Re: [vpFREE] Re: FSP strategy ideas

 

Harry, I don't collect SS so I haven't any knowledge how that's affected by W2g's yet. But, anyone who likes money likes $1200 & above winners, and I certainly welcome as many of those as I can get.

Are you saying that there comes a point where winning that much might cost the player more than the jackpot's worth in tax liability?

----- Reply message -----
From: "vp_wiz" <harry.porter@verizon.net>
To: <vpFREE@yahoogroups.com>
Subject: [vpFREE] Re: FSP strategy ideas
Date: Mon, Jan 23, 2012 10:17 am
the7thwarrior wrote:

>

> When those w-2g's start effecting your Social Security income they no longer represent real profit. If your AGI is too high you start losing benefits. This is usually only the case for those collecting those benefits. Otherwise it only effects your deductions on Schedule A.

> Sure you get to write off gambling losses against winnings, so for

> the younger crowd it is not an issue.

This only begins to describe the tip of the iceberg. There are a wide range of exemptions, deductions, credits and other tax related items that are reduced/limited by Adjusted Gross Income above specified caps (AGI = essentially, income before deductions).

Reported W-2G income serves to inflate AGI without the benefit of offsetting loss deductions, with a consequence to many that they end up paying more tax when gaming activity is accounted for, even in absence of a net win.

Fortunately, a good number of such AGI limitations lapsed from the tax code with 2009. But enough remain that it's something about which any prudent player should remain circumspect.

[Non-text portions of this message have been removed]

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[vpFREE] Palms Loss Rebate for New Sign-Ups

 

The Palms Casino just announced that they now have a loss rebate for new sign-ups.

Clark County residents are excluded. There are ten levels from $50 to $500. Rebates are awarded in three installments.

Complete rules:

http://www.palms.com/wp-content/uploads/2012/01/CP-Rebate-11x17-Rules-Poster.pdf

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[vpFREE] Re: FSP strategy ideas

 

the question here is an interesting one, and REALLY you have to look at your underlying intent.  if you're trying to maximize your return on the $100 in the purely theoretical math world, you want to:

1. pick the machine with the highest theoretical payback.

2. play that machine at the lowest possible denominations that will give you that play table.

however, if you want to just have the highest theoretical possible return, you should throw that idea out the window and play for the biggest fricken return you can get.  think: megabucks slots.  (you may also get the added benefit of having your card points treated more kindly because you're not always playing VP.)

some casinos still use play-til-you-lose chips on table games (the golden gate downtown has these).  the rule with those is you MUST use them on even money bets only ... and that's a big hint to you that you may well want to consider using casino money in cases where you are getting odds.

one way to look at it  is to think that this is "free" money that they casino is offering you to win real money.  if that's true, then you might want to go out and take a swing at the biggest possible money you can get.  who cares if the return is zero?  you know that there's a non-zero chance you'll be a multi-millionaire.

and, of course, there's mixes of this.  play half for return, half for the grand slam.

i play for compromise of sorts ... when i get free play, i always play the highest possible denominations of the best possible return tables.  so in a case like yours, i'd either feed $25 more into a machine and play a single spin of a $25 credit highest-returning VP machine ... or take four spins on the $5 machine.

don't be fooled by math types telling you there's a right and wrong answer here -- there's an entire psychological/thrill/POSSIBLE-return component that has nothing to do with theoretical return ... and my applied math degree won't tell you what that is ... but your gut will.

[Non-text portions of this message have been removed]

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[vpFREE] LVA Question of the Day - 23 JAN 2012

 

LVA Question of the Day - 23 JAN 2012

Q: One morning last week during a stay at the Wynn, my wife
went jogging while I went for a walk. She ran around the
outside of the Wynn property including the golf course three
times. I walked from the Wynn down to Mandalay Bay and back.
She, of course, went faster but who went farther?

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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[vpFREE] Re: Question on Dream Card VP

 



--- In vpFREE@yahoogroups.com, savorvpx <savorvpx@...> wrote:
>
> --- In vpFREE@yahoogroups.com, "tomflush" <tomflush@> wrote:
> >
> > The highest  Dream card machines that I've seen in Nevada are the 8/5 bonus poker ( 99.3 ), which are  at  Orleans and some Stations. Does anybody know better ?
>
> Try Atlantis Reno.
>
Where are they at Atlantis? I have looked but never found them.

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[vpFREE] Re: FSP strategy ideas

 

the7thwarrior wrote:
>
> When those w-2g's start effecting your Social Security income they no longer represent real profit. If your AGI is too high you start losing benefits. This is usually only the case for those collecting those benefits. Otherwise it only effects your deductions on Schedule A.
> Sure you get to write off gambling losses against winnings, so for
> the younger crowd it is not an issue.

This only begins to describe the tip of the iceberg. There are a wide range of exemptions, deductions, credits and other tax related items that are reduced/limited by Adjusted Gross Income above specified caps (AGI = essentially, income before deductions).

