[vpFREE] Proposed IRS Regulations

 

American Gaming Association Release

_______________________________

4 MAR 2015

Yesterday, the Internal Revenue Service (IRS) issued
proposed regulations and an official Notice updating the tax
information reporting rules for players' slot winnings (as
well as keno and bingo). Notably, the IRS is considering
future additional regulations that could aim to reduce the
respective reporting thresholds from $1,200 to $600 on
gaming winnings. This potential policy change could create
additional burdensome and unnecessary reporting requirements
for our industry.

The official Notice:

http://www.irs.gov/pub/irs-drop/n-15-21.pdf

IRS Proposal's Impact on Gaming

The IRS's proposed regulations currently do not alter
commercial casinos' reporting thresholds from the existing
levels for winnings from keno, bingo and slot machine play
(other than electronically tracked slot machine play).
However, the IRS may consider future additional regulations
that could reduce the reporting thresholds. The IRS will be
accepting public comments over the next 90 days regarding
current threshold levels, and considering whether amounts
should be uniform for bingo, keno and slot machine play. The
AGA Tax Working Group, comprised of senior tax
representatives from AGA member companies, will submit
comments to the IRS on behalf of the industry.

The official IRS documents:

https://www.federalregister.gov/articles/2015/03/04/2015-04437/information-returns-winnings-from-bingo-keno-and-slot-machines

or

http://goo.gl/5jmqJf

AGA's Summary:

https://gallery.mailchimp.com/03373c05c46b5e9a6eb445537/files/AGASummary_IRS_Notice_03_04_15.pdf

or

http://goo.gl/7H8Qbf

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Posted by: vpFREE3355 <vpfree3355@gmail.com>
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RE: [vpFREE] Ultimate X Bankroll/Loss

 

You don't mention what strategy you are using. The Wizard of Odds site give a decent strategy for the Ten Play version of this game. Using it on Triple Play costs you a bit. Using regular JoB strategy costs you quite a bit more. There are LOTS of strategy deviations from regular JoB to JoB Ultimate X. Not making the correct strategic plays means your bankroll will go that much faster.

Bob



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Re: [vpFREE] Tuscany Multiplier Change from February

 

The multi-line 8/5 BP machines at the Tuscany have stickers saying
they are excluded from 7x points. They do get the lower multipliers
like 6x, 5x, etc.

From: Queen of Comps

> The day to earn 5x points on ALL machines has changed from Sunday
> to Wednesdays in March. (according to our mailer, Scot)

> A question: Does this mean you can get the 5x on the bank of machines
> that offer multi-line 8/5 Bonus?

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[vpFREE] Scot Krause's LVA Players Club Bonus Points Update - 4 MAR 2015

 

Scot Krause's LVA Players Club Bonus Points Update - 4 MAR 2015

http://www.lasvegasadvisor.com/greatdeals-slotpromotions.cfm

*************************************************
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: Ultimate X Bankroll/Loss

 

it's the variance that's getting to you ahduff. On 3 play 25 cent UX you're betting $7.50 on each original hand. That's like playing $1.50 single line. In addition it's much riskier with the positive co-variance between hands and the multipliers that constantly appear. Also for you to win in a session of reasonable length you probably need 2 of these 3 factors: 1)dealt original pat hands. 2)Lots of multipliers. 3)Royal(s). If these factors above are not happening for you, you are getting crushed.

Sent from my iPhone

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[vpFREE] Re: Ultimate X Bankroll/Loss

 

> I have been playing 8/6 JOB Ult-X .25 Triple Play. My bankroll has been $500 - $1000 and I go broke EVERY TIME.

Isn't it a negative game? 99.2978%. Isn't it more a question of how many hands you (could) play before going broke, based on a given bankroll?

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

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[vpFREE] Ultimate X Bankroll/Loss

 

I have been playing 8/6 JOB Ult-X .25 Triple Play.

My bankroll has been $500 - $1000 and I go broke EVERY TIME.

I know I am over my head, but my question is just how much?

What is a realistic range of loss per hour for this game?

