Presenting Identification

[Freightman]

It is really often times a losing battle with the ID thing. As a general rule of thumb, I try to keep cashouts under 5k at a time, some under 3k depending on the sweatiness of the joint. This is incredibly difficult when I often times have around 10-20k chips from a store I have to cashout. You should try to go to different cages at a property and avoid the HL cages from my experience. At larger stores, you can cash out 3-5k at one cage, then go to the cage upstairs or downstairs and do another 3-5k. Then wait until shift change and do some more. Some places, you can also cash out your chips at the poker cage.

When they insist for your ID, it generally becomes a mess, I've had everything from them pushing my chips back (for a measly amount of 4k), to a full blown get the shift mgr, gaming commissioner and even police involved. In the past I have used the, I respectfully decline for anything under 10k, but then often times they just refuse to cash out your chips and for the people that say, well do it another time, nope, you wish. Your picture is put in the cage and ID is insisted upon. Haha, one time, I even tried to get a family member to cash out my chips, but nope, they said, you gotta prove when you played. In my experience, it's best to try and split it up into some smaller transactions over several shifts/cages.

Structuring - read up on it.

[ZenMaster_Flash]

A 1,000 to 1 payoff NEVER triggers anything IF the bet is very small.

Where you get this ludicrous 300 to 1 notion is beyond me.

If you bet $10 or $15 and collect at odds of 300 to 1 you simply get paid.

Name a property where what you said is correct ~ or ~ retract the misinformation.

[Sharky]

A 1,000 to 1 payoff NEVER triggers anything IF the bet is very small.

Where you get this ludicrous 300 to 1 notion is beyond me.

If you bet $10 or $15 and collect at odds of 300 to 1 you simply get paid.

Name a property where what you said is correct ~ or ~ retract the misinformation.

t.

seriously???....OK...it is an org call irs.gov...maybe you have heard of em'

simple google w2G and even the form explains why you received it...never got one? big surprise

[21forme]

A 1,000 to 1 payoff NEVER triggers anything IF the bet is very small.

Where you get this ludicrous 300 to 1 notion is beyond me.

Incorrect. Just as a $1200 machine payout triggers a W2G, so does a 300:1 table game payout, regardless of the amount.

[ZenMaster_Flash]

seriously???....OK...it is an org call irs.gov...maybe you have heard of em'

simple google w2G and even the form explains why you received it...never got one? big surprise

Your (characteristic) sarcasm is a loathsome (hostile) character flaw.

You are emphatically WRONG. Try learning instead of being defensive.

The following has NOTHING to do with Casino Table Games.

They are specifically excluded by the I.R.S. as are small Lottery winnings.

The [300-1] requirement is ONLY for Race Track winnings.

It stipulates that at odds of 300-1 [or greater] IF the wager was for $2.00 or more it is taxable.

To counter that, ALL racetracks in the USA - a generation ago -- initiated $1 wagers

so that the minimum cash-out jumps from $600 to $1200 PER WAGER.

Horse players are permitted to buy as many small denomination tickets as they so choose.

In recent years, most racetracks moved the minimum wager for bets with very big payouts

(i.e. "Superfectas / Trifectas") to 50¢, then some moved to 25¢

Currently there are some tracks selling 10¢ Superfecta tickets, e.g. Gulfstream Park in FL.

In those cases a Superfecta payout needs to be in excess of $12,000 to trigger a tax form.

NOTE: Every racetrack I have ever been involved with has "10%'ers" -- who will illicitly cash

winning big tickets under false names and Soc. Sec. Numbers for 10% of the face value.

[Orangechip2]

Structuring - read up on it.

Anonymity > 'Allegedly Structuring'

Thanks for the read MasterHou - problem is I typically don't travel to the stores that have multiple cages, being many of my local places are small or only open the second cage on weekends. I would never try what you suggested in home store for obvious reasons, however, my next trip out of town if I am solo I will certainly be scouting multiple cages .

[ACFERRET]

In New Jersey, It is not appropriate for the casino to refuse to redeem chips conditioned upon the collection of Identification.

This is because the statutory provisions of Casino Control Act require regulations to govern the conditions and limitations on the exchange of negotiable instruments. Where the Commission has the sole authority to regulate all practices related to gambling in new jersey, and the regulations are void of any condition or limitation pertaining to the redemption of chips relating to collection of Identification.

Absent a regulation authorizing the casino to refuse to redeem chips when patrons fail to present identification, It is effectively unlawfull for a casino in NJ to impose a condition of identification at all while redeeming chips or slot vouchers. This argument is a spinoff of the USTON model ruling only aimed at a different activity. I tried it in a brief on the same subject and a superior court judge agreed.

-------------------------------------------------
On the topic of 300:1, I was in missouri once and was told by a cage manager that Missouri gaming regulations required some kind of action when a win was over XXX or a payout was over 300:1. While i never looked into it because my gut told me it was bullshit, , and lets be real, i have heard a lot of false information especially from cage employees, it is entirely possible that it could be a requirement of a state gaming regulation.

[ZenMaster_Flash]

"On the topic of 300:1, I was in missouri once and was told by a cage manager that Missouri gaming regulations required some kind of action when a win was over XXX or a payout was over 300:1. While i never looked into it because my gut told me it was bullshit, , and lets be real, i have heard a lot of false information especially from cage employees, it is entirely possible that it could be a requirement of a state gaming regulation."

Absurd. If this was real … a $1 bet at Keno or even a trifling amount on a "penny slot machine" could force taxable situations all day long.

