🤑 What if You Win a Thousand-Dollar Slot Machine Jackpot? | Professor Slots

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March 5, By Jon Friedl - Professor Slots One of my biggest issues with slot machine casino gambling has been the surprises, like I won this $27, hand pay on a Red-Blue-White Seven's slot machine in the high limit slots room.


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Do you ask the casino to provide a brown paper bag, perhaps? To be ready, think it through in advance. Should I just go on with my day? Sorry about that! Are you sure? Can you imagine how I was feeling? Under those circumstances, how much cash can you carry without it being in your hand or sticking out somewhere for anyone to notice? I know because some of you have won even bigger jackpots while playing slots. And, after the hand pay, I had trouble deciding what to do next. I always remember how upset this taxable jackpot winner was whenever I work with a slot attendant. I know some of you can indeed imagine it. I swore right while looking the floor manager in the eye. I was testing to see if it was a winning slot machine. And, you have your I. Either way, for a large jackpot where you ask for cash, you can expect banded stacks sometimes called bricks of hundred-dollar bills. This includes financial crimes related to money laundering and corruption. I called out to him, to explain. I care that you have a plan. Make yourself a plan. But, I do appreciate the sentiment. Keep gambling records just in case you win a big jackpot. Basically, you need a plan in case you win a taxable jackpot. Are you ready to win a thousand-dollar slot machine jackpot? Treasury Department. Will you leave the casino or will you make a night of it? This is where I walked right into trouble. In part, it monitors and analyzes financial transactions for illegal transactions. I really do. A slot attendant comes. Slot attendants are great. That was embarrassing. Professionally, I advise you to take most or all the jackpot as a check. Treasury to confirm the source of that much cash. Make it part of your plan, okay? The danger of not keeping gambling records is having to pay income taxes when avoiding them, or getting a refund later, was entirely possible. I remember telling the floor manager how unreal and dreamlike it felt. They just nodded to themselves and started hitting the cash-out button. Or, was my plan of gambling all day ruined? What about the remainder? Luckily for me, the slot attendant arrived right about then to save me. I looked down, saw the 2,credit hit, looked up at the floor manager looking at me, and swore. I won it early on Saturday, December 21, , at a. But, there are some slight changes to this process when winning big jackpots. Do you know that look? Have fun, be safe, and make good choices!{/INSERTKEYS}{/PARAGRAPH} You can choose to walk away. If you choose to accept a taxable jackpot, then you will receive a W-2G. One final note about getting home. Nevertheless, I thought you should know about the CTR. You can always choose not to accept a taxable jackpot. The machine locks up. As the floor manager and slot attendant walked away after the hand pay, they began walking by me. Make friends, if you can. What do you do with it? Just ask yourself this simple question. You do have another choice to make, however. You do the paperwork. It was very early in the morning. Tip 2: This is your chance to meet a floor manager. That is if your plan includes requesting some or all your taxable jackpot in cash. One time I was sitting two seats away from someone who looked like they had never been in a high limit slots room at a casino. {PARAGRAPH}{INSERTKEYS}Are you ready? My lack of concern here hinges on understanding that big jackpots generate a W-2G tax form when won at a casino. It is what I remember whenever I tip my slot attendant after winning my own taxable jackpots. Get My Free Report Revealing…. I was proud of how well he handled it and told him so at the time. Unlike me, try to remember where you parked your car. Finally, you get paid. If you keep good gambling records, it usually works out well to choose to not pay federal taxes. But, at that moment, I felt the need to do so. Next up is the hand pay and more decisions. Thank me later. So far, this is my largest jackpot won playing slot machines. Apparently, as usual with income taxes, what to do is very individualized. Right about then, 30 seconds after the slot machine hit, I basically went into shock. A really big jackpot! I imagine you know what happened next. There is another aspect to accepting a lot of cash you should probably be aware of. For them, any gambling income from their annual visits to U. Be nice. Should I stick to the plan I had had in mind? Feel free to ask the casino for security to walk you to your car. I remember the moment clearly. He kept walking, now with a frown. One of my biggest issues with slot machine casino gambling has been the surprises, like winning an unexpectedly large jackpot. Someone else shows up to verify the jackpot. Ask questions. Once again, make sure you have a plan in case you win. I was just trying to be helpful. Get to know them. Anyway, they looked both nervous and like they wanted to go. I was checking to see if I could cycle my bankroll on this slot machine. So, I wrote this article so you can do better than I did and perhaps as well as Richard if you won a large taxable jackpot. After you get the hand pay, will you stay or will you go? I even asked the slot attendant to pinch me. The CTR is a reporting requirement for U. You win a jackpot. How he handled a big jackpot reminded me of what it was like. Are you ready to win a big jackpot the next time you play a slot machine?