You might want to look at IRS Notice 2015-21 – Proposed Safe Harbor Method for Determining a Wagering Gain or Loss from Slot Machine Play. This document defines a session of play as play during a calendar day on a particular type of game at the same gaming establishment. I don't believe that a hand pay (that usually requires removal of the player's card from the machine) triggers the end of a "session". But that is just my opinion.
btw, not to minimize your point about the benefit of session reporting, I'll note that my interpretation of the session rules are such that any transaction that results in the redemption of credits for cash constitutes a session break. As such, being issued a w2-g with cash payment will require accounting for a session at that point, reducing the opportunity for offsetting "session" losses later in the day. (I haven't seen this "take" validated elsewhere, but I find it consistent with the logic of session reporting. You're welcome to take it with less than a grain of salt ;)
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Posted by: Walter Hamilton <walterhnri@aol.com>
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