Anyone win in casino ?

[EyeSeaEwe]

Any winnings over $1200 are subject to W-2G tax forms (for American citizens) which are given to you on the spot.

 

Tracy

 

 

Partially true. It is not necessarily the amount you win that determines if the casino needs to document the winnings. It is the odds of hitting the win. All that aside, the fact that the casino does or does not have to document your win has nothing to do with whether you are supposed to declare the winnings on your tax returns. In teh USA 100% of ANY gambling winnings of ANY amount are fully taxable.

[Davechipp74]

With a starting budget of $500. for a week long cruise, the most I ever left the ship with was $3,700. That was not a jackpot win but rather after playing Blackjack off and on through out the week.

[EyeSeaEwe]

Do you think NCL is losing money in the casinos? How much did others have to lose to allow others to win? If you win over $1,200 as a US citizen it must be reported as income and the losses can be taken as an itemized deduction up to the winnings. So if one does not itemize deductions but spent $1,500 to win $1,200, not only did you actually lose $300, but you paid tax on $1,200. Not much of a win.

 

 

If you win ANY amount it is taxable. The $1200 you are speaking of is what the payor must document. That is a separate issue form the obligation of the winner to report ALL winnings as taxable income. You are correct of course about being able to write off losses up to the amount of the wins.

[geegee1]

Years ago on HAL a bunch of us were cleaning up at the craps table all cruise long. So much so that they sent what I had to assume was either the head of the casino or some other high ranking person. The Stickman asked him why he was there, his response was "This table has lost $12,000 this week and we want to know why".

 

Then this past February the guy next to me on the Breakaway was really cleaning up on the craps table as well. So much so that they started to critique the way he was throwing the dice.

[A4Audigirl]

Of course you are obligated to report. They will not give you any documentation on table wins period whether over 1200 or not. I can assure you I'll get a printout of win/loss from all casinos (including land based) and I'm just hoping my losses are break even with that win.... Somehow I would doubt that though [emoji38] ...always seem to lose overall but it's all in the entertainment value to me.

Edited December 10, 2015 by A4Audigirl

[kabbpres]

We were on the Spirit last week. 11/28 and someone won $64,000.00 He was on a dollar to 100 dollar slot and bet 100. Hit 7 double diamond double diamond. 640 credits x bet.... 64000.00 NCL gave him a t-shirt. LOL I was in line cashing a ticket and saw them. Very happy for him and wish it would happen to me.

[markf]

keep in mind that there are no controls on the slots--No Nevada Gaming board or NJ gaming comm. watching over the ships casino.

But you can get lucky..I would say one would be better off playing roulette or black jack or craps

[sjbdtz]

Do you think NCL is losing money in the casinos? How much did others have to lose to allow others to win? If you win over $1,200 as a US citizen it must be reported as income and the losses can be taken as an itemized deduction up to the winnings. So if one does not itemize deductions but spent $1,500 to win $1,200, not only did you actually lose $300, but you paid tax on $1,200. Not much of a win.

 

Don't you only pay tax on the $300? $1200 win less deductions up to $1200 from the $1500 spend...

 

100% WONG. ALL gambling winnings are taxable in the USA. This includes anything won in a casino, any lottery winnings, and any other gambling winnings of ANY amount.

 

Are you insinuating only Asian people play table games?

 

 

 

Stephen

 

 

.

[lenquixote66]

Anyone ever win much or see anyone win in the casino??

 

 

I won $847 on a $3 slot machine bet recently .I have yet to lose in a cruise ship casino .

[navybankerteacher]

To answer OP's question: yes, the casino wins - regularly and, over any long period of time, far more than the customers.

 

The odds being what they are, it is amazing how no one on a site like this talks about losing - or ever even seeing someone losing.

 

Come on, people --- who do you think you are kidding with your talk of winning?

[NLH Arizona]

$1,700 on one cruise and $2,400 on another.

[FranknBeans]

I haven't seen pictures posted of winners outside the casino, but ever notice that NONE are ever dated.

It's good thing that photoshop came around so they could at least make them colored.

[ssaito1]

Saw someone win $1800 on the Jewel in Jan. I've won a couple hundred dollars myself. I never, ever, see anyone win on video poker.

 

 

Sent from my iPhone using Forums mobile app

[myra711]

I penny ante player, and won $800 on a Quick Hit machine on the Breakaway! Paid for my cruise. That's big money for me!:D

[ssaito1]

I penny ante player, and won $800 on a Quick Hit machine on the Breakaway! Paid for my cruise. That's big money for me!:D

 

 

It seems like the Quick Hit is the only thing that hits! haha. The $1,800 I saw was on QH.

