Month: November 2023

Many times you will hear of people who have sold or exchanged a portion of their tournament action to help cover the costs of playing in tournaments. In other words, this player has agreed in advance to split his winnings with another person or a group of people. Depending on the size of the tournament, this has the potential to get the players and those people who have purchased a share in the players action in to a potentially difficult tax situation.It is the casino�s responsibility to report the winning player�s monetary win to the IRS. The casino would normally issue each winning player a W-2G form for the full amount of their win. The winning player would then add this to their tax return the following April. Slot online In the instance where the player has sold part of his action,Tax issues related to poker tournaments Articles that player can provide the casino with Form 5754. The casino is then required to issue a W-2G to each person listed on the form.

If you plan to sell a portion of your action to another person or group of people, it�s important to let everybody know ahead of time that they will be responsible for their share of the taxes. Friendships and relationships can be damaged when large sums of money are at stake. Diffuse the situation before it happens by being prepared.

This information is not to be used as tax advise. For all tax related questions, please seek the assistance of a trained tax professional.

 

You’ve probably seen that most online casinos advertisements usually offer some sort of bonus or FREE money to get you to start playing there. Like most things in the world, nothing really comes free, so before you start claiming this free money and then getting upset that you’ve been scammed, I suggest you keep reading and see how this all works.

First of all, you may ask; why do online casinos even offer this “free” money? slot

It’s part of their marketing and differentiation strategy. In a nutshell, online casinos are generally “skins” of a specific software provider, so actually behind the different owner, graphics, licensing etc under the bonnet there’s not much difference between let’s say all Playtech powered casinos, or all Microgaming powered ones.

So, if they are mostly the same below the hood, there needs to be some sort of difference which will convince you to play at “X” online casino and not “Y”. Besides the graphics, licensing, support and reputation, another way to pitch to potential players is by giving them something, in this case, a bonus.

Having put that out of the way, the next question you might ask yourself is: OK, so Casino X is offering $5,000 free, maybe I’ll sign up, take my $5,000, play them out and go on to Casino Y.

The answer here is pretty simple as well. In order to claim bonuses at at an online casino, you will usually need to make a deposit, unless it’s specifically stated that you don’t, but we’ll get to that later.

Before we sink into the beef of the different types of bonuses offered at online casinos, here are a few extra terms and points you should be aware of, so you can clarify them with a support representative before claiming a bonus, just so you know where you stand and what you’re claiming.

1. Wagering requirements: Most bonuses have wagering or playthrough requirements, meaning that you need to play a certain amount before you can withdraw winning from your account. On average wagering requirements are usually between 15 to 40 times, however pay attention to what you are required to wager. In some cases it will be just the bonus times X and in others you will need to wager the bonus + your deposit amount X times. The latter by the way is more common.

Another tidbit you should pay attention to with regards to wagering requirements is, that at most online casinos, if you request a withdrawal before you have completed the wagering requirements, all your winnings to date will be void. Not really fair, but this is reality.

2. Games played: Make sure you read the T&Cs in this case. Because slots games are generally the most profitable games for online casinos, many bonuses tend to be valid only for slots games. Usually scratch cards and keno will comply with this rule.

In other cases, you will be allowed to play your bonus on all games; however not all games will count 100% towards the playthrough requirements. For example play on slots will count 100% but roulette will only count 30%, meaning that you will actually need to wager over three times more in order to clear the wagering requirements and withdraw your winnings.

3. Minimum deposit requirement: In most cases, in order to claim a bonus you will be required to make a minimum deposit, which again can vary. It’s generally a small amount which you will probably deposit anyway. It’s usually not over $50.

Now that we’re all on the same page and speaking the same language, it’s time we went through the main types of bonuses available at most online casinos.

 

Poker is really fun game to play and a lot of people reading this will agree.

Looking at the popularity (and profitability) of poker, it was only a matter of time before it became an online phenomenon. Online Poker games are extremely popular and there are multiple reasons behind that. The main reason being the ability to play anytime, anywhere. The whole process is automated and completely secure, making it probably safer than even a real life casino. You cannot be physically robbed, you do not have to wear fancy clothes, you can eat and drink whatever you want and you do not have to pay for hotel rooms. You still get all the features of a high-class casino when you play online poker.

slot gacor From beginners to high rollers, everyone can play at these websites. Of course, unlike other casino games, you do not play directly on these websites. Instead, you have to download a software client that allows you to securely log in, choose your table and start playing. These clients are usually available for both Macs and PCs, so you do not have to worry about whether it will be compatible with your system. Anyone who has played online Multi-player games will be familiar with playing through a client.

What the client does is securely connect you with the game servers and other players. It also makes for a safer playing environment than a browser. It is built to give you the best experience possible with complete peace of mind.

There are some websites that give you bonus balance when you sign up for them. It is their way of saying thank you when you choose to join them over their competition. Some will pay your $20; others will pay you $80 or $100. There are some websites however that will pay you hundreds of dollars to join. These are of course bonus credits with which you have to play. If you win games, the money is yours to keep in most cases. It means you can try them out for almost free without worrying about breaking your bank or credit card.

When looking for a good place for online poker, you have to look at many features like reputation, payment options, countries supported, etc. One of the easier of ways of doing this research is to go to an online casino aggregator site. These sites do all the searching around for you and present you with lists of online casinos. You can then sort through these lists for the payout type or the game that you want and choose the website you like most.

Finding the right used slot machine for your home game room can be an exciting time. When buying a slot machine online or in a game room store, don’t forget to buy from a legitamate seller. Here are a few tips.

Used casino slot machines from Las Vegas-style casinos can be an exciting and unique game room addition. However,Used Casino Slot Machines – How to pick the right one for your home game room. slot Articles searching through the thousands of slot machines out there can be cumbersome and time consuming.

First and foremost, when you are purchasing used slot machine or video poker machine, check to make sure that the company you are purchasing from has a Department of Justice license. This assures you that the company shipping you the machine is legitimate and the government knows they are selling used gambling devices.

Next, find out if the machine you are looking at is a true Vegas-style slot machine, Pachislo, or a knockoff. A few ways to tell are:

1) Does the machine take tokens or real money? A Vegas style machine takes real money, a Pachislo does not.

2) Does it say IGT or AGT? Most reputable dealers will have the name of the manufacturer listed on their website with the name of the machine. If they don’t, ask. If they do, make sure the price is not too cheap. Too cheap could mean you’re looking at a knockoff.

3) Real used casino slot machines can range from $799 – $1099 for a base model. Pachislo machines are much less expensive and are made for casinos in Japan.

4) Knockoff machines, in most cases, will have a letter different from the original. For example: IGT is a real manufacturer and AGT is a knockoff.

5) Is the manufacturer of the slot machine or video poker machine still in business? If not, are parts easy to come by?

Most important, when searching for a used casino slot machine, find out if they offer a warranty. If there is a warranty, will the company you are purchasing from put it in writing? The most popular slot machines brands on the internet are IGT, Bally, Williams and Konami. Other slot machine brands are available — just make sure that you can get repair parts for these machines in case they are no longer in business.

Used slot machines and video poker machines can be fun and unique game room additions. Slot Machines & Moreprovides detailed information on the slots they sell, a one-year limited warranty, information on Pachislo Machines and a contact pageif you have any questions.