Is There A Strategy For Winning At Slot Machines? Your Slot Machine Strategy Versus The Casino's Slot Machine Strategy
Slots are the most commonly played game at US casinos, and slot machines are the most commonly taxed casino game. But, before taxes are taken off from your
slot machine winnings, you will have to hit a slot jackpot.
Unfortunately for slot aficionados, there is no strategy for
winning at slot machines. All slot payouts and slot jackpots are strictly random, and based on the casino's algorithm programming, and obviously luck. Some superstitious gamblers think there is a grand strategy for
winning at slot machines, but unfortunately even the most experienced slot machine player cannot discern between a
winning slot machine and one that regularly throws up lemons.
How Do You Locate The Best Slots In Vegas & Other US Casinos?
How do you locate the
best slots in Vegas and other US casinos? US casinos often place their cheapest and/or most popular slot machines in strategic locations. Sometimes casinos put their nickel slot machines in front to attract gamblers, akin to a loss leader at the front entrance of a grocery store. Or conversely, casinos may locate their most sought-out slots deep inside the casino to invite gamblers past a number of other slots and/or table games. A
winning slot machine could be located anywhere, but there are constant rumors about some slot machines being luckier than others.
Las Vegas slots are everywhere, but the
best slots in Vegas are the object of rumor, and cannot be pinpointed.
Why Do Canadians Gamble At American Casinos And Their Slot Machines?
It is all about higher chances of
slot machine winnings at US casinos. Even though the
winning slot machines, and the various
slot machine winners are not fully disclosed (American jurisdictions generally have minimum slot payout percentages), casinos within close proximity to each other (e.g., casinos on The Strip, casinos within Las Vegas and casinos within Atlantic City) are forced to compete against each other. In order to attract and keep their gambling customers from wandering to the casino next door, American casinos generally give their patrons higher percentages of slot jackpots. Gamblers are not clueless, and via experience and word of mouth, they end up gravitating towards the casinos which provide higher slot payouts. Competition amongst casinos in the US (and especially in the three largest gambling states of Nevada, New Jersey, and Mississippi) is a lot higher than in Canada. Canadian casinos can rely on a captive local market, and do not have as much of an incentive to give better slot payouts, whereas the major American casinos fight bitterly to attract and keep their patrons. Gambling at random
Las Vegas slots may not be as potentially lucrative as playing at the
best slots in Vegas, but it is still a better proposition than playing at a local Canadian casino. It is not surprising that Canadian gamblers travel to the United States by the bus and planeload every day.
Calculating The Tax On Your Slot Machine Winnings
In the United States, every slot machine jackpot of $1200.00 USD or more has 30% withholding tax deducted from the original slot machine winnings. For example, if you win $1199.99 USD or less, you would receive 100% of your slot jackpot winnings. But, if you win a $1200.00 USD slot machine jackpot, the US casino will only pay you $840.00 USD ($1200.00 USD x 0.30 = $360.00 USD deducted as 30% withholding tax). Similarly, if your slot jackpot is $3000.00 USD, you will have $900.00 USD deducted from it ($3000.00 USD x 0.30 = $900.00 USD in taxes withheld by the US casino).
Luckily, as a Canadian, you are also entitled to deduct gambling losses in the US from your US gambling winnings. For example, if you hit a $1200.00 USD slot jackpot and the IRS has deducted $360.00 USD as 30% withholding tax, but you also have ANY gambling loss in the same year, part or all of your gambling tax can be refunded. Thus, if the IRS has taken $360.00 USD from your slot machine winnings, and you have lost $1200.00 USD or more from an American casino, you are entitled to receive a tax refund for the entire amount of your slot jackpot winnings.
To make things even more complicated, some Indian tribal casinos and gambling establishments in the United States may assess the 30% withholding tax on all slot machine winnings (without the need to meet a specified threshold) for US non-residents. However, the rules for deducting US gambling losses from your slot machine winnings still apply, and you can claim a partial or full refund of the gambling taxes withheld by the IRS.
Since you can deduct any US gambling losses from your US slot machine winnings, you should document all of your gambling activity while gambling in the US. You should note the dates and locations of your U.S. casino gambling, what games you have played, and the amounts you have won and lost. Please read through the rest of our website for further information on how to deduct gambling losses to reclaim
taxes on slot machine winnings.
Slot Machine Winners: How U.S. Gambling Refund ™ Can Help You
Dealing with the IRS can be a difficult process when trying to claim back your
taxes on slot machine winnings. As an IRS Certifying Acceptance Agent, US Gambling Refund ™ can ensure a painless and efficient tax refund from the IRS. We have the knowledge and experience with both US and Canadian tax laws, and can help to get you the maximum tax refund possible with the minimum amount of fuss and delay. US Gambling Refund ™ is headquartered in Vancouver, BC, and serves Canadians and international visitors to the US. If you have had 30% withholding tax taken off, you could be eligible for a refund. We have a no refund no fee guarantee, so if you do not get a tax refund from the IRS, then we do not charge a fee!
Contact us now to see how we can help you get back your 30% withheld
slot machine winnings!
