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Yes, Bill, and it may get worse. A reportable jackpot may not even offset your losses from when you sat front-and-center on that same machine one hour prior.5 percent for five dollars and above....

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With tens of thousands of us non-gamblers showing up, I am curious to know if the casino can flip a switch to make the machines hold more, or, if that is not possible, swap out the machines to ones that are tighter. If anything, I believe the W2-G limit should be raised to at least ,500.Those 0 jackpots will not only trigger a tax form, but if you play another hour or two, your taxable winnings will probably be long gone by the losses you incur, and your tax liability will still be outstanding....

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Unquestioning tourists are safe, for now. With tens of thousands of us non-gamblers showing up, I am curious to know if the casino can flip a switch to make the machines hold more, or, if that is not possible, swap out the machines to ones that are tighter. Also, what are some of the expected returns that I will find on slot machines on the Strip where I am staying? Marv B....

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The only time that a machine is swapped out is when management believes it is underperforming or decides to convert the machine to a newer or more popular model.At present, the fortuitous player winning a ,200 jackpot will find that the machine automatically shuts down until a casino employee arrives with your W2-G.Earlier this year, as part of an expansive rewrite of gambling tax law, the IRS put forward the idea of lowering the mandatory reporting minimum for slot machines to 0....

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Believe me, Marv, it is no bang-bang deal when they do.MACAU, June 25, 2015 — Melco Crown Entertainment, owner and operator of casino gaming and entertainment resort facilities in Asia, proudly unveils the epic movie-inspired Golden Reel Ferris wheel as the iconic centerpiece attraction of the Company’s soon to open US.Gambling Wisdom of the Week: “How the IRS views gambling is a murky, swampy, stinky cesspool, so wide that it’s extremely difficult to maneuver around....