Paying 1/3 of winnings to the casino before you leave. - GoFuckYourself.com

DeadFidel · 08-27-2013, 08:31 AM

I was at the Yonkers casino last night and got lucky on roulette winning $950. When I cashed in the voucher I was told to give my Social Security number and deducted $306 from my payout.

Hard enough to beat the casino but you cannot beat the internal revenue service.

What's the point in gambling these days?

Colmike9 · 08-27-2013, 08:35 AM

I go to a cash poker room once in a while. Last time I won $1250 and the only expense was a small 5%ish rake.

96ukssob · 08-27-2013, 08:37 AM

Quote:

Originally Posted by DeadFidel

I was at the Yonkers casino last night and got lucky on roulette winning $950. When I cashed in the voucher I was told to give my Social Security number and deducted $306 from my payout.

Hard enough to beat the casino but you cannot beat the internal revenue service.

What's the point in gambling these days?

because they know you won't claim it yourself

each state has it's own limit before they will charge you. PA for slots is $600 and I think table games is $2k? I'm not sure, but as long as you don't tell them you won at a table game, they don't know if you walked in with $10k and walking out with $5k, slots are a bit different.

my friend's gf and her cousin went to the casino near us and she won $1,100 on a slot. they came to get her info and then SEIZED the money because she hasn't paid her taxes in a few years

Adult-biz · 08-27-2013, 08:37 AM

Thankfully no tax due on gambling winnings in the UK.

Yanks_Todd · 08-27-2013, 08:45 AM

Quote:

Originally Posted by DeadFidel

What's the point in gambling these days?

Apparently $644.

Seth Manson · 08-27-2013, 08:52 AM

Always keep track of gambling losses and winning and you can deduct your losses up to the amount of your winnings. Anything over that is income.

PR_Glen · 08-27-2013, 08:53 AM

Quote:

Originally Posted by Colmike7

I go to a cash poker room once in a while. Last time I won $1250 and the only expense was a small 5%ish rake.

5% is huge for a rake...

AllAboutCams · 08-27-2013, 08:55 AM

What the fuck
Ive never had to pay tax in perth

DeadFidel · 08-27-2013, 08:55 AM

Quote:

Originally Posted by bossku69

because they know you won't claim it yourself

each state has it's own limit before they will charge you. PA for slots is $600 and I think table games is $2k? I'm not sure, but as long as you don't tell them you won at a table game, they don't know if you walked in with $10k and walking out with $5k, slots are a bit different.

my friend's gf and her cousin went to the casino near us and she won $1,100 on a slot. they came to get her info and then SEIZED the money because she hasn't paid her taxes in a few years

yeah well 1984. Still although I oblige completely with the IRS, these rules take away from the small margin of winning the house. It is not fun. In the old days I had no problem paying 10% vig when I lost, but paying a third when you win gives no motivation for the risk.

Colmike9 · 08-27-2013, 08:56 AM

Quote:

Originally Posted by PR_Glen

5% is huge for a rake...

Yeah, they're assholes there, but the people that play there suck so it's worth it.

Sly · 08-27-2013, 08:58 AM

Quote:

Originally Posted by DeadFidel

I was at the Yonkers casino last night and got lucky on roulette winning $950. When I cashed in the voucher I was told to give my Social Security number and deducted $306 from my payout.

Hard enough to beat the casino but you cannot beat the internal revenue service.

What's the point in gambling these days?

I like how they tax your winnings but don't give you a bonus when you lose.

Rochard · 08-27-2013, 09:09 AM

Quote:

Originally Posted by Yanks_Todd

Apparently $644.

LOL.

The IRS is trying to shut down loopholes. It's easy for the casino to say "Well, we gave away $10k to one lucky winner last night" and there is no way for the IRS to know if it's legit or not. At the same time, if someone wins $10k... The IRS has no way of knowing.

pornguy · 08-27-2013, 09:16 AM

Now deposit that shit in your Bank and pay again.

