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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?
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.
... 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
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?
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.
... 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