Strictly Slots August 2022

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The new feature makes for some inter esting features but not receiving thoseW-2Gs makes it easier on the pocketbook! Your thoughts…… —Ange B. Somerset,NJ An increase in the tax reporting requirement to $5,000 would mean jackpots of up to that amount COULD be credited directly to your machine. It doesn’t necessarily mean they WOULD. It would be easy enough to adjust soft ware to put larger jackpots on your credit meter. However, changes in the way jackpots are paid would have to be approved by state gaming boards. There likely would be a pe riod of different regulations in different states. In addition to tax reporting require ments, there’s an anti-money laundering as pect to how much money is allowed on a credit meter. That’s where your question about automatic ticket printouts comes in. Many casinos set $3,000 as a minimum to report large transactions in order not to run afoul of money laundering operations. So any win on a slot or video poker machine that would push the meter over $3,000 is printed as a ticket instead. If that remains in effect, then you’d often see jackpots printed out or paid by hand instead of going on the meters. Certainly, a decrease in hand-pays would decrease tipping situations for slot per sonnel.You also are likely correct that putting large amounts of money on the meters would increase impulse wagering with money that otherwise wouldn’t be put to risk. As always, it must be said that even though a jackpot doesn’t trigger a tax form before the player can get paid, the IRS still considers the money taxable income.Report ing is up to you.

I enjoy your magazine very much and look forward to each issue. Your article on pet peeves really hit home,and I would like to add a couple of my own. I frequent the casinos in Connecticut and lately I’ve noticed that more and more people constantly pound on the slot machines;not just touching the screen,but ac tually pounding on them like they are fighting them! Recently a woman next to me was pounding on the Firelink machine so hard I thought she was going to break it! Every time she hit a bonus she beat it up like it was her worst enemy. It’s very annoying and drives me crazy. That same visit something different hap pened that I’d never seen before.There was a bank of four Attack of the Planet Moolah machines and people tend to play them for long periods of time because of the frequency of the bonuses.All four machines were full and as we were playing we noticed a couple be hind us watching and waiting.After about an hour they left and came back with an atten dant and had the nerve to complain that we had been on the machines too long! Of course the attendant escorted them away—I never knew anyone thought there was a time limit on how long you can play a slot machine! Thank you for your excellent and in formative magazine! —Bonnie Via the Internet TAXABLE SLOT JACKPOTS I love the information provided by Strictly Slots and Casino Player magazines. I have several issues regarding Congress possibly raising the taxable threshold to $5,000. My wife and I play the $2.00 Double Dou ble Poker machines,which means our current hand-paid jackpots for 4Aces (with or without a kicker), 4 deuces, and threes or fours with a kicker will not mandate a W-2G. Does that mean that the $1,600 or $4,000 jackpots will be credited directly into my machine? If so, the “floor workers” who normally would receive tips for hand pays would lose that benefit. Also, some machines currently only allow a maximum amount of credits be fore they eject a ticket.Another interesting fea ture of having a large amount of money in the machine as opposed to the hand pay being in your pocket,would now require a lot of disci pline not to keep playing with your winnings!

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