#1
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Which Vegas casinos distribute chips for tournament wins?
I know at least one casino distributes tournament prize money as chips and not as a cash payout, eliminating the hassle of the tax forms. Does anyone know which casinos do this?
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#2
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Re: Which Vegas casinos distribute chips for tournament wins?
Harrahs properties require tax forms (Caesars, Harrahs, Rio. etc).
Most others do not (Venetian, Wynn etc) |
#3
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Re: Which Vegas casinos distribute chips for tournament wins?
Venetian and Bellagio did for me.
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#4
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Re: Which Vegas casinos distribute chips for tournament wins?
Most cardrooms give chips. I know Harrahs properties, Coast casinos, and Sahara all give cash.
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#5
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Re: Which Vegas casinos distribute chips for tournament wins?
How you are paid has no bearing whatsoever on whether you have to do the tax forms. Common mythconception. But yeah, all the Harrah's properties will W2G your >$599 wins. Far as I know, none of the non-Harrah's properties will (whether they pay in cash or chips).
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#6
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Re: Which Vegas casinos distribute chips for tournament wins?
[ QUOTE ]
How you are paid has no bearing whatsoever on whether you have to do the tax forms. Common mythconception. But yeah, all the Harrah's properties will W2G your >$599 wins. Far as I know, none of the non-Harrah's properties will (whether they pay in cash or chips). [/ QUOTE ] Could you clarify? I know you have to pay taxes either way, but do you have to specifically fill a seperate tax form for any tourney win? At the chip-distributing casinos, the difference is that they don't fill out the W2G at their end, right? |
#7
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Re: Which Vegas casinos distribute chips for tournament wins?
[ QUOTE ]
How you are paid has no bearing whatsoever on whether you have to do the tax forms. Common mythconception. [/ QUOTE ] Yes because everyone in the entire world is American. |
#8
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Re: Which Vegas casinos distribute chips for tournament wins?
[ QUOTE ]
[ QUOTE ] How you are paid has no bearing whatsoever on whether you have to do the tax forms. Common mythconception. [/ QUOTE ] Yes because everyone in the entire world is American. [/ QUOTE ] so why does cash/chips matter for non-americans? |
#9
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Re: Which Vegas casinos distribute chips for tournament wins?
[ QUOTE ]
I know at least one casino distributes tournament prize money as chips and not as a cash payout, eliminating the hassle of the tax forms. Does anyone know which casinos do this? [/ QUOTE ] Whether a tax form is required is not depemdent on whether you are paid in cash or chips an wish i knew why people think this is the case. |
#10
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Re: Which Vegas casinos distribute chips for tournament wins?
[ QUOTE ]
Whether a tax form is required is not depemdent on whether you are paid in cash or chips an wish i knew why people think this is the case. [/ QUOTE ] Well, the other night I asked a dealer "how much do you have to win in that tournament to need to fill out a tax form?" and he told me "we don't do the tax form thing, we pay out in chips" Was he wrong? How does it work? |
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