L-Pink · 08-27-2013, 09:21 AM

Had a friend bitching about that last week. He was on a gambling boat in Cincinnati down about $600-700 between himself and his wife then wins about $2000 and they take a big chunk for taxes but don't factor in the money he had already lost. Got pissed and left, lol.

Sly · 08-27-2013, 09:23 AM

Quote:

Originally Posted by L-Pink

Had a friend bitching about that last week. He was on a gambling boat in Cincinnati down about $600-700 between himself and his wife then wins about $2000 and they take a big chunk for taxes but don't factor in the money he had already lost. Got pissed and left, lol.

Exactly. What if you spent $5000, left with $5000 in chips. Are you getting taxed on your few hours just sitting at the table?

sperbonzo · 08-27-2013, 09:33 AM

Quote:

Originally Posted by Sly

I like how they tax your winnings but don't give you a bonus when you lose.

Just like Capital Gains Tax.....

.

xNetworx · 08-27-2013, 10:37 AM

Brent 3dSexCash · 08-27-2013, 10:43 AM

Quote:

Originally Posted by DeadFidel

I was at the Yonkers casino last night and got lucky on roulette winning $950. When I cashed in the voucher I was told to give my Social Security number and deducted $306 from my payout.

Hard enough to beat the casino but you cannot beat the internal revenue service.

What's the point in gambling these days?

Wow, never heard of that.

I have seen people win 100k+ in Vegas on table games and just walk out with the cash. No questions, no forms.

RandyRandy · 08-27-2013, 10:59 AM

Came in second in a poker tournament and had a great run in BlackJack last week in Bogota. When I cashed out (a little over $1,000) the cashier only asked if I would like them to call me a cab. Yes of course!

BTW, this small casino has the best BlackJack rules I've ever seen. Double-down on any hand, surrender and "double action" - where you can double your bet after seeing the dealer's hole card (before seeing your cards of course). It's a beautiful thing to double your bet when the dealer has a 4-5-6 showing.

http://rockefeller82.com/

dehash · 08-27-2013, 11:04 AM

Quote:

Originally Posted by sexus

Thankfully no tax due on gambling winnings in the UK.

It lotto counts as gambling in UK?

fuzebox · 08-27-2013, 11:14 AM

Quote:

Originally Posted by Brent 3dSexCash

Wow, never heard of that.

I have seen people win 100k+ in Vegas on table games and just walk out with the cash. No questions, no forms.

When you cash out the much at the cage they will ask you if you want to fill out a w-2,to which you can decline with no issue.

If you win over $1k at a machine in one spin (jackpot, bonus etc) you will have to fill out paperwork and they will pay it to you in cash. If you're non-american they'll keep 30%.

Adult-biz · 08-28-2013, 11:38 AM

Quote:

Originally Posted by dehash

It lotto counts as gambling in UK?

The National Lottery is a prize and no taxes (to the best of my knowledge) are due to be paid on any winnings.

Aidoru · 08-29-2013, 06:26 PM

Rules are for everyone. Also I like to play blackjack!

wehateporn · 08-29-2013, 06:34 PM

Gambling is a bad enough idea even when winnings are tax-free

96ukssob · 08-29-2013, 09:51 PM

Quote:

Originally Posted by Rochard

LOL.

The IRS is trying to shut down loopholes. It's easy for the casino to say "Well, we gave away $10k to one lucky winner last night" and there is no way for the IRS to know if it's legit or not. At the same time, if someone wins $10k... The IRS has no way of knowing.

funny, because the whole notion of the taxes you pay as an individual are "earned income tax" which winnings are not.

IMO, it's rather BS that you have to pay that % if you can provide evidence that you have lost money chasing that $1,000 win, otherwise you should be allowed to EXPENSE your gambling losses.

so, if you put in $500 into a slot machine, drain it all, then dump in your last $20 and win $600, in PA you have to pay taxes on the $600 BEFORE they will give you the winnings. I think it should be you prove, through your players card or receipts (which they don't obviously provide), that you invested $520 to make that $600, so your tax rate should be 30%+ on the $80 profit, not $600 net.

to me, makes no sense

Seth Manson · 08-29-2013, 10:14 PM

Quote:

Originally Posted by bossku69

I think it should be you prove, through your players card or receipts (which they don't obviously provide), that you invested $520 to make that $600, so your tax rate should be 30%+ on the $80 profit, not $600 net.

