• Gambling Game By Income Level Slot Matching Versus Table Games Free
• Gambling Game By Income Level Slot Matching Versus Table Games Printable
• Gambling Game By Income Level Slot Matching Versus Table Games Online
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Las Vegas — the “Sin City” that can blind you with its sparkling architecture and make you fall in love with the 24/7 service of almost anything you can imagine.

Gambling income isn't limited to just card games and casinos; it includes winnings from racetracks, game shows, lotteries, and even bingo. Slot machines are games of pure chance, while table. There is bias in our data below towards larger bets, which might be expected to come from people with more income. It would be nice to be able to strip table games out of this data and leave animal racing, slot machines, and lotteries – but we play the hand we’re dealt! Gambling by Income: Interesting Stuff! So there you have it. Five Important Tips on Gambling Income and Losses August 29, 2012 – IRS Summertime Tax Tip 2012-24. Whether you roll the dice, bet on the ponies, play cards or enjoy slot machines, you should know that as a casual gambler, your gambling winnings are fully taxable and must be reported on your income tax return. For more information on.

19 Facts About Gambling Machines That Will Surprise Your Friends. By Randy Ray in General January 19, 2017 12:00 am PST. If you find video poker games with the right pay tables, you can face a house edge of between 0.1% and 0.5%. The most popular slot machine game in any casino is Wheel of Fortune. It’s based on the popular. Slot machines are the cash cows of casinos, bringing in often more than twice as much money as table games. It is easy to get a good idea of why such a case holds true. If we take a $1 slot of the traditional three reels variety, we can speculate how much money this machine will make for the casino. We can then make a comparison with a table game. For slot machines and keno, a player’s theo can be precisely determined. For those games that require strategic decisions, like blackjack or video poker, a player will rarely play well enough to get the theoretically optimal house edge. In craps, the pass line wager has a house edge of 1.41%. Low-level or slant-top slot machines include a stool so the player may sit down. Stand-up or upright slot machines are played while standing. Optimal play is a payback percentage based on a gambler using the optimal strategy in a skill-based slot machine game.

One of the most popular places to visit either before your wedding or for the wedding, Las Vegas certainly is on everyone’s bucket list.

Yet the main reason that brings people from different parts of the world to this fabulous city is definitely the vast number of hotels and casinos offering entertainment games on the highest possible level.

Although they are mainly created for the wealthy part of the population, no one will forbid you to enter a casino with a little less money. However, in that case, you should probably do quick research to learn all about the best establishments for your financial status.

The information you should look for doesn’t include only the cheapest accommodation or places to eat, but also which casino is most likely to return the money you have decided to play with.

This text will mainly be based on the game of slots — one of the most popular games in casinos for both novices and regulars, so if you are interested in finding out where you can find the best slots in Vegas, you can start taking notes.

So which casino has the loosest slots in Vegas?

Before we provide you with a list of the best casinos for slots in Las Vegas, we would like to clarify a few things. A loose slot in one casino can be programmed at a payback of 99%, while the same slot in another casino will be programmed at 90% payback. The programming is not universal and almost always differs from one casino to another.

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Also, do not expect that you will win every round with a loose slot. Though it might happen, it usually takes some time to get your winnings, even with the loosest slot that exists.

Now let’s get back to business. We have the NGCB reports, but they don’t examine casinos one by one. They do, however, break it with regards to geographical location. But don’t worry, we analysed it for you and organised the list of the casinos that you can follow to find your best slot game ever.

When it comes to the casino that has the loosest slots in Vegas the only evidence we could find was the table ranks of Las Vegas casinos according to the looseness of their video slot machines. The returns are based on sampling only five different types of machines, although the information is dated and goes back more than two years.

The table includes seventy-one casinos in Las Vegas listed according to the loosest slots and we list some of the most renowned casinos and the RTP % of sampled slots indicated.

While you are here have a look at real money slots section if you are looking to play the same Vegas slots for real money on your phone or on your computer.

Without further ado, find the list of casinos that has the loosest slots in Vegas below:

#1 Mandalay Bay

Not only that it offers over 1,200 machines, but it also gives you the opportunity to collect points when playing your favourite slots and use them for shopping later on.