What would be a recommended bankroll?

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

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RE: [vpFREE] Re: Daily point multipliers at Sam's Town?

 

This has also been mentioned here a couple of days ago.

131421IRS Proposes Definition of "Session"

.....bl


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RE: [vpFREE] Re: Daily point multipliers at Sam's Town?

 

Here's the info they sent me today:

"Sam's Town is running a Tuesday promotion this month, with all of the usual Young@Heart promotions that occur on Wednesday, available to ALL B Connected guests (regardless of age) on Tuesdays in March."

From: vpFREE@yahoogroups.com [mailto:vpFREE@yahoogroups.com]
Sent: Wednesday, March 04, 2015 3:02 AM
To: vpFREE@yahoogroups.com
Subject: RE: [vpFREE] Re: Daily point multipliers at Sam's Town?

> That sounds misleading. Is it for EVERYONE? Or everyone who is "young at heart??"

Looking at Sam's Town, it seems as if some Tuesday's in March the multipliers are for "everybody", but on Wednesday's just for "seniors". (Or, so how I am now reading it.) The Wednesday "senior" multipliers seem to be at all 4 Boyd properties in LV.

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Posted by: "Scot Krause" <krauseinvegas@cox.net>
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[vpFREE] Ellis Island adds insult to injury

 

On 3/3 both the Cafe and the Barbecue Restaurant raised their prices on most items. The steak at cafe stayed the same at $8.99 I believe. Still cannot figure out their new system for free play. Suffice it to say it sucks.

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[vpFREE] Questions about Ellis Island

I have been out of town and haven't had time to check out the new EI slot club system yet. But it seems to be very strange and unlike any we are used to. Do you still accumulate points as you play but they can not be redeemed for a known amount – for example, as it used to be there: $1 Coin-In = 1 Point - Cashback or Free Play: 1000 Points = $1 (0.1%). But "rewards" will "pop up" during your play? Based on some system known only to the casino, depending on machine theo and perhaps other factors like actual win/loss amounts, time played, the color of your hair?

Bounce-back based on multiple factors is quite common – EI was a rare example in the past by offering BB based strictly on coin-in. I can see that they might want to change that. But to have no set schedule for your point redemption seems very extreme and very player unfriendly. Many casino vary point worth by distinguishing between slots and VP, or by "stickering" machines with the better games and clearly showing the reduced value of the points. But it seems EI has gone to a super-secret system.

Anyone have more insight or additional information into this?


------------------------------------------
Jean $¢ott, Frugal Gambler
http://queenofcomps.com/
http://jscott.lvablog.com/
UPDATED TAX BOOK
(Download 2015 eBook now)

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[vpFREE] New IRS Safe Harbor Proposal For Reporting Gains and Losses

 



The IRS has a new proposal for reporting gains and losses
called the 'Safe Harbor Method'. While it appears very
similar to the session method it does contain the following
clause which seems to indicate that they are considering
including comps as income.

(5) whether the safe harbor should include payouts in the
form of merchandise and bonus rewards.

If anyone would like a link to the new proposed IRS reg
please send me a private e-mail or I can send it to the
administrator is she would like to post it.

Joel

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[vpFREE] Re: Carry Money to LV

 

We bank with Bank of America here at home, they have several branches ( one is downtown) in Vegas. We now only take enough for a day or two then hit the bank for the rest while we are out there. The first time we did it I was concerned that withdrawing the amount we did may be harder (it seems to be in our local small branch back home), but they don't blink an eye. They treated it as if I was withdrawing $500, it was zero issue for them in Vegas for an amount I have to call ahead for at our local branch back home.

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RE: [vpFREE] Re: Daily point multipliers at Sam's Town?

 

> That sounds misleading. Is it for EVERYONE? Or everyone who is "young at heart??"


Looking at Sam's Town, it seems as if some Tuesday's in March the multipliers are for "everybody", but on Wednesday's just for "seniors". (Or, so how I am now reading it.) The Wednesday "senior" multipliers seem to be at all 4 Boyd properties in LV.

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

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