Thats what a tax return is for, and why you are allowed to deduct gambling losses up to the amount of your winnings.

fuzebox · 08-30-2013, 02:06 AM

Quote:

Originally Posted by bossku69

funny, because the whole notion of the taxes you pay as an individual are "earned income tax" which winnings are not.

IMO, it's rather BS that you have to pay that % if you can provide evidence that you have lost money chasing that $1,000 win, otherwise you should be allowed to EXPENSE your gambling losses.

so, if you put in $500 into a slot machine, drain it all, then dump in your last $20 and win $600, in PA you have to pay taxes on the $600 BEFORE they will give you the winnings. I think it should be you prove, through your players card or receipts (which they don't obviously provide), that you invested $520 to make that $600, so your tax rate should be 30%+ on the $80 profit, not $600 net.

to me, makes no sense

You can request a win/loss statement from the casino, as long as your play has been rated via players card/loyalty program.

Barefootsies · 08-30-2013, 02:09 AM

I am not sure where all of your guys are playing? That is, if you're talking about Vegas or your local casinos.

I know for the casinos around here, they are Indian. You only have to "pay tax" at the cage on any slot type winnings over like $600.00. If you win on the tables, you have to fill out a form ONCE per year if its' higher than $10,000.00 in a 48 hour period. For example, you win $5k in two days back to back or over $10k in a single day. They do not tax or take anything from you on the pay out, you just have to fill out the form.

As I have mainly played tables, I have never been taxed at the casino, even in Vegas.

seeandsee · 08-30-2013, 02:31 AM

Indian casinos have different tax rules?

Barefootsies · 08-30-2013, 02:35 AM

Quote:

Originally Posted by seeandsee

Indian casinos have different tax rules?

http://www.forbes.com/sites/robertwo...-surprise-you/

Lichen · 08-30-2013, 03:44 AM

Gambling is for idiots.

dehash · 08-30-2013, 04:11 AM

Quote:

Originally Posted by Lichen

Gambling is for idiots.

Calling others "idiots" is for morons.

fuzebox · 08-30-2013, 04:15 AM

Quote:

Originally Posted by Barefootsies

I am not sure where all of your guys are playing? That is, if you're talking about Vegas or your local casinos.

I know for the casinos around here, they are Indian. You only have to "pay tax" at the cage on any slot type winnings over like $600.00. If you win on the tables, you have to fill out a form ONCE per year if its' higher than $10,000.00 in a 48 hour period. For example, you win $5k in two days back to back or over $10k in a single day. They do not tax or take anything from you on the pay out, you just have to fill out the form.

As I have mainly played tables, I have never been taxed at the casino, even in Vegas.

The mandatory 30% tax happens if you are a foreign visitor and thus unable to provide an SSN.

08-27-2013, 08:31 AM	#1
DeadFidel Confirmed User Join Date: Jul 2003 Location: This was my wife circa 2002 Posts: 6,741	Paying 1/3 of winnings to the casino before you leave. I was at the Yonkers casino last night and got lucky on roulette winning $950. When I cashed in the voucher I was told to give my Social Security number and deducted $306 from my payout. Hard enough to beat the casino but you cannot beat the internal revenue service. What's the point in gambling these days?

08-27-2013, 08:35 AM	#2
Colmike9 (>^_^)b Industry Role: Join Date: Dec 2011 Posts: 7,224	I go to a cash poker room once in a while. Last time I won $1250 and the only expense was a small 5%ish rake. __________________ Join the BEST cam affiliate program on the internet! I've referred over $1.7mil in spending this past year, you should join in. I make a lot more money in the medical field in a lab now, fuck you guys. Don't ask me to come back, but do join Chaturbate in my sig, it still makes bank without me touching shit for years..

