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Slots high limit slots question

Discussion in 'Slots' started by archie, Mar 22, 2015.

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  1. archie

    archie Tourist

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    hi I hope someone can help with this.
    I've been in a few high limit slot rooms and wonder what the procedure is for players of $100-$500 machines.
    do they get constant hand pays for wins or is there tally up system at the end of a session?
    I hope I've made sense,thanks
     
  2. shifter

    shifter Degenerate Gambler

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    constant hand pays for wins.

    that's why most play multiple machines simultaneously.

    when one is locked up for a HP,

    you keep playing the other(s).
     
  3. meyers67

    meyers67 High-Roller

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    You can get a slot girl to stand by you and log the hand pays. That way the machine doesn't lock up.
     
  4. lotso-bear

    lotso-bear VIP Whale

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    I believe Aria has a system that doesn't require a HP every time since it automatically records the wins.
     
  5. samsadan

    samsadan Tourist

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    ARIA, COSMO, and Bellagio (on some of the machines) have a Quick Pay system. When you have W-2 size winning, the money locks and you choose "Quick Pay" and enter your Pin number associated with your account. Then the jackpot amount gets deposited to your machine balance...after a full gaming day per casino clock, or when you inform them your are done for the day, they will print the winning log and a single W-2 for the aggregate amount. If you forget to retrieve, do not worry as they will mail it to your home address. One draw back of Quick Pay is that we cannot withhold tax. If you want to withhold tax (better proposition for high limit slot players), then you ask the "Accrual or Long Form" to be set up. Then for the first W-2, you sign a blank W-2 Form and 1-page accrual ledger form. For subsequent W-2s, the attendants must serve you but process is much quicker than individual W-2s and you can ask selectively what jackpot you want the federal tax to be withheld from (say over $10K). Depending on casino, some use accrual ledger with 22 lines, 21 lines, etc. Hence, upon filling that page, attendants will bring out new accrual form to be filled out. For those players that you have seen attendant standing behind and manually logging the action and free up the locked machine, it has to be usually $100 machine with multiple line or $500 machine so every hit pretty much is a W-2 event, or $1 slot video with 100-200 bets per spin, or you ask the casino based on your "credentials." Unless a player generates 40-100 W-2s per day, not worth it though...Plus, for that kind of slot action, even 2 - 3 two or three night trips to Vegas will result an easy $2-$3 million in phantom income that you have to offset with almost identical amount of itemized gambling loss deduction. This means that that you better (if not must) keep an accurate log/diary, plus taking photos of each W-2 event, return home and compile data in a spreadsheet...
     
  6. mrstealth

    mrstealth High-Roller

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    You can either ask for a "recorder" who will record all of the 1099 events, or on many of the modern machines a slot attendant will open the machine and the machine will log all of the 1099 events and at the end of your session you will get a printout with 1 1099 combining all of the events with the attached printout as verification.
     
  7. archie

    archie Tourist

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    thanks for the responses,i don't think I will ever get to the spreadsheet stage:evillaugh
     
  8. Big dan

    Big dan Low-Roller

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    One can only hope. Do they have them for nickels?:eek:
     
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