RTP%: 88.87%
Location: 3950 S Las Vegas Blvd, Las Vegas, NV 89119
Find it online:https://mandalaybay.mgmresorts.com

#2 Bellagio

This hotel and casino offers a variety of slot machines to choose from and often organizes a number of high-paying slot tournaments.

The casino provides more than 2,300 reels, video reels and video poker games, as well as progressives and jackpots.

RTP%: ??
Location: 3600 Las Vegas Blvd S, Las Vegas, NV 89109, USA
Find it online:https://bellagio.mgmresorts.com

#3 Golden Nugget Las Vegas

Features the latest slot games that are highly requested by customers, and has a vast amount of slot machines starting from just one cent.

RTP%: 90.85%
Location: 129 Fremont Street, Las Vegas, NV 89101
Find it online:https://www.goldennugget.com/las-vegas

#4 Luxor Las Vegas

You can choose among hundreds of slots with denominations starting from $0.01 up to $100. Some of the loosest slots are definitely here since they still own the traditional “reel” machines, apart from the latest video slots.

RTP%: 91.92%
Location: 3900 S. Las Vegas Blvd, Las Vegas, NV 89119
Find it online:https://luxor.mgmresorts.com

#5 El Cortez

Even though it’s not a part of the Strip squad, this fellow promises 40% looser slots and still features both ticket and coin-operated machines.

RTP%: ??
Location: 600 E Fremont St, Las Vegas, NV 89101
Find it online:https://elcortezhotelcasino.com

#6 The Venetian Las Vegas

Its location on Las Vegas Boulevard South allows players to be a part of the gambling elite. It is one of the largest hotels in the world and also one of the best on the Strip.

Here you will find more than 1,000 slot machines placed on two premier floors, and at least one of them has to be quite loose.

RTP%: 86.66%
Location: 3355 S Las Vegas Blvd, Las Vegas, NV 89109
Find it online:https://www.venetian.com

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#7 MGM Grand Las Vegas

The casino possesses a great selection of progressive slots that have turned out to be lucky. Namely, some of the largest jackpots have been paid by this operator.

RTP%: 89.81%
Location: 3799 S Las Vegas Blvd, Las Vegas, NV 89109
Find it online:https://mgmgrand.mgmresorts.com

#8 Treasure Island Hotel and Casino

The casino floor is not as big as others, but this is what players sometimes need in order to be able to move from one slot to another without waiting in line for too long. They also offer a lot of different prizes including playing free slots.

RTP%: 89.32%
Location: 3300 S Las Vegas Blvd, Las Vegas, NV 89109
Find it online:https://www.treasureisland.com

#9 Harrah’s Las Vegas

The casino that still has some old-fashioned 3-reel slots promises payouts up to 98% and great progressives on popular games.

RTP%: 89.32%
Location: 3475 S Las Vegas Blvd, Las Vegas, NV 89109
Find it online:https://www.caesars.com/harrahs-las-vegas

#10 Aria Resort and Casino

Last but not least, this casino has been awarded the Best Casino for Slots by CNN Travel. If you take that into consideration, there’s no further explanation necessary.

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RTP%: ??
Location: 3730 S Las Vegas Blvd, Las Vegas, NV 89158
Find it online:https://aria.mgmresorts.com

A Few Other Casinos

• Airport in 71st place 85.02%,
• Mermaids 88.26%
• La Bayou 88.26%
• Rio 88.72%
• Mirage 89.03%
• Stardust 89.97%
• Silverton 90.57%
• Tropicana 90.71%
• Hilton 91.40%
• Boulder Station 91.55%
• Hard Rock 92.47%
• Slots a Fun 92.65%

How Do the Slots Work?

There is no surprise that all the casinos in the world usually have a lot of slots filling up every corner of the room. Players like slots since they bring a lot of excitement and are very easy to use.

They do not demand a particular skill or knowledge and have no complicated rules. Also, they require minimal investment in order to let you play, so you can keep yourself amused for a longer period of time.

In case you have wondered how slots work, the explanation is very simple. You put in the amount you want to play with, and after the machine registers it, you are good to go.

The game is pretty easy — just pull the arm or activate it with a lever or a button, depending on the machine type.

