Slot Pulls..anyone ever won big?

[Red-Sol]

Hi Folks,

 

While I know chances are remote...I was wondering what would happen during a slot pull if anyone hit it big...how would the taxes be handled?

[txagfan]

It would be a pain in the ass. If you're lucky someone in the group has a gambling problem and would have losses to offset the win and be willing to claim the prize and distribute to the participants.

 

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Edited August 18, 2016 by txagfan

[xriva]

I would think each person would be responsible for their portion, but if you needed statements from the casino, it might get interesting.

 

The simple way to solve this is how we did it a couple of years ago. One of our players hit a $1000 pull just after the slot pull ended. Ouch. We were all standing around, waiting to cash out.

[mom2tcdx2]

On our slot pull I think the one playing it when the spin was hit, was the one who claimed it. He hit $1000, that was then divided among 23 of us. I don't recall though doing anything special in terms of the win and we didn't all list as being part of it. Not sure if he typically had enough gambling losses anyway and didn't mind or if they didn't even give him a form for it.

[mafig]

I don't think a form is required for $1,000. I thought it was higher ($2,000?). I remember reading that's why a lot of slot jackpots are $1,999.

 

Can't speak from experience. The most I've ever won at slots is $600. DH won around $900 once. It didn't require any form.

[gary222]

Is there a service charge on your winnings?

[denatravels]

I would like to have this problem!!

 

 

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[pspercy]

My best is $400. I'm sure they've more than got it back:)

 

I saw a guy win thousands on a poker machine, more than once, on a Royal Carrib transatlantic. They just counted out the $$ on the spot. Anyone else come across "Mr Dennis"?

 

Closed loop cruises out of a US port might get you a 1099 if over a certain amount?

Edited August 18, 2016 by pspercy

[Casino Comp Chick]

A 1099 is given out on any jackpot over $1200.00. If you have a Canadian in the group they should cash it out, it is tax free for them.

[TYSONBOXER]

My daughter in law hit for $2500 last week on the breakaway. They gave her a 1099 for. That means she has to declare it when doing her taxes. She will have to pay tax on it.

 

 

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[david_sobe]

I never won big. In 2009 the Jewel used to have a wall of winners in the casino. They had photos of some $2500 winners and even a $5000 winner. Nothing HUGE though. But the years between the "big" winners tells the whole story. It was years between the big winners. You can imagine the amount of slot pulls between the big winners.

They always promote a chance at $10k at bingo. That does happen but about every 5 years or so. During bingo on the Sky one of the workers was telling the story of this grandma who was cruising celebrating her birthday and won $10k at bingo. It was many years before my sailing so it put things in perspective. NCL like any cruise line will never comment on their casino. But its no secret the casinos at sea are much tighter than Las Vegas.

[Cruisin'Christine]

On my last cruise, I won $500 playing slots twice, for a grand total of $1000. And as soon as I won each $500, I stopped and kept it. I am the type who only plays about $20 per visit (maybe 3 times during the cruise), so it was awesome. Never had to pay any tax.

[bobg529]

The CC group won over a grand on my last cruise, I think we each cleared like $70 when we split it up. We had s Canadian among us and she took in the prize so no taxes![emoji106][emoji3][emoji383]

[riddle]

You only get a 1099 if one win is over $1200 or over. On your taxes it can be offset by any losses in the year. You need to itemize in order to use the losses as an offset.

[cb at sea]

Slot pulls are divided by ALL players...no way to win enough to incur taxes!

[bbixler18]

Slot pulls are divided by ALL players...no way to win enough to incur taxes!

 

If the spins pays $1,200 or more someone will have to claim the prize. Anything $1,200 or more requires a hand payout by the casino and you will be handed a 1099 for the IRS. Doesn't matter how much you bet or how many people were in the pool, it only matters that the single spin resulted in a win of at least $1,200.