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Hot Aces
Posted: Sat Aug 03, 2019 2:05 am
by treebakka
Let's be honest. Nobody wants to collect W2s when playing video poker.
I've been messing around with a few pay tables and here is a fun video poker game I came up with that avoids W2s at a $1 machine.
I call it Hot Aces. Here are different payouts at max bet.
Royal Flush: 1000
Straight Flush: 250
Four Aces: 1000
Four 2s 3s 4s: 500
Four 5s-Ks: 250
Full House: 50
Flush: 30
Straight: 25
3 of a Kind: 15
Two Pair: 5
Jacks or Better: 5
This is the full pay version which pays out 99.59%
A 45 full house pays 98.51%
A 40 full house pays 97.44%
A quick $1000 for quad Aces makes for a really nice game.
Re: Hot Aces
Posted: Wed Aug 14, 2019 10:00 pm
by Vman96
Interesting. But i think if I was to offer something like this, I still would make the Royal $4000. Too many VP players are too used to that.
A common game that can be set for no W2G except for a Royal is "Triple Bonus Plus" with a $1199 instead of $1200 payout for 4 Aces.
Re: Hot Aces
Posted: Wed Aug 14, 2019 11:50 pm
by Player422738
You have to pay tax on profit regardless of receiving W2G or not. This is the law.
Re: Hot Aces
Posted: Fri Aug 16, 2019 4:14 am
by tech58
hophoofer wrote: ↑Wed Aug 14, 2019 11:50 pm
You have to pay tax on profit regardless of receiving W2G or not. This is the law.
In which state?
Edit #1: state-of- mind that is.
Re: Hot Aces
Posted: Fri Aug 16, 2019 6:43 am
by Eduardo
hophoofer wrote: ↑Wed Aug 14, 2019 11:50 pm
You have to pay tax on profit regardless of receiving W2G or not. This is the law.
True, but there is a big difference between paying taxes once at the end of a profitable year and filling out paperwork on individual wins and then compiling all of your win/loss statements in what could easily be a losing year.
It may not matter for someone planning to do all the work any way, but for a lot of players getting regular W2G's could be seen as a big negative. Not because they want to get out of paying taxes, but because at the end of the year they aren't going to owe them any way.
Re: Hot Aces
Posted: Sun Aug 18, 2019 12:11 pm
by treebakka
Eduardo wrote: ↑Fri Aug 16, 2019 6:43 am
hophoofer wrote: ↑Wed Aug 14, 2019 11:50 pm
You have to pay tax on profit regardless of receiving W2G or not. This is the law.
True, but there is a big difference between paying taxes once at the end of a profitable year and filling out paperwork on individual wins and then compiling all of your win/loss statements in what could easily be a losing year.
It may not matter for someone planning to do all the work any way, but for a lot of players getting regular W2G's could be seen as a big negative. Not because they want to get out of paying taxes, but because at the end of the year they aren't going to owe them any way.
Also, under the new tax law you have to itemize now to take losses against the wins. It is a lot more work to do this. I do not play video poker because I want to make money. I just love playing the game. It is like fishing for me, and the big catch are the heaters. Stacking up w2s is a pain for losing players.