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Thread: casinos who tax winnings on blackjack

  1. #11


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    Quote Originally Posted by G Man View Post
    By full of losers I mean it shouldn’t be difficult to give you chips to someone showing a loss record and cash them with no taxation since he’s not winning.
    Yes...good idea for team play, but I really wouldn't want to involve strangers.

  2. #12


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    Quote Originally Posted by Gronbog View Post
    Here is my logic. I'm interested in what others think about this. What you want to avoid is cashing in a loss after cashing in a win. You will end up taxed on money you actually lost or taxed twice on that money if you later make a comeback.

    Therefore the optimal time to cash is at the end of your trip which would eliminate that possibility. You will be taxed once and only on the amount you actually won.

    The next best interval is after you reach each new high point. This eliminates the possibility of being taxed twice and will limit the possibility of being taxed on money lost to the amount lost after your final high point. Note that your initial high point is zero. If you hit a new high for a significant amount close to the end of your trip, you might want to consider ending your play. The last thing you want with this strategy is to end up significantly down from your final high point.

    Yes, I can see your reasoning...but essentially I am looking for the optimum times to cash in...is it after winning the equivalent of 10 max bets...or 20 max bets...or what?? I really think I need to find someone to sim it and maybe plot a graph...I can't see how I can calculate it using straight maths.

    But thanks to all of you for engaging in my dilemma...

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