This will trigger the reels which hold different symbols to start spinning. Eventually, they will come to a halt, and you will get a combination of symbols that give a certain payout depending on how the pictures got lined up.

Now, the important thing to remember is that the house, a.k.a. the casino, always has the edge regardless of the type of game you play. It doesn’t matter if it is the good old dollar slot or a multi-reel penny machine, it is designed in a way that will always keep at least 2% of your money.

However, there is something you can do to give your winnings a little push: choose the loosest slots in the casino.

What Is the Loose Slot?

To put it simply, it is the reason why so many players decide to put their money in this machine. Every slot machine gives a different percentage of payout, meaning that some give more than others. Therefore, all players have the same goal: finding the slot machine that pays more than the rest.

That is where the term loose slot comes into the picture. It is used to describe a slot machine that pays the highest percentage and does that frequently. Another term used for such slot machines is hot slots.

Another belief is that these loose slots also have the lowest edge. In other words, if some other slots always keep 5% of your financial input, these will keep less.

Of course, these findings can make you immediately pack your bags and fly to Vegas to earn some money, but then the reason poses a question: How to find the loosest slots in Vegas?

Can Slots Be Loose After All?

You might be surprised, but the answer to this question is a big yes. Moreover, there are some tips and tricks that can help you find them in Las Vegas, and they are listed below.

First things first, there are some basic rules that can be applied in case you have never heard of loose slots before. One of them is that the more active a bank of slots is, the higher the chances are to get your money back. Usually, regular customers know which slots are the loosest, so it could be useful to first order a drink and just look around for some time.

Another saying you can often hear from the regulars is that the higher slot denomination brings higher and more frequent payouts. This basically means that a 100$ machine will, in the end, pay more than a penny-slot.

Then we have some new findings regarding the specific brands or slot games that carry the name of a famous movie. Those are said to pay quite less since the casino is also paying a fee for using the already patented product. Furthermore, the older machines are highly likely to pay more because they have already returned the money a casino invested in them.

Apart from these standard stories, there is something more convincing that can help you in your quest. Namely, all the casinos in Las Vegas have to report their revenue to the Nevada Gaming Control Board. This also includes information about the slot hold percentage. The Board then reports the statistics regarding their casino industry in which we can find our answer.

Firsthand Information

To make this guide completely real, we wanted to incorporate the response of the people who have visited Las Vegas and played slots at some of the best casinos in the world. We have checked the Trip Advisor and found some answers that support the casinos on our list.

Regarding the Mandalay Bay there are some good reviews:

My best luck on the strip over all has to be Mandalay Bay. In maybe a dozen stays, I’ve never walked away down more than a few hundred bucks, which is a win to me for 3 or 4 days of fun.

On the other hand, for somebody else, something different might work:

I think the term loosest is kinda relative. For me, I have had the best action on the strip for slots at Bellagio and Paris. I have also had some nice handpays at Aria.

Of course, some people put their trust in the casinos which are located outside the Strip, and had a good experience there:

I love this question! It is always fun to hear where people have had the most luck while in Vegas! I always stay on the strip when I’m in Vegas, but I never do any good playing there. I tend to play more downtown, or any local casino I can find. They are so much better! I love most casinos on Boulder Highway, and I love Southpoint and Silverton. But anyway…my biggest win on the strip was at Excalibur, but other than that one big win, I don’t think I’ve ever done any good there. I usually can play a while and don’t lose too bad at Harrah’s and Wynn. The worst in my opinion is Flamingo. I can’t win a dang thing there, and never have. All the others have been pretty much the same, win some, lose more….you know how it goes.

There are gamblers who believe that a person can have a dose of luck within themselves and that it has nothing to do with casinos or machines. However, from those that lose frequently, you can hear that there’s no such thing as luck and that the payouts are planned ahead.

Whichever belief you hold, only one is certain, and it is hidden in the name of casino games. They are not randomly called games of chance, and this is something you should always have in mind no matter if you find yourself in Las Vegas or any other gambling kingdom in the world.