 

 

Sent from my iPhone using Forums mobile app

[April42749]

To answer OP's question: yes, the casino wins - regularly and, over any long period of time, far more than the customers.

 

The odds being what they are, it is amazing how no one on a site like this talks about losing - or ever even seeing someone losing.

 

Come on, people --- who do you think you are kidding with your talk of winning?

 

100% agree. Although people may win, they have amnesia when it comes to their losses.

[mugtech]

100% agree. Although people may win, they have amnesia when it comes to their losses.

 

Reminds me of when I used to play poker and everyone at the table claimed they were winning. Denial is NOT a river in Egypt.:D

[kcwingwalker]

100% agree. Although people may win, they have amnesia when it comes to their losses.

 

So true. Why would we need jobs and savings when we could simply go to a casino?

[Shawnino]

I only had to put in $600-$700 and one day I cashed out at least $20.

[graphicguy]

I've won and lost. Most I've lost is $500, because that's the most I take with me to gamble with, for the entire cruise. Most I've won at one sitting was $2,700 on 3 card poker.

[zenshift]

Do you think NCL is losing money in the casinos?

 

The house ALWAYS wins. :cool:

 

Besides the obvious win/losses ... the casino even wins on the "losses" (except for odds on craps). Think of it this way (and these are not exact odds, so save me the math correction) ... if a natural blackjack is 7:1 odds, but they only pay you 2:1 ... they pocket the underpayment. In other words, gamblers are never paid the actual odds of winning. So, the casino actually shaves the winnings and therefore "wins" on the "losses".

 

The only game in the casino that pays true odds is the odds bets on craps on the Pass/Do Not Pass lines. That is why it's the best game if you're talking pay out vs. risk.

 

There is a fascinating website called the Wizard of Odds that breaks down every single bet for every single game to show you how to maximize your winnings.

Edited May 1, 2016 by zenshift

[lenquixote66]

To answer OP's question: yes, the casino wins - regularly and, over any long period of time, far more than the customers.

 

The odds being what they are, it is amazing how no one on a site like this talks about losing - or ever even seeing someone losing.

 

Come on, people --- who do you think you are kidding with your talk of winning?

 

 

I am not a big gambler .I only play slots . In the 8 years that I have been playing on cruise ships i have always come out ahead . This however does not translate to offline casino's .:confused:

[Spock's Brain]

I've seen some people drop thousands on Let It Ride in a span of 30 minutes playing 100 dollars on a spot for three spots. Plus the three card poker spot.

 

Personally I play the table minimum, play conservative and hope for the best.

 

I've hit for 5k and 3k on table games and lost as well. Won money playing Texas Hold 'Em and lost as well. Played in poker tournaments and won and lost. Overall after 30 years of gambling I'd say I'm even or slightly behind.

[AndyCapn]

The house ALWAYS wins. :cool:

 

Besides the obvious win/losses ... the casino even wins on the "losses" (except for odds on craps). Think of it this way (and these are not exact odds, so save me the math correction) ... if a natural blackjack is 7:1 odds, but they only pay you 2:1 ... they pocket the underpayment. In other words, gamblers are never paid the actual odds of winning. So, the casino actually shaves the winnings and therefore "wins" on the "losses".

 

The only game in the casino that pays true odds is the odds bets on craps on the Pass/Do Not Pass lines. That is why it's the best game if you're talking pay out vs. risk.

 

There is a fascinating website called the Wizard of Odds that breaks down every single bet for every single game to show you how to maximize your winnings.

 

The Blackjack analogy isn't the best, because you can also win at BJ by beating the dealer. In other words, though it may be 7:1 to get a blackjack, you can also win by having the dealer go over 21 when you don't, or having a higher hand than the dealer.

 

And while the odds bet on craps pay true odds, you still have to make a prior bet (which is not at true odds) to play those odds. That's why most casinos limit the odds bet to double, triple or 3-4-5. You can, however, get a true 50-50 bet at Three Card Poker by playing perfect strategy on the ante bet (which means hitting on Q-6-4 or higher and folding anything lower).

[Jcasino]

I have won thousands of dollars on several NCL cruises.  Didn’t win anything on the Bliss.  Hit $25k once on a slot.  My partner won $2000 on the lottery...just one more number and it would have been over a Million.  Casino at Seas is GREAT!!!