Re: [vpFREE] RE: -$600 Royal

 

I read the IRS proposal and I believe most posters do not understand the proposal. The IRS wants to use electronic tracking to determine if a W-2G is needed based on the session method. There would be fewer W-2Gs issued because it would take a single win of 1200 and a session win of 1200 to trigger the W-2G. Look at the examples provided.

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Posted by: cy4873@hotmail.com
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Re: [vpFREE] RE: -$600 Royal

 

Changing all those pay tables might cost more than filling out more
tax forms.

>For -$600 max pay out on 25c VP casinos can keep most games very close to
>current ER. For Jacks or Better they could use full coin schedule
>2399-557-125-45-30-20-15-10-5 = 99.54%.
>
>For NSUD full coin schedule 2399-1194-125-80-50-20-20-15-10-5 = 99.73%
>
>
>
>For $1 JB return could be 599-352-150-45-30-20-15-10-5 = 99.54%
>

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Posted by: 007 <007@embarqmail.com>
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[vpFREE] RE: -$600 Royal

 

For -$600 max pay out on 25c VP casinos can keep most games very close to
current ER. For Jacks or Better they could use full coin schedule
2399-557-125-45-30-20-15-10-5 = 99.54%.

For NSUD full coin schedule 2399-1194-125-80-50-20-20-15-10-5 = 99.73%

For $1 JB return could be 599-352-150-45-30-20-15-10-5 = 99.54%

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

 

It will be what it will be.
I for one, won't worry about it until it happens, and then will adjust my gambling accordingly.
Life's to short to get an ulcer trying to second guess something over which I have no control.

Sent from my iPhone

> On Jun 17, 2015, at 5:08 PM, mvetanen@rocketmail.com [vpFREE] <vpFREE@yahoogroups.com> wrote:
>
> 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.
>
>

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Posted by: James Engstrom <jimengstrom1@yahoo.com>
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RE: [vpFREE] Re: LVRJ: Casinos call IRS winnings reporting proposal unworkable

 



Or could the VP coin in be dropped to 2 or 3 coin max per line with the payout adjusted to such?

Sent from my Verizon Wireless 4G LTE smartphone

-------- Original message --------
From: "mvetanen@rocketmail.com [vpFREE]" <vpFREE@yahoogroups.com>
Date: 06/17/2015 4:08 PM (GMT-06:00)
To: vpFREE@yahoogroups.com
Subject: [vpFREE] Re: LVRJ: Casinos call IRS winnings reporting proposal unworkable

 

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.

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

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Posted by: videopkrplayer <videopkrplayer@aol.com>
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RE: [vpFREE] Re: Harrah's Philadelphia VP or VLT?

 

Just because a machine has the designation of being a VLT does NOT mean that it is not a random deal. It depends upon state regulation.

To my knowledge, VLTs (video poker machines) in Maryland, West Virginia, Pennsylvania and Delaware are a random deal. However, VLTs at the New York racinos are not a random deal which becomes very evident after playing a few hands.

> To: vpFREE@yahoogroups.com
> From: vpFREE@yahoogroups.com
> Date: Tue, 16 Jun 2015 19:58:37 -0400
> Subject: RE: [vpFREE] Re: Harrah's Philadelphia VP or VLT?
>
> I haven't been there in about a month, but they have never had VLT machines
> before. Anyone else been there recently?
>
>
>
> Barry
>
>
>
> From: vpFREE@yahoogroups.com [mailto:vpFREE@yahoogroups.com]
> Sent: Tuesday, June 16, 2015 5:57 PM
> To: vpFREE@yahoogroups.com
> Subject: [vpFREE] Re: Harrah's Philadelphia VP or VLT?
>
>
>
>
>
>
>
>
>
> https://www.caesars.com/harrahs-philly/casino
> https://www.caesars.com/harrahs-philly/casino
>
>
>
> look below the fuel rewards section. VLT
>
>
>
>
> [Non-text portions of this message have been removed]
>
>
>
>
>
> [Non-text portions of this message have been removed]
>
>
>
> ------------------------------------
> Posted by: "Barry Shiffrin" <barry.shiffrin@gmail.com>
> ------------------------------------
>
> vpFREE Links: http://www.west-point.org/users/usma1955/20228/V/Links.htm
>
>
> ------------------------------------
>
> Yahoo Groups Links
>
>
>


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Posted by: kelso <kelso1600@hotmail.com>
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[vpFREE] Re: LVRJ: Casinos call IRS winnings reporting proposal unworkable

 

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.

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Posted by: mvetanen@rocketmail.com
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[vpFREE] Re: LVRJ: Casinos call IRS winnings reporting proposal unworkable

 

Nickel 9\6 50 play with RF paying 3999?

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

 

LVRJ: Casinos call IRS winnings reporting proposal unworkable

http://www.reviewjournal.com/business/casinos-gaming/casinos-call-irs-winnings-reporting-proposal-unworkable

or

http://goo.gl/304r3J

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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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Posted by: vpFREE3355 <vpfree3355@gmail.com>
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[vpFREE] Re: Harrah’s Philadelphia VP or VLT?

 

Oregon has 6,000 VLT's in roughly 1,000 locations that offer a variety of slot and video poker games with a return rate of 91%.

http://www.oregonlottery.org/GameInfo/Video/

Oregon also has a large gambling problem too...
http://www.oregonlive.com/politics/index.ssf/2009/11/oregon_lottery_addicted_to_big.html

These machines simply impoverish people though creating and supporting a gambling addiction. Law makers know that these machines create problems in peoples lives but they are addicted to the money - Yes, it is greed.

This trailer on a documentry shows how the Lottery and the VLT's destroy peoples lives...
https://www.youtube.com/watch?v=JdaLMUkqI7c

The five Indian casinos in Oregon say that the State VLT's is their only competition and the games they offer, while better than the State VLT's, still have poor return rates. 98.4% for JOB and 98.9 for DW44.is he best you will find. The Indian casinos have been struggling to make profit and never really recovered from the recession, so casino greed is in full effect and there is no State gaming commission or oversight, so these Indian casinos can do as they please to modify/alter the games to their liking.

I find that education is the best way to help, to show them how devastating it is to them by playing these State VLT's or in the Indian casinos in the long run.

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Posted by: mvetanen@rocketmail.com
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