Totaling a taxpayer's Forms W-2G, Certain Gambling Winnings, for the year would seem to be the straightforward way to determine the amount of gambling winnings to report on a tax return. Forms W-2G, however, do not necessarily capture all of a taxpayer's gambling winnings and losses for the year. How are these amounts reported and substantiated on a tax return? Does the answer change if the taxpayer seeks to make a living as a poker player? Do states tax gambling differently?

There are many nuances and recent developments under federal and state tax laws about gambling and other similar activities. With proper recordkeeping and guidance, a taxpayer with gambling winnings may significantly reduce audit exposure.

Income and Permitted Deductions

Under Sec. 61(a), all income from whatever source derived is includible in a U.S. resident's gross income. Whether the gambling winnings are $5 or $500,000, all amounts are taxable.

A taxpayer may deduct losses from wagering transactions to the extent of gains from those transactions under Sec. 165(d). For amateur gamblers, gambling losses are reported as an itemized deduction on Schedule A, Itemized Deductions. The law is not as kind to nonresidents: While nonresidents must also include U.S.-source gambling winnings as income, they cannot deduct gambling losses against those winnings. Nonresidents whose gambling winnings are connected to a trade or business may deduct gambling losses to the extent of winnings, however, under Sec. 873.

Case law and IRS guidance have established that a taxpayer may determine gambling winnings and losses on a session basis.

Neither the Code nor the regulations define the term 'transactions' as stated in Sec. 165(d). Tax Court cases have recognized that gross income from slot machine transactions is determined on a session basis (see Shollenberger, T.C. Memo. 2009-306; LaPlante, T.C. Memo. 2009-226).

What Is a Session?

In 2008, the IRS Chief Counsel opined that a slot machine player recognizes a wagering gain or loss at the time she redeems her tokens because fluctuating wins and losses left in play are not accessions to wealth until the taxpayer can definitely calculate the amount realized (Advice Memorandum 2008-011). This method is also recognized in both Schollenberger and LaPlante, as a by-bet method would be unduly burdensome and unreasonable for taxpayers. To this end, the IRS issued Notice 2015-21, which provides taxpayers a proposed safe harbor to determine gains or losses from electronically tracked slot machine play.

Under Notice 2015-21, a taxpayer determines wagering gain or loss from electronically tracked slot machine play at the end of a single session of play, rather than on a by-bet basis. Electronically tracked slot machine play uses an electronic player system controlled by the gaming establishment—such as the use of a player's card—that records the amount a specific individual won and wagered on slot machine play. A single session of play begins when a taxpayer places a wager on a particular type of game and ends when the taxpayer completes his or her last wager on the same type of game before the end of the same calendar day.

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A taxpayer recognizes a wagering gain if, at the end of a single session of play, the total dollar amount of payouts from electronically tracked slot machine play during that session exceeds the total dollar amount of wagers placed by the taxpayer on the electronically tracked slot machine play during that session. A taxpayer recognizes a wagering loss if, at the end of a single session of play, the total dollar amount of wagers placed by the taxpayer on electronically tracked slot machine play exceeds the total dollar amount of payouts from electronically tracked slot machine play during the session.

There is little to no guidance defining a session for other casino games, such as poker. Furthermore, because there are different poker game formats (cash and tournament) and game types (Texas hold 'em, pot limit Omaha, etc.), it is unclear whether the one-session-per-day analysis would apply to poker in general. A taxpayer who plays different types of poker games may have to record separate sessions for each type of poker game played each day.

In a 2015 Chief Counsel memorandum (CCM), the IRS concluded that a taxpayer's multiple buy-ins for the same poker tournament could not be aggregated for purposes of determining the reportable amount on a taxpayer's Form W-2G (CCM 20153601F). This analysis implies that the IRS may view each poker tournament buy-in as a separate gambling session. A key point leading to the conclusion was that the buy-ins were not identical because the tournament circumstances were different each time the taxpayer made an additional buy-in.

Requirement to Maintain Accurate Records

In Rev. Proc. 77-29, the IRS states that a taxpayer must keep an accurate diary or other similar record of all losses and winnings. According to Rev. Proc. 77-29, the diary should contain:

• The date and type of the specific wager or wagering activity;
• The name and address or location of the gambling establishment;
• The names of other persons present at the gambling establishment; and
• The amounts won or lost.

