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Slots Bellagio Violating $1200 Slot W2G rule??

Discussion in 'Slots' started by DeMoN2318, Jun 18, 2014.

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  1. DeMoN2318

    DeMoN2318 The DERS

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    Was watching this video of a $500 Top Dollar machine. It starts with the player showing a $5k TITO from Bellagio and inserting it, at 1:33 they hit mixed bars for 5 credits ($2500), but the machine does not lock up requiring a handpay...

    http://youtu.be/qrYzNqS97AM
     
  2. klawrey

    klawrey High-Roller

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    I've seen some high limit rooms have a boss roaming the room and tracking pay to provide a single W-2G at the end of the session instead of multiples every time someone hits for 2.1x on a $500 a spin machine. That's the only explanation I have. The player like got a single W-2G at the end of the session.
     
  3. 44inarow

    44inarow VIP Whale

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    I vaguely remember someone -- my work-addled brain can't remember who right now -- explained that on machines like this, they track wins and generally either provide a single W-2G at the end, or a stack of W-2Gs corresponding to all the $1200+ wins. It makes sense, because at that denomination, just about any win (or, specifically, any win bigger than two credits) would generate a handpay, and it'd be a nightmare to sit there and play like that with someone constantly stopping the game to deal with the paperwork.
     
  4. Fafa2e

    Fafa2e Low-Roller

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    Wow! $1,000 per spin.
     
    Bonus Money to Burn
  5. PPtraderal

    PPtraderal Low-Roller

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    If I remember my accounting, the Windfall Wagering Rule has two parts,. I know at the track the rule is a minimum payout of $ 600.00 and odds in excess of 300-1. So a $1.00 trifecta ticket paying $ 599.00 is clean, but $ 601 requires a signature. Now if you bet $10,000 on a horse and it wins at 20-1 say, you have a big payoff but do not exceed the 300-1 rule. In general the casino rule is $1200.00 but I've seen people win $ 10,000 on a single blackjack bet and not have to sign. Then again tables may have a separate set of rules. My guess here is the bet size may be the determining factor. Just one old accountants point of view.
     
  6. 44inarow

    44inarow VIP Whale

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    It's complicated and a pain in the ass, but the instructions for the W-2G explain it pretty well. Basically, the $600/300:1 rule doesn't apply to slot machines (or keno or poker), but should apply to all other wagering, including table games and horse racing, which is why even large blackjack wagers don't generate forms.*

    *Not financial/legal advice, not your lawyer, etc., etc.
     
  7. dmr

    dmr Registered Abuser

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    Yeah, and I consider a $5 slot to be out of my league!
     
  8. seviay

    seviay High-Roller

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    It seems like most people I know who play slots would walk away from a machine if it went 5 spins without hitting a single thing. I find it to be frustrating and mind-numbing enough to play slots when they do occasionally hit. I don't know how you can just keep loading up for $1,000/press if you're not even hearing any happy bells along the way
     
  9. dfalk

    dfalk VIP Whale

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    I can play $0.10 a spin for a long without hearing any "happy bells" and keep on playing. $1000 to some people is pocket change.


    Also I don't think this machine is on a casino floor. Doesn't look or sound like a casino at all. I'm guessing it's a tech playing with a machine in the back room.
     
  10. DeMoN2318

    DeMoN2318 The DERS

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    Very possible. Or the high limit room is just really quiet
     
  11. Scottndindy

    Scottndindy Low-Roller

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    The casino does a single W2 at the end of session.
     
  12. releaseYourself

    releaseYourself Tourist

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    Also, if you watch his other videos, you'll see in the comments that that isn't actually at Bellagio. He bought the $500 machine from Bellagio and it's sitting in his home. It's basically his own personal slot machine. I'm sure he's configured it to not lock up at $1200. He also must have some way of printing TITOs that his particular slot machine can read.

    It's also probably true for these high denominations that you just get a single W2G at the end of the session as opposed to whenever you get a hit. I cant imagine how painful it would be to play a slot machine where every mixed bars hit locks the machine up and requires you to get hand-paid on the spot.
     
  13. Bo333

    Bo333 VIP Whale

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    I've been in some high limit slot areas when they were very quiet. Pretty much dead.
     
  14. dfalk

    dfalk VIP Whale

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    This guy's pretty smart:

    1. Sit at home and record wins on your personal slot machine.
    2. Upload to youtube with title saying "$80K dollar win"
    3. Profit.
     
  15. DeMoN2318

    DeMoN2318 The DERS

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    Profit through YouTube?
     
  16. easy_money

    easy_money Low-Roller

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    Doubt it. He only has about 280 subscribers to his channel.
     
  17. Auggie

    Auggie Dovahkiin

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    When you watch a video on YouTube you've probably seen those ads that youtube places at the bottom of the video? Those aren't required: you can actually upload your video without ads, but if you choose to allow ads then you can make some money as people watch your videos.

    Thats why average people (versus companies, who do it for advertising) spend so much time and effort to make videos and try to get them to go viral. The average person isn't going to make buckets of cash when their video of their cat gets watched a couple of hundred times, but if you can put up a video that goes viral and gets millions of views you can make some money off it.
     
  18. DeMoN2318

    DeMoN2318 The DERS

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    Wow! thats pretty cool!
     
  19. dfalk

    dfalk VIP Whale

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    Subscribers don't mean shit, it's all about the views. Youtube pays you everytime someone watchs your video, It's usually $1- $3 dollars per 1000 views.

    This guy has 868,000 total views on his channel. If you take an average of $1.5 per 1,000 views he made $1302, while it's not a huge amount of money it's not bad for uploading some videos.

    Exactly, some people make a living off their youtube channels, Epic Meal Time and Jenna Marbles comes to mind.

    Take Jenna for example, she has 1,466,957,731 total views since Feb 2010. Since shes one of the top youtubers shes probably making at least $3 or more per 1,000 views. Lets take a low ball figure and say she gets $2, that is $2,933,915!! in just over 4 years. That's some pretty damn good money for uploading a video once a week.
     
  20. easy_money

    easy_money Low-Roller

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    Belay my last. I agree, subscribers don't mean much. Just didn't want to elaborate on it too much. To a certain extent, more subscribers in the long run = more views as is technically more advertisement. I think Jenna made that in 1 year already. There was a recent article out for the top YouTubers who make a living off uploading videos. The top 1 was that dude that reviews video games, but in a very unique way and uploads it. Forgot his name. But yea, it's technically easy money for uploading a video.
     
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