[vpFREE] Re: LVRJ: Casinos call IRS winnings reporting proposal unworkable

 

Right now, a lot of slots hit frequent jackpots just below $1200, for obvious reasons, with the rare big hit well over $1200. If the IRS guideline goes through, the machines will have to be changed to hit frequent jackpots just below $600 with rare big hits well over to avoid having a paperwork log jam. They might try to automate something with the card readers, but that would be another problem as card readers are notoriously defective. For example, quarter 5coin video poker is popular, but in the future the paytable may have to be changed so the royal only pays 400 bets instead of 800 and the quad can be moved from 25 to 30 to compensate, so 9-6 jacks would become 400-50-30-9-6-4-3-2-1. Of course casinos are likely to just leave it at 400-50-25-9-6-4-3-2-1 and wonder why hardly anybody plays. Much of the video poker play is moving to nickels anyway which doesn't have this problem. But the penny slots would have to be redesigned to get most jackpots below $600.

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Posted by: nightoftheiguana2000@yahoo.com
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