Reported W-2G income serves to inflate AGI without the benefit of offsetting loss deductions, with a consequence to many that they end up paying more tax when gaming activity is accounted for, even in absence of a net win.

Fortunately, a good number of such AGI limitations lapsed from the tax code with 2009. But enough remain that it's something about which any prudent player should remain circumspect.

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[vpFREE] Re: FSP strategy ideas

 

When those w-2g's start effecting your Social Security income they no longer represent real profit. If your AGI is too high you start losing benefits. This is usually only the case for those collecting those benefits. Otherwise it only effects your deductions on Schedule A.
Sure you get to write off gambling losses against winnings, so for the younger crowd it is not an issue.

--- In vpFREE@yahoogroups.com, "rob.singer1111@yahoo.com" <rob.singer1111@...> wrote:
>
> Why don't they represent profit? I' ve always tried to collect as many W2g's as I could get my hands on. How they affect AGI should never become a factor if a player is going to play to win. And like our friends at GE have discovered, "creative accounting" is a means to a very meaningful end.
>
> Sent from my Verizon Wireless 4GLTE smartphone
>
> ----- Reply message -----
> From: "vp_wiz" <harry.porter@...>
> To: <vpFREE@yahoogroups.com>
> Subject: [vpFREE] Re: FSP strategy ideas
> Date: Sun, Jan 22, 2012 11:26 pm
> Cardfather wrote:
>
>
>
> > HUH? Just me being me......I would happily pay the taxes on $5 & up royals EVERY DAY OF MY LIFE.
>
> > BUT, that's just me. :)
>
>
>
> Assume the concern isn't with RF w-2G's, but with those issued on lower level hits (SF's, multiline quads, etc). They don't represent profit, but serve to inflate AGI and can reduce legitimate deductions via phase-outs, etc.
>
>
>
> - H.
>
>
>
>
>
>
>
>
>
>
>
> [Non-text portions of this message have been removed]
>

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Re: [vpFREE] Re: FSP strategy ideas

 

Why don't they represent profit? I' ve always tried to collect as many W2g's as I could get my hands on. How they affect AGI should never become a factor if a player is going to play to win. And like our friends at GE have discovered, "creative accounting" is a means to a very meaningful end.

Sent from my Verizon Wireless 4GLTE smartphone

----- Reply message -----
From: "vp_wiz" <harry.porter@verizon.net>
To: <vpFREE@yahoogroups.com>
Subject: [vpFREE] Re: FSP strategy ideas
Date: Sun, Jan 22, 2012 11:26 pm
Cardfather wrote:

> HUH? Just me being me......I would happily pay the taxes on $5 & up royals EVERY DAY OF MY LIFE.

> BUT, that's just me. :)

Assume the concern isn't with RF w-2G's, but with those issued on lower level hits (SF's, multiline quads, etc). They don't represent profit, but serve to inflate AGI and can reduce legitimate deductions via phase-outs, etc.

- H.

[Non-text portions of this message have been removed]

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[vpFREE] Re: Stations' Multipliers

 

It has been my experience that Stations doesn't care much for vp players especially those that play only positive machines on extra point days. In the past they were great but now they limit the comps and perks to a minimum. I do know a SLOT player that is ahead $30k or so for last year that still gets generous multipliers, food and comps. If you work the system they will fight back. I mix my play enough to the point I still get decent offers and comps. Its a balancing act.

--- In vpFREE@yahoogroups.com, "pumsparky" <dianalnagy@...> wrote:
>
>
>
> --- In vpFREE@yahoogroups.com, "Correna H" <correna2@> wrote:
> >
> > This has not been my experience.
> >
>
> What offers have you gotten? More than the 6X (which is really 2X)
> Free Rooms? Food?
>

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[vpFREE] Re: Stations' Multipliers

 



--- In vpFREE@yahoogroups.com, "Correna H" <correna2@...> wrote:
>
> This has not been my experience.
>

What offers have you gotten? More than the 6X (which is really 2X)
Free Rooms? Food?

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[vpFREE] Re: New Radio Show (Need Name?)

 
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[vpFREE] Jokers Wild Inventory

 

<<<100.17% DB 1-1-3-5-7-10-50-80-160-50-800 DB (FP)
25¢ 1 Play TITO Slant 25c just inside to the right of the north entrance >>

Machine count is two. These machines still require $2 coin in per point as stickered.

continued <<(8) $1 1 Play TITO Slant $1 - location and game details are unknown >>

Updated count is two, located between main cage and restaurant. These machines are stickered to require $2 coin in per point but actually require $4 coin in per point which matches slot club brochure for 100%+ games.


<<99.54% JoB 1-2-3-4-6-9-25-50-800 JoB (FP)
$1 10 Play TITO Slant location and game details are unknown>>

Unlike my last visit, I could not locate these machines, so I am pretty sure they are MIA.


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