FlyerTalk Forums - View Single Post - High Roller Slots.... anyone ever get comp'd on them?

Jan 15, 2011 | 1:59 am

#14

baccarat_king

Join Date: Jun 2005

Location: PBI | Formerly CLT, LHR & AMS (with just a bit of PSP)

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Posts: 8,208

Quote:

Originally Posted by mbstone

Don't they fill out IRS paperwork if you hit $1200? That's less than 3 credits on a $500 machine. Assuming one were feeding a roll of $500 tokens into the thing, wouldn't they have to stop and do paperwork every few minutes?

Quote:

Originally Posted by OverThereTooMuch

You think that the same rules that apply to normal people apply to the rich too?

(I'm guessing they they only need to fill out paperwork when they actually cash out.)

Actually, you ONLY receive a W-2G for jackpots of more than $1199; so if you keep feeding the $500 beast, and never 'hit' anything than you will never receive a W-2G.

Of course, probably the smallest jackpot (on a $500 machine) will trigger a lock-up (and you will get a tax form). Obviously, if you are playing a machine such as this consistently; the casino will post an employee at your machine to record the jackpots on a consolidated form (and unlock the machine at each jackpot).

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