Casino Reviews

Have you ever found a slot ticket left in a slot machine? It just sits there in the printer slot after the previous player forgot to take it out and left it there. If it is for a small amount, there really is no concern, however larger amounts present an issue for many people. Even small amounts sometimes are challenged by the previous players when the eventually realize that they forgot to collect their slot tickets.

Slot Ticket Left in a Slot Machine

Every slot ticket has a serial number. They are date stamped, time-stamped and stamped with the machine they were removed from. They contain a lot of information and are easily traceable.

It is just not worth it to keep the ticket and play it or cash it. A small amount of money is not worth the embarrassment of a public confrontation or being accosted by security.

When a ticket is forgotten and the player comes back to collect it, they have several options. They can ask for the ticket and if refused, can also call security. Security can checked the videos to confirm who removed the ticket. If necessary track them through the casino and challenge them for the ticket.

This actually happened to a friend of ours. She waited over half an hour to see if the previous player was going to come back. They did not so she put the ticket in her purse and walked away to another slot machine. Security eventually caught up with her and demanded the ticket back.

Fortunately, she still had the ticket and provided it to security. Otherwise, she would have had to come up with the cash and return it to the original player. They had tracked her through the casino and easily found her to confront her about the lost slot ticket.

The moral of the story is that you should not spend it. If it is truly a large amount, call security immediately and report the situation.

How many times have you found credits left in a slot machine? It has happened to many of us and we all wonder what we should do. When you stop to think about it there is an answer to the question and it is really quite simple. The money is not yours and you should not spend it, take it or gamble with it. In 99% of the cases most casino patrons will realize that they have left their money in the slot machine and will come back for it. You really do not want to be embarrassed and have casino security demanding that you repay the forgetful player.

Credits left in a Slot Machine – Why?

If it is a small amount, let’s say a couple of dollars at the most, no one is going to worry too much about it. If it is more than that then you should take a few steps to protect yourself from embarrassment or worse. Why you ask? Here is what could happen and actually did happen to a friend of ours.

She found $87 in credits left in a slot machine one day. She waited for 5 or 10 minutes and when no one came to claim the credits she pressed the cash out button and received the slot ticket. Once she had the ticket, She then played her own money in that slot machine. After 30 minutes or so, she decided to move to another slot machine and wandered around the casino, in fact going to the other end, still with the $87 slot ticket in her purse.

A short while later a security guard approached her and asked if she had the ticket. The original player finally remembered, went back to the slot machine and found no credits in the machine. She then went to security who pulled up the video, saw our friend remove the money and then followed her around the casino until a security guard could physically track her down.

She naturally gave up the ticket, but what if she had spent the money or worse denied the claim. Now she would be pulled into the security offices and a possible charge levied against her. No one wants that. So the moral of the story is, do not spend the credits left in a slot machine. Someone will remember and security will track you down.

As we near the end of the year it is time to request win loss statements in January. Check with all casinos that you have a slot card with and request the win loss statement to calculate your refund from the slot winnings that you received during the year. Remember that you must have a slot card. This is the only way that the casino can track how much you have gambled and lost during the year and provide a report to you. Once you complete your IRS tax filing you must file it by April 15 of each year. this applies to all US citizens as well as foreigners who want to reclaim some of the taxes that were deducted at source  i.e. at the casino from your winnings.

Time to Request Win Loss Statements – Example

Only US winnings over $1200 are taxed. If you are not from the United States, the casino will deduct 30% on the spot. The above winner won $9000 on the above combination, but had to pay $2700 in taxes immediately. They need a win loss statement.

Consumers are often surprised at how much they actually gambled when they get their statement. Often when playing with $20.00 it is not uncommon to play for over half an hour. Some times you win and sometimes you do not. But during that time, you can win over $100 in small jackpots. It is not enough to stop and your balance may never go over $30. However your loss at the end of it all is $120 while you won $100 for a net loss of $20. It is this loss that you are looking for on your win loss statement.

Every $20 of loss, nets $6 in refund depending on your other claims and income. It can be well worth the effort to request these statements.

Remember that the IRS has been auditing claims so keep all of your records.

Can also hire a professional but they will need the same information to complete your return.

If you won this jackpot at the Beau Rivage you would definitely need to request Beau Rivage Biloxi Win Loss Statements to recoup some of the tax that you either paid on the spot or will pay once you complete your income tax forms before April 15th. This particular jackpot paid $9000 and the casino may have deducted $2700 on the spot in income tax. That’s a lot of money and something you want to go after. It is relatively easy to do and you will certainly get some of your winnings back from the IRS. Even if you are from another country, there is a way to recoup some or all of the tax deducted on the spot from your winnings. The first step is to request a win loss statement.

Beau Rivage Biloxi Win Loss Statements

What is a Beau Rivage Biloxi Win Loss Statement? Basically it is an official report that tells you much money you won in the past year and how much your lost in the past year. You will either have a net loss or a net win which you can claim. Claiming a net loss means you get some money back on those wins over $1200.

Request your win loss statement from all casinos you play at after Jan 1st. You should receive them within a few weeks. Depending on how much you have won, you may want to get all of the statements from all of the casinos to maximize your total loss and claim your money. Call your slot host or log into your online account and request the win loss statement. Many are automated and can be requested online, downloaded and printed at your home.

Collect from all casinos no matter how much you played. Remember that you must have used a slot card at each of these casinos. This is the only way that the casino knows how much you  wagered and the only way you can request a statement.

File before April 15 as per the usual deadline. If you have all of your information you can file earlier and hopefully receive a refund that much earlier as well. The IRS has been doing audits lately so some returns are late being assessed and refunds issued.

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If you are planning a trip to Atlantic City and staying at one of the casino hotels it is important to ask, what casino hotels are still open in Atlantic City. We will answer this questions and give you a status update on each one as of the time of writing this post. There is no question that Atlantic city is struggling due to a number of reasons including competition from other casinos in surrounding states. As well as economic issues related to taxes and tolls just to get there. For many patrons, it is just easier to go to their local casino.

What Casino Hotels are Still Open in Atlantic City

The following are still open and doing relatively well compared to results in 2013. After each hotel name we show the total revenue and the percentage change from 2013.

Borgata: 687.2, +10.7 percent
Harrah’s: 365.3, +2.5
Caesar’s: 330.6, -1.7
Tropicana: 297.2, +29.9
Bally’s: 224.8, -8
Trump Taj Mahal: 215.8, -16.9
Golden Nugget: 185.5, +48.4
Resorts: 139.3, +6.6

It should be noted that Trump Taj Mahal has been purchased and recently closed. Restructuring and union concessions have not worked out to allow the casino and hotel to stay open.

The remaining hotels and casinos are still open. However it should be noted that Caesars Corporate is going through bankruptcy proceedings. They own three of the above hotels.

Closed

Showboat: $110.5, closed Aug. 31
Revel: 98.1, closed Sept. 2
Trump Plaza: 45.4, closed Sept. 16
Atlantic Club: 3.9, closed Jan. 13

The Revel has been purchased. But is not near reopening due to lawsuits and fines from the city that are still under discussion.

The Trump Plaza casino will stay closed for at least 10 years as part of a tax savings measure.

The Atlantic Club is still closed. However, there are proposals to refurbish it into a water park and upscale hotel