[LVBear584]

It has to be 300 x the wager AND $600 or more to be reportable by the payer.

http://www.irs.gov/instructions/iw2g/ar02.html

[Sharky]

Your (characteristic) sarcasm is a loathsome (hostile) character flaw....

THANKS!....coming from the most arrogant, stubborn, condescending smuck on the site (perhaps planet) i'll take that as a complement

...Absurd. If this was real … a $1 bet at Keno or even a trifling amount on a "penny slot machine" could force taxable situations all day long.

it specifically states "except from BING, SLOT MACHINES, KENO and poker tournaments"....you should try READING old man, instead of continuing your USELESS BABBLE.

[Norm]

State Withholding Taxes on Gaming Winnings
American Gaming Association
January 22, 2014

FederalIIRS	Reportable Gambling Winnings The Internal Revenue Service (IRS) requires certain gambling winnings to be reported on Form W-2G if: The winnings (not reduced by the wager) are $1,200 or more from a bingo game or slot machine. The winnings (reduced by the wager) are $1,500 or more from a Keno game. The winnings (reduced by wager or buy-in) are more than $5,000 from a poker tournament. The winnings (except winnings from bingo, slot machines, keno and poker tournaments) reduced, at the option of the payer, by the wager are: $600 or more, and At least 300 times the amount of the wager , or 5. The winnings are subject to federal income tax withholding (either regular gambling withholding or backup withholding).
Colorado	State withholding requirements are the same as federal thresholds
Delaware	State withholding requirements are the same as federal thresholds, with the exception of Keno.DE issues a W-2G for Keno winnings of $600 or more, not reduced by the wager .
Florida	State withholding requirements are the same as federal thresholds
Illinois	No state withholding requirements . Patron is given the option to request state withholding if he or she desires it after a gaming win that meets or exceeds federalthresholds .
Indiana	State withholding requirements are the same as federal thresholds
Iowa	State withholding requirements are the same as federal thresholds
Kansas	State withholding requirements are the same as federal thresholds
louisiana
Maine	State withholding requirements are the same as federal thresholds
Maryland	If winnings total more than $5,000, Maryland income taxes will automatically be withheld. If prize money totals between $500 and $5,000, one must file Maryland Form 5020 and pay the tax on that income within 60 days from the time you receive the prize money. If win is less than $500, one doesn't have to file Form 502D, but they still must report the winnings and pay tax on it when they file their annual state income tax return.
Michigan	State w ithholding requirements are the same as federal thresholds
Mississippi	State withholding requirements are the same as federal thresholds . State withholdingtax is 3%.
Missouri	State withholding requirements are the same as federal thresholds

Nevada	No state withholding requirements
New Jersey	State withholding requirements are the same as federal thresholds
New Mexico	State withholding requirements are the same as federal thresholds
New York	Winning is reportable if the prize reduced by the wager is $600 or more and the prize is at least 300 times the amount of the wager. Prizes over $600 but less than $5,000 with no tax ID #are subject to backup withholding. Finally, there is a mandatory withholding on all prizes over$5,000.Any winnings of $600 or more are subject to the following offsets (in order): Child Support: 100% of the prize after mandatory withholding Public Assistance: 50% of the prize after mandatory withholding -NY State Tax Arrears: 100% of the prize after mandatory withholding
Ohio	State withholding requirements are the same as federal thresholds (for casino gaming), and operator shall deduct and withhold OH income tax from person's winnings at a rateof four percent.
Oklahoma	State withholding requirements are the same as federal thresholds
Pennsylvania
Rhode Island	State withholding requirements are the same as federal thresholds
South Dakota	State withholding requirements are the same as federal thresholds
West Virginia

[Three]

Structuring is cashing out in increments to avoid the IRS paperwork. Cashing out in increments to avoid showing ID is not trying to avoid the IRS paperwork. The law writes in your motivation to actually be in violation. Maybe the thought police won't buy your explanation but if your motivation is to avoid showing ID so the casino has no name to use if they back you off, you are not structuring. If you don't want them to have your ID to add to paperwork to give to the IRS you are structuring. That is how the law is written. Your motivation must be to avoid the paperwork required to be submitted to the IRS. So legally you are not structuring if you simply don't want the casino to know who you are for other reasons. If you declare said winnings on your taxes and can prove you have done the same on previous tax returns you should be able to beat structuring charges but good luck convincing the thought police what your motive is.

[Freightman]

Structuring is cashing out in increments to avoid the IRS paperwork. Cashing out in increments to avoid showing ID is not trying to avoid the IRS paperwork. The law writes in your motivation to actually be in violation. Maybe the thought police won't buy your explanation but if your motivation is to avoid showing ID so the casino has no name to use if they back you off, you are not structuring. If you don't want them to have your ID to add to paperwork to give to the IRS you are structuring. That is how the law is written. Your motivation must be to avoid the paperwork required to be submitted to the IRS. So legally you are not structuring if you simply don't want the casino to know who you are for other reasons. If you declare said winnings on your taxes and can prove you have done the same on previous tax returns you should be able to beat structuring charges but good luck convincing the thought police what your motive is.

Just rethinking my first answer to you.
It may be legal, but do you really want the aggravation. If I recall, you are responding to someone who is potentially cashing out in excess of 10k within a 24 hour period. I think you should rethink your opinion here. There is a large expense in fighting a structuring charge that could potentially put you in jail. The Government gas these rules in place for a reason - not sure they really care about your UD issues. Last but not least, if your going to go past 10k, might as well blow way past it.