The change in the pay table to proposed 400-50-30-9-6-4-3-2-1 would change the return rate for a non-royal hit to 99%, where currently with 4000-50-25-9-6-4-3-2-1 a non-royal return rate is 97.9% No casino will do that. If anything they will do 400-50-25-9-6-4-3-2-1 with a 98% return. People will still play video poker even with that return, just as people happily play 25 cent 9/5 JOB 98.45% return at Caesars Palace.
http://wizardofodds.com/games/video-poker/analyzer/
The dollar and up video poker will most likely vanish except in the high limits room because this would require reporting on every 4-K hit. Casinos with staff on hand can manage this, other casinos with limited staff would simply pull the dollar machines.
To implement any sort of IRS reporting in a players club card is unworkable. This would require that only players who have a card, and it is inserted in the machine can play, and there is no realistic means to identify that the players card belongs to that player. The cost and logistics of this would be unreasonable.
People who make a living from gambling, and live under the detection IRS radar, more than likely will on to other ventures and High Rollers will more then likely gamble in Macau where they won't get eaten alive by taxes.
Any way you slice and dice the $600 and over reporting issue, the big loser is Las Vegas.
Posted by: mvetanen@rocketmail.com
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