not cheap, 10k-25k each depending on the model. IGT loans machines on a trial basis (VP and slot)if its new game they're trying to push. Many of the penny slot progressive(for example - Jackpot Deluxe) machines are leased while the large area progressive machine jackpots are paid by IGT and the casino only gets a small cut of the take. Wheel of Fortune is the most popular slot out there but its not really a money maker for the casino.
>
> --- In vpFREE@yahoogroups.com, BANDSTAND54@ wrote:
> >
> >
> > Greetings
> >
> >
> >
> > Why do some casinos like the Borgata have the latest VP machines and Harrah's Resorts both in AC have dinosaurs? Are they bought rented or loaned?
> >
> >
> >
> >
> > Happy Easter
> >
> >
> > Ralph Gary
> >
> >
> > [Non-text portions of this message have been removed]
> >
>

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[vpFREE] Re: New Machines..Repost

 

Most VP machines are bought and they are not cheap, 10k-25k each depending on the model. IGT loans machines on a trial basis (VP and slot)if its new game they're trying to push. Many of the penny slot progressive(for example - Jackpot Deluxe) machines are leased while the large area progressive machine jackpots are paid by IGT and the casino only gets a small cut of the take. Wheel of Fortune is the most popular slot out there but its not really a money maker for the casino.

--- In vpFREE@yahoogroups.com, BANDSTAND54@... wrote:
>
>
> Greetings
>
>
>
> Why do some casinos like the Borgata have the latest VP machines and Harrah's Resorts both in AC have dinosaurs? Are they bought rented or loaned?
>
>
>
>
> Happy Easter
>
>
> Ralph Gary
>
>
> [Non-text portions of this message have been removed]
>

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[vpFREE] LVA Question of the Day - 25 APR 2011

 

LVA Question of the Day - 25 APR 2011

Q: Is Phyllis McGuire still alive and what has happened
in her life since she quit singing with her sisters?

Read the answer here:

http://www.lasvegasadvisor.com/qod.cfm

<a href="http://www.lasvegasadvisor.com/qod.cfm">
http://www.lasvegasadvisor.com/qod.cfm</a>

NOTE: vpFREE access to the Question of the Day link has
been approved by LVA and expires after the current day
for non-LVA members.

*************************************************
This link is posted for informational purposes
and doesn't constitute an endorsement or approval
of the linked article's content by vpFREE. Any
discussion of the article must be done in
accordance with vpFREE's rules and policies.
*************************************************

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Re: [vpFREE] [acvpp] Re: REPORTING GAMING ON INCOME TAX

 

Thank you but I just bought a Macbook Pro and i got my hands full. Great laptop.

Ralph Gary

-----Original Message-----
From: sandcroftalan <awalstad@sandcroft.net>
To: vpFREE@yahoogroups.com
Sent: Mon, Apr 25, 2011 12:57 am
Subject: [vpFREE] [acvpp] Re: REPORTING GAMING ON INCOME TAX

Greetings Ralph,

Congratulations on your W-2G win last year! If you have an iPhone and would like help tracking your future wins and losses in case of a potential audit, you can test drive our app for free:

http://itunes.apple.com/us/app/winloss-slot-players-diary/id408765252?mt=8&ls=1

You can also visit our website directly at http://www.sandcroft.net

Best Regards,
Alan

--- In vpFREE@yahoogroups.com, BANDSTAND54@... wrote:
>
> A former IRS person posted on this forum why it happened. I used TurboTax which checks for errors. I mailed them a 25 dollar check. It was not the money that bothered me. I go thru 25 dollars in the blink of an eye at the casino. IT WAS THE PRINCIPLE.
>
>
> Thanks
>
>
> Ralph Gary
>
>
>
>
>
> -----Original Message-----
> From: kcace1024 <cy4873@...>
> To: vpFREE@yahoogroups.com
> Sent: Sat, Apr 23, 2011 12:49 am
> Subject: [vpFREE] [acvpp] Re: REPORTING GAMING ON INCOME TAX
>
>
>
>
>
> Ralph,
>
> Your $2000 W-2G should reduce your refund by $500 or $300 not $25 if you are in the 25% or 15% bracket. If you itemize and you lost money on VP your refund should not change. The only way your refund should be $25 less is if your itemized deductions before gambling losses were just about $1900 less than the standard deduction threshold. That seems unlikely, so perhaps you made a mistake on your amended return.
>
> It is nice to see you and other gamblers paying income tax on a hobby that is costing you money. You should become a hedge fund manager like Mr Paulson who made several billion on the housing collapse and several billion again on gold without paying any taxes.
>
> "Taxes are for the little people" Leona Helmsley
>
> Good Luck,
>
> Chris
>
> --- In vpFREE@yahoogroups.com, BANDSTAND54@ wrote:
> >
> > I filed an amended today, both Fed and State. I included a check even though I am getting a refund. My winnings is zero. however my refund was reduced by 25 dollars which I should get shortly. Thank goodness i only had one form from the casino. What a pain in the ass.
> >
> >
> > Ralph Gary
> >
> >
> >
> >
> >
> > -----Original Message-----
> > From: fatfish643 <fatfish643@>
> > To: acvpp@yahoogroups.com
> > Sent: Wed, Apr 20, 2011 6:22 am
> > Subject: [acvpp] Re: REPORTING GAMING ON INCOME TAX
> >
> >
> >
> >
> >
> >
> > Hey GRUMP do you feel lucky. fugget it. Really ;the computers do the review, any W-2 not shown will eventually be caught. Plus send an amended form immediately, because it may take YEARS before they catch the mistake. Then you'll owe PENTALTIES & INTEREST. Definitely not cheap. Ask my wife.
> >
> > --- In acvpp@yahoogroups.com, BANDSTAND54@ wrote:
> > >
> > >
> > > Greetings
> > >
> > >
> > >
> > > I recently did my taxes on TurboTax. i used the premier version which is quite inclusive. I do not remember being prompted for my gambling W/L totals.although I had a loosing year by a wide margin Do you think they will audit me anyhow? . I did have one 2000 dollar hit.
> > >
> > >
> > >
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> > >
> > > [Non-text portions of this message have been removed]
> > >
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> > [Non-text portions of this message have been removed]
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> [Non-text portions of this message have been removed]
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[vpFREE] Re: $2,478.25 royal on .25 progresives!!!!!!!!!!

 

--- In vpFREE@yahoogroups.com, "mklpryy24" <mklpryy24@...> wrote:
>
>
> ROFLMAO
>
> wow your are so ignorant
>

This is a rather bizarre response, Mklpryy24. First of all, you waited almost two weeks to look back at this thread you started. Not that there's anything wrong with that. It's just weird!

No need to be rude to Frank, by the way. Sure, he has some issues, but we like him anyway. This board was getting pretty dull before Frank came along. Having Frank join us was a BIG plus! So be nice.

By the way, I sent you a personal message asking you about this jackpot you hit, because I thought I knew where it was and wanted to ask you some questions on the side. I never got a reply. It would be nice to hear from you. Don't make me beg.

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