Win/Loss question

My question is, while playing with a players card in the machine, they track your cash in, do they also track your wins? I%26#39;m not talking about W2G wins, but lesser amounts under $1200.00.

I know they have to track the wins on a machine for CCC, but do they associate those wins to your players card?

Bill

Win/Loss question

Yes, it tracks all wins/losses, etc. That%26#39;s how they know what to put on your year end win/loss statements (Not that they were always accurate)

Win/Loss question

%26gt;%26gt;Not that they were always accurate%26lt;%26lt; I read the IRS will accept a personal diary of visit dates %26amp; win/loss over the card tracking statement from the player%26#39;s card

So Barb, I have a hyperthetical question. If my wife plays on MY card and starts with $100. On the first spin, she hits a hand pay of $2000. but when an attendant comes over, she hands him HER players card, who gets the win on their win/loss statement?

Bill

Sorry, Hypothetical

Bill -

Switching cards complicates things and will almost certainly throw off Win/Loss Statements and W2G totals.

If your card is in the machine when a jackpot hits then the Win (+2000) is recorded in the computer under ';Slot Win/Loss'; in your account.

If MJ hands her card to the Slot Attendant to have the W2G put in her name then the ';Total W2G'; on her Win/Loss Statement will go up.

The more times this happens the further from reality the results will be at tax time. It can get very messy.

Instead let the slot attendant take your card from the machine and issue the W2G in your name. Many slot attendants wont even ask, if they do she can say ';My husband ran to the bathroom.';

C-SRT8 answered the question nicely! This happens to us sometimes, Frank has had my card in when a handpay is hit. Since my card was in, it registers on my win/loss statement, but they will write up the tax form in his name since he hands them his ID. They really don%26#39;t seem to care. Since we file taxes jointly, it doesn%26#39;t really matter to us who has the name on the W2-G anyway, and the win/loss statements are not official anyway.

First I must clarify, we don%26#39;t play on each others card, but I noticed a couple of people the other night that did this and was curious how this was handled regarding win/loss.

I used MJ and myself as to not complicate the question, but it got me to thinking, how do the casinos calculate the win loss statements.

So you are saying that if I start with $1000. cash in and lose all but $20. playing on my card, I will show a $980. loss.

Now, I hit for $2000. it will show a $2000. win in my account

but if MJ hands her card to the attendant, she will also show a $2000. win in her account?

Bill

but if MJ hands her card to the attendant, she will also show a $2000. win in her account?

No. All play is tracked through the card, and will be show as the win to whoever%26#39;s card was in. The w2-form does not change that. For example, when Frank hit his aces/kicker for 2,000 with my card in, it will show up as a win for me. Frank did not even have a card they could put it on, he never even got a players card at bellagio. Lots of people get handpays that don%26#39;t even have a card, there does not have to be a direct connection between the W2-g and the players club. You are not even required to have a players card to collect your handpay.

That makes sense.

I was wondering why the couple played on one card, but took the hand pay on the other persons name. I guess they wanted to build up one persons comp/tier score but took the tax in the others name to offset the losses. I guess they don%26#39;t file joint tax returns.

Hey Bill

I saw a lady win at Paris in Vegas and handed her hubby%26#39;s TR card to the attendant and he wouldn%26#39;t take it. He said it had to be the person playing the machine and that could be verified by eye in the sky.

As for Win/Loss that tracks play - all you put in and in theory all you win/lose - but I have seen folks remove the card when they get a spin on wheel of fortune for example to hold the winnings down so that might be a factor that can be manipulated.

If your better half won with your card in - the W/L would record your winning amount. However, I am not clear if the W2 is generated from your TR card or the paperwork they fill out when you win. Could you both get hit? Possible I would think. If you didnt report and they have a W4 or 1099 or whatever those slips I shove in a drawer every year are called - you%26#39;d have a problem.

As for what the IRS takes as proof, does anyone have 1st hand knowledge of what they accept? Is the W/L enough - do you need a log and is so I heard you need like the slots serial number - which is something I do not do.

Interesting thread. Not sure we%26#39;ll get to the bottom

pets