RoR in Video Poker

[jimmybond007]

How in the world did you come up with $18,000 hourly lol...

(Sq Root(# hands/hr)) * 6.47 (SD of DDB) * wager per hand (125$)

[Joe Mama]

I believe federal withholding at 25% is required on $5000+. You will get about one 4 of a kind per hour paying more than $5000.

This doesn't reduce EV if you get it all refunded, but hurts your cash flow with the feds holding your money interest free.

[Joe Mama]

(Sq Root(# hands/hr)) * 6.47 (SD of DDB) * wager per hand (125$)

So for a random hour of play, 95% of the time you will be between +$36,100 and -$35,900.

[blueman]

I hit four 4s with a 3 kicker for $20,000 and they did not withhold any, they gave me 200 hundos. I just have to claim it on my taxes, which is no problem since im a pro gambler and itemize.

And i did not see SD at the end of 18,000. Good call i in fact was drinking lol

[AndretheGiant]

I believe federal withholding at 25% is required on $5000+. You will get about one 4 of a kind per hour paying more than $5000.

This doesn't reduce EV if you get it all refunded, but hurts your cash flow with the feds holding your money interest free.

There is no federal witholding required if you are a U.S. citizen.

[RS]

There is no federal witholding required if you are a U.S. citizen.

Indeed. Although, if you'd like, you can request them to withhold it, so you can try to fight and get it back later (or for the lazy ones who say f*** it). Where state withholding is required (states in midwest and south tend to do this), playing this game would be a loser.


In the long run, this game is most likely a net loser anyway, due to taxes at the end of the year, assuming you're reporting your winnings accurately. A winning year will cost you however much you owe in taxes (~30%?), while a losing year won't recoup any of that. Actually, I think you may be able to write off previous years' losses against current or future wins, not entirely sure on that, though.


If my math is right, the N0 is about 21 million hands. At 500 HPH that's 42,000 hours. At 2,000 hours per year, that's 21 years.

[AndretheGiant]

In some of the states you can file and get some of it back,but in some you can't and if there is city witholding like in Ohio you can't get that back.

[Joe Mama]

[QUOTE=RollingStoned;213919
If my math is right, the N0 is about 21 million hands. At 500 HPH that's 42,000 hours. At 2,000 hours per year, that's 21 years.[/QUOTE]

Wow, full time job for 21 years. This also assumes you are playing perfectly for 21 years

[Joe Mama]

I think this is a great example of considering the variance of an opportunity, rather than the EV alone.

[blueman]

Indeed. Although, if you'd like, you can request them to withhold it, so you can try to fight and get it back later (or for the lazy ones who say f*** it). Where state withholding is required (states in midwest and south tend to do this), playing this game would be a loser.


In the long run, this game is most likely a net loser anyway, due to taxes at the end of the year, assuming you're reporting your winnings accurately. A winning year will cost you however much you owe in taxes (~30%?), while a losing year won't recoup any of that. Actually, I think you may be able to write off previous years' losses against current or future wins, not entirely sure on that, though.


If my math is right, the N0 is about 21 million hands. At 500 HPH that's 42,000 hours. At 2,000 hours per year, that's 21 years.

What about if you factor in free play?

I havent played this game yet, only been playing the $5 nsud game, and for next month i have $1900 in total free play.

Ive only put in a few 2 hour sessions.

[Joe Mama]

A whole different animal with free play. One of the better VP opportunities I had was getting 1% free play in mailers plus other things like drawing entrie. You may have to gauge this through trial and error; there may be a maximum free play mailer $$ amount.

[blueman]

A whole different animal with free play. One of the better VP opportunities I had was getting 1% free play in mailers plus other things like drawing entrie. You may have to gauge this through trial and error; there may be a maximum free play mailer $$ amount.

How do i gauge this, just keep track of how much i run through the machine then see how much fp i end up getting?

[Joe Mama]

How do i gauge this, just keep track of how much i run through the machine then see how much fp i end up getting?

That's what I did, got up to $400K/mo. throughput with $4K mailers, then the joint changed all their pay tables. Got to know some others playing there and asked what they were getting in mailers. Overheard a host talking about mailers being 1%.