It is hard to believe the IRS would disallow a taxpayer's gambling loss deduction solely because the taxpayer did not write down in her diary the names of other persons at her blackjack table. The IRS does acknowledge that a taxpayer may prove winnings and losses with other documentation, such as statements of actual winnings from the gambling establishment.

Special Rules for Professional Gamblers

The professional gambler reports gambling winnings and losses for federal purposes on Schedule C, Profit or Loss From Business. A professional gambler is viewed as engaged in the trade or business of gambling. To compute business income, the taxpayer may net all wagering activity but cannot report an overall wagering loss. In addition, the taxpayer may deduct 'ordinary and necessary' business expenses (expenses other than wagers) incurred in connection with the business.

Whether a gambler is an amateur or a professional for tax purposes is based on the 'facts and circumstances.' In Groetzinger, 480 U.S. 23 (1987), the Supreme Court established the professional gambler standard: 'If one's gambling activity is pursued full time, in good faith, and with regularity, to the production of income for a livelihood, and is not a mere hobby, it is a trade or business.' The burden of proof is on the professional gambler to prove this status.

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Despite receiving other forms of income in 1978, Robert Groetzinger was held to be a professional gambler for the year because he spent 60 to 80 hours per week gambling at dog races. Gambling was his full-time job and livelihood. Notably, Groetzinger had a net gambling loss in 1978. Thus, actual profit is not a requirement for professional gambler status.

In addition to applying the standard established in Groetzinger, courts sometimes apply the following nonexhaustive nine-factor test in Regs. Sec. 1.183-2(b)(1) used to determine intent to make a profit under the hobby loss rules to decide whether a taxpayer is a professional gambler:

• Manner in which the taxpayer carries on the activity;
• The expertise of the taxpayer or his advisers;
• The time and effort the taxpayer expended in carrying on the activity;
• Expectation that assets used in the activity may appreciate in value;
• The taxpayer's success in carrying on other similar or dissimilar activities;
• The taxpayer's history of income or losses with respect to the activity;
• The amount of occasional profits, if any, that are earned;
• The financial status of the taxpayer; and
• Elements of personal pleasure or recreation.

What if a professional gambler's ordinary and necessary business expenses exceed the net gambling winnings for the year? In Mayo, 136 T.C. 81 (2011), the court held the limitation on deducting gambling losses does not apply to ordinary and necessary business expenses incurred in connection with the trade or business of gambling. Therefore, a professional gambler may report a business loss, which may be applied against other income from the year.

Limitations on Loss Deductions

Some states do not permit amateur taxpayers to deduct gambling losses as an itemized deduction at all. These states include Connecticut, Illinois, Indiana, Kansas, Massachusetts, Michigan, North Carolina, Ohio, Rhode Island, West Virginia, and Wisconsin. A taxpayer who has $50,000 of gambling winnings and $50,000 of gambling losses in Wisconsin for a tax year, for example, must pay Wisconsin income tax on the $50,000 of gambling winnings despite breaking even from gambling for the year.

Because professional gamblers may deduct gambling losses for state income tax purposes, some state tax agencies aggressively challenge a taxpayer's professional gambler status. A taxpayer whose professional gambler status is disallowed could face a particularly egregious state income tax deficiency if the taxpayer reported on Schedule C the total of Forms W-2G instead of using the session method under Notice 2015-21. In this situation, the state may be willing to consider adjusting the assessment based on the session method if the taxpayer provides sufficient documentation.

Changes Ahead Likely

Tax laws addressing gambling and other similar activities will continue to evolve as new types of games and technologies emerge. Some related tax issues that will come to the forefront include session treatment for online gambling activity and whether daily fantasy sports are considered gambling. As more and more states legalize online gambling and daily fantasy sports, Congress or the IRS will have no choice but to address these issues.

EditorNotes

Mark Heroux is a principal with the Tax Services Group at Baker Tilly Virchow Krause LLP in Chicago.

For additional information about these items, contact Mr. Heroux at 312-729-8005 or mark.heroux@bakertilly.com.

Unless otherwise noted, contributors are members of or associated with Baker Tilly Virchow Krause LLP.