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Also, however high the return is, it's still under 100%, so it remains a losing proposition.
Also, however high the return is, it's still under 100%, so it remains a losing proposition.
Yeah, the casino owner sort of likes it that way.Am I crazy or is it true, there is a greater chance of hitting this than a $.01 slot?
Of course it is true. Manufacturers always reward higher bets with better odds.
Do the math! If you improve the player advantage by a few percentage points, but you get them to bet twenty times as much, do you think that the machine makes more or less money per hour?
Also remember that $1200 on a single spin requires tax declaration, so unless you have losses to offset these you will owe money to the IRS.
I was just wondering about this myself the other day, thinking that you'd be filling out forms every 5 minutes on the high-dollar slots, which didn't make any sense to me. So I did a little research and the way I understand it from what I've read, and I could be mistaken, the $1,200 tax thing applies only if the odds on the win were greater than 100-to-1, which would mean that on $100 slots you would have to hit a single win of $10,000 before they slapped you with a W2G.
... the way I understand it from what I've read, and I could be mistaken, the $1,200 tax thing applies only if the odds on the win were greater than 100-to-1
You most certainly are WRONG there.
Available information indicates there's no or almost no gain in extreme slot denominations. I don't remember the source, but it goes like 89%, 91%, 94%, 95% for penny to dollar slots, then 96-98% for multi-dollar slots, and actually drops a little at the very top.Also, however high the return is, it's still under 100%, so it remains a losing proposition.
Also, however high the return is, it's still under 100%, so it remains a losing proposition.
Yeah, the casino owner sort of likes it that way.Am I crazy or is it true, there is a greater chance of hitting this than a $.01 slot?
Of course it is true. Manufacturers always reward higher bets with better odds.
Do the math! If you improve the player advantage by a few percentage points, but you get them to bet twenty times as much, do you think that the machine makes more or less money per hour?
Also remember that $1200 on a single spin requires tax declaration, so unless you have losses to offset these you will owe money to the IRS.
I was just wondering about this myself the other day, thinking that you'd be filling out forms every 5 minutes on the high-dollar slots, which didn't make any sense to me. So I did a little research and the way I understand it from what I've read, and I could be mistaken, the $1,200 tax thing applies only if the odds on the win were greater than 100-to-1, which would mean that on $100 slots you would have to hit a single win of $10,000 before they slapped you with a W2G.
... the way I understand it from what I've read, and I could be mistaken, the $1,200 tax thing applies only if the odds on the win were greater than 100-to-1