08-27-2013, 08:55 AM	#8
AllAboutCams Femcams.com Industry Role: Join Date: Jul 2011 Location: bjcam.com Posts: 12,220	What the fuck Ive never had to pay tax in perth __________________ Binance - Blockchain and Crypto Asset Exchange Chaturbate make money in cams

08-27-2013, 09:16 AM	#13
pornguy Too lazy to set a custom title Industry Role: Join Date: Mar 2003 Location: Homeless Posts: 62,912	Now deposit that shit in your Bank and pay again. __________________ PornGuy skype me pornguy_epic AmateurDough The Hottes Shemales online! TChicks.com \| Angeles Cid \| Mariana Cordoba \| MAILERS WELCOME!

08-29-2013, 06:26 PM	#23
Aidoru Confirmed User Industry Role: Join Date: Jul 2012 Posts: 655	Rules are for everyone. Also I like to play blackjack! __________________ Gravurecash - 50% Lifetime RevShare on all signups and rebills, 5% Webmaster Referral

08-27-2013, 08:37 AM	#4
Adult-biz Service Provider Industry Role: Join Date: Mar 2003 Posts: 2,139	Thankfully no tax due on gambling winnings in the UK.

08-27-2013, 08:52 AM	#6
Seth Manson Please dont fuck animals Industry Role: Join Date: Jul 2010 Location: Henderson, NV Posts: 3,988	Always keep track of gambling losses and winning and you can deduct your losses up to the amount of your winnings. Anything over that is income.

08-27-2013, 09:21 AM	#14
L-Pink working on my tan Industry Role: Join Date: Mar 2005 Location: Florida/Kentucky Posts: 39,152	Had a friend bitching about that last week. He was on a gambling boat in Cincinnati down about $600-700 between himself and his wife then wins about $2000 and they take a big chunk for taxes but don't factor in the money he had already lost. Got pissed and left, lol.

08-27-2013, 10:37 AM	#17
xNetworx So Fucking What Industry Role: Join Date: Jan 2004 Location: Whore Island Posts: 14,445

08-27-2013, 10:59 AM	#19
RandyRandy Clips still sell! Industry Role: Join Date: Jul 2012 Location: Crown Heights, Brooklyn Posts: 1,708	Came in second in a poker tournament and had a great run in BlackJack last week in Bogota. When I cashed out (a little over $1,000) the cashier only asked if I would like them to call me a cab. Yes of course! BTW, this small casino has the best BlackJack rules I've ever seen. Double-down on any hand, surrender and "double action" - where you can double your bet after seeing the dealer's hole card (before seeing your cards of course). It's a beautiful thing to double your bet when the dealer has a 4-5-6 showing. http://rockefeller82.com/

08-29-2013, 06:34 PM	#24
wehateporn Promoting Debate on GFY Industry Role: Join Date: Apr 2007 Posts: 27,173	Gambling is a bad enough idea even when winnings are tax-free __________________ Sexy Girls Teasing

08-30-2013, 02:09 AM	#28
Barefootsies Choice is an Illusion Industry Role: Join Date: Feb 2005 Location: Land of Obama Posts: 42,635	I am not sure where all of your guys are playing? That is, if you're talking about Vegas or your local casinos. I know for the casinos around here, they are Indian. You only have to "pay tax" at the cage on any slot type winnings over like $600.00. If you win on the tables, you have to fill out a form ONCE per year if its' higher than $10,000.00 in a 48 hour period. For example, you win $5k in two days back to back or over $10k in a single day. They do not tax or take anything from you on the pay out, you just have to fill out the form. As I have mainly played tables, I have never been taxed at the casino, even in Vegas. __________________ Should You Email Your Members? Link1 \| Link2 \| Link3 Enough Said. "Would you rather live like a king for a year or like a prince forever?"

08-30-2013, 02:31 AM	#29
seeandsee Check SIG! Industry Role: Join Date: Mar 2006 Location: Europe (Skype: gojkoas) Posts: 50,945	Indian casinos have different tax rules? __________________ BUY MY SIG - 50$/Year Contact here

08-30-2013, 03:44 AM	#31
Lichen Tube Master Industry Role: Join Date: May 2004 Posts: 1,640	Gambling is for idiots.