Do the Nevada gaming regs allow multi-play machines where you must play the max hands; e.g. a 10 play machine where you must play 10 hands? I have not found any such machines although they might exist. I ask because I can find full pay machines at $1, $2, $5 or other denominations which are full pay and I can afford to play as a recreational player, but in each instance the royal requires tax withholding.
If the machine was a 10-play $.25 VP machine for example requiring that 10 hands be played, the non-professional gambler could play at a total coin in level per hand to meet the casinos requirements for the machine to be profitable for them, but not make the player report one big win when actually they probably suffered a loss throughout the entire year. Such a machine would work to the benefit of the casino because the casino would have to deal with much less paperwork on fewer "taxable" jackpots while they should see more coin-in as a result of the casual player being willing to gamble more per hand. My guess is also that the small casino would not have to maintain as much money in reserve to pay off the rare large jackpot. The player would still be obligated to declare their per session winnings to the IRS but the overall tax that they would have to pay for the years play would be less. If the regs do not allow such machines now it would be to the advantage of the casinos, game manufacturers, players and gaming commission to allow them. WIN/WIN/WIN. If you have any contacts which might be helpful in getting this worked out please speak to them about the idea.
Posted by: genefro41@gmail.com
| Reply via web post | • | Reply to sender | • | Reply to group | • | Start a New Topic | • | Messages in this topic (1) |
