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Author:	[Las Vegas] Topic: Planning on Going to Vegas
bgrimm101	View Space \| Friends \| Playbook \|
Rookie Joined: Sep 2009 Posts: 844 Location:	#1 Posted: 3/28/2012 12:00:51 PM For the 1st time for a WSOP event at the end of June/Start of July and have a few questions. Ive read many things on the tax laws for gambling in the USA and they are all saying something different it seems. If I law down 1100 to win 1000 on a sports game to i get taxed on my winnings? Or 500 to win on a 3:1 Horse that pays me $2000? If i sit down at a poker table and cash out $2000, do i get taxed? Is it really busy there at this time of year? Since the WSOP is at the RIO, which hotels would I be bes to stay at that are in walking distance to that? Thank you for any answers you provide it is much apretiated.
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BigJeezy70	RSI View Space \| Blog \| Friends \| Playbook \| My Sportsbook: Mirage \|
Prospect Joined: Jul 2010 Posts: 307 Location: Indiana	#2 Posted: 3/28/2012 6:34:53 PM Walking distance to Rio??? The Gold Coast and the Palms are the only "close" hotels to Rio. There is a shuttle bus that goes from Rio to Harrahs every day tho. So you can still stay on the Strip.
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jamesxnj	RSI View Space \| Friends \| Playbook \|
Prospect Joined: Nov 2010 Posts: 499 Location: Florida	#3 Posted: 3/28/2012 8:29:35 PM Check out IRS.gov and W2 instructions on when taxes kick in,you would be ok in the scenarios you questioned.But if you were to hit a slot machine jackpot that pays over $1200,here comes the dreaded w2..same for a $2 trifecta wager you made that pays more than $600 or 300-1.It also states Poker tourney winnings are taxed at $5000,but after the cost of the buy-in.. I happened to be staying at the Rio WSOP opening day in June 08,and Vegas did not seem esp.busy then. And I will recomend simply staying at the Rio unless you want something cheaper,than that has to be the Gold Coast.5 minute walk across the street,but a whole different scene with small but clean rooms.Good place for lower budget travelers..Many visitors from the UK stay there if that matters to you. Best Wishes
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bgrimm101	View Space \| Friends \| Playbook \|
Rookie Joined: Sep 2009 Posts: 844 Location:	#4 Posted: 3/28/2012 11:43:09 PM thank you guys a lot for the help.
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nc1capper	View Space \| Blog \| Friends \| Playbook \|
All-Star Joined: Aug 2007 Posts: 14384 Location: North Carolina	#5 Posted: 3/29/2012 12:36:42 AM keep an eye out for info from Vegas Gourmet- he is the resident vegas guru and knows all - dont hate,,but seems like a fairly big player such as yourself would be a "cab" guy for sure,,,most folks have a limited time in the naked city and poundin the pavement with pat and charlie aint where it's at--again--not hatin--just wondering - oh yeah, enjoy Vegas
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