1. Welcome to VegasMessageBoard
    It appears you are visiting our community as a guest.
    In order to view full-size images, participate in discussions, vote in polls, etc, you will need to Log in or Register.

Big win payouts

Discussion in 'Casino Gaming' started by hotreds, Oct 26, 2015.

Thread Status:
Not open for further replies.
  1. hotreds

    hotreds Illegitimi non carborundum!

    Joined:
    Jul 31, 2014
    Messages:
    2,860
    Location:
    5 miles past "Resume Speed."
    Trips to Las Vegas:
    13
    Say you win several thousand dollars- does the casino give you a check? I can't imagine walking around with that much cash! Wishful thinking...... And I understand the IRS is ready and waiting to take their cut as well?
     
  2. dvandentop

    dvandentop VIP Whale

    Joined:
    Sep 16, 2013
    Messages:
    1,791
    Trips to Las Vegas:
    15
    There is people walking around cash all day long. You could deffinately get a check if wanted
     
  3. thecarve

    thecarve Misanthrope

    Joined:
    Aug 24, 2009
    Messages:
    6,341
    Trips to Las Vegas:
    75
    They'll give you a check if you ask for it. They'd rather you take cash or a TITO, of course. But they will do a check too.

    Unless you aren't American, they won't withhold any taxes from your jackpot on the spot. But they will file a W-2G (gambling winnings) if you hit a jackpot worth $1200 or more. If you keep track of your other gambling losses, you can use those to offset (or partially offset) your winnings when filing your federal taxes. States have different rules, though. Most allow you to offset winnings with losses. But some don't.
     
  4. hotreds

    hotreds Illegitimi non carborundum!

    Joined:
    Jul 31, 2014
    Messages:
    2,860
    Location:
    5 miles past "Resume Speed."
    Trips to Las Vegas:
    13
    Thanks- I guess I hope to encounter the situation!
     
  5. sindustry

    sindustry VIP Whale

    Joined:
    Jul 22, 2013
    Messages:
    3,172
    You can split it up as cash and check too...

    [​IMG]
     
  6. meliphilus

    meliphilus Low-Roller

    Joined:
    Dec 20, 2011
    Messages:
    118
    Location:
    Texas
    Trips to Las Vegas:
    41
    I'm from Texas and if I get a hand pay in Louisiana they withhold the Louisiana portion.
     
  7. Grid

    Grid Well-Known Member

    Joined:
    Jan 17, 2011
    Messages:
    3,484
    Location:
    Chicago
    Trips to Las Vegas:
    31
    They do that in Wisconsin as well. Really annoying since I usually have losses to offset. In Illinois I think you can choose to withhold or not. In Vegas you have no choice. You get the money with nothing withheld (if you are a US citizen).

    I have always taken an even lump in a check since I dont trust myself. The last handpay I had was for $10,365. I took a check for $10K and $365 in cash. The check did add an extra 20 minutes of my wait time.
     
  8. hotreds

    hotreds Illegitimi non carborundum!

    Joined:
    Jul 31, 2014
    Messages:
    2,860
    Location:
    5 miles past "Resume Speed."
    Trips to Las Vegas:
    13
    Good info! In Ohio and Indiana the IRS takes their cut immediately
     
  9. Riders

    Riders High-Roller

    Joined:
    Aug 29, 2012
    Messages:
    661
    Location:
    GA
    Trips to Las Vegas:
    55
  10. nostresshere

    nostresshere Mr. Anti Debit Card

    Joined:
    May 4, 2009
    Messages:
    23,220
    Location:
    TN
    Trips to Las Vegas:
    40
    Yep, cash or check.

    Biggest I have hit is 10k. I always take cash. Walking around with $4 or $5k is no big deal. I did have them hold out $3k on the $10k hit.

    By the way, Mississippi takes out 3% automatically for the state no matter where you live. You might call that "auto-gratuity". LOL!
     
  11. BayouBengal

    BayouBengal VIP Whale

    Joined:
    Jan 1, 2014
    Messages:
    3,172
    Trips to Las Vegas:
    15
    And I assume you file Louisiana return and get it back assuming you don't work in Louisiana?
     
  12. 5Vegas5

    5Vegas5 Tourist

    Joined:
    Oct 6, 2015
    Messages:
    37
    Trips to Las Vegas:
    15
    I always request all taxes taken out on hand pays in Vegas and get checks when over $10,000 net after taxes. Only exception is McCarran which doesn't allow you to have taxes withheld.
     
  13. Joe

    Joe VIP Whale

    Joined:
    Sep 11, 2009
    Messages:
    16,023
    Location:
    Wisconsin
    Trips to Las Vegas:
    175
    Currently 14 states don't allow you deduct gambling losses. The Aholes! Without doing the research, I'm guessing the majority on them have state run lotteries and Indian gaming.

    Connecticut
    Hawaii
    Illinois
    Indiana
    Kansas
    Massachusetts
    Michigan
    Minnesota
    Mississippi
    New York
    Ohio
    Washington
    West Virginia
    Wisconsin
    And then there are 7 states with no income tax.
     
  14. NYNYGirl

    NYNYGirl VIP Whale

    Joined:
    Jun 21, 2007
    Messages:
    2,293
    Trips to Las Vegas:
    4
  15. engicedave

    engicedave VIP Whale

    Joined:
    Aug 27, 2005
    Messages:
    1,154
    My largest was over $33K in Biloxi
    I got two $10K wraps of hundys
    I got one check for 10K
    and the rest in the usual breakdown of it was in hundys and 20's
     
  16. nostresshere

    nostresshere Mr. Anti Debit Card

    Joined:
    May 4, 2009
    Messages:
    23,220
    Location:
    TN
    Trips to Las Vegas:
    40
    I don't understand how people have trouble with TSA.

    1 - If the cash is BURIED in your carryon, they do not have time to dig it out and steal it.
    2 - You are allowed to hold it in your hand if you want, but why bother?

    Of course, if it is sitting in an open bin waiting for someone to grab it, then it can happen.

    They do not go through a bag without you standing there.
     
  17. engicedave

    engicedave VIP Whale

    Joined:
    Aug 27, 2005
    Messages:
    1,154
    Domestically, there is no legal limit to what you can carry. Now, if you profile as a drug dealer and you have a hundred grand on you, they might ask where it came from, but also keep in mind, your ticket says "LAS" on it somewhere, right? They know why you have money and what it's for, even if they did see it in your bag.
    But also as said, they can't open or inspect your bag outside of your presence
     
  18. Chuck2009x

    Chuck2009x VIP Whale

    Joined:
    Apr 5, 2009
    Messages:
    14,199
    Location:
    Boston
    Trips to Las Vegas:
    30
    Not true, they open up checked baggage all the time.
     
  19. oghuman

    oghuman VIP Whale

    Joined:
    May 24, 2010
    Messages:
    3,473
    Location:
    NYC
    Trips to Las Vegas:
    48
    I know at Caesars Palace the minimum amount that you can get a check is for $5,000 if playing VP or slots.
     
  20. shifter

    shifter Degenerate Gambler

    Joined:
    Sep 15, 2010
    Messages:
    10,096
    Location:
    At the tables
    Trips to Las Vegas:
    30
    I have them wire my large six figure wins home.

    But I've also taken cash for six figures.

    You put it in a bag and nobody knows it's there.

    But there's something about a wrapped brick of cash that's sexy.

    20141122_221710.jpg
     
Thread Status:
Not open for further replies.