I was at the Wynn last June for 1 day and I want to know if someone can clarify this: "Your total estimated Slot Win/(Loss) for the year of 2014 is ($715.91). This figure represents the total coin deposited into the machines, less total coin paid out of the machines, and less jackpots paid by hand with currency. Please note that hand paid currency jackpots include the reported W-2G winnings. Your total estimated Table Win/(Loss) for the year of 2014 is ($100.00)." My question is: My Current Point Balance is 3570 This was for 1 day visit I know I on slots I put more than double the (715.91).
Excuse my ignorance, Im sure i has been covered somewhere on this board but how do they come up the W/L (715) and (100).
For your slot/VP play, your players club (Red) card records the coin wagered, won and lost on every spin/hand. The same algorithm that calculates your point total is also counting what you put into a machine, what you win and lose during each session and what you cashed out of the machine on each session. Add them all up for all visits and you get the Win/loss statement at year end. Since I don't play table games - I will leave that to others to explain, but I imagine it is the result of the buy in, cash out and time/ amount of bet data entered by the pit boss during your table sessions. Your points just represent the number of $bet each time you played there - regardless if you bet a part of jackpot or kept going into your wallet to add money to keep playing.
Thanks Goldlot / Shifter, So I remember putting 1700 in the machine that day how does that add up for you?
doesn't matter how much actual cash you put into the machine. it matters how many spins you bet at how much. that's your total coin-in, which is what comps/points are based on.
The MGM players can go to their mLife page and go to the tab "tax statements" anytime. The win/loss is broken down by casino and available for several years. The first column is slots, second tables. It's updated pretty much instantly as far as I can figure. Others may have a different take but the table win/loss is dead accurate but the slot win/loss is subject to Chaos Theory and doesn't come even close to being near accurate. At Aria last trip my net for the year on table games was plus $2200. I left the Crazy Four poker table with a net of $1400. Two days later, having played no other table games I checked my win/loss and it shows me up $3600 for the year. Accurate! You are always best to keep a log of what you gamble and on and how much just in case you hit a really big one. You can only deduct your gambling losses up to what you've won, no more. The IRS won't challenge small losses but if you hit a $500K progressive and then claim $500K in losses you better back it up with hard evidence. As I understand it win/loss statements from the casinos are not solid evidence! A log book, spreadsheet, checkbook, ATM receipts are. Good luck!
Table win/loss is absolutely never accurate over the long term. One weekend? Sure, even blind squirrels find an occasional acorn.
What messed up my guy in/cash out last trip was doing check change when buying in. But I would sometimes pull extra chips out of my pocket when coloring up if it meant I could consolidate by getting a black, purple,etc. My actually win/loss was off by about $1000.
Actually the number one reason your actual win/loss is off is because the pit boss has to make his tray match up at the end of the day. So if he's off on his number because some schmuck was pigeon holing he's going to tweak your number so it gets back in line.
Slots, tables, etc.... it is what they have tracked. They do a pretty good job of tracking, but nothing if fool proof. If card did bit register in machine, it does not track it. If system is having an issue, they do not track it. If you do not use your card, they do not track it. If the pit boss is not paying attention and does not enter your card,they do not track it. That stuff is only a record of what they actually know.
Makes sense. Oh well, at my level I don't think it makes a big difference. Though for the most part I'd keep my chips on the rail but only play with the ones I'd do check change for.
This is backwards. There's no reason for slot win/loss to be inaccurate. And there's no reason for table win/loss to be accurate unless you flat bet and always color at the end of a session.
That is exactly correct Chuck. The cash in is scanned, (TITO or currency), the betting, wins and losses are digital, cash out is digital - so as long as the player's card is not damaged, that win/loss number is (to quote Marissa Tomei in My Cousin Vinny) "100% balls on accurate". Should you choose to pull the card out at any point, then of course - there would be nothing to associate subsequent wins/losses to you as a player.
