Discussion in 'Non-Vegas Chat' started by Jerseyguy, Jul 10, 2017.
Was the talk of the block last night along with the power outage we had for about two hours.
I hope they were offered, and took the cash option.
My neighbor finally got his Geo Tracker out of the swamp.
Just not the same...
Congrats to your neighbor!
Reminds me of the time when I was playing BJ at the old Thunderbird when a woman hit the progressive slot for a brand new 1980 Cadillac.
The pit boss came up to my dealer and said in a low voice "You know, there is no car."
There was a little ceremony and a suit offered the lady $25,000 instead of the car. She steadfastly refused. They escorted her somewhere and I didn't see her again.
The pit boss came back and said "They WILL convince her to take the $25K."
i dont get it, that's prob what a caddy cost back then, what difference does it make?
Wasn't there somebody from around the Vegas board world, might not have been this board who won a car in Vegas? Him and the Mrs. decided they would take the car, not the cash and make an adventure out of it. So, they drove the car home? I think it was Pontiac so that shows you how long ago that was....Anybody remember that?
"I put a dollar in--I got a car.
I put a dollar in--I got a car.
I put a dollar in--I got a car.
I put a dollar in--I got a car."
She really wanted the car. The promotion was "WIN A CADILLAC " and that's what she wanted. So maybe they took her to the local Caddy dealer and bought her one. The gist is that The Thunderbird was getting gamblers through the door to play for something that didn't exist. They never thought that someone would actually win.
As an aside, I caught a dealer dealing me a "second card" at the T-Bird, so that's the way they ran everything.
had a friend win a honda in new orleans few years back, he took the cash
a friend won a Mercedes in Cherokee, she took the car but didnt read what she was signing and ended up with her picture on an interstate billboard
just recently in New Orleans my friend won a Mercedes, they told him to get the car he had to call a number and that person would work everything out, he said the person never answered the phone and he was basically pushed into taking the cash option as they only gave him around 15 or 20 minutes to decide...
I always wondered if anyone ever won those cars in AC.
I've never known anyone who won a car in a casino, but I know people that won on The Price is Right and they were given a credit at a local dealership and went there to get the car. It took until 3 months after the showed aired to be available, but they said it wasn't too bad to get the car.
They tell me (the ubiquitous "they") that the cars on display for the local car give-aways here are just demo models loaned by a local dealership, and if you win, it's the value of that particular car in credit at the dealership, good for any model in stock, not necessarily the one on display.
The bad thing I've been told, however, is that you'll get a WHOPPING W2G, making that free car a real whammo at tax time.
After depreciation, taxes, insurance, gas, etc...the car is worse than the money...but people are smart like that.
Yes, you get the tax form with the FULL MSRP as the amount you won. And of course, there are very few cars anyone would pay full price on in the first place. I am thinking it would be a 1099 and not a W2g - but not sure. At least with the W2G, you can offset some of the winnings with losses.
Personally, if I had a choice of car, cash or Freeplayk - I would take the FP in a minute. It has no tax value.
I never understand tournaments that give out big cash vs freeplay.
Why would you want to be locked into FP? I get what you're saying from a tax benefit perspective, but you're still going to take that money out one way or another, no? Now, I would definitely do a mix of FP and cash. In other words, when I win 400,000 from a Royal Flush, I want 10k in FP and the remaining balance in cash. Less money to uncle sam, the better.
Of course you get a W2-G. It's a gaming win of $1200 or more.
You get a similar tax form if you win a car on a game show, too. Income is income.
I'm not a tax expert, but I think you could get a 1099 or a W2-G depending on how the prize is won. If the prize is from a progressive or the giveaway is set as a raffle/lottery, then you would get a W2-G. If it's set up as a sweepstakes, you would get a 1099. I'm not sure of all of the rules/regs about what is a sweepstakes and what is a raffle, but I think a lot of the giveaways casinos do where you get one entry just for swiping, bonus entries for being elite in the player's club, and/or bonus entries for getting certain amounts of tier credits would generally be considered sweepstakes and the prizes would come with 1099s.
ETA: I've won a big prize from a sweepstakes (trip to NY for the NFL draft) and got a 1099. Not sure about game shows, but I believe they get 1099s, because to be a raffle there has to be a cost to buy a chance to win.
These guys are heavy players ,max bet slots at least once a week so they get many entries.I dont know what they're doing but he's a lawyer so he'll figure it out.
We have a friend that won a car at our local a few years back and just a year later he won another one. He kept them both and still has them both. I believe one is a camaro or mustang which gets parked in the winter. Lucky shit!!
Well, now I know why Bob Stupak would be affiliated with something like that. I'm half-kidding...I sometimes go to the Stratosphere because Stup lived for that dream and goddamnit